Merchandise Planning Manager Salary
|Salary||$68,710 - $127,119|
|Bonus||$2,424 - $18,673|
|Total Pay (||$69,564 - $142,131|
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. (Copyright 2017 PayScale.com)
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.
Merchandise Planning Manager Job Listings
Pay by Experience Level for Merchandise Planning Manager
Pay by Experience for a Merchandise Planning Manager has a positive trend. An entry-level Merchandise Planning Manager with less than 5 years of experience can expect to earn an average total compensation of $81,000 based on 25 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Merchandise Planning Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $103,000 based on 56 salaries. An experienced Merchandise Planning Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $108,000 based on 46 salaries. A Merchandise Planning Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $105,000 based on 16 salaries.
Pay Difference by Location
Surpassing the national average by 19 percent, Merchandise Planning Managers in San Francisco receive some of the highest pay in the country. Merchandise Planning Managers will also find cushy salaries in Seattle (+11 percent) and New York (+6 percent). With compensation 12 percent below the national average, Boston is not known for hefty paychecks and actually represents the lowest-paying market. Two other places where employers offer below-median salaries are Dallas (9 percent less) and Los Angeles (7 percent less).
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