Workers willing to shoulder the responsibilities, hours and sometimes stress that come with being a boss can find themselves rewarded on payday with salaries hitting six figures and a career staircase leading to promotions and better positions.
Typically a bachelor’s degree in business administration is only a starting point for management positions and a growing number of employers look for MBAs or graduate degrees. Employers also frequently value experience in the field along with the education.
Some workers start with an undergraduate degree related to on their field such as advertising or government administration and focus on acquiring business administration skills with a graduate degree, according to the federal Bureau of Labor Statistics (BLS).
Here’s a look at some of the positions available with degrees in business administration and what you might expect to earn:
Every town needs someone to run it and more than half the cities in the country had city managers in 2005, an article on the City Mayors Government site, citymayors.com, said. That doesn’t count other jobs like county or city administrator, or managing departments in a large municipality.
A city manager salary solidly depends on the city’s size, but a Sacramento Bee article updated in 2012 said 476 California city managers averaged $200,000 a year. The BLS includes city managers with top executives that have a median salary of $100,000 a year.
Public Relations Manager
Another wide field, this can involve running a small operation or piloting public relations for a major corporation, agency or large non-profit. A public relations manager salary can also vary with some listings on glassdoor.com around $30,000 but more at $50,000 and up.
The BLS said the median salary for a public relations manager is $91,000.
Closely related to a public relations manager, a marketing manager directs how to sell the company’s products, message or service and devises how to do it. Working with advertising, sales and other departments, marketing managers decide who wants a company’s products, calculate potential sales, craft pricing strategies and help develop new product lines.
A marketing manager salary depends on the size of the job, but the BLS median salary is nearly $113,000, ranging from a lower 10% of $57,000 to $166,000 at the top.
Hotel or Motel Manager
Running a hotel or motel means you’re in charge of making sure guests have a good time. As part of the hospitality industry it can also take you to a specialized hotel division or running a resort.
The BLS said larger chains may provide faster advancement and put the median salary at $46,000. The hotelmanagement.org website said the pay varies widely depending on the size of the company but $100,000 is possible with 5 or 10 years of experience.
This is in one of the fastest growing fields with healthcare expected to add 5.7 million workers, the BLS said, and can run from managing a hospital or nursing home, to directing a major medical department or a public health clinic.
The BLS said a healthcare administrator salary trails some other management jobs, but put the median pay at $84,000 with a top end of $144,000.
Department Store Manager
The retail industry pumps $4 trillion into the economy and is a major economic engine. The job can range from a mall store to a ritzy Manhattan landmark. But in the broad retail business, management also can include operating departments in large chains such as sales or branch manager.
Pay again varies on the store size. The BLS said the median department store manager salary, along with other retail management positions, is $68,000.
Training a company’s workers will become more important as retiring boomers drain from the workforce, the BLS said. Companies seeking to edge the competition need to keep employees up to date on technology, regulations, company policies and changing market conditions.
The median training manager salary is $89,000, the BLS said, with a range of $50,000 to $148,000.