Operations Manager average salary and fields that require OM
Almost every kind of business or organization would find the position of an Operations Manager a necessity. But how much can an Operations Manager can earn? Which industries or sectors are considered more lucrative than the others? Let’s take a look at the answers for both these questions.
Salary packages drawn by Operations Managers:
Operations Managers are highly responsible people who have to report to the highest departments, and work in tandem with all other departments. They are answerable to the managing board, the clients and customers, and even to the employees of the organization. Therefore, it comes as no surprise that Operations Managers are one of the most highly paid professionals in any given industry. The salary of an Operations Manager can range from approximately $44,000 to $150,000 per annum. The median salary for operations managers in the United States, as of September 2008 is $89,710 annually. The middle 50 percent of American operations managers made between $76,653 and $102,767 in the same year. These base salaries do not include benefits supplied by many employers such as health & dental insurance, sick leave, paid vacation, life insurance or a retirement savings plan.
In addition to obvious factors such as insurance and benefits, there are also a lot of aspects like the reputation and position of the company in the global market that can affect your salary. The sector in which the company is involved in, the roles and responsibilities entrusted to the Operations Manager are also valuable factors. The experience, qualification and skill set is also considered when determining Operations Manager salary. Even the area or city where the company is located can play a role.
Where are Operations Managers in demand?
Now that you know about the salary that an Operations Manager can be expected to take home, let’s see what the industries that look out for Operations Managers are. Operations Managers are usually required in almost every organization today, but there are some fields in which this job is more lucrative than others. Some of these sectors are:
- Financial institutions
- Consultations firms
- Manufacturing industries
- Logistics and shipping industries
- Hospitality and Hotel industries
- Information Technology sector
- Insurance firms
As you can see, Operations Managers are required in industries where product manufacturing and transportation is done such as shipping, manufacturing and retail industries. Operations Managers are also in demand where services are delivered, like insurance hospitality and hotel industries, banking and government agencies. Operations Managers are required in industries where goods and services are produced or delivered. They are expected to maximize the efficiency of the production process as well as the delivery process. Operations Managers are the key to the growth and stability of the organization, and that is why they are in demand.