Merchandise Manager Salary
Job Description for Merchandise Manager
Merchandise managers work in retail environments and strive to provide products that are enticing to customers and ensure they are in stock. The goal is to increase sales and profits for the location, and it's also important to ensure that the merchandise is arranged in ways that are attractive to customers.Read More...
Merchandise managers may have duties relating to training, coaching, and motivating employees. These managers often have a payroll budget, so they must ensure that enough employees are available and that they are working effectively. They must always follow all company policies and ensure that other employees do the same. There will often be periodic sales goals to be met or surpassed, and bonuses may also be offered based on this progress. Keeping inventory and minimizing losses are also responsibilities of the position so that periodic audits are successful.
Merchandise managers should also keep track of popular items so they can be reordered in sufficient quantities. In some cases, the manager will only need to order items from the parent brand, while in other cases he/she will need to work with vendors and use bargaining skills to obtain merchandise at profitable prices. They may occasionally be required to assist on the sales floor at busy times, as well. Prior sales experience and a college degree are generally required for this position.
Merchandise Manager Tasks
- Create and implement store merchandising plans and standards.
- Conduct routine store walks and generate reports.
- Manage merchandising team by coordinating work schedules and activities.
- Communicate merchandising layouts, planograms, and store listings.
Common Career Paths for Merchandise Manager
Merchandise Managers often transition into Operations Manager positions, for which compensation tends to be much higher. On average, Operations Managers earn $59K per year. Going from Merchandise Manager to Retail Operations Manager is the transition that occurs most often in this field, where the paychecks are $49K. Many others choose to work as Assistant Store Managers, where pay is typically $37K.
Merchandising Manager Job Listings
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Popular Employer Salaries for Merchandise Manager
Merchandise Managers flock to Macy's, Inc. for generous paychecks, where average earnings of $54K lead the pack in compensation.
Popular Skills for Merchandise Manager
Merchandise Managers seem to require a number of specific skills. Most notably, facility with Negotiation, Operations Management, and Project Management are correlated to pay that is significantly above average, leading to increases of 80 percent, 8 percent, and 6 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Customer Service, Training, and Sales Management. Most people experienced in Inventory Management also know Sales Management.
Pay by Experience Level for Merchandise Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Although individuals who have less than five years' experience earn $38K on average, people with five to 10 years benefit from a notably larger average of $55K. Merchandise Managers see a median salary of $50K after reaching one to two decades on the job. Average wages for folks with more than 20 years of experience come out to around $52K.
Pay Difference by Location
Merchandise Managers will find that New York offers an impressive pay rate, one which exceeds the national average by 80 percent. Merchandise Managers will also find cushy salaries in San Francisco (+77 percent), Portland (+74 percent), Memphis (+54 percent), and Minneapolis (+51 percent). Those in the field find the lowest salaries in Houston, 13 percent below the national average.