Find your perfect college degree
Are you looking for a management position? In this list of the 30 highest-paying business management jobs and salaries guide, we discuss a wide variety of options that are available, as well as the expected average salary.
Whether you have a bachelor’s degree or are thinking about earning your graduate degree, you will find a position here that will fit your needs and career aspirations.
What makes a good manager? And… are you management material? Of course, you can be with the proper training and experience. Often, leadership positions do require a master’s or doctoral degree. A good leader is good at time management, organization, communication, and delegation, to name a few!
If you are interested in a business-related career offering positions in management or leadership, we’ve got you covered. Take a look!
30 Highest Paying Business Management Jobs and Salaries
Chief Executive Officer
Chief executive officers are in public and private-sector industries and are positioned at the top of the list of our highest paying business management jobs! They are mainly responsible for the planning, coordination, and management of company operations. They are the ones who make sure their company has the right goals, and they meet those goals within the set timeline.
They are leaders in the business industry who earn great respect from the people working inside and outside their company, organization, agency, or corporation.
Although CEOs have the management position in the company, they still have to answer to a board of directors. They are vital for their companies’ success, so they need to be highly qualified, with a master of business administration degree and stellar work history.
Chief Executive Officer Salary: $189,520
Marketing Manager
Another one of the highest paying business management jobs available the a career as a Marketing Manager.
Managers in this field of study create and implement strategies like marketing campaigns and brand identity to achieve the target sales of a company within the given marketing budget. Marketing managers are also responsible for monitoring the effectiveness of the strategies employed.
They keep track of competitor data and market trends to ensure that the company’s products or services remain competitive or attractive to its target consumers.
External or internal designers or design companies are also close collaborators of marketing managers to properly execute their vision for the company’s brand, product, or service.
Marketing Manager Salary: $158,280
Sales Manager
A sales manager is tasked to lead a group of sales professionals within a company. They hire and train salespeople and assign goals for them to meet based on the company’s targets. Sales managers also come up with sales plans that to reach or improve profits, gain or retain customers, and improve the selling strategies of their salespeople.
You may not think that a Sales Manager position is one of the highest paying business management jobs available, but it can be when you climb the ladder of success in the sales management field!
Excellent communication skills are necessary, as they function as trainers and mentors for their sales team, and because it may also be the responsibility of sales managers to handle dissatisfied customers.
Sales Manager Salary: $130,600
Business Development Manager
Exploring new opportunities to expand a business or organization is one of the critical roles of a business development manager. They look into potential new markets, partnerships, or clients or even new products and services to offer to grow the company and increase revenue.
Business development managers are expected to initiate contact with various people or organizations who can help the company venture into new waters.
Advertising campaigns, frequent attendance in industry functions, cold calling, and other innovative forms of networking are expected from business development managers to create interest in the business.
Business Development Manager Salary: $139,054
Financial Manager
Organizations hire financial managers to receive financial advice on their business plans and decisions. Financial managers are in charge of managing budgets, preparing financial reports, and recommending both short- and long-term steps to be taken based on the financial performance of the company.
They are in charge of the overall financial health of the company, which can be through monitoring cash flow and looking for opportunities to reduce costs. They maintain significant relationships with external contacts like auditors and banks.
Financial managers must also keep track of government-mandated obligations like taxes and changes in the country’s systems to avoid penalties or irregularities.
Financial Manager Salary: $139,790
Risk Manager
Risk managers identify and prepare for possible financial risks that a company might encounter. Some may also cover risks to other aspects of a company, such as its security, operations, or even its reputation. They are then responsible for implementing plans that can either prevent these risks or mitigate them to ensure that losses are minimal.
Supply Chain Manager
Efficient and timely procurement of parts or materials for a company’s product is the responsibility of supply chain managers. They are the company’s middleman for suppliers and service providers, negotiating deals and contracts that are beneficial to the company. Supply chain managers then oversee the manufacturing, storage, delivery, monitoring, and inventory of products.
As they also handle large numbers of staff involved in the production and distribution of products, they must also implement standard operating procedures (SOPs) and safety measures within the workplace.
Constant innovation and improvement of processes within their warehouses is also expected to improve productivity and product or service quality.
Supply Chain Manager Salary: $124,686
Economist
Economists study market trends, conduct research on various areas that can affect the economy (e.g., politics, international trade, and relations, population), and use the data to recommend a course of action for clients, companies, or government agencies that may be affected. A strong background in statistics is crucial, as economists study trends and data that can span decades and extensive sampling populations.
If they are under a government office, they may also be expected to share their reports and analyses to the public in a way that can be understood by a lay audience.
