Branch Manager, Retail Salary
For Retail Branch Managers, yearly average wages total $55K annually. Most people who answered the questionnaire are men; 62 percent of Retail Branch Managers are male. Medical benefits are awarded to most, and a strong majority earn dental coverage. Most workers in this position report moderate levels of job satisfaction. The data in this summary comes from the PayScale salary survey.
Job Description for Branch Manager, Retail
The retail branch manager oversees day-to-day operations for a store that is typically affiliated, franchised, or owned by a larger corporate entity with multiple locations. While they may may delegate authority to department managers and floor supervisors, the branch manager must ensure that systems and standards are established and enforced.Read More...
Usually corporations that have many stores have standard procedures and systems with various degrees of flexibility for the branch manager; these systems typically range from every aspect of the store, from purchasing to hiring practices to wage scales. There are also likely to be standards regarding store organization, cleanliness, and employee and manager conduct that the branch manager must enforce.
Much of the branch manager’s autonomy typically lies in the day-to-day functions of the store. Scheduling, breaks, inventory rotation, and other more-detailed tasks are decisions the company expects branch managers to make. The company also wants the branch manager to make the store inviting and clean for customers, as well as a good work environment for employees.
Typically, a company values practical experience over formal education for this position. Branch managers in retail typically have substantial experience in a supervisory role in retail, especially in departmental management work. A high school diploma or equivalent is essential, and a college or vocational school education in business and accounting may be preferred. The branch manager works within his or her own store, typically slightly longer than regular business hours during the week and weekends, although hours may vary.
Branch Manager, Retail Tasks
- Manage the daily operation and administration of a branch of a retail store.
- Set and enforce standards for customer service, receiving and addressing customer complaints.
- Oversee store inventory, ordering and receiving products, monitoring product quality, and adjusting inventory to meet customer needs.
- Monitor store financial performance, setting business objectives and implementing strategies to meet those targets.
- Supervise branch employees, overseeing hiring, discipline, training, promotions, and scheduling.
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Pay by Experience Level for Branch Manager, Retail
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Retail Branch Managers do not generally earn higher incomes from more experience in the field. Individuals who have worked for fewer than five years bring in approximately $50K on average. Those in the five-to-10 year range can expect an average that is only a touch bigger at $51K. Retail Branch Managers see a median salary of $57K after reaching one to two decades on the job. In the end, more experience does seem to mean larger paychecks; seasoned Retail Branch Managers with more than 20 years of experience earn a predictably higher median salary of $69K.
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