Global managers need to be skilled and experienced in accurately analyzing global market trends. A bachelor's degree in business or finance is a good starting point for these professionals, who then typically need to accumulate 5 or more years of industry experience. Global managers can choose to specialize in a particular sector, and must be willing to constantly stay abreast of changing strategies and trends.
Global managers follow market demand, supply, and trends in order to produce and distribute goods and services and maximize profit potential. This job generally requires a bachelor's degree as well as several years of relevant work experience. Employers may also look for candidates to have specific application experience within their sector.
|Required Education||Bachelor's degree in business, economics, finance, or related field|
|Other Requirements||5+ years of industry-related experience|
|Projected Job Growth (2018-2028)*||8% for marketing managers|
|Median Annual Salary (2019)**||$99,165 for global marketing managers; $103,486 for global accounts managers|
Sources: *U.S. Bureau of Labor Statistics; **PayScale.com
Global managers develop and institute strategies to maximize profit across international markets. Global managers focus on consumer demand and international trends, as well as sourcing goods and services. They may begin a marketing campaign by collaborating with a team of experts in order to develop products or services that exploit a particular niche in the market. These professionals may then implement product development, pricing, and distribution strategies to achieve goals and objectives.
Global managers have three primary roles: decision-maker, innovator, and negotiator. As decision-makers, managers review reports, analyze markets, and determine a course of action. As innovators, global managers create a vision, generate new ideas to improve products or services, test new methods, and seize opportunities to transform their vision into profits. As negotiators, managers make deals, negotiate contracts, manage conflicts, and tackle problems.
Global managers can specialize as product, brand, or marketing managers among other departments in a business, as well as being general managers who oversee these departments. Their duties include researching, developing, and implementing business plans to cut costs, increase revenues, and push the company towards a targeted direction. Managers are also responsible for trade compliance, acquiring appropriate import and export licenses, and monitoring regulatory developments to keep processes and procedures current with customs laws.
Requirements and Skills
Employers require candidates to hold at least a bachelor's degree in a field related to business, economics, finance, or a related industry. According to job postings in October 2010 on Monster.com, employers prefer candidates with more than five years of experience. Employers may also require candidates to have experience with specific applications such as the Eight Disciplines (8D) Problem Solving Process, Six Sigma, or SAP (Systems Applications and Products). Additionally, employers expect global managers to adapt to changing trends and internal market conditions as well as build rapport across cultural borders.
Salary Info and Job Outlook
PayScale.com reported in August 2019 that the median annually salary for global marketing managers was $99,165, while global account managers' median annual salary was $103,486. Although the U.S. Bureau of Labor Statistics (BLS, www.bls.gov) does not provide information specific to global managers, it did predict that the employment of marketing managers is projected to increase faster than average by 8% during the 2018-2028 decade.
A global manager innovates, makes decisions, and negotiates in order to increase profits in the international market. To do this, they must be knowledgeable about consumer demand, trends, finance and trade laws, and logistics. Global market managers, who should see faster than average job growth this decade, typically obtain a bachelor's degree in a related field and build up work experience within their sector or niche.