Business Managers

Overall, employment of general and operations managers and executives is expected to grow by about 3 percent, as fast as the average for all careers, through 2032, according to the U.S. Bureau of Labor Statistics. Some job openings will be the result of managers being promoted to better positions, retiring, or leaving their positions to start their own businesses. Even so, the compensation and prestige of these positions make them highly sought after, and competition to fill openings will be intense.

Projected employment growth varies by industry. For example, employment in science and technology should increase faster than the average, while employment in some manufacturing industries is expected to decline.

The DOL also predicts that as office technology continues to improve and companies streamline their organizational structures, there may be fewer opportunities for top executives. The outlook for business managers is also closely tied to the overall economy. When the economy is good, businesses expand both in terms of their output and the number of people they employ, which creates a need for more managers. In economic downturns, businesses often lay off employees and cut back on production, which lessens the need for managers.