Management Degree Average Salary
Many colleges across the United States offer management degree programs. These programs can be expensive, but the advantage is that after you graduate, you’ll be eligible to receive a much higher salary in this field. Just how much money you can make in this career field depends on a number of factors.
First, the type of job you get when you graduate can dictate the salary you’ll receive. According to PayScale, some of the management degree average salaries you can expect include the following:
- General Operations Manager: $47,644 – $86,250
- Construction Project Manager: $48,880 – $82,272
- Human Resources Manger: $50,191 – $71,133
- Retail Store Manager: $34,170 – $58,327
- Office Manager: $35,069 – $47,941
Fields where demand is high, such as healthcare or environmental science, also demand high salaries. For these careers, your degree may have to be more specialized. Often, employers look for a specific degree, like healthcare management, rather than just a general management or business management degree.
Location also plays a major role. You can, in general, expect to make more money as a manager in any industry if you live in a city, rather than in a more rural area. However, keep in mind that living in a city also means cost of living is higher, so you’ll spend more money on rent, transportation, and other living expenses, so do your research to find out where you’ll profit most overall. Some of the states where you can expect higher management salaries, in general include the following:
- California: $63,303
- New York: $55,505
- Texas: $52,938
- Illinois: $52,420
- Pennsylvania: $51,762
All of the above figures, for both job titles and locations, are based on the fact that you’d have a bachelor of science in management. You can earn even more if you get your master’s degree in the field. For example, with a master of science in management, you can expect to make an average of $58,410 as a starting salary, and even more with experience. In this field, it isn’t uncommon to make a six-figure salary, and even better, it isn’t uncommon to be eligible for fulfilling jobs where you can actually make a difference within your company and even within your community.
Keep in mind, though, that you can also get started with just an associate’s degree in management or a related field. These two-year degrees won’t make you eligible for the top jobs in your industry, but they will allow you to start working more quickly, and you have the options to go on for a higher degree in the future. Sometimes, employers will even pay for your advanced education.
How can you make even more money? With a degree in management, you already command a fairly high starting salary, but you can be eligible for more money by participating in certification programs specific to your industry for more specialized education. You can also earn more by being a model employee, which puts you at the head of the line for a promotion or pay raise.