Business Managers

Salary levels for business managers vary substantially, depending upon the level and range of responsibility, length of service, and type, size, and location of the organization. Top-level managers in large businesses are among today's highest paid workers and can earn much more than their counterparts in small firms. Also, salaries in large metropolitan areas, such as New York City, are higher than those in smaller cities.

According to the U.S. Department of Labor, general and operations managers, the nearest job description to business manager in the Bureau of Labor Statistics nomenclature, had a median yearly income of $101,280 in May 2023. In contrast, the median annual wage for chief executives was $206,680. The lowest 10 percent of general and operations managers made less than $46,340, while the highest 10 percent made more than $232,210. As you can see, earnings vary considerably for business managers, depending on the responsibility, service duration, and organizational factors described above.

General and operations managers' salaries vary widely from industry to industry. The annual mean salary for general and operations managers in computer systems design and related services were $169,930. Business managers working the same occupation in scientific research and development services earned an annual mean wage of $205,310, while the annual mean wage of the general manager in the restaurant industry was $71,570.

Benefit and compensation packages for business managers are usually excellent, and may even include such things as bonuses, stock awards, company-paid insurance premiums, use of company cars, paid country club memberships, expense accounts, and generous retirement benefits.