Highest Paying Jobs in Management
Jobs in management will set you on a path to becoming the boss. Typically, managerial positions range from the front-line supervisory positions to the Chief Executive officers (CEO). Then in between these two are managers of managers, general managers, sales managers, project managers, operational managers, product managers and other managerial positions with diverse titles. Each of the managers is faced with a unique set of responsibilities.
What are the jobs in Management?
- Frontline supervisor: frontline supervisory roles are mostly for entry level professionals. They guide the team members under their care and make sure that they complete their tasks in alignment with the organization’s standards and targets and doing so within a specified timeframe. He or she also is involved in the training, coaching, disciplining, as well as hiring and firing of the employees within their jurisdiction. A frontline supervisor reports to a manager ahead of him.
- Functional manager: a functional manager is responsible for wider range of roles, processes and people. He is involved in business reporting, planning activities and people-related issues. There are a number of frontline supervisors reporting to him. However, he is also reporting to another supervisor ahead of him.
- Senior managers and directors: they are responsible for a number of activities. They invest a great portion of their time developing and translating strategies and goals into programs. They head numerous departments and groups as well as are accountable to the vice president of the organization.
- Vice president: the vice presidents are the high-ranking executives in an organization and this is one of the top most or highest paid jobs in management. Their duties are multifaceted – from sales to marketing to IT to finance to engineering. The vice president, despite his position, reports to the CEO or president of the organization. They also work with other senior executives to form and implement strategies and make sure activities of the organization align with the vision and mission statements.
- General manager: a general manager is a mini CEO and is accountable for everything that goes on in a line of business. He also takes part in strategies, talent, decision-making and operating results of the organization. Even though he is a mini CEO, he often reports to the CEO or the corporate group.
- Product managers: product managers are responsible for one or more products or services generated by the organization. They take decisions around marketing features, pricing, packaging and promotion of the products and services. The job is not people-oriented and focus only on products.
- Project managers: like their title, they ensure the smooth-running of all the projects in the organization. They are also not-people oriented, though they are involved in coaching, helping and developing people for the right project.
What management jobs pay the most?
Management jobs are financially rewarding and there is a wide range of salaries for them. Below are the Highest Paying Jobs in Management.
- Chief Executive
The chief executive is responsible for planning, coordinating and overseeing activities of the organization. They must ensure that the company reaches its targets. They could be found in diverse private and public sectors.
Chief executives work extremely long hours with very demanding roles and that could be why they are the highest paying. The success of the company depends, to a great extent, on how the chief executive performs his duties.
According to the Bureau for Labor Statistics, the median annual salary of a chief executive job role is $185 950.
- Computer and information Systems Manager
Also known as information technology managers, computer and information systems managers perform the duties of planning, coordinating and overseeing technology-related issues of the company. The information and technology needs of the company are overseen by the IT managers. They implement programs that would ensure or attempt to ensure that these needs are met.
In addition, the IT managers make sure that the organizational needs of the team members are met as well as ensuring that they carry out their duties judiciously. Any field that relies heavily on information technology needs these managers to set the pace for them.
Over five years of working experience with the IT and computer management firms, in addition to holding a bachelor’s degree in related fields is required for this position.
The median annual salary for computer and information systems managers is $151 150 as reported by the BLS.
- Administrative Services Managers
The administrative services managers are there just for their client’s business. They ensure the smooth running of their client’s businesses. It is their duty to oversee facility management tasks, schedule materials and handle every other area of the organization.
In addition, they create contracts, making sure they are followed through, update equipment, and plan workspaces. Administrative services managers are also in charge of other staff members’ activities to make sure they carry out their duties effectively.
The median annual income of an administrative services manager is $94 020.
- Advertising and Marketing Managers
They work to generate interest in a product or service for a brand or company. They handle the campaigns of the organization, as well as work together with sales managers and financial professionals within the organization to enable them to carry out a successful operation.
