Jobs in Management with Specializations and Career Scope

Good managers are not born; they are made. Nothing can be more authentic than this seminal statement which derives from Vince Lombardi’s quote- Leaders are made, they are not born. It requires hard work, training, and requisite education to reach the top of the heap in an increasingly competitive corporate world. To that end, here is an overview of the top jobs in management, expected management salary structures, specializations, and a lot more. Whether you’re an entrepreneur or corporate hotshot in the making, here’s what you need to know to start your journey toward becoming a good manager. 

Why Choose Management?

There are a plethora of reasons to choose management as a career. Here’s looking at some of them: 

• Employment Growth- There will be more career opportunities in management in times to come as per the forecast by the U.S. Bureau of Labor Statistics. Jobs in the Management field are forecasted to increase by 8% between 2021 and 2031, which is quicker than the average for all professions. The Bureau estimates 883,900 new jobs to be created throughout this decade with 1.1 million openings to be generated annually taking replacement and growth requirements into account. 
• Attractive Salaries- Not only is the management scope vast in terms of future growth prospects, but you can also expect to earn lucrative salaries in the field. The median annual wage was $102,450 in May 2021 as reported by the BLS, the highest for all occupational segments and substantially more than the median annual wage of $45,760 in the country. The positions and  salaries in this field are bound to grow by leaps and bounds in the coming years, which corresponds to more opportunities.
• Career Advancement- There are multiple career options in management, spanning diverse fields and specializations. They can help you advance your present career, leading to leadership positions in the future. If climbing the ranks is what you desire, a degree in management is the best way forward, particularly to qualify for better and bigger opportunities. 
• Universal Relevance- Managers will always be in demand across industries,  right from manufacturing and production to IT, sales, marketing, human resources, medical and health services, advertising, media and public relations, and higher education. Every industry needs capable leadership to grow, sustain, and pave the way for future progress. Hence, you can choose specializations that are applicable across business sectors or go for a niche field. It is all up to you. 
• Helpful for Entrepreneurs- Management education also works wonders for would-be-entrepreneurs or those looking to start businesses in the future. From gaining invaluable business skills to knowing how to build and market your business successfully, management education can be a transformative experience for you. 

Management Specializations

As mentioned earlier, the management scope is vast, with multiple specializations available. Here are a few that you can consider: 

• General Management- It is a popular field of study, encompassing transferable industry skills that can be applied in any industry, right from systems to marketing and human resources. 
• International Management- International management is ideal for those who wish to work abroad at leading companies. It teaches vital finance, operations, and strategy skills in a global context. 
• Strategy- There are highly specialized management programs that teach students the nuances of decision-making, risk management, planning, consulting, and other skills that are highly valued across industries. 
• Consulting- Management consulting is a highly coveted global skill, enabling students to help clients manage their enterprises better and successfully. 
• Finance Leadership- Those focusing on finance should go for programs that combine leadership education with financial expertise. Accounting, statistics, analysis, and many other crucial items will be covered by these programs. 
• Entrepreneurship- This sphere of management education will help people build start-ups and gain vital skills to securing funding and pitching their ideas. 
• Marketing- Specializations in marketing and advertising will help learners successfully build brands, create marketing campaigns, communicate better with customers and promote services/products. 
• Operations Management- This field is all about organization, planning, and management of production for scaling up overall efficiency. Those interested in logistics or supply chain management may consider these programs. 
• IT Management- This is another field that is gaining popularity amongst students. It covers design, UX, technology flow, data movements, and more. 

