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The differences between principal consultants and senior business consultants can be seen in a few details. Each job has different responsibilities and duties. Additionally, a principal consultant has an average salary of $116,478, which is higher than the $105,184 average annual salary of a senior business consultant.
The top three skills for a principal consultant include cloud, business development and C #. The most important skills for a senior business consultant are data analysis, healthcare, and project management.
| Principal Consultant | Senior Business Consultant | |
| Yearly salary | $116,478 | $105,184 |
| Hourly rate | $56.00 | $50.57 |
| Growth rate | 11% | 11% |
| Number of jobs | 143,753 | 144,929 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 69% |
| Average age | 44 | 44 |
| Years of experience | - | 4 |
A principal consultant is responsible for evaluating business' needs and opportunities, identifying potential leads to create project proposals, and maintaining strong business relationships that would generate revenues and increase the organization's profitability. Principal consultants must be up-to-date with the current market trends to ensure that the business adapts to the industry's changes. They also initiate new product development to expand its brand image, working closely with the marketing team for marketing strategies and promotions.
A senior business consultant specializes in performing research and analysis to optimize business processes. Their responsibilities revolve around coordinating with different departments to gather necessary data, devising strategies to reduce cost, assess risks, and identify the strength and weaknesses of operations to recommend solutions. They may also train and mentor junior consultants, produce progress reports and presentations, and assist clients through calls and correspondence. Furthermore, as a consultant, it is essential to adhere to the company's policies and regulations, including its vision and mission.
Principal consultants and senior business consultants have different pay scales, as shown below.
| Principal Consultant | Senior Business Consultant | |
| Average salary | $116,478 | $105,184 |
| Salary range | Between $90,000 And $150,000 | Between $81,000 And $136,000 |
| Highest paying City | San Francisco, CA | Jersey City, NJ |
| Highest paying state | Oregon | New Jersey |
| Best paying company | Pure Storage | Anaplan |
| Best paying industry | Finance | Professional |
There are a few differences between a principal consultant and a senior business consultant in terms of educational background:
| Principal Consultant | Senior Business Consultant | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | Western Carolina University | Northwestern University |
Here are the differences between principal consultants' and senior business consultants' demographics:
| Principal Consultant | Senior Business Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 75.8% Female, 24.2% | Male, 69.2% Female, 30.8% |
| Race ratio | Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% | 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 | 11% | 12% |