Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between principals and managing directors 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, becoming a managing director takes usually requires 4-6 years. Additionally, a managing director has an average salary of $129,690, which is higher than the $111,719 average annual salary of a principal.
The top three skills for a principal include CRM, project management and financial services. The most important skills for a managing director are healthcare, portfolio, and business development.
| Principal | Managing Director | |
| Yearly salary | $111,719 | $129,690 |
| Hourly rate | $53.71 | $62.35 |
| Growth rate | 5% | 6% |
| Number of jobs | 84,015 | 81,022 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 68% |
| Average age | 47 | 44 |
| Years of experience | 4 | 6 |
A principal is responsible for maintaining the orderliness of the school premises and supervising school operations, enforcing strict safety standards, and reiterating regulatory procedures. Principals' duties also include managing and monitoring school budget and expenses, improving security plans, conducting regular meetings and sharing updates with teachers and other school personnel, creating reports for school funding, and setting academic goals for everyone's compliance. A principal must administer excellent leadership, communication, and decision-making skills to handle major administrative tasks in maintaining the school's growth.
A Managing Director oversees workflow and progress, making sure that all operations align within the company or organization's mission or set of goals. They are responsible for crafting strategies, devising effective business plans, and executing guidelines that would nurture a company's growth, and as well as to be the driving force that would direct employees to the company's objectives. Furthermore, a Managing Director must coordinate with those in a higher position, such as the members of the board.
Principals and managing directors have different pay scales, as shown below.
| Principal | Managing Director | |
| Average salary | $111,719 | $129,690 |
| Salary range | Between $69,000 And $179,000 | Between $72,000 And $233,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | KKR & Co. L.P. | Paul, Weiss, Rifkind, Wharton & Garrison |
| Best paying industry | Professional | Finance |
There are a few differences between a principal and a managing director in terms of educational background:
| Principal | Managing Director | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between principals' and managing directors' demographics:
| Principal | Managing Director | |
| Average age | 47 | 44 |
| Gender ratio | Male, 65.6% Female, 34.4% | Male, 73.5% Female, 26.5% |
| Race ratio | Black or African American, 10.9% Unknown, 4.0% Hispanic or Latino, 14.0% Asian, 4.3% White, 66.0% American Indian and Alaska Native, 0.7% | Black or African American, 6.1% Unknown, 4.3% Hispanic or Latino, 15.0% Asian, 6.3% White, 67.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 16% | 10% |