Business management degree holders with a major in economics can pursue this path, and later take on a master’s and doctor’s degree in Economics, which is required for higher-level economist positions.
Actuary
Mainly working in the insurance industry, actuaries are people who assess risks and their financial consequences. They work with data on events like accidents or anything else that may involve a financial loss, and use that data to predict how much an insurance premium should be now for the company to be able to cover the economic cost of that future event. Actuaries can also be employed in the pension and healthcare provider industry.
General and Operations Manager
General and operations managers handle the administrative, personnel, and purchasing services of a company. They are expected to utilize the company’s material and human resources by creating policies, attracting talents, evaluating staff performance, and running operations smoothly, among many others.
General and operations managers cover a diverse set of responsibilities, and the focus of their work may vary from company to company.
General and Operations Manager Salary: $122,860
Corporate Investment Banker
Investment banks, private equity firms, and companies that provide financial services hire corporate investment bankers to make use of their expertise in areas like mergers and acquisitions, investing in stocks, bonds, etc., and venturing into Initial Public Offerings (IPOs). Corporate investment bankers help companies raise their capital by issuing debt and selling equity and ensure good deals for those in the business of buying and selling companies.
Corporate Investment Banker Salary: $142,500
Business Analyst
Business analysts are problem-solvers for companies and their stakeholders. Their work entails frequently communicating with the important people in the organization. They work toward resolving the organization’s financial issues.
These solutions usually involve the use of new technology and systems within a company, and thus, many business analysts become part of Information Technology (IT) departments. They are also tasked with introducing and implementing these solutions among the involved employees.
Business Analyst Salary: $104,504
Management Analyst
Companies hire management analysts to evaluate their existing procedures for managing the organization and improving or designing new processes for smooth and efficient operations. Management analysts can also recommend organizational changes, especially in cases where there are redundant or unnecessary positions.
These changes are then monitored closely by management analysts, along with the client, to determine if they are effective. Most management analysts work on a contractual, per-project basis and are sourced from consulting companies.
Management Analyst Salary: $84,965
Financial Analyst
Financial analysts are vital to a company, as they are tasked with predicting the economic impact or outcome of business decisions that they plan to undertake. Financial analysts can make these predictions by collecting and studying large amounts of data about the market, the economy, and even past financial decisions of their company.
Financial analysts’ recommendations then come from their analysis of that data. They also study the performance of a company’s various investments and look into the viability of other investment opportunities.
Financial Analyst Salary: $95,080
Business Advisor
Business advisors can either be self-employed professionals or employees under a company and usually specialize in a particular field (e.g., start-ups, IT industry). Business advisors work with their clients to grow a business in aspects like funding, networking, and navigating the industry.
They assess various plans under marketing, sales, etc., and recommend changes if needed. In other words, business advisors provide all the support required by a company, especially a new or struggling one, to grow. Business advisors are expected to have in-depth knowledge and expertise to be able to guide their clients in their industry of choice.
Business Advisor Salary: $99,887
Account Manager
Account managers handle certain clients on behalf of an organization and build strong, long-term relationships by ensuring that the clients’ needs and satisfaction with the product are met consistently. Clients are usually assigned to only one account manager for the duration of the working relationship.
Account managers work closely with other units in the company that can influence the clients’ experience (e.g., manufacturing, logistics) and act as the middleman when concerns arise from the client. Being up to date with industry trends is also a must, as clients’ needs may also change with the times.
Account Manager Salary: $132,464
Compensation and Benefits Manager
Compensation and benefits managers plan their company’s compensation packages. They are part of the Human resources department, and together, they account for and distribute personnel salaries promptly. They are also responsible for providing monetary benefits for qualified employees.
These benefits include insurance packages, retirement plans, bonuses, and other benefits the company can provide. When employees are ready to retire, they deal with the compensation and benefits manager for their retirement package. Those who suffered accidents can also consult them for their insurance policy.
Compensation and Benefits Managers Salary: $134,057
Public Relations and Fundraising Manager
One of the primary responsibilities of a public relations and fundraising manager is to raise funds for the company or organization he or she is working for. These managers are also responsible for their company’s public image.
They run brand marketing events, PR campaigns, and fundraising campaigns. They produce and manage media releases that appeal to their target market. They are also experts in brand crisis management.
Public Relations and Fundraising Manager Salary: $121,585
Entrepreneur
“Entrepreneur” is a general term for anyone managing their own business. Their “salaries” are primarily based on the nature of such company. Entrepreneurs are mostly graduates of four-year business courses. However, there are also entrepreneurs who never earned a degree but have amazing business minds.
Although most entrepreneurs manage their businesses, they can also manage other people’s business enterprises. They are the ones who plan, develop, and execute strategies. Entrepreneurs must be able to plan strategically and be highly skilled in financial matters.
