Retail Director Salary
Median pay for Retail Directors in the United States lies in the neighborhood of $80K annually. Most report receiving medical coverage from their employers and a large number collect dental insurance. Work is enjoyable for Retail Directors, who typically claim high levels of job satisfaction. Male Retail Directors are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 57 percent of the field. The data for this synopsis comes from respondents who took the PayScale salary survey.
Job Description for Retail Director
A retail director works under the direction of the president of a particular company. Their main responsibility is to direct all retail operations and staff. The director must provide leadership and management skills to the department and oversee all purchases to ensure the company maintains steady growth and increasing profitability. The retail director's main duties typically include implementing relevant policies (which are most often made by the board of directors), managing all operations in the retail department, researching new vendors, and maintaining good relationships with existing vendors. They also order all apparel and non-apparel items, ensure there is an appropriate amount of stock at all times, and maintain excellent tracking on all purchase orders. Retail directors need to communicate effectively with colleagues and work well with subordinates, providing guidance, training, and discipline as needed.Read More...
Retail director positions generally require at least a bachelor’s degree and five years of related experience, which generally must include managing multiple stores and performing retail purchasing. A strong retail director must have excellent organizational, time-management, and communication skills, as well as proficiency with basic computer programs. They should work well with others in a team setting, as well as on their own with minimal supervision.
Retail Director Tasks
- Train employees in sales strategies and help employees improve individual performances.
- Develop sales strategies and objectives for a retail store and for the each of the store's employees.
- Identify products and services with the greatest potential for increasing revenue.
- Keep records of sales made in departments and by each employee, analyzing the results to find trends.
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Pay by Experience Level for Retail Director
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Those who have worked for fewer than five years take home a median salary of $70K, and workers with five to 10 years of experience earn a higher $71K on average. Those with 10 to 20 years of experience under their belts can expect their paychecks to flourish around the six-figure median of $108K. Folks with more than two decades of experience actually report lower incomes overall; their average comes out to a mere $104K.