Are you looking to start your career in business management but aren’t sure what job outcomes to expect? Understanding the fundamentals of leadership and management can help you successfully integrate into the modern workplace and give you the skills you need to approach your job search. Studying business can give you a varied skill set to work in any industry you choose, meaning you have greater flexibility and more opportunities to explore different areas.
As you’ll come to see, a career in business doesn’t have to be linear and there are a number of rewarding pathways you can choose from. If you’re interested in pursuing a business role, here are some of the job outcomes you can expect after completing a leadership and management course:
1. Business manager
Your role will depend largely on the industry you are in, but as a business manager, you will be responsible for organising people and processes within an organisation.
If you are just starting out, you can expect to begin with an entry-level job, spending the first year or two learning business operations within a specific department or service. Eventually, as you work your way up, you will have more responsibilities and duties across higher levels. Here are some of the key skills expected of a business manager:
- Analyses trends from data
- Develops plans for business operations
- Hires employees and negotiates contracts
- Supervises employees
- Develops workplace policies and procedures
- Creates employee schedules
The average pay for a business manager is AU$78,448 per year (according to PayScale).
2. Branch manager
A branch manager is responsible for leading a team of bank employees. They often work with customers or clients to understand their financial needs and goals, while providing expert recommendations. As a branch manager, you are expected to have exceptional interpersonal, leadership and customer service skills.
Some of the skills expected of a branch manager include:
- Is responsible for building a team
- Must have excellent oral and written communication skills
- Ensures the smooth running of bank operations
- Monitors revenue and expenses
- Leads staff meetings
- Provides training and coaching to staff
- Develops forecasts, financial objectives and business plans
The average pay for a branch manager is AU$77,122 per year (according to PayScale).
3. Retail manager
A retail manager is responsible for the day-to-day supervision of retail outlets, including sales, stock, staff and resource management. They must ensure their staff are trained in customer service while also monitoring the financial performance of the store. A retail manager may begin their career as a retail assistant, before moving onto a managerial role.
The skills of a retail manager may include:
- Plans and coordinates people and resources
- Has exceptional customer service skills
- Is organised and well presented
- Is responsible for hiring and training staff
- Deals with customer queries and complaints
- Sets and meets sales targets
The average pay for a retail store manager is AU$51,394 per year (according to PayScale).
4. Team leader or supervisor
In most organisations, a team leader assumes a supervisory role, working on a wide variety of tasks across different areas of the business. They typically oversee many of the day-to-day activities of a business, from hiring staff to motivating an existing team and managing projects.
Here are some of the skills a team leader may need:
- Gathers information about the techniques and working habits of employees
- Liaises and communicates with upper management
- Hires and trains new employees
- Develops strategies and procedures
- Creates reports to update teams on progress
- Manages the flow of operations
The average pay for a team leader is AU$66,382 per year (according to PayScale).
5. Business owner
Small business owners may work in a retail store, franchise, office space or from home. To operate a business successfully, it helps to learn the fundamentals of business management and leadership.
The main duties business owners face in, addition to their skill or trade, can include:
- Managing employees
- Providing customer service
- Meeting with clients
- Marketing their business
- Invoicing and financial/tax obligations
The average pay for a small business owner is AU$66,929 per year (according to PayScale).
6. Project Manager
Project managers are most commonly used in the finance and information technology industries, to manage the flow of work and team performance. Often, a company will have multiple, on-going projects, that require many hands-on-deck, which makes the role of a project manager crucial to a project’s success. Project managers are responsible for presiding over every aspect of a project from planning to execution.
Some key skills of a project manager include:
- Has exceptional organisation and communication skills
- Devises project budgets
- Allocates resources
- Motivates their team
- Monitors progress
- Manages and analyses reporting
The average pay for a project manager is AU$101,898 per year (according to PayScale).
Prepare yourself with the skills to succeed in business
While a certificate offers a comprehensive introduction to business management, a diploma can provide you with more advanced career options. Open Colleges offers both the BSB42015 Certificate IV in Leadership and Management and the BSB51918 Diploma of Leadership and Management, as well as a dual qualification, so you can enter into the job market sooner and with all the pre-requisite skills.
A career in business management can be highly rewarding for those who thrive in a changing environment and who enjoy the demands of being involved in business operations. If you’re considering developing your career in business, management or leadership, chat to one of our consultants who can help you figure out your next step.