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The differences between principal business analysts and business analyst/project managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a principal business analyst and a business analyst/project manager. Additionally, a principal business analyst has an average salary of $115,081, which is higher than the $99,882 average annual salary of a business analyst/project manager.
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/project manager are project management, business stakeholders, and business process.
| Principal Business Analyst | Business Analyst/Project Manager | |
| Yearly salary | $115,081 | $99,882 |
| Hourly rate | $55.33 | $48.02 |
| Growth rate | 11% | 11% |
| Number of jobs | 164,208 | 173,827 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 69% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
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/project manager is responsible for developing project management procedures, analyzing processes, and ensuring the accuracy and efficiency of project deliverables, following clients' specifications and requirements to meet their highest satisfaction. Business analysts/project managers manage project resources, delegate tasks to project staff, setting deadlines, and coordinating with the clients for regular updates and suggest strategic adjustments as needed. They also mitigate potential risks and manage changes during the project execution, maintaining the quality of the outputs, and balancing costs to meet the clients' budget goals.
Principal business analysts and business analyst/project managers have different pay scales, as shown below.
| Principal Business Analyst | Business Analyst/Project Manager | |
| Average salary | $115,081 | $99,882 |
| Salary range | Between $88,000 And $150,000 | Between $72,000 And $137,000 |
| Highest paying City | Seattle, WA | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | Mayo Clinic | Citi |
| Best paying industry | Pharmaceutical | Finance |
There are a few differences between a principal business analyst and a business analyst/project manager in terms of educational background:
| Principal Business Analyst | Business Analyst/Project Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between principal business analysts' and business analyst/project managers' demographics:
| Principal Business Analyst | Business Analyst/Project Manager | |
| Average age | 44 | 44 |
| Gender ratio | Male, 60.8% Female, 39.2% | Male, 55.8% Female, 44.2% |
| 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, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |