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The differences between principal business analysts and lead business analysts 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 lead business analyst. Additionally, a principal business analyst has an average salary of $115,081, which is higher than the $107,171 average annual salary of a lead business analyst.
The top three skills for a principal business analyst include provide management, shared services and project management. The most important skills for a lead business analyst are project management, scrum, and business analysis.
| Principal Business Analyst | Lead Business Analyst | |
| Yearly salary | $115,081 | $107,171 |
| Hourly rate | $55.33 | $51.52 |
| Growth rate | 11% | 11% |
| Number of jobs | 164,208 | 126,509 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 66% |
| 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 lead business analyst utilizes data and analytical skills to plan, develop, and implement business systems and operations to help a company attain its short and long-term goals. Their duties focus on conducting market research and assessments, gathering and analyzing data, studying consumers and competitors in the industry, and identifying the strengths and weaknesses in existing systems. They also conduct risk assessments, create business models and forecasts, and identify solutions against potential or existing issues. Additionally, through their research findings, they develop recommendations in adherence to company standards and regulations.
Principal business analysts and lead business analysts have different pay scales, as shown below.
| Principal Business Analyst | Lead Business Analyst | |
| Average salary | $115,081 | $107,171 |
| Salary range | Between $88,000 And $150,000 | Between $82,000 And $139,000 |
| Highest paying City | Seattle, WA | San Francisco, CA |
| Highest paying state | Washington | Washington |
| Best paying company | Mayo Clinic | Citi |
| Best paying industry | Pharmaceutical | Finance |
There are a few differences between a principal business analyst and a lead business analyst in terms of educational background:
| Principal Business Analyst | Lead Business Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between principal business analysts' and lead business analysts' demographics:
| Principal Business Analyst | Lead Business Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 60.8% Female, 39.2% | Male, 55.3% Female, 44.7% |
| 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, 7.4% Unknown, 4.4% Hispanic or Latino, 8.4% Asian, 14.2% White, 65.4% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |