There are the following differences and similarities between the permanent and electromagnets as
| Electromagnet | Permanent Magnet |
| Easy to prepare. | Difficult and takes more time to prepare. |
| Can be made of any strength. | Strength cannot be more than the magnet used to prepare. |
| The magnetic strength can be varied. | Magnetic strength cannot be varied. |
| The polarity can be changed. | Polarity cannot be changed. |
| It is costly. | It is not so costly. |
| It is suitably used in D.C. motor, generators for large size. | It cannot be used, only suitable for less output. |
| Efficiently used in electric bell, signal indicator etc. | Efficiently not used in electric bell, signal indicator, etc. |
| Efficiently used as lifting magnets in steel mills etc. | Efficiently not used as lifting magnets in steel mills etc. |
| Cannot be used as a magnetic compass for navigators. | It is very efficiently used as a magnetic compass for navigators. |
| It can be made of any size. shape and polarity. | It can not be made of any size. shape and polarity. |