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Management
and Public Relations Services Nature
of the Industry |
Working
Conditions |
Employment
|
Occupations
in the Industry
Training
and Advancement
|
Job
Outlook
|
Earnings
Significant
Points
- This industry is projected to be one of the
fastest growing through the year 2010.
- Nearly one-fifth of all workers are
self-employed.
- About 70 percent of workers have a
bachelor’s degree or higher; half of all jobs are in managerial, business,
financial, and professional occupations.
- This industry is one of the highest paying.
Nature of
the Industry
Widespread management and public relations services
firms influence how businesses, governments, and institutions make decisions
and, in so doing, affect the lives of all Americans. Often working behind the
scenes, these firms have a variety of functions. For example, a management
consulting team could recommend that a pharmaceutical company take a brand of
pain reliever off the market. A construction management firm might oversee the
building of a new airport. A facilities support services firm might manage the
daily operations of a local hospital. A traffic consultant could conclude that a
major highway should be widened. Or a public relations firm might issue a press
release that is printed in newspapers across the country.
Firms in management and public relations services
offer one or more resources that clients cannot provide themselves. Usually this
resource is expertise—in the form of knowledge, experience, special skills, or
creativity, but sometimes the resource is time or personnel that the client
cannot spare. Clients are large and small for-profit firms in the private
sector; bodies of State, local, or Federal Government; institutions, such as
hospitals, universities, unions, and trade groups; and foreign governments or
businesses.
The management and public relations services
industry is diverse. In general, firms in management or other business
consulting offer operational advice, those in public relations services advise
and implement public exposure strategies, and firms in facility support
management services furnish administrative services. Management services and
management consulting are by far the largest sectors, together accounting for
most of the industry’s revenue. The facility support, business consulting, and
public relations segments bring in the remaining revenue.
Management consulting firms advise on almost any
aspect of corporate operations, including marketing; finance; corporate strategy
and organization; manufacturing and technology; information systems and data
processing; electronic commerce ("e-commerce") or business; and human
resources, benefits, and compensation. Depending on the nature of clients’
problems and needs, management consulting firms might advise how best to enter a
new market or increase the client's share in an existing market. They might
suggest how to get the most out of a computer network or which department or
subsidiary should be sold, shut down, or merged. They might recommend how to
adhere to Federal environmental regulations or when to issue a new public
offering of stock. Occasionally, management consulting firms also help implement
their own advice.
Management consulting has grown rapidly over the
past several decades, as businesses increasingly use consulting services. Using
consultants is advantageous, because these experts are experienced, welltrained,
and abreast of the latest technologies, government regulations, and management
and production techniques. In addition, consultants are cost effective, because
they can be hired temporarily and can objectively perform their duties, free of
the influence of company politics.
Miscellaneous business consulting firms offer a
variety of services similar to those of management consultants, but the former
primarily offer technical expertise or advise clients on nonmanagement issues.
For example, an economic consultant might be hired to help a business project
future product sales, or a traffic consultant might be retained to advise a city
government on how much a proposed new tunnel would alleviate traffic congestion.
This group of businesses includes sociological research firms, architectural
consultants, educational consulting firms, city planners, and many others. In
fact, there are highly specialized consultants with expertise in almost every
business and government-related activity.
Public relations firms help secure favorable
public exposure for their clients, advise them in the case of a sudden public
crisis, and design strategies to help them attain a certain public image. Toward
these ends, public relations firms analyze public or internal sentiment about
clients; establish relationships with the media; write speeches and coach
clients for interviews; issue press releases; and organize client-sponsored
publicity events, such as contests, concerts, exhibits, symposia, and sporting
and charity events. Clients of public relations firms include all types of
businesses, institutions, trades, and public interest groups, and even some
high-profile individuals.
Lobbying firms, a special type of public
relations firm, differ somewhat. Instead of attempting to secure favorable
public opinion about their clients, they attempt to influence legislators in
favor of their clients’ special interests. Lobbyists often work for large
businesses, industry trade organizations, unions, or public interest groups.
