Remaining in leadership roles remains advantageous in these professions. - Leading positions in such roles remain beneficial.
In a recent investigation, job platform Stepstone delved into the salary differences between specialists and managers in various industries. The study, published on stern.de/capital, does not specify which industries are included but offers insightful comparative insights.
The investigation does not identify the source of the data used in the study, nor does it mention the methodology employed. However, it does focus on the comparison of salaries for specialists and managers, aiming to clarify how much more one can earn as a boss.
One key finding is the median earnings differences across occupations. In the U.S. in 2023, median managers earned about $86,000 annually, while workers in professional and related occupations earned a median of $65,000. This is higher than the median of $48,000 for all workers across occupations.
Furthermore, the study reveals that management vs. non-management roles across fields often see managers or specialists earning more due to increased oversight, responsibility, and experience requirements. For instance, lead developers (specialists/managers in IT) earn more than entry-level web developers.
The investigation also highlights significant differences in business and financial operations, with median salaries for management occupations approximately $116,880, compared to roughly $79,050 for business and financial operations specialists (non-managers). This indicates that manager salaries can be roughly 1.5 times or more that of specialists.
Moreover, the study presents supply chain-specific data, showing that top non-executive supply chain roles can earn median salaries up to approximately $152,000, with managers and directors typically earning more. Additional compensation like bonuses can push top incomes over $192,000.
The investigation also sheds light on project management roles, with Senior Project Managers and PMO Managers in the U.S. earning between $120,000 and $170,000 annually, significantly higher than typical non-managerial project roles or entry-level positions.
In summary, the study indicates that managers often earn 30% to over 70% more than non-managerial professionals depending on industry and seniority, with compensation increases driven by leadership duties, supervisory responsibilities, experience, and specialized qualifications or certifications.
While the investigation by Stepstone does not provide specific numbers or figures regarding the salary differences, it offers a valuable perspective on the earnings gap between specialists and managers across various industries. Additional content from Capital can be found at www.stern.de/capital, with selected content requiring a stern subscription.
Vocational training in leadership roles, particularly in business and finance, can lead to higher earnings compared to non-management positions. For instance, a senior project manager or a PMO manager might earn between $120,000 and $170,000 annually, significantly more than entry-level project roles or non-managerial positions. Additionally, community policy should consider these salary differences when planning vocational training programs, ensuring that they provide opportunities for individuals to gain the qualifications and certifications necessary to pursue higher-earning management roles.
