A Revenue Manager earns an average salary of AU$71,594 per year. For the first five to ten years in this position, pay increases somewhat, but any additional experience does not have a big effect on pay. Most people with this job move on to other positions after 20 years in this field.
|Salary||AU$58,855 - AU$95,259|
|Bonus||AU$2,262 - AU$19,933|
|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).)
|AU$59,521 - AU$97,494|
Job Description for Revenue Manager
Revenue managers provide support and advice to finance managers, directors of sales, and general managers. They are responsible for strategic planning and helping meet a business' revenue goals. Revenue managers must be able to lead and coach team members in customer relations and focus on removing any barriers that would inhibit a good flow of revenue. They must be able to continuously work toward bettering the overall revenue and improve efficiency and productivity where they see fit. Revenue managers play a very important role in implementing policies, training, and processes of the administrative team. They must able to lead a team of supervisors, as well as team leaders. They must be able to prepare and hold regular meetings to push their team to do better, as well as cross-train with other members in the office.Read More...
Most revenue managers require substantial field experience; some employers require a degree in accounting or business. Many revenue managers are in charge of hiring and terminating employees; therefore, they must be well versed in severance packages and on-boarding practices. Revenue managers also must have excellent communications and leadership skills. They also must have a great work ethic and be able to utilize department metrics to evaluate overall performance of the team and individuals. They should be able to document and amend existing and future financial controls as they deem necessary. (Copyright 2018 PayScale.com)
Revenue Manager Tasks
- Analyze data on customer traffic at a hotel to determine the optimal rates to set for renting rooms.
- Work with the marketing team to identify methods for increasing occupancy during slow times of the year.
- Research the rates of comparable establishments to ensure the hotel remains competitive.
- Predict the revenue hotel management can expect to earn in the near future and long term.
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