Business Manager Salary
The manager is a person who is responsible for handling and taking responsibility of all the operations conducted by his sub-ordinates. In terms of significance and salary managers hold the second position after the capital owners in the company. The business manager salary is decided based upon various criteria. These criteria may include field of work, significance of work, experience, qualification, etc.
The average business manager salary which can be expected in the managerial field are given below on the basis of their applicability-
A manager working in technical field is bound to earn more than a manager working in a non technical field. This is simply because the technical manager has slightly more knowledge regarding the field of work than the non-technical manager. This enables the technical manager to adapt quickly to the requirements and generate the required outputs with less or no training itself. While with the non-technical managers, the training becomes more crucial and they may take sufficient time to adapt to their field of work.
Managers working in fields such as engineering, computer designing and manufacturing, aerospace engineering, physics, electrical engineering, etc, yield a high salary of about 140,000 dollars to 155,000 dollars in the beginning itself. This salary is high enough to encourage these candidates to pertain careers in this field.
While managers working in certain fields such as in food service manager, artist manager, retail manager, financial manager,accounts manager, human resource manager, etc, are comparatively less yielding when compared to the previous ones. They yield an average salary of 85,000 dollars to 120,000 dollars. This is slightly less to encourage the candidates. But, with increase in scope in this field, pay is also due to increase and attract more candidates towards this non-technical field.
Based on Ownership
The salary of a manager depends on ownership too. If the business organization is under government or a public sector undertaking, the pay is bound to be less as the benefits apart from the pay are huge. The incentives provided in these sectors are really a centre of attraction to the candidates in spite of low pay. The salaries in this field range from 75,000 dollars to 95,000 dollars. Which are comparatively low compared to private organizations.
If the business organization is a private undertaking, the pay is slightly higher but the incentives provided to the candidates may not be satisfying. In today’s world private sectors have become a prime centre of attraction because the salary ranges from $85,000 to a whopping $140,000 or even more.
Based on Experience
In this field, experience holds a prime consideration. It is true in any field but, in this field it is valued more than the other fields. The inexperienced candidates or fresh candidates are paid relatively low compared to the experienced candidates. There is a blooming response and requirement for the experienced candidates in this field. However, there is no decline in the requirement for the fresh candidates too. The salary of experienced candidates ranges from 110,000 dollars to 150,000 dollars. On the other hand, the salary of inexperienced candidates varies between 80,000 dollars to 130,000 dollars.
Therefore, the average business manager salary, irrespective of the field can be expected to be around $95,000, though it may differ from location to location.