Business Management Salary

You need to enjoy your career, yes, but life insists that you also consider both earnings and demand when you gauge the career paths that are available to you. The business management field offers both. This field is enticing as it offers an excellent work environment, as well as leading to some exceptionally lucrative careers.

Estimated in 2019, around 505,000 new jobs will be required in the management field by 2029, which makes it the fastest-growing field in the job world. According to the BLS (Bureau of Labor Statistics), 2019’s median annual salary for all management-related occupations was approximately $105,000.

Are you now curious about what business management has to offer in terms of occupations and earnings? What about the steps toward earning a business management degree? We have compiled information for you on business management occupations, salaries, what it takes to earn them, and why you would want to. See what we found.

Top 5 Tasks Performed

• CIS (Computer and Information Systems) Manager
• Advertising, Promotion, and Marketing Manager
• Financial Manager
• Sales Manager
• C-Suite Executive (CEO, CFO, COO, and CIO)

Work Environment

CIS Manager

Computer and information systems managers usually work in a clean climate-controlled environment where they work a full 40-hour workweek They are often called upon after hours if something goes wrong with a client’s network. Deadlines and the unforeseen can cause a business’ CIS team and its managers much stress. Today, every company has its own unique configuration of hardware. Whether big or small, the company may use a complex system or just something basic. Whatever the system, the CIS manager is responsible for overseeing it all. That means solving problems and getting staff resources organized to meet the demands of today’s corporate world. A CIS manager usually works close to home. A CIS manager must be detail-oriented, organized, unshaken (able to handle stress), and friendly.

Marketing Manager

Marketing managers work in offices where they are close to the other managers. These offices will be clean and climate-controlled, as well as comfortable and pleasant. Most in this position work more than the standard 40-hour workweek, meaning giving up many weekends. There is much stress when schedules change or problems arise and there are deadlines to meet and goals to reach. Traveling to meet clients may be a part of being a marketing manager, too. A marketing manager must be outgoing, well-spoken, driven, detail-oriented, and organized.

Financial Manager

Financial managers work in nice, comfortable offices found not far from the C-suite executives’ offices. They also work by the departments that work up financial data needed for analysis, sometimes working a 50 to 60-hour workweek. They usually attend financial and economic association meetings, and traveling is common, as well, to meet with clients or customers or subsidiaries. A financial manager must be detail-oriented, organized, and friendly.

Sales Manager

Sales managers work in comfortable, climate-controlled offices that are well-lit. Their offices are located closeby the top managers. It is not unusual for them to work evenings and weekends on a regular basis. Sales managers are responsible for a plethora of details, thus their work can be stressful. Many times, their position requires that they travel to the local, regional, or even national offices of distributors and dealers. Sales managers must be self-motivated, driven, jovial, and tenacious.

C-Suite Executives

CEOs and other top executives tend to find themselves working in an environment that is quite fast-paced and stressful. They usually travel to conduct much of their business and many times meet with clients or business partners from all over the globe. CEOs are responsible all the time. CEOs in a study done by Harvard Business College worked an average of 9.7 hours per weekday, 3.9 hours per day on the weekends, and 2.4 hours per day on their vacation days. C-suite have the stress of the success of failure of the company on their shoulders, so they must be able to withstand pressure. They work long hours and travel. They must read will, be well-spoken, driven, professional, warm and friendly.

Job Outlook

CIS Manager

CIS managers’ employment is projected to grow 10 percent by 2029, 2.5 times faster than the average for other occupations combined.

Marketing Manager

There is projected to be 6 percent growth in overall employment of marketing managers by 2029, more quickly than the average for other occupations combined.

Financial Manager

The employment of financial managers projected growth is 15 percent by 2029, rising almost 4 times more quickly than the average for other occupations combined. Growth, though, will vary by industry.

Sales Manager

Sales managers’ employment is projected to rise 4 percent by 2029, equal to the projected growth for all occuptions in the United States, which varies by occupation. Sales managers’ employment growth is dependent largely on the growth or contraction of the industries they are employed by.

C-Suite Executives

Employment, overall, for C-suite executives is projected to rise 4 percent by 2029, equal to the projected growth for all occuptions in the United States, which varies by occupation.

How to Become a…

CIS Manager

To become a CIS manager, you need a bachelor’s degree in information or computer science and 5 or more years work experience. Many have a graduate degree.

Marketing Manager

You need a bachelor’s degree to become a marketing manager. Also, you usually need work experience in marketing, sales, promotions, or advertising.

Financial Manager

To become a financial manager, you usually need a bachelor’s degree and at least 5 years experience in a financial or business niche, like accounting.

Sales Manager

You need a bachelor’s degree to become a sales manager. You also usually need work experience as a sales representative.

C-suite Executive

To become a C-suite executive, you usually need a bachelor’s degree and considerable experience working in a business-related field.

Sample of Reported Job Titles

CIS Manager

• Database Administrator
• Network and Computer Systems Administrator
• Computer Network Architect
• Computer Systems Analyst

Marketing Manager

• Public Relations Specialist
• Market Research Analyst
• Advertising Sales Agent
• Editors

Financial Manager

• Accountant/Auditor
• Budget Analyst
• Financial Analyst
• Insurance Underwriter

Sales Manager

• Insurance Sales Agent
• Market Research Analyst
• Public Relations Specialist
• Sales Engineer

C-Suite Executives

• Administrative Services Manager
• Archetectural and Engineering Manager
• Medical and Health Services Manager
• Industrial Production Manager

Salary Trend

Computer and Information Systems Manager $146,360

Marketing Manager $135,900

Financial Manager $129,890 15%

Sales Manager $126,640

C-Suite Executives  $104,690

Average Salaries Across the Country – 2019

Factors that can influence salary

Experience

Experience makes a difference when it comes to getting your dream job. You can not get any of these positions without at least 5 or more years work experience. Experience can make a huge difference in your salary, too. Just a few extra years of experience can mean an extra $10-15K per year for you.

Industry

In each industry, you have different needs within that industry. Some don’t even need a high school diploma but those tend not to pay very well and it seems that they never have benefits like health insurance. Others, you cannot get without a Bachelor’s degree, but those are the jobs that are worth the time you put in, the ones that have health insurance and a few paid vacation days every year.

Location

Every job pays within a certain range across the United States, but within that range you have states that pay more and less. New York is consistently the highest paying state in the business management industry

Education

You need at least a Bachelor’s degree to land any of these positions and the more education you have, the higher your pay can go. Depending on what you specialize in, education can make you tons of money in the long run.

Average Salary of Jobs with Related Titles

Market Research Analysts

Advertising Managers

Human Resources Managers

Economists

Management Analysts

Operations Research Analysts

Financial Analysts

Logisticians

Accountants and Auditors

Insurance Underwriters

Purchasing Agents

Market Research Analysts

Loan Officers

Securities and Commodities Sales Agent

Real Estate Brokers

Event Planners