To attain the position of an advertising and marketing manager, you will need a bachelor’s degree in advertising or marketing as well as some level of work experience in the field.
The median annual salary for these professionals is $129 380.
- Engineering Managers
The job of the engineering managers is to supervise and lead lower level engineers. They also develop, test, modify and create solutions to technical issues in the organization.
For the most part, they direct and coordinate production, oversee research projects, create goal achievement plans, negotiate research contracts as well as develop new product concepts. When these are done, the engineering managers write a review of all their activities and performances under their watch.
To become an engineering manager, you will need more than a bachelor’s degree. Some years of work experience plus a master’s degree will be appropriate.
Their median salary is between $119 290 and $147 751 per year.
- Construction Managers
Often referred to as a foreman, a construction manager oversees a construction project, ensures it gets completed on time as well as meets the standards and preferences of the owner. While the construction is going on, the safety of the construction workers and other people within the environment is put into consideration.
A construction manager usually takes part in the actual construction of a structure. The structure could be buildings, roads, bridges and related structures. They create the work schedules of the workers, read blueprints, order materials, plan projects and more. This line of job could be carried out by anyone, irrespective of their academic background. However, the management position requires not less than five years in work-related fields.
- Financial Managers
Financial managers can be mainly found in financial institutions, both the private and public sector, particularly government agencies. They provide an array of duties including advising and supporting their clients in taking the right financial decision. With their help, their clients make a sound financial choice.
That aside, they develop long term business or investment plans, interpret financial information, minimize financial risks, analyze the market trends, develop and manage budgets and conduct audits. They also produce financial reports and manage the cash flow of the organization.
To become a financial manager, you will need a bachelor’s or master’s degree in finance. The median annual salary is $139 780.
- Human Resource Managers
The human resource managers are in charge of recruitment of new employees, training them and assigning them their appropriate roles. They are also involved in other administrative tasks including book-keeping, payroll and compensation duties that take place within the organization.
They constantly ensure that the employees comply with the acceptable conduct, as well as the labour law and rules and regulations guiding the organization.
Human resource managers earn a median annual salary of $101 596.
- Medical and Healthcare Service Managers
Primarily, medical and health service managers ensure that healthcare facilities provide effective care for their patients. They are not confined to working in the hospitals alone. They could work in substance abuse rehab centres, urgent care clinics, and related organizations.
A medical and healthcare services manager could be in charge of an entire facility or just involved in supervising a given department within the organization.
You will need at least a bachelor’s degree in health service administration. Notwithstanding, earning a master’s degree will increase your chances of getting a job in this position, and also boost your career and salary rate.
A healthcare service manager earns an average of $112 600 per annum.
- Natural Sciences Manager
A natural science manager is involved with overseeing and supervising the job of researchers and scientists within the same organization. The biologists, chemists and physicists in the organization report to the natural science manager.
Additionally, natural science managers coordinate events and activities such as testing, production and quality control. Most of these professionals are extensively involved in hiring researchers and scientists who work full-time in the organization.
To become a professional manager in this field, you will need a bachelor’s degree in science and related fields. The average yearly salary for a natural scientist is $120 160.
You might also like: Top 10 Highest Paying Freelance Jobs Today
Duties of a manager
Individual managers are focused on diverse roles, depending on their level in the organization and what the organization stands for. Below is a wide range of roles that a manager can fit into:
- To hire and develop the right employees for the team.
- To guide the team members as they pursue their individual and team goals in the organization.
- To drive profitable revenues for the organization as well as manage costs and budget.
- To make the work environment conducive for every team member.
- To develop report and monitor key performance indicator, while sharing the outcomes and actions.
- To pursue new initiatives and work across functions.
- To resolve disagreements and arguments among team members.
Other highest paying jobs recommended for you
Jobs in management are numerous. Managers are involved in different levels and positions in the organization and are almost involved in the duties of every team member under their level and ensure that everyone is carried along while carrying out an effective duty. These professionals deserve to be paid heavily in