Careers in Management
Management professionals have honed the theory and practice of management. Usually applied in a business context, a manager oversees a team of employees in an effort to maintain an overall goal and also oversees production. Managers may work within a large hierarchy in a global company, or they may manage small teams of employees that make up one entire business or store. In basic terms, though, a manager is the link between employees and overall business goals.
Managers are often involved in recruiting, hiring, and firing employees. They are also the go-to contact for their employees when it comes to communication about productivity, salary, and general job satisfaction. Managers often report to superiors, such as upper-level managers, business owners, presidents, CFOs and CEOs. Anyone working as a manager needs to have an equal understanding of personal relationships, workplace psychology, and business practices and goals to succeed.
Salaries for managers can vary across the board, depending on the level of management entailed in a particular position, the company doing the hiring, and the current global economy. The U.S. Bureau of Labor Statistics (BLS) reports median salaries of $42,000 to $119,000 for managers in 2010, and positions are expected to increase at a rate close to the national average for all occupations.
Required Education for Management
Depending on the industry and chosen career path, people can become managers in many different ways. Some start with no education and work their way up until they reach a management position. This is most common in service and retail industries. Another way to become a manager is by securing an associate degree and directly applying for a management position in a service, retail, or similar industry, without working up the ladder. This could also be possible with a bachelor’s degree in management, but those who pursue bachelor’s degrees will also have more opportunities in higher-paying and more selective industries.
Management programs at all levels will include course work in areas such as telecommunications, statistics, business, economics, finance, accounting, managerial psychology, operations management, organizational psychology, managing innovation, and communication. Course work will prepare students to lead a group effectively, support teammates, analyze workflow, and perform all other duties of traditional employee management.