What is a Growth Manager?
A growth manager, oftentimes called a head of growth, develops and executes a plan to help his or her company acquire and retain customers, as well as upsell its products or services. This involves gathering input from customers and various internal departments, like analytics, operations and marketing, and using this information to establish growth targets and choose key performance indicators. A growth manager also is charged with hiring and managing a growth management team, which will test and implement the growth management plan.
|Educational Requirements||Minimum of a bachelor's degree; some employers prefer an MBA|
|Job Skills||Oral and written communication skills, presentation strengths, problem-solving skills, ability to work both autonomously and as part of a team, leadership skills|
|Median Salary (2020)*||$105,660|
|Job Outlook (2019-2029)**||5% (for management occupations in general)|
Sources: *PayScale.com, **U.S. Bureau of Labor Statistics
Employers tend to seek growth managers with a minimum of a bachelor's degree, though some prefer job candidates with a Master of Business Administration (MBA). They also typically look for candidates who have experience with product marketing, business development and/or hiring. Additionally, prospective growth managers should be familiar with database management systems and data visualization software, like MySQL and Tableau, to help in data analysis.
Growth managers often begin formulating their company's growth plan independently before bringing in a team to test and execute that plan; thus, they must be able to work both autonomously and as part of a growth management team. They also need leadership skills to be able to effectively manage their team members.
Since growth managers regularly report on their research, recommendations and progress to upper management, they need excellent oral and written communication skills, along with strong presentation skills. Additionally, they must have problem-solving skills, allowing them to quickly identify and resolve any issues that arise in carrying out a growth management plan.
Career Outlook and Salary
The U.S. Bureau of Labor Statistics (BLS) doesn't report career outlook information specific to growth managers; however, the bureau did state that management jobs in general should increase by 5% from 2019 to 2029. The BLS noted that this is faster than average for all occupations.
As of November 2020, growth managers earned a median annual salary of $98,827, according to PayScale.com.
Individuals interested in growth management careers also might want to explore the following fields: