With high progression opportunities and well-paid graduate roles, the business management sector is not to be slept upon! If you’re a student interested in the industry, or a fresh graduate looking for the first step on the ladder. We take an in-depth look at business management salaries from entry-level to senior to find how much you could earn as a graduate and beyond.
Business management salaries
The average business management salary in the UK is £37,000. But, as you’ll discover, this is dependent on your work location, company, responsibilities you hold and the potential impact you could have. Business managers are employed directly from firms who need them, or you may look into roles through a consultancy firm. They may sound similar, but it’s important to understand the differences between Management in Business and Management Consultancy.
Entry-level business management salaries
Retail managers do everything, from training new staff, dealing with customer complaints, overseeing stock control to meeting sales targets every week. If you already have retail or customer service experience, you can apply for a retail supervisor role that offers a salary between £19,000 - £23,000.
An entry-level business development manager with one year's experience can expect to earn between £21,000 - £25,000. You can work your way up to a business development executive role that oversees the business function as a whole, as opposed to running the business and managing employees. You can break into business development with a degree in a relevant subject, such as Economics and business management, followed by a graduate scheme. Or, you can take on a hands-on approach with an apprenticeship ranging from levels 2 to 7 - equivalent to a Masters degree.
Businesses in any sector need project managers. Project management roles and salary are dependent on what sector you specialise in. The average salary of a junior project manager is £29,000, which will increase if you move up to the project manager. Learn the top skills for a career in Management.
Can you implement new strategies?
Supply and operations management is concerned with the product performance and processes of the business’ goods or services. To get into this area you can gain a foundation degree, Higher National Diploma or a degree in subjects like finance or supply chain management. Top firms like Bosch and Premier Foods offer high-quality graduate schemes that can launch your career even further. At entry-level, a supply chain manager or buyer can earn from £24,000.
Business advisors can take a small startup company, and turn it into an established, well-known business. With responsibilities like preparing budgets, evaluating sales, working with the marketing team and designing branding strategies. Junior business advisors benefit from degrees in finance, business management or economics, or relevant BTEC qualifications. You can expect to make a starting salary from £21,000 to £26,000.
But, upon graduation or completing professional qualifications, you may not go straight into the HR manager role. With a relevant degree (Business Studies, HR), expect to start at administrative roles like HR assistant, associates and representatives, earning from £21,000 to £25,000.
Mid-level/senior business management salaries
You can get into retail management through working your way up the ladder, a business-related degree or a college course in retail skill management. Retail managers will take home roughly £25,000 up to £38,000. Remember, the more pay you receive will be dependent on your responsibilities, the number of employees you oversee and the level of impact your decisions can have on the business and its profits. See the leading graduate employers in Business, Management and Operation.
Depending on your experience, work location, qualifications and company size, the average salary of a business development executive is £40,000. Learn what kind of business management roles there are. Similarly, more experienced advisors can earn up to £39,000, with the highest going up to the million marks for economic advisors. However, not all advisors earn full-time wages because part-time work is common in this field and sometimes business advisors are only employed for a short fixed-term contract.
Responsibilities of a supply chain or operations manager include designing or researching new operation strategies, monitoring stock levels and planning delivery timetables. Coming from a junior supply chain manager you can earn up to £35,000 when you move to executive or analyst roles. For operations, a junior operations manager can expect to earn roughly £30,000. Learn what is Operations and Supply Chain management.
Human resources managers have responsibility for tasks including payroll, recruiting new talent and designing or carrying out employee training. The average salary for an HR manager is £35,000. You can work your way up to mid-level and senior roles like HR manager and HR director who have salaries starting at £48,000 to £78,000.
Mid-level to senior project managers earn from £54,000 to £75,000, especially working on a long-term and important business project. You can get into project management through a business degree or a degree related to the specific area you look into. Or, management apprenticeships are available for several roles like project coordinator etc.
Now you’re up to date with the latest business management salaries, browse graduate jobs in Management and Business and apply today!