Candidates for upper business management face stiff competition.
Business managers oversee the working functions of a company or corporation and contribute to the overall efficiency. They earn a combination of salary, commission, bonuses and profit sharing, according to PayScale. As of 2010, half of all business managers report working an average of 40 hours a week, says the U.S. Bureau of Labor Statistics.
Average Salary
According to PayScale, as December 2010, business managers earn between $40,000 and $74,000 annually on average. Bonuses add anything between $1,000 and $10,000 to this amount, and commission can add as much as $24,000 a year. Managers who reported earning profit-sharing bonuses added another $2,000 to $8,000 a year to their incomes.
Salary by Experience
According to the wage information on PayScale, a manager's income is directly related to his years of experience in the field. For example, as of 2010, a manager with less than a year in the industry can make between $28,000 and $50,000 a year, whereas a manager with 10 years' experience can make $85,000. Managers with as many as 20 years' experience report earning as much as $100,000 a year.
Salary by Employer
Who a business manager works for impacts his bottom line, according to wage information provided by PayScale. Managers who work for the federal government tend to earn the highest wages, as of 2010, with annual income reaching up to $126,000 a year. Managers at non-profit organizations report making $54,000 a year, and managers at hospitals report earning $71,000 a year.
Job Outlook
The U.S. Bureau of Labor expects this career field to grow by 12 percent between 2008 to 2018. Because of the slow economy, companies are realizing the need for effective and efficient managers who can cut operational costs. A candidate with at least an associate's degree increases his chances of being hired.
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