Graduates with a Bachelor of Science (B.S.) degree in Business with a Retail Management concentration enter the work force equipped for a variety of positions in the retail field. Retail Management professionals work in industries ranging from grocery stores to high-fashion department stores and they usually have a strong sales background. Keep reading for more information about what you can do with a B.S. in Business with a concentration in Retail Management degree.
Building a Career in Retail Management
Individuals with strong sales and leadership skills typically make great Retail Management professionals. According to the U.S. Bureau of Labor Statistics (BLS), www.bls.gov, a retail managers' main job is to supervise retail salespeople. However, managers are also responsible for the purchasing, budgeting and accounting functions in their stores.
A postsecondary education is not a requirement for a Retail Management career (the BLS reports that a high school diploma or GED is usually required), but it is an excellent way to gain a competitive edge in the job market. Earning a B.S. in Business degree with a concentration in Retail Management may also allow new hires to earn promotions more quickly. It's important to remember, though, that experience is vital; most Retail Management professionals begin their careers by gaining first-had experience on the sales floor.
Industries and Specializations in Retail Management
According to the BLS, grocery stores, general merchandise stores and clothing stores employed the largest number of retail sales managers as of 2007. However, the highest-paid supervisors of retail salespeople worked in the automobile industry.
College graduates with B.S. in Business degrees and Retail Management concentrations are not confined to roles as store managers, though. The National Retail Federation reports that retail professionals can also work in areas like loss prevention, merchandising, supply chain management and human resources. They may also work their way up to prestigious positions as district or regional managers.
Earning Potential and Career Outlook for Retail Management
A report from www.salary.com states that the salary for a retail store manager is usually between $36,000 and $65,000 annually, depending on the type of establishment and its geographic location. The BLS predicts that the retail industry will experience average growth in the coming years, but that the number of job opportunities may decline during periods of economic recession. Individuals with the most education and experience are expected to have better job opportunities.
