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The differences between senior consultants, business development and principal 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 $104,556 average annual salary of a senior consultant, business development.
The top three skills for a senior consultant, business development include SQL, healthcare and project management. The most important skills for a principal consultant are cloud, business development, and C #.
| Senior Consultant, Business Development | Principal Consultant | |
| Yearly salary | $104,556 | $116,478 |
| Hourly rate | $50.27 | $56.00 |
| Growth rate | 7% | 11% |
| Number of jobs | 124,778 | 143,753 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 68% |
| Average age | 45 | 44 |
| Years of experience | 4 | - |
Senior Business Development Consultants are responsible for recruiting independent financial advisors and helping advisors look for assets. Their value is determined through business consultations and understanding the workings of financial practice. Their experience should allow them to know how to recruit the best independent financial advisors and communicate with them. Senior Business Development Consultants are committed to a sound recruiting routine, persistency, and the ability to close deals using any communication channel.
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.
Senior consultants, business development and principal consultants have different pay scales, as shown below.
| Senior Consultant, Business Development | Principal Consultant | |
| Average salary | $104,556 | $116,478 |
| Salary range | Between $81,000 And $133,000 | Between $90,000 And $150,000 |
| Highest paying City | Burbank, CA | San Francisco, CA |
| Highest paying state | Alaska | Oregon |
| Best paying company | Dell | Pure Storage |
| Best paying industry | Professional | Finance |
There are a few differences between a senior consultant, business development and a principal consultant in terms of educational background:
| Senior Consultant, Business Development | Principal Consultant | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Western Carolina University |
Here are the differences between senior consultants, business development' and principal consultants' demographics:
| Senior Consultant, Business Development | Principal Consultant | |
| Average age | 45 | 44 |
| Gender ratio | Male, 71.8% Female, 28.2% | Male, 75.8% Female, 24.2% |
| Race ratio | Black or African American, 11.2% Unknown, 5.4% Hispanic or Latino, 15.9% Asian, 4.1% White, 62.9% American Indian and Alaska Native, 0.5% | 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% |
| LGBT Percentage | 18% | 11% |