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Management and leadership careers and salary

Good leaders can bring out the best in the people they mentor and collaborate with. Every industry needs effective managers, and the business world offers extensive career opportunities for driving both the bottom line and the personal development of other employees.

Illustration of a bar graph showing growth
5%

growth expected for employment of managers from 2019-2029*

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505,000

new management jobs expected from 2019-2029*

*U.S. Bureau of Labor Statistics

  • Industry overview
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Why work in business management?

Successful organizations need effective management. And if you’re interested in a role where you get to showcase your organizational and communication skills, then one of the leadership careers we've outlined below might be the right fit.  

A few benefits of business management careers include: 

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EARNING POTENTIAL

Professionals in business management roles earn well-above-average salaries. According to the U.S. Bureau of Labor Statistics (BLS), the median salary for management occupations is $105,660. By comparison, the median wage for all occupations was $53,490. 

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JOB SATISFACTION

Pursuing a path in business management also has its personal rewards. A number of occupations in the business management sector ranked in the top 10 of U.S. News & World Report’s list of the “Best Business Jobs,” including medical and health services manager (#2), financial manager (#5), and business operations manager (#9).

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MANY CAREER PATHS

Organizations of all shapes and sizes — in virtually every industry — need strong management. Whether it’s health care, education, finance, or another area, you can tailor your business management career to your interests. 

Increased earnings from graduate program.

EMERGING OPPORTUNITIES

While general management roles are expected to increase overall between 2019 and 2019, medical and health services management will see particularly high growth. The U.S. Bureau of Labor Statistics predicts an 32% increase in the number of new jobs. This means there should be plenty of opportunities for advancement, especially for professionals who stay up to date with the newest health concerns, technologies, and trends. 

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RETURN ON YOUR INVESTMENT

Due to high demand for CPAs and higher than average starting salaries, an investment in an accounting education is likely to lead to many career opportunities.

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Job types and salaries

Careers in business management can be both fulfilling and lucrative, as the typical business management salary is higher than the national average. When you learn more, you can prepare to earn more. Here’s a sampling of different types of business management jobs and their median salaries based on data from the U.S. Bureau of Labor Statistics: 

Entry-level business management jobs

Typical requirements: associate or bachelor’s degree

Purchasing manager

Purchasing manager positions are common in manufacturing, retail, wholesale, construction, health care, and other fields where large quantities of supplies are required. In this position, you will oversee the organization's purchasing department. This includes evaluating suppliers, negotiating contracts, and reviewing the quality of delivered products.

Median salary

$69,600 

Construction manager 

This job requires you to supervise construction projects from beginning to end. In practice, that means submitting bids and proposals to clients, government officials, or regulatory agencies. Next comes the planning and coordination process, during which you'll oversee both the design and the building processes until the project is completed and ready for residential or commercial use. 

Median salary

$95,260

Administrative services manager

Administrative services managers perform a wide variety of tasks, from mail delivery and recordkeeping to human resources, payroll, building and facility maintenance, and more. Their well-rounded skill sets in leadership, strategic planning, financial analysis, and budget management are vital to keeping all areas of their organization running without a hitch.

Median salary

$96,940

Medical and health services manager

These types of managers oversee the day-to-day operations of a medical or health services facility or department. This career path requires leadership skills to supervise and motivate staff as well as the ability to coordinate administrative functions such as scheduling, billing, and electronic recordkeeping. 

Median salary

$100,980 

Industrial production manager

As an industrial production manager, you'll oversee the work performed within a manufacturing facility. This role requires high-level organizational skills, since you’ll need to ensure that specific quotas are met and that production lines are operating at maximum efficiency. 

Median salary

$105,480 

Advanced business management jobs

Typical requirements: bachelor’s or master’s degree

Compensation and benefits manager 

These specialized HR managers are responsible for all aspects of employee compensation, including payroll, health care, retirement plans, paid time off, and other employer-provided benefits. The often meet with senior staff, other HR managers, and their organization’s financial officers to recommend particular policies, programs, and plans.

Median salary

$122,270

Sales manager

Sales managers interact directly with customers to market and sell products and resolve customer complaints. Data management is a big part of the job. Those who work in this area of management must prepare budgets, approve expenditures, and monitor sales to stay on track with company targets. 

Median salary

$126,640 

Financial manager

As a financial manager, you'll oversee a company or organization's financial health. Business management and accounting skills are helpful in this field since you will not only be leading an organization's financial initiatives but also preparing financial statements, identifying trends, making forecasts, and generating related data. 

Median salary

$129,890

Advertising and marketing manager

This is a creative and analytical career path that revolves around attracting customers to a company's offerings. This position requires strong organizational skills since you'll need to develop promotional campaigns, arrange advertising media, and evaluate the look and feel of promotional materials. 

Median salary

$135,900

Architectural and engineering manager 

These individuals are primarily responsible for overseeing the creation of blueprints or plans. Their work plays a prominent role in a variety of industries. For instance, they may help design new buildings for construction and development firms. Engineering managers may also be employed by manufacturers to oversee the design of new products. 

Median salary

$144,830

Computer and information systems manager

Computer and information systems managers are part of a technical field where it is helpful to have expertise and education both in business management as well as information technology (IT). Their duties include hiring new employees and ensuring that they receive proper training, managing the technical needs of their organization, and overseeing a set technology budget. 

Median salary

$146,360

Chief executive 

Chief executives can fill a variety of roles in a company. Some are company presidents, while others are chief financial officers (CFOs), chief human resources officers (CHROs), or chiefs of other departments. This career path places you at the top of an organization's hierarchy. In the chief executive role, you'll manage company operations, analyze financial data, and develop organizational policies.

Median salary

$184,460

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Sources

  1. U.S. Bureau of Labor Statistics 
  2. Burning Glass Technologies 

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  • Management and leadership careers and salary
    • Why work in business management?
    • Job types and salaries

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