Management services and facility support services
firms are similar to each other, but differ in one important respect. Management
services firms administer other firms’ properties, businesses, or projects and
provide management personnel but not operating staff. In contrast, facility
support services firms provide both management and staff. For example, a common
type of management service is construction management. A corporation, real
estate developer, or group of investors might hire a construction management
firm to oversee a construction project to ensure that it is completed within
certain time and cost constraints. The construction management firm prepares
estimates of building costs and a project schedule; coordinates the work of
designers, contractors, workers, and suppliers; and inspects the work as it
progresses, to ensure that it conforms to plans, budget, quality standards, and
the completion schedule. However, the construction management firm employs none
of the construction workers, designers, or contractors; it only coordinates and
administers the process.
Facility management firms, on the other hand,
might administer and staff various services at airports, military installations,
universities, hospitals, or corporate headquarters. Unlike management services
firms, facility management firms employ many of the workers necessary to run
these facilities—managers, guards, maintenance and custodial staff,
groundskeepers, and other workers. Facility management firms do not provide all
of the staffing, particularly management. Many times, there is an in-house
facility manager that oversees the department but may choose to outsource trades
and custodial workers through a facility management firm.
The vast majority of firms in the management and
public relations services industry are small, primarily because new firms,
particularly those engaged in consulting and public relations, can easily enter
the industry. Licensing, certification, and large capital outlays seldom are
necessary to become a management or business consultant, public relations
specialist, or construction manager; and the work can be quite lucrative for
those with the right education, experience, and contacts. As a result, many wage
and salary workers in management and public relations services eventually leave
established firms to go into business for themselves. In addition, after
developing specialized expertise, people working in other industries often start
their own consulting businesses, and some experienced workers perform consulting
work after retiring.
Working
Conditions
For most employees, working conditions in management and public relations services are similar to those for most office workers operating in a teamwork environment. The work is rarely hazardous, except in a few cases—such as for facility support workers contracted to run correctional institutions or construction management workers who must inspect construction sites. In 1999, the industry had only 1.9 injuries and illnesses per 100 full-time workers, compared with an average of 6.3 throughout private industry.
Most firms encourage employees to attend employer-paid time-management classes. This helps reduce the stress sometimes associated with working under strict time constraints. Also, with today’s hectic lifestyle, many firms in this industry offer or provide health facilities or clubs for employees to maintain good health.
Not all employees in this industry work under identical conditions. In 2000, workers in the industry averaged 35.9 hours per week, a little above the national average. However, some must work long hours in stressful environments, as often is the case with lobbyists, consultants, construction managers, and public relations writers, who frequently must meet hurried deadlines. Workers whose services are billed hourly—such as many business and management consultants and public relations specialists—are often under pressure to manage their time very carefully. Occasionally, weekend work also is necessary, depending upon the job that is being performed. In addition, the increasing globalization of the marketplace compels many executives and consultants to travel extensively or live away from home for extended periods.
Employment
The management and public relations services industry had about 1.1 million wage and salary workers in 2000; about 232,000 were self-employed. Management services and management consulting firms were the largest employers in the industry, accounting for 68 percent of wage and salary jobs. Public relations services accounted for 5 percent.
The vast majority of establishments in this industry were fairly small, employing fewer than 5 workers (see chart). Self-employed individuals operated many of these small firms. Despite the prevalence of small firms and self-employed workers, large firms tend to dominate the industry. Nearly 60 percent of jobs are found in only about 3 percent of the establishments, and some of the largest firms in the industry employ several thousand people.
Although employees in this industry work in all parts of the country, many workers are concentrated near large urban centers.
Occupations
in the Industry
Although management and public relations services are fairly specialized, a variety of occupations are found in this industry (table 1). Some of these occupations, such as public relations specialists , are specific to only one segment of the industry, whereas others, such as bookkeeping, accounting, and auditing clerks , can be found throughout the industry.
