What can you expect from a business management salary?
A business manager exists in a company to oversee and supervise the operations and employees. Looking at a business management salary requires looking at the position and the experience of the manager first. But before that, we will consider the function and duties entailed in the role.
What does a business manager do?
The main role, from a broad standpoint, is to ensure things systems are not only working as they should, but also that they are streamlined and running as smoothly as possible. The more efficient operations are in a business, the more the task force and the management team has the time to focus on building and working on new products and projects.
The main role of the business manager is to manage individuals in the company and lead them to perform in their roles with the best resources available.
The responsibilities of a business manager
While the business manager wears many hats, the overall responsibility is over the management of the business. This doesn’t mean owning the business, necessarily, but it takes a great number of responsibilities into account. To ensure the business is set up for the best chance of success, the business manager should:
- Establish and look for new opportunities to grow in both the current market and possibly other markets while maintaining the focus on the best-performing products and services.
- Consider and constantly evaluate and check-in with whether systems are aligned with the company’s goals and objectives.
- Hire, recruit and develop new employees.
- Train and upskill current employees for both their benefit and for that of the company.
- Perform regular evaluations of the systems in place to identify any problems which need resolving or to pinpoint where there might be areas of improvement needing to happen.
- Craft and put business strategies into place to meet the needs of the employees designed to achieve the goals the company has set out.
- Develop and stick to a reasonable and comprehensive budget while ensuring or delegating regular budget analysis and resource evaluation.
How much do small business managers make?
Business management salary and how much a business and operations manager might make depends on several things. The average salary depends on the role and position, the industry and the experience of the manager.
On average, however, the salary of a business owner or operations manager according to PayScale is R430,000 per year. This, at a base average salary, is around R36,000 per month before tax.
At the following levels you might expect the following:
Junior level business management: R201,000 per year//R16,750 per month
Early career in business management: R356,000 per year//R29,660 per month
Mid-level business management: R443,000 per year//R36,900 per month
Experienced and senior-level business management: R558,000 per year//R46,500 per month
To get to a senior level takes years of work and effort and upskilling in your career. Taking short courses in business management is one way to rapidly increase your skills and get the opportunities to gain more knowledge in your field. If you want to progress in your career and earn professional promotions, taking advantage of opportunities to learn is an excellent way to put your career in good stead.
Is business management a good career?
As a broad position, having a business management career can set you up for work in any field and industry depending on your experience. If managing individuals and exploring ways to improve systems and find efficient ways of managing operations, then a business management career is perfect for you. From a financial perspective, earning a business management salary can be extremely lucrative depending on your industry, your experience and your expertise.
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