Jewelry Store Manager Salary
Job Description for Jewelry Store Manager
Jewelry store managers are in charge of running their specialty retail stores. Due to the high value of the many gemstones and precious metals that are typically offered for sale, these managers must be mindful of several security layers for the store that may not be present in retail outlets which carry, say, shoes or clothes. In addition to overseeing security, jewelry store managers are also expected to have in-depth knowledge of the range of products offered, as well as oversee typical management duties such as handling payroll, closing transactions, and handling deposits.Read More...
Most jewelry stores offer a variety of rings, bracelets, necklaces, and other adornments that feature precious metals and jewels, and it is not uncommon for finer stores to have on-hand inventory which amounts to hundreds of thousands of dollars or more in value. Jewelry store managers must be able to carefully account for inventory and all pieces on display and in stock at the store. Most stores have inventory processes which combine manual and automatic tracking, and managers should ensure the completion of these processes multiple times per week.
Security and service are both key aspects of the jewelry store manager's job. They must ensure that workers are familiar with the trade and able to successfully guide potential customers to purchases, and that repair and alteration personnel in the store are properly trained and capable of watch repair, ring sizing, engraving, and similar tasks. In all areas or the store's operation, the manager ensures that proper security procedures are followed by all personnel to ensure the safety of workers, clients, and the store's inventory.
Most jewelry store managers have extensive experience in retail jewelry sales, typically as an employee in such a store or at a jewelry counter in a larger department store. Most employers require that managers have at least a high school diploma in addition to practical knowledge, and some may prefer those who have an associate's degree, as well. Most jewelry store managers work traditional business hours during the week.
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Pay by Experience Level for Jewelry Store Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
More years of relevant experience do not necessarily translate to higher paychecks. Those in the early stages of their career can expect to make around $38K; however, individuals with five to 10 years of experience bring in $49K on average — a distinctly larger sum. Jewelry Store Managers with one to two decades of relevant experience report an average salary of approximately $54K. People who have worked for more than 20 years report a median income of $55K, which is barely higher than the median for folks with 10 to 20 years of experience.
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