As the job title suggests, global managers have responsibilities that span countries. They may work in their native country and, as their job duties dictate, work internationally to take care of business deals. Some global managers earn MBAs from business schools with this concentration after getting their start in sales, in training, as a consultant, or in technology or product development depending on their skill set, base knowledge, original industry, and studies. Professional students attending full-time at their school or university of choice will have options that include the abillity to network, study under executives that work as faculty, gain mentors in the form of alumni, and take courses on analytics, communication, investment, account management, financce, and other advanced topics that prepare then for the real world. The degrees they earn on campus will allow MBA graduates to institute change and lead their institutions to success.
As a global manager, you’ll receive great compensation for your work whether you stay within the United States or go elsewhere. You will be required to have detailed knowledge about your company and its products or services. You should also be familiar with the people and market in the countries to which you travel. If your goal has been to work internationally, then employment as a global manager will help you to achieve that.
How Much do Global Managers Make?
You won’t begin at the top of the pay scale, even as a global manager. You’ll need to advance to the highest levels by showing your true worth to your employer. At first, you should expect to earn in the range of $57-60,000. As you spend more time in a global manager’s role, your income can jump substantially.
Statistics for global manager income has been collected over many years though income is still affected by location, current economic trends, government regulation or requirements, and specific corporate issues or events. When your pay reaches the 25th percentile, you’ll be earning around $79,000 annually; at the 50th percentile, $100,000; at the 75th percentile, $130,000; and at the 90th percentile, $150,000. On average, after graduation, you could be bringing in $102,883 annually.
With an annual bonus, your compensation jumps by about $15,558. Profit sharing brings in an additional $4,122, depending on sales. Your commissions may be about $30,095, again depending on company sales.
What is My Earning Potential?
Earning potential is different from how much you make. Instead you’re looking at several other factors which may help to increase your average annual salary such as a bonus or profit sharing.
Your bonus may increase as you log more time and years into your position. At first, this figure may be lower than $10,000 but, as you spend more time as a global manager, you’ll see your annual bonus climbing toward the $50,000 mark. Eventually, your total income could conceivably surpass $200,000.
How do Global Manager Salaries Compare?
As a global manager, you’ll be well-compensated for your work and time, though your days are likely to be very full. When you compare your wages to those of other managerial roles, your average pay rises above theirs. At the 10th percentile, a general and operations or project manager has an average annual salary of $44,510; at the 50th percentile, their annual salary is $100,410; at the 75th percentile, this increases to $156,580.
|Senior Global Manager||$200,000|
|Management of companies within the US.||$162,510|
|CEOs of grant making organizations||$141,210|
|Managers of oil and gas extraction companies||$178,960|
Is there Demand for This Career?
While the demand for this career is out there, it’s not as strong as other jobs. At 8%, the rate of job growth is only about as fast as it is for other occupations. It also depends heavily on the rate of the growth for each specific industry. The topmost professionals in global managerial roles face stiff competition for their positions.
Another way of viewing this question New competitors are rising and developing in smaller countries and, because their country’s markets are too small to support their output, they are naturally forced to go global in order to survive. As soon as they realize they have to look beyond the borders of their homeland, their strategy is to jump in with other, longer-established global concerns.
Companies that focus on knowledge-intensive or information-based services are the best at this and most likely to advance to a global role more quickly because of the easy digital access to a customer base.
Another point of view The CEOs of companies that were formed in the US are from other developed countries, such as Australia. In other words, they must be willing to move to another country to claim a new job. This means that, if you were born in the US, your competitors for global manager positions you’re eyeing may come from India, Japan, Southeast Asia, or even Europe and you might receive offers from businesses located out of state or in other, distant locations.
Next, if you work for a company that has a product that’s also produced in another country, you need to consider the price you attach to that product. If your company produces pharmaceuticals, these are much more likely to be priced much higher in the US than they would be in another country that uses the same medication. Pricing a medication closer to its cost of production means that more patients are going to want to buy the medication from that company than it will from the US corporation that prices it beyond affordability. Result: the foreign corporation will, ironically, make more profit eventually. Thus, its global manager is more likely to be employed for a longer time period.
Globalism also means that recruiters looking for top talent will expand their search beyond US borders. Those who are looking for a global manager position will have to sharpen their skills and knowledge so they are more likely to be chosen for the spot. This becomes even more critical when you factor in the new philosophy being adopted by business executives. About 87% of them are now focusing on their positive impact on society. They believe that, if they begin to focus on becoming a positive force, they will create goodwill and their organization will perform better.
What is the Job Growth for the Field?
Looking over time, 33,670 global manager positions existed in California. By 2016, an additional (estimated) 1,340 new positions were created. As existing global managers either move into a different organization or retire, an additional 4,552 positions will open up, bringing the total number of openings to 5,890.
As of 2016, the BLS projected an encouraging job growth rate of 7% between 2016 and 2026.
How Much Competition Will I Face for a Job?
The level of competition for a global manager is high. With the increase of jobs at only 7%, managers tend to hold onto their positions, rather than moving into other positions or retiring.
On the bright side, global managers are able to transport their skills from one position and organization to another. And, because global managers are common in several industries, this should make landing another position as a global manager easier than for some other job roles.
As a graduate student, if you have decided that working as a global manager is the right goal for you, then you’ll need to amass more education and credentials. You may need to gain experience as a DBA (doing business as) and earn certifications in various roles in order to be seriously considered for such a position. You’ll also have to be skilled in tech areas and sharpen them frequently. Learn a second language and become highly skilled in speaking this language. In short, learn everything you can and gain experience in as much as you can with software and computers.
What Kinds of Institutions Hire Global Managers?
As a global manager, you’re going to have a clear advantage over other business roles. Your experiences and skills will be sought after in the public sector.
You’re more likely, too, to be hired as an international business expatriate. However, if you already have a family that you do not wish to relocate, you may have to live apart from your family or bypass the offer.
A short-term international job may better fit your needs if you do have a family.
The type of institution hiring global managers runs the gamut. This is including large, national corporations looking to expand into new countries; organizations providing office electronic supplies seeking customers in other countries; foreign universities; electronics companies wanting the opportunity to sell their products internationally; or even a local company with an idea it wants to replicate internationally.
How do I Advance My Career as a Global Manager?
You'll have many opportunities to build on your success and advance in your career. The best thing you can do for yourself and your career is to learn a foreign language. Learn Spanish, Japanese, German, or one of the Chinese language dialects. If you learn Hindi, you may be the manager selected to work in India as your company works on expansion.
Delve into computer science and IT courses. Focus your learning on software applications that you may use in your work.
Take your strong points and make them even stronger. If you communicate well, practice written and verbal communication skills with courses and public speaking organizations, such as Toastmasters.
Develop your ability for active listening. Learn how to ask questions that show you’re listening to what someone else is saying.
Earn your certificate in global management. When employers see you have this, you’re more likely to be hired as a global manager. One such certificate is the Certificate of Excellence in Global Business.