Strategic Planning Manager Salary
Strategic Planning Managers in the United States can expect to earn an average of $91K annually. Total incomes of Strategic Planning Managers incorporate potential for, in a few cases, more than $21K from bonuses and close to $13K from profit sharing; these performance components cause packages to range between $60K and $140K. Experience level is the biggest factor affecting pay for this group, followed by geography. The majority of Strategic Planning Managers claim high levels of job satisfaction. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to a strong majority. Men working as Strategic Planning Managers who took the survey just slightly outnumber women at 58 percent. The figures in this rundown are based on the results of PayScale's salary questionnaire.
Job Description for Strategic Planning Manager
Strategic planning managers lead their organization's overall strategic planning effort. They consult with senior managers to analyze past performance and determine the organization's best way forward - for example, in the management of mergers and acquisitions and the direction of the company's research and development. Additionally, strategic planning managers may have a large number of direct reports, and the manager must provide guidance and discipline for these employees. They must be able to conduct forecasting, helping senior leaders determine the best opportunities for growth within the business. They lead growth initiatives and may develop plans to purchase companies that would provide an opportunity for growth. This position is generally full time and takes place in an office setting, although travel may be required depending on the needs of the business.Read More...
Strategic planning manager positions require a great deal of experience in the field, usually at least 15 years in a related position. A minimum of a bachelor’s in business or a related field is generally needed as well, although these professionals are often required to have a master's in business administration (MBA). Strong interpersonal skills are needed, as the strategic planning managers interact regularly with customers, suppliers, company executives, engineers, business professionals, law professionals, and potential partner companies. Experience in marketing and sales may be preferred as well.
Strategic Planning Manager Tasks
- Work with company management to develop business strategies.
- Evaluate and contribute to the execution of mergers and acquisitions.
- Perform data analysis to support investment and financial decisions.
- Manage company investment portfolios and propose plans for improving investments.
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Popular Skills for Strategic Planning Manager
Strategic Planning Managers generally report applying a varied skill set to their work. Most notably, facility with Business Strategy and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 25 percent and 4 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Data Analysis. For most people, competency in Data Analysis indicates knowledge of Project Management.
Pay by Experience Level for Strategic Planning Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience is an important factor influencing the compensation of Strategic Planning Managers. The average beginner in this position makes around $79K, but folks who have been around for five to 10 years see a markedly higher median salary of $97K. Experienced professionals who have spent one to two decades on the job can score lucrative paychecks that average out to $103K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $125K.
Pay Difference by Location
With a pay rate for Strategic Planning Managers that is 26 percent greater than the national average, Houston offers a comfortable salary for those in this profession. Strategic Planning Managers can also look forward to large paychecks in cities like Fort Worth (+21 percent), Los Angeles (+20 percent), San Francisco (+18 percent), and Portland (+16 percent). With compensation 19 percent below the national average, St. Louis is not known for hefty paychecks and actually represents the lowest-paying market. Employers also pay below the national average in Dallas (7 percent lower) and Miami (4 percent lower).