Table
1. Employment of wage and salary workers in management and public
relations services by occupation, 2000 and projected change, 2000-10
(Employment in thousands) |
| Occupation |
Employment,
2000 |
Percent
change, 2000-10 |
| Number |
Percent |
|
All occupations
|
1,090 |
100.0 |
42.2 |
| |
|
Management, business, and
financial occupations
|
323 |
29.6 |
45.9 |
|
Administrative services
managers
|
11 |
1.0 |
76.0 |
|
Marketing managers
|
8 |
0.7 |
41.5 |
|
Public relations managers
|
9 |
0.8 |
61.3 |
|
Chief executives
|
21 |
1.9 |
40.4 |
|
Construction managers
|
14 |
1.3 |
46.7 |
|
Financial managers
|
12 |
1.1 |
32.0 |
|
General and operations
managers
|
56 |
5.1 |
38.6 |
|
All other managers
|
11 |
1.0 |
32.0 |
|
Human resources,
training, and labor relations specialists
|
14 |
1.3 |
35.4 |
|
Management analysts
|
66 |
6.0 |
44.1 |
|
All other business
operations specialists
|
17 |
1.6 |
46.7 |
|
Accountants and auditors
|
16 |
1.5 |
76.0 |
| |
|
Professional and related
occupations
|
228 |
21.0 |
53.5 |
|
Computer programmers
|
16 |
1.4 |
19.2 |
|
Computer systems analysts
|
10 |
0.9 |
76.0 |
|
Computer software
engineers
|
12 |
1.1 |
93.9 |
|
Computer support
specialists
|
8 |
0.7 |
120.0 |
|
Engineers
|
24 |
2.2 |
40.4 |
|
Drafters, engineering,
and mapping technicians
|
14 |
1.3 |
35.3 |
|
Environmental scientists
and specialists, including health
|
8 |
0.7 |
46.7 |
|
Market and survey
researchers
|
8 |
0.8 |
47.6 |
|
Education, training, and
library occupations
|
9 |
0.8 |
47.8 |
|
Art and design
occupations
|
11 |
1.0 |
46.2 |
|
Public relations
specialists
|
17 |
1.6 |
61.3 |
|
Registered nurses
|
11 |
1.0 |
46.7 |
|
Other health
professionals and technicians
|
14 |
1.3 |
43.5 |
| |
|
Service occupations
|
91 |
8.3 |
43.3 |
|
Healthcare support
occupations
|
8 |
0.8 |
47.4 |
|
Food preparation and
serving related occupations
|
28 |
2.5 |
28.7 |
| |
|
Sales and related
occupations
|
58 |
5.4 |
36.2 |
|
Sales representatives,
wholesale and manufacturing, except technical and scientific products
|
9 |
0.8 |
14.5 |
|
All other sales and
related workers
|
15 |
1.4 |
46.7 |
| |
|
Office and administrative
support occupations
|
287 |
26.4 |
30.4 |
|
First-line
supervisors/managers of office and administrative support workers
|
18 |
1.6 |
11.6 |
|
Bookkeeping, accounting,
and auditing clerks
|
24 |
2.2 |
26.3 |
|
Customer service
representatives
|
35 |
3.2 |
38.7 |
|
Receptionists and
information clerks
|
15 |
1.4 |
46.7 |
|
Office clerks, general
|
34 |
3.1 |
46.7 |
|
Executive secretaries and
administrative assistants
|
35 |
3.3 |
32.0 |
|
Secretaries, except
legal, medical, and executive
|
25 |
2.3 |
17.3 |
| |
|
Transportation and
material moving occupations
|
26 |
2.4 |
40.4 |
| |
| NOTE:
May not add to totals due to omission of occupations with small
employment. |
Compared with other industries, a relatively high
proportion of workers are highly educated. Around 40 percent of those in
management and public relations services have a bachelor’s degree, compared
with 18.5 of the workers throughout the entire economy. More than 25 percent
have a master’s degree or higher, compared with 9 percent of the workers
throughout the economy. Certain jobs may have stringent entry requirements. For
example, some management consulting firms prefer to hire only workers who have a
master’s degree in business administration (MBA). Other positions can be
attained only after many years of related experience.
In management and public relations services,
workers in management and business and financial operations occupations and in
office and administrative support occupations make up 56 percent of employment.
These same occupations account for about 27 percent of workers across the entire
economy. These workers comprise a disproportionate share of jobs in this
industry because they not only manage and administer their own firms, but often
manage clients’ businesses or properties as well. For example, office
management services and facilities support firms might need only a handful of
managers, bookkeepers, and secretaries to handle their own affairs, but need
many more to administer each office or facility they contract to manage.
