Business managers supervise employees to ensure an efficient operation. They need at least a working knowledge of business components such as sales, public relations, research, data processing, accounting and budgeting. Business managers need good people skills to interact with employees, customers and owners. A business manager's hourly salary depends on several factors, including experience, geographic location of the business, and type of industry.
General business managers work for public or private sector organizations, planning, directing, or coordinating all facets of these operations. The mean hourly wage for general and operations managers was $55.22 as of May 2012, according to the Bureau of Labor Statistics. The mean hourly wage for those in the 10th percentile in the BLS sample of 1,899,460 managers was $22.54 while business managers in the 90th percentile made $90 or more per hour. Those in the middle of the group made a mean hourly wage of $45.88.
Business managers specializing in the financial industry tend to be better compensated than general business managers. As of May 2012, the mean hourly salary of the 484,910 finance business managers surveyed was $59.26. The mean hourly wage for those in the 10th percentile was $28.67, compared to more than $90 for those in the 90th percentile. The median wage of this group was $45.88 per hour.
Food Service Managers
Food service managers in restaurants are among the lowest paid in the occupation. The 189,510 surveyed by the BLS reported a mean hourly salary of $25.28. Those in the 10th percentile averaged $14.82 while those in the 90th percentile averaged $38.96. The median salary for this group was $23.06 per hour.
Demand for management occupations in general is expected to grow by 7 percent through 2020. This compares to an expected growth of 14 percent for all other occupations included in the May 2012 survey. Growth for specific types of business managers, such as administrative services managers, is expected to be greater than 15 percent.
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