Entrepreneur Salary: $10,000–$1 million or more
Personal Financial Advisor
Personal financial advisors need to earn a bachelor’s degree in either of the following fields: economics, business, finance, accounting, mathematics, or the law. If they have degrees in more than one of these fields, then that gives them a higher chance in this line of work. Having an excellent command of such areas gives them the educational advantage to succeed in this career.
Their responsibilities to their clients involve managing their client’s monetary investments, whether it’s a short- or long-term duty. They also offer their knowledge of state and federal taxes to help their clients maximize their finances. They recommend setting up goals for the ultimate purpose of securing retirement savings, pensions, investments, and insurance. Personal Financial Advisors also help their clients manage their debts.
Personal Financial Advisor Salary: $95,390
Agents and Business Manager
At just under 100k in annual salary, agents and business managers are still one of the highest paying business management jobs in the industry. To obtain a position in this field, you need to have earned a bachelor’s degree or master’s degree in business administration with a specialization in marketing. These types of managers represent performers, artists, and athletes. Their primary responsibility is to market the abilities, talents, skills, and potentials of their clients to prospective employers and production companies.
An agent and business manager’s duties include contract negotiations, career planning, research, and financial planning. As the vital link between the client and their employers, agents, and business managers are on top of their client’s schedules, tours, and other events.
Agents and Business Manager Salary: $120,100
Computer and Information Systems Manager
Computer and information systems managers are required to have a bachelor’s degree in computer science or information science as well as work experience of at least five to ten years. The job titles mostly attached to computer and information systems managers are chief technology officer (CTO), chief information officer (CIO), IT director, or IT manager.
They are in charge of supervising computer-related activities in the company. That’s why CEOs or the board of directors choose master’s degree holders with more than ten years of work experience. Their duties include analysis of technology needs, execution of computer and information systems, and ensuring system security. They are also responsible for the other IT professionals within the company.
Computer and Information Systems Manager Salary: $164,070
Human Resources Manager
Human resources managers need to have at least a bachelor’s degree in a human-resources field such as psychology. That is the minimum requirement, but most HR managers have master’s degrees with years of experience working in the field. Their primary responsibility is to be the liaisons between the management and the employees.
Although one person can be fully capable of fulfilling the tasks of an HR manager, large companies, corporations, or organizations appoint specific HR managers for recruitment, staff management, training, and development, and other employee-related programs within the company—forming sub-departments within the organization’s human resources department.
Human Resources Manager Salary: $130,000
Health Services Manager
Health services managers are required to have at least a bachelor’s degree in health services, healthcare management, care administration, public health, or public administration. However, most companies choose to appoint those who have master’s degrees with years of field experience as health services managers in order to obtain one of the highest paying business management jobs in this career. They are in charge of heading the operations in medical facilities, clinics, or health departments.
The duties of health services managers include employee supervision, schedule planning and management, record keeping, and budget management—among others. They are also known in the medical and health services industry as healthcare executives, health care administrators, or healthcare managers.
Health Services Manager Salary: 104,830
Administration Services Manager
Administration services managers are needed so that the everyday operations of their client’s business can run smoothly. They are in charge of facility management tasks, materials scheduling, as well as other organizational areas in their company or organization. The primary duties of administration services managers include allocating office space, updating equipment, supervising business-related operations, ensuring that contracts are being followed, and preparing transportation services.
They also supervise support services, grounds maintenance planning, and schedules, security system implementation, and many others. They are appointed so that administrative works are managed and executed efficiently, ensuring the maximum performance of the company or organization.
Administration Services Manager Salary: $103,330
Promotions Manager
One of the main goals of promotions managers is to increase the sales of their company, organization, or client. Their main task is directly related to advertising. They are the ones responsible for designing promotional materials for their company, including posters, events, and social media content—among other strategies.
They also plan and execute advertising campaigns that often run for months and demand a large budget from the company. Since these ad campaigns are often expensive, promotions managers need to ensure that the company will get a welcome return on investment. It is also their responsibility to study the results of their campaigns and analyze the factors of their success or failure.
Promotions Managers Salary: $127,830
Elementary, Middle and High School Principal
In general, the responsibility of a school principal is to ensure that things run smoothly in the educational institution they are managing. Their specific duties are varied and often require patience and excellent people skills.
Their primary responsibilities include management and supervision of the teachers and student body, staff evaluation, and campus safety and security. Their more community-based responsibilities include dealing with the parents, representing their school to the public, and being the school’s spokesperson for their community.
