Job Roles and Salary Structures in General Management
At 15, Dr Raju Bhatia worked as a peon in a bank, wiping tables, cleaning the office, and washing teacups. Despite failing in almost all subjects in class 9, Dr Raju somehow managed to earn a second division during his class 10 board exams. Encouraged by this improvement and by his mother, Dr Raju pursued a college education. Despite having to tutor kids and working at the bank during the evenings, Dr Raju went to the top in the commerce stream in Bombay University and studied in IIM Ahmedabad in 1984. After graduating from the prestigious IIM institute, Dr Raju attained a PhD in Human Resources from the University of Missouri, joined Tata Exports in 1988, and built a successful career.
Not everyone’s story is the same, but Dr Bhatia’s journey is surely inspirational. Of course, times are a lot different than they used to be in the 1980s. Thanks to technological innovations, you don’t have to balance two part-time jobs while attending college to gain employable skills that catapult you into managerial roles. Now, you can continue to learn and grow your career at your own pace with the help of executive education courses.
For dedicated employees, working hard pays off; while they quickly climb the ranks in the beginning. However, many professionals with functional expertise in one domain often feel stagnated in their roles. After a certain point, they realise they cannot attain the higher-level executive position they hoped to attain. In such cases, professionals find it effective to take a generalist approach and make a pivot towards general management. When it comes to career progression into leadership roles, such people often enjoy a competitive advantage due to their cross-functional knowledge of various organisational functions. Let’s take a look at the various job roles and salary structures associated with general management.
Job Roles and Salaries in GM:
1. What Are Some Job Roles In General Management?
2. Salary Structures in General Management In India
3. Mapping Your Career In General Management
4. How to Accelerate Your Career Growth In General Management
5. FAQs
1. What Are Some Job Roles In General Management?
General management courses are designed to help individuals learn and hone skills not restricted to a specific field. While you may have units related to finance, sales and marketing in some cases, the overall program is designed such that individuals can apply the skills across various industries and organisations.
Hence, general management courses prepare an individual for several job roles. Essentially, general management skills allow professionals to oversee the daily operations and manage the company’s growth and trajectory. While they do not specialise in one aspect of a business, they have an overall knowledge of how each team functions and work together.
Any senior management of leadership role/position can result from proficiency in general management, subject to demonstrated competencies and experience of course. Some common job titles that individuals with general management competencies are:
Assistant General Manager
General Manager
General Manager of Operations
Branch Manager
Area Manager
Zone Manager
Project Manager
VP
Business Head
2. Salary Structures in General Management In India
In India, the average salary of individuals in General Management roles is about 27 Lakhs per annum. Reported salaries range from 10 Lakhs per annum to 50 Lakhs per annum for senior roles. The average salary of a Finance Manager in India in March 2021 stood at ₹9,93,149 per annum. In comparison, the average salary of a General Management professional in India during the same period was a whopping ₹22,59,969 per annum.
3. Mapping Your Career In General Management
Along with significant work experience, it is crucial to develop industry-specific skills to start working in a general management role. A general management professional oversees the daily business operations, and as the industry keeps innovating itself so does general management. Professionals, therefore, need to ensure that they update themselves.
Assuming a role in general management is not just about having enough work experience but also about addressing your skill gaps. The role of a professional with general management professional is filled with immense responsibilities; it involves excellent leadership skills, strategic thinking and planning, setting goals to achieve the organisation’s vision and so on. Evidently, these responsibilities hold great value to help the business grow, and given the unpredictable market environment, this role can be daunting.
Although every business needs people working in general management roles, the needs of the market and the skills of the present workforce do not match up. Though people may have expertise in specific fields, this expertise is not exactly suited to general management roles. Experience across various business domains is vital, but it is also essential to develop skills that can be applied across various domains.
Most managerial courses focus on a specific field, but the knowledge can be applied across various organisations with general management courses. However, with the importance of gaining industry experience, quitting your job to pursue a full-time general management course may not be an option for most. This is why it is crucial to look at upskilling options designed for working professionals.
Working as a peon wasn’t Dr Bhatia’s aspiration; he knew he wanted to rise the ranks. In the 1980s, this meant that he had to study for years before proving his skills for his dream job. Today, however, employees who feel stagnated do not need to quit their job and join a full-time course. Instead, they can benefit from executive courses that allow them to develop new skills without disrupting their career.
3. Mapping Your Career In General Management
4. How to Accelerate Your Career Growth In General Management
Executive education is vital for working professionals who want to grow their skills while building their careers and gaining necessary work experience. Apart from a general management certification, it is vital to have significant work experience as well for general management roles. TimesTSW has partnered with some of the top-tier B-schools to ensure that individuals have access to well-structured general management courses that do not interfere with their professional life.
For those who want to build a career in general management, some courses which provide comprehensive knowledge are:
IIM Kashipur Post Graduate Programme in General Management
IIM Indore Executive Programme in Global Business Management
IIM Lucknow Executive Programme in Advanced General Management
IIM Nagpur Post Graduate Certificate Programme in General Management
To know more: https://timestsw.com/executive-education/blog/job-roles-and-salary-structures-in-general-management/