Top Career Opportunities after Management

While there are innumerable kinds of jobs in management that graduates can apply for, a lot depends on your specialization and core interests. Here are a few opportunities that you may want to look at: 

• Management Consultants- These professionals earn $84,963 annually in the U.S. and £46,904 in the UK, helping companies enhance their market performance and resolve issues. In this position, you will leverage your knowledge and skills to advise businesses on their structures, strategies, operations, and management. Your duties will also include extensive data gathering, research, analysis, problem identification, reports, presentations, etc.
• Production Manager- Average salaries in the field stand at $68,227 in the U.S. and around £34,618 in the UK. The job involves taking responsibility for coordinating, planning and technically managing production/manufacturing operations. Other responsibilities include dealing with material and human resources, budgeting, complying with quality standards, and upholding health and safety standards. 
• Project Manager- Average annual salaries hover around $71,944 in the U.S. and £37,917 in the UK. These professionals deliver projects within budgets through organizing resources, individuals, and duties. They work in almost every industry, while their duties also include supplier/contractor negotiations, progress tracking, and reporting to the senior leadership. 
• Social Media Manager- These managers earn around $49,015 in the U.S. and £25,247 in the UK, taking care of digital promotion and marketing campaigns, strategies, communication, marketing, and more. 
• Risk Manager- Risk managers earn handsome salaries ($83,651 in the U.S. and £50,108 in the UK), and their duties include the identification and assessment of potential risks, reputation management, corporate governance, enterprise risk, and more. 
• Client Services Manager- Development and implantation of customer service processes and training. Duties also include client communication and resolving inquiries. They earn $55,222 per year on average. 
• Human Resource Manager- They earn up to $69,206 per year or more, taking care of employee recruitment, termination, training and development, payroll, governance, onboarding, interview coordination, and more. 
• Business Manager- These professionals earn median salaries of $63,999 per year, and their responsibilities include the supervision and management of companies, operations, employees, and assets. 
• Marketing Manager- Marketing managers earn median salaries of $61,136 annually, taking care of various promotional, marketing, and advertising-related tasks. They also drive sales and onboard more customers, heading teams of marketing specialists. 
• Logistics Manager- Logistics managers earn median salaries of $61,227 per year, taking care of goods storage, distribution, transportation coordination, stock management, and compliance with safety standards for employees. 
• Management Analyst- Management analysts earn median salaries of $77,523 per year, and their primary job is to lower costs and scale up revenues for higher organizational efficiencies. 
• Director of Operations- Average salaries for directors of operations stand at around $94,692 per year. They take care of the organizational growth and profitability blueprint while managing departments, production, and staff members. They also set business goals and supervise daily operations. 

Top Recruiters for Management

Here are some of the leading recruiters of management graduates: 

• Google
• EY (Ernst & Young)
• Apple
• Goldman Sachs
• Deloitte
• KPMG
• Microsoft
• PwC (PricewaterhouseCoopers)
• JP Morgan Chase
• L’Oreal
• Morgan Stanley
• McKinsey & Company
• Procter & Gamble
• The Boston Consulting Group (BCG)
• Sony
• BMW
• Unilever
• Johnson & Johnson
• IKEA
• Nestle
• Accenture
• LVMH 
• PepsiCo
• Citi
• Barclays
• General Electric
• HSBC
• Grant Thornton
• Heineken
• Daimler AG
• Volkswagen
• Credit Suisse
• Intel
• Anheuser-Busch InBev
• UBS
• Toyota
• General Motors
• Shell
• Samsung
• Dell

Management Jobs & Salaries

Here are a few of the highest paying jobs in management and their average salaries: 

• Store Manager- $43,775 per year
• Food and Beverage Manager- $48,221 per year. 
• General Operations Manager- $56,458 per year. 
• Public Relations and Funding Manager- $59,442 per year. 
• Training and Development Manager- $67,513 per year. 
• Marketing Manager- $61,136-$67,911 per year. 
• Human Resources Manager- $71,517 per year. 
• Sales Manager- $76,204 per year. 
• Construction Manager- $81,457 per year. 
• Project Manager- $71,944-$83,690 per year. 
• Compensation and Benefits Manager- $94,712 per year. 
• Computer and Information Systems Manager- $97,797 per year. 
• Financial Manager- $101,862 per year. 
• Medical Manager- $102,059 per year. 
• Tax Manager- $108,780 per year. 
• Chief Executive Officer- $109,906 per year. 
• Architectural and Engineering Manager- $124,804 per year. 

Conclusion

As you can see, jobs in management are abundantly available worldwide, while there are numerous specializations for you to choose from. No matter what educational and professional stage you are at, it is always a good time to pursue education and a future career in management.