Their salaries often differ depending on which district or city they are in. Principals who work in schools within small rural areas or large regions in the town often receive lower salaries than those who work in schools within affluent suburban neighborhoods.
School Principal Salary: $101,320
Lodging Manager
Employees are required to earn a bachelor’s degree or a master’s degree in hospitality or business administration before they are qualified to be lodging managers. Generally, lodging managers are responsible for the smooth management, safety, and steady profit of their lodging establishments. Although this isn’t one of the highest paying business management jobs available, it is nonetheless a high paying career with lots of perks and excitement!
They need to tend to their guests in the most professional way, making sure that all the amenities they provide are working correctly. One of their primary duties is to hire and fire employees and workers. When there is not enough staff, sometimes they are also responsible for advertising campaigns for their lodging establishment as well as planning and executing interior designs.
Lodging Manager Salary: $61,910
Food Service Manager
Food Service Managers often work in restaurants, hotels, school cafeterias, entertainment establishments, large companies, and any other organization, where someone needs to take care of the food services for a large number of people. Foodservice managers are tasked to make sure that the dining facility they are managing is running smoothly and efficiently.
They are responsible for preparing the food items as well as supervise the employees under their management. Their duties include inventory management, employee work schedules, event and catering schedules, handling of customer complaints, paperwork, and training new workers—among others.
Food Service Manager Salary: $61,310
Property, Real Estate & Community Association Managers
The minimum requirement for a property, real estate, and community association manager is a high school diploma with one to five years of work experience in the field. Although most employers go with candidates, who have certification and license. Their primary responsibility is to supervise and manage the operations of residential and commercial properties.
Their duties include buying and selling property, renting property, hiring and supervising ground staff, and other property maintenance requirements. Community association managers are also known as property managers, homeowners’ association managers, leasing managers, and resident managers.
Property, Real Estate, and Community Association Manager Salary: $60,670
Frequently Asked Questions
What does a job in Business Management entail?
A job in Business Management typically involves overseeing and coordinating the activities of a company or organization to ensure its smooth and efficient operation. This may include managing finances, creating and implementing business strategies, supervising employees, and making decisions that impact the overall success of the business.
Some specific tasks that a business manager may be responsible for include:
- Setting goals and objectives for the company and developing plans to achieve them.
- Managing the budget and financial resources to ensure profitability.
- Hiring, training, and supervising employees.
- Delegating tasks to team members and overseeing their work.
- Analyzing market trends and competition to make strategic business decisions.
- Developing and maintaining relationships with clients, suppliers, and other stakeholders.
- Ensuring compliance with laws, regulations, and ethical standards.
- Solving problems and making decisions to resolve any issues that arise.
- Monitoring and evaluating the performance of the business and making necessary adjustments.
- Communicating with various departments, teams, and individuals to align goals and ensure effective collaboration.
- Managing projects and initiatives to achieve specific objectives.
- Representing the company in meetings, conferences, and other business forums.
- Collaborating with other managers and executives to develop and implement overall business strategies, and much more.
What are the five qualities a Business Manager should have?
- Strong leadership skills: One of the most important qualities of a good business manager is the ability to lead and motivate their team. They should be able to set clear goals, delegate tasks effectively, and inspire their team to work towards achieving success.
- Excellent communication skills: Effective communication is crucial for a business manager. They should be able to communicate clearly and effectively with their team, upper management, clients, and other stakeholders. This includes listening actively, giving feedback, and handling conflicts.
- Strategic thinking: A successful business manager must be able to think strategically and make decisions that align with the company’s long-term goals. This requires a deep understanding of the business, industry trends, and the ability to analyze data to make informed decisions.
- Adaptability and flexibility: The business world is constantly evolving, and a good manager must be able to adapt to changes quickly and adjust their plans as needed. They should also be able to handle unexpected challenges and find solutions to problems.
- Financial management skills: Business managers need to have a solid understanding of financial management, including budgeting, forecasting, and managing finances. They should be able to make sound financial decisions that contribute to the overall success of the company.
Is a graduate degree necessary for career advancement in Business Management?
A graduate degree in business management is not necessarily necessary for career advancement. However, it can provide individuals with specialized knowledge and skills that may set them apart from those with only undergraduate degrees.
Additionally, certain industries or higher-level positions may require a graduate degree in business management for advancement.
Ultimately, the importance of a graduate degree in business management for career advancement will depend on the specific industry, job market, and individual career goals.
Conclusion
High paying business management jobs can provide you with a lucrative living, as well as job security. So, what are you waiting for? If you are stuck in a rut, need a higher salary, or would just like a management position, we hope this list has helped you think about a career goal.
Achieving your dream job provides satisfaction like no other, and finding one that you truly enjoy is priceless. Get started now!
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