Retail Management Job Overview Retail managers oversee employees and job operations in shops that sell retail ...
Retail Management Job Overview
Retail managers oversee employees and job operations in shops that sell retail merchandise, such as furniture, clothes, computers, or other goods. In addition to supervising the work of the store's employees, they also oversee the overall operations of the store and help customers with their needs. They field customer complaints and try to solve any issues amicably.
Often, retail managers are solely in control of hiring and firing decisions at a store. They screen potential applicants and interview them. Once hired, they train workers and provide feedback to each employee regarding his or her individual performance. Those in retail management jobs also must shoulder the responsibility of analyzing the financial data and sales figures at the store, and they work with sales team members to increase sales and maximize the company's profits.
Retail Management Job Education Requirements
Some people are able to work their way up from sales positions to managerial work, but most retail managers have at least a bachelor's degree in business, marketing, economics, mathematics, or management. Degrees in a related field will be seen as acceptable for some employers. Those who hope to rapidly work their way up to retail management jobs should pursue a master's degree in management or business. Other positions that candidates may want to consider include
Retail Management Job Market
The estimated growth rate for retail management jobs is a steady 8 percent. While that rate doesn't show a likelihood of quick growth in the number of retail management jobs available, it is about as fast as the average growth rate for all other jobs. Since some jobs are seeing a decrease in job growth, this is promising for those who aspire to be retail managers. Sales managers who oversee business-to-business transactions are likely to be more in demand than those who oversee business-to-retail stores.
Retail Management Job Salary Information
People who are employed in retail management jobs can expect to earn approximately C$40,000 per year. Some managers may earn more, while a significant portion of retail managers earn less. However, that's before monetary perks that these managers also receive, which may include profit sharing, commissions, and bonuses. When the perks are added in, some retail managers can expect to earn well over C$60,000 each year.