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The differences between principal business analysts and business analyst-product owners can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a principal business analyst, becoming a business analyst-product owner takes usually requires 4-6 years. Additionally, a principal business analyst has an average salary of $115,081, which is higher than the $100,087 average annual salary of a business analyst-product owner.
The top three skills for a principal business analyst include provide management, shared services and project management. The most important skills for a business analyst-product owner are user stories, acceptance criteria, and jira.
| Principal Business Analyst | Business Analyst-Product Owner | |
| Yearly salary | $115,081 | $100,087 |
| Hourly rate | $55.33 | $48.12 |
| Growth rate | 11% | 9% |
| Number of jobs | 164,208 | 175,034 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 61% |
| Average age | 44 | 43 |
| Years of experience | 4 | 6 |
A principal business analyst provides analytical services to recommend strategies that will optimize business operations. Among their responsibilities include gathering and analyzing data, understanding the purpose and needs of daily operations, performing market research and analysis to identify trends and opportunities, determine the strengths and weaknesses of current procedures, and develop solutions against problem areas. They must also conduct risk assessments, maintain documentation, and present findings through reports and presentations. Moreover, a principal business analyst must lead and encourage staff to reach goals while implementing and promoting the company's policies and regulations.
A business analyst-product owner is responsible for monitoring the product management procedures, ensuring that the services accurately reach the target audience on a wide range of platforms. Business analysts-product owners utilize their business expertise, discussing the product's conceptualization to final deliverables. They conduct multiple quality control processes, comply with internal guidelines and state regulations, and adhere to the budget limitations and deadlines. A business analyst-product owner coordinates with the clients and stakeholders to discuss product plans and their impact on the financial stability of the organization.
Principal business analysts and business analyst-product owners have different pay scales, as shown below.
| Principal Business Analyst | Business Analyst-Product Owner | |
| Average salary | $115,081 | $100,087 |
| Salary range | Between $88,000 And $150,000 | Between $73,000 And $136,000 |
| Highest paying City | Seattle, WA | Redwood City, CA |
| Highest paying state | Washington | Oregon |
| Best paying company | Mayo Clinic | JPMorgan Chase & Co. |
| Best paying industry | Pharmaceutical | Professional |
There are a few differences between a principal business analyst and a business analyst-product owner in terms of educational background:
| Principal Business Analyst | Business Analyst-Product Owner | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Stanford University |
Here are the differences between principal business analysts' and business analyst-product owners' demographics:
| Principal Business Analyst | Business Analyst-Product Owner | |
| Average age | 44 | 43 |
| Gender ratio | Male, 60.8% Female, 39.2% | Male, 61.1% Female, 38.9% |
| Race ratio | Black or African American, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% | Black or African American, 9.5% Unknown, 5.0% Hispanic or Latino, 10.7% Asian, 20.5% White, 54.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 8% |