Entity Framework Vs Stored Procedures - Performance Measure

I'm trying to establish how much slower Entity Framework is over Stored Procedures. I hope to convince my boss to let us use Entity Framework for ease of development.

Problem is I ran a performance test and it looks like EF is about 7 times slower than Stored Procs. I find this extremely hard to believe, and I'm wondering if I'm missing something. Is this a conclusive Test? Is there anything I can do to increase the performance of the EF Test?

        var queries = 10000;

        //  Stored Proc Test
        Stopwatch spStopwatch = new Stopwatch();
        spStopwatch.Start();
        for (int i = 0; i < queries; i++ )
        {
            using (var sqlConn = new SlxDbConnection().Connection)
            {
                var cmd = new SqlCommand("uspSearchPerformanceTest", sqlConn) { CommandType = CommandType.StoredProcedure };

                cmd.Parameters.AddWithValue("@searchText", "gstrader");
                sqlConn.Open();
                SqlDataReader dr = cmd.ExecuteReader();

                List<User> users = new List<User>();
                while (dr.Read())
                {
                    users.Add(new User
                    {
                        IsAnonymous = Convert.ToBoolean(dr["IsAnonymous"]),
                        LastActivityDate = Convert.ToDateTime(dr["LastActivityDate"]),
                        LoweredUserName = dr["LoweredUserName"].ToString(),
                        MobileAlias = dr["MobileAlias"].ToString(),
                        UserId = new Guid(dr["UserId"].ToString()),
                        UserName = (dr["UserName"]).ToString()
                    });
                }

                var username = users.First().UserName;
                sqlConn.Close();
            }
        }
        spStopwatch.Stop();
        Console.WriteLine("SP - {0} Queries took {1}", queries, spStopwatch.ElapsedMilliseconds );

        //  EF  Test
        Stopwatch entityStopWatch = new S