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Earnings and Salary Info for a Bachelor in Business Management

A bachelor's degree in business management typically covers courses that prepare students for a career as a manager in the areas of food service, retail, office, and lodging. Find out about the curricula of these programs, and learn about career options, job growth and salary info for business management graduates.

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All businesses require managers, whether the business is providing goods, catering, or hospitality. This article summarizes four potential career paths for professionals holding a bachelor's degree in business management.

Essential Information

Students interested in a business management career can pursue an undergraduate education to obtain a Bachelor in Business Management degree. This degree covers business related courses such as accounting, finance, and management. Students pursuing this degree can specialize their field of study for more specific careers such as restaurant management, small business, or lodging management. Internships are also available to give practical experience to those studying for a business management degree.

Career Food Services Manager Retail Sales Manager Office Manager Lodging Manager
Education Requirements Bachelor's degree Bachelor's degree Bachelor's degree Bachelor's degree
Projected Job Growth (2014-2024)* 5% 5% 8% 8%
Median Salary (2015)* $48,690 annually $38,310 annually $52,630 annually $49,720 annually

'Source: *U.S. Bureau of Labor Statistics

Career Options

Entry-level positions available to business management graduates include assistant manager or manager positions with food service companies, retail stores, offices, and hotels. After building some managerial experience or obtaining additional education, management professionals can typically acquire higher paying positions.

Food Services Manager

Students entering into the field of food service management complete a bachelor's degree program in business management with a specialization or major in restaurant management. Restaurant management specializations focus on the culinary and business aspects of the hospitality field. Students can concentrate their specialization on international restaurant management, allowing them to gain knowledge crucial to working overseas. Students participating in internships can acquire useful managerial and business experience while still enrolled in school.

Prior to enrolling in this program, students may need to complete courses that help them transition from general business management to restaurant management. Courses in restaurant management programs includes topics like beverage management, small business management, and marketing. Testing methods in these programs include reports, examinations, essays, presentations, and classroom discussions.

Earnings and Salary Information

Food service managers take care of the daily routines needed to successfully run a restaurant or other establishment. According to the U.S. Bureau of Labor Statistics (BLS), the employment of food service managers is expected to increase by about five percent between 2014 and 2024. The slow of growth is largely attributed to the reduced rate at which new dining establishments are opening.

The BLS also reports that food service managers had mean annual wages of $48,690 and hourly wages of $25.79 in May 2015. Those in the top ten percent made $83,010 or more annually, while those in the lowest ten percent only earned $28,780 or less. The highest paying state for food service managers was New Jersey, which had a mean annual income of $71,440 for food service managers. The top paying industry for food services managers were insurance carriers, which had a mean yearly salary of $94,330.

Retail Sales Manager

Students interested in retail sales management can major or minor in professional sales during a bachelor's degree program in business management. These programs sometimes have internships available for students with local businesses. In some cases, schools with professional sales specializations also offer additional minors or coursework in particular industries like automobiles or computer technology.

A professional sales program has classes in marketing, accounting, financial management, leadership, and computer applications. Retail sales managers must not only become effective leaders, but must also become savvy business managers. Students learn how to lead and support a team of workers while turning a profit in their industry by providing quality products and offering satisfactory customer service. Creating an effective marketing strategy is important to draw in and retain repeat business.

Earnings and Salary Information

Sales managers that work in retail establishments answer customer questions and complaints along with overseeing the operations of a store. Bachelor's degree holders should have the best opportunities to pursue these positions.

In May 2015, the mean annual salary for first-line supervisors of retail salesworkers was $38,310, making the hourly income $18,42, according to the BLS. The top paying state for sales managers was New York, which had an hourly salary of $24,07 and a yearly wage of $50,070. Different industries saw a difference in salary earnings. First-line supervisors of retail salesworkers employed by clothing stores earned an annual mean income of $40,600, while automobile dealer supervisors made an average of $80,300 in a year.

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Office Manager

Office managers that plan on working in small office environments and leading a small team of workers can look into a small business specialization in an undergraduate business program. This specialization allows students to learn effective communication and managerial techniques that help promote an efficiently running office.

Human resources management, marketing, economics, computer applications, financing, and accounting are all courses an office manager takes in a small business program. Office managers acquire an equal understanding of effective business management, employee management, and customer interaction. A small business office heavily depends on an effective office manager to succeed.

Earnings and Salary Information

Office managers perform administrative duties and supervise a staff of workers, ensuring that a company's operation runs smoothly. Between 2014 and 2024, administrative service managers, including office managers, are expected to see 8% growth in job openings, which is about as fast as the average for all careers.

The BLS reported that office managers, called first-line supervisors of office and administrative support workers in this case, in the top ten percent made $85,320 or more in annual income as of May 2015. The lowest ten percent made significantly less, earning $31,770 or less in a single year. The median hourly salary for this position was $25.30, making the annual income for first-line supervisors of office workers $52,630. One of the top paying industries for office managers was natural gas distribution, which had an annual mean salary of $78,180. The District of Columbia had the highest yearly mean income for office managers at $79,470.

Lodging Manager

Many different educational options are available for lodging managers. However, students interested in both working as lodging managers and earning a bachelor's degree in business management need to look into the resort or lodgings management major, minor, or specialization.

In order to run an effective lodging establishment, a manager must provide food and beverage services, building and room maintenance, housekeeping services, and a comfortable atmosphere. Along with those duties, lodging managers have to effectively organize and lead a team of workers while trying to maintain a profitable business.

Earnings and Salary Information

Lodging managers ensure that hotels, motels, or other lodging establishments are efficiently and carefully ran. Career growth for lodging managers is expected to be slower than average and positions should face keen competition, especially since managers interested in this career specialize in hospitality.

The BLS noted that in May 2015, lodging managers had a median hourly salary of $23.91 which amounts to an annual average income of $49,720. Lodging managers that worked in travel accommodations made an average of $56,820 yearly, while those that worked in company management averaged $79,300 per year. Lodging managers in the lowest ten percent only made $13.60 an hour or less, while those in the top ten percent made $45.35 per hour or more.

While job prospects vary depending on type of management position, all business management positions expect close to average job opportunity growth. Positions such as office managers almost always require a bachelor's degree, but these positions also tend to have higher financial compensation than some of the positions which may not require a bachelor's degree, such as retail sales managers. Regardless, holding a degree greatly improves employment opportunities and compensation.

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