Merchandise Planning Manager Salary
|Salary||$65,933 - $121,585|
|Bonus||$2,013 - $15,205|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$68,152 - $131,276|
Job Description for Merchandise Planning Manager
The merchandise planning manager is a position that is often sought after by various companies in the retail industry. Most companies are looking for applicants that have a bachelor's degree. A few employers may be willing to consider applicants with a high school diploma or associate's degree as well. Most employers will require at least four years of experience in the retail industry, although some may require as many as seven years. The merchandise planning manager needs to be familiar with the Microsoft Office suite of products, especially Excel and Word. This is usually an indoor position unless the store the manager works for is outdoors, and the position usually involves quite a bit of walking throughout different departments.Read More...
The main responsibility of the merchandise planning manager is to improve and maintain inventory and planning, usually by helping create sales plans and keeping on top of inventory and margins. The planning manager will often be asked to forecast sales or to predict upcoming trends. They will often be meeting with other departments to collaborate on how to increase sales and to execute plans. They will need to be able to analyze sales data and graphs, as well as be able to understand business trends and calculate risks and oppurtunities as they arise. The merchandise planning manager may occasionally be asked to present their findings to the executive board. They will also be working with other employees under them, such as the merchandising department.
Merchandise Planning Manager Tasks
- Make decisions about what merchandise to buy based on past sales and current market trends.
- Monitor sales levels to identify sales opportunities and predict future sales.
- Meet financial objectives by deciding when to increase prices or put items on sale.
- Track the level of inventory compared to the number of sales.
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Pay by Experience Level for Merchandise Planning Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Salaries of relatively inexperienced workers fall in the neighborhood of $84K, but folks who have racked up five to 10 years see a notably higher median of $102K. The average pay reported by folks with 10 to 20 years of experience is around $109K. Folks with more than two decades of experience actually report lower incomes overall; their average comes out to a mere $102K.
Pay Difference by Location
With a pay rate for Merchandise Planning Managers that is 21 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Merchandise Planning Managers will also find cushy salaries in Seattle (+12 percent) and New York (+8 percent). Boston is the lowest-paying area, 12 percent south of the national average. Workers in Dallas and Los Angeles earn salaries that trail the national average for those in this profession (7 percent less and 6 percent less, respectively).
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