Top executives, the largest managerial
occupation in the industry, includes both the highest level managers—such as
chief executive officers and vice presidents—and many middle managers with
diverse duties. Top-level managers shape company policy, often with the help of
other executives or a board of directors. They oversee all activities of the
firm, coordinate duties of subordinate executives and managers, and often bear
ultimate responsibility for a firm’s performance. i Mid-level managers may
oversee the activities of one department or, when working for a management
services firm, all the activities of one or more establishments, properties, or
construction ventures. These jobs are found throughout the industry, but they
are particularly concentrated in the management services and facility support
services segments.
Management analysts, also called management
consultants, are the highest profile employees in the management consulting
industry. Their work is quite varied, depending on the nature of the project and
the client’s needs. In general, consultants study and analyze business-related
problems, synthesizing information from many sources, and recommend solutions.
Suggested solutions can range from overhauling a client’s computer systems to
offering early retirement incentives to middle managers, switching health plans,
improving just-in-time inventory systems, hiring public relations firms, or
selling troublesome parts of businesses. Because of the varied nature of these
jobs, firms hire workers with diverse backgrounds, such as engineering, finance,
actuarial science, chemistry, and business. Many firms require consultants to
have MBA’s, whereas others hire workers who have only bachelor’s degrees.
Many workers have experience in other industries prior to entering management
consulting work.
Construction managers work almost
exclusively for construction management firms in the industry. In construction
industries, the term “construction manager” sometimes is used to refer to
the jobs of constructor, construction superintendent, general construction
manager, project supervisor, and any number of contractors. In the management
services segment of this industry, construction managers are highly trained or
experienced workers who control the entire construction process. Through precise
scheduling and cost estimation techniques, these managers oversee projects to
ensure that they are completed on time and at a reasonable cost. Their work
requires a thorough understanding of the construction process. As a result, most
construction managers have an extensive educational background—in subjects
such as architecture, engineering, construction technology, law, and business
administration—as well as many years of related construction experience before
entering this occupation.
Other management and business and financial
operations occupations include financial managers, who prepare financial
statements and assess the financial health of firms. Often, they must have at
least a bachelor’s degree in accounting or finance. As one might expect, most advertising,
marketing, promotions, public relations, and sales managers in the
industry are employed in public relations firms, where they manage publicity
campaigns and supervise public relations specialists, discussed below. Administrative
services managers typically administer a firm’s support services,
overseeing secretaries, data entry keyers, bookkeepers, and other clerical
staff. In the management services industry, they also often supervise a
client’s clerical and support staff. Accountants and auditors
monitor firms’ financial transactions and often report to financial managers.
Administrative support positions in management
and public relations services resemble those in other industries. Management and
facility support services firms often staff clients’ businesses, so
administrative support workers are needed in large numbers. Particularly
numerous are secretaries and administrative assistants and bookkeeping,
accounting, and auditing clerks, who record and classify financial
data. The industry also employs many supervisors and managers of
office and administrative support workers, who oversee the support
staff, often reporting to administrative services managers.
One of the industry’s largest professional
occupations is public relations specialists, almost all of whom work in
the public relations segment of the industry. Under the guidance of public
relations managers, these workers design, implement, and analyze public
relations strategies and materials. They write press releases, contact people in
the media, encourage their clients to sponsor special events, prepare clients
for interviews or crises, and advise them on how to achieve a desired public
image. In almost all cases, workers in these jobs must have strong writing
skills and a bachelor’s degree; applicants with degrees in communications,
journalism, English, or business and prior job experience are preferred.
Designers in this industry are mostly graphic
designers who use a variety of print, electronic, and film media to create
designs that meet clients' commercial needs. Using computer software, they
develop the overall layout and design of magazines, newspapers, journals,
corporate reports, and other publications. They also may produce promotional
displays and marketing brochures for products and services and design
distinctive company logos for products and businesses. An increasing number of
graphic designers develop material to appear on Internet home pages.
The rapid spread of computers and information
technology has generated a need for highly trained computer specialists to
design and develop new hardware and software systems and to incorporate new
technologies. Systems analysts design new computer systems or redesign
old systems for new applications. They solve computer problems and enable
computer technology to meet individual needs of an organization. For example, a
systems analyst from a management consulting firm might be hired by a wholesale
firm to implement an online inventory database. Computer software engineers,
on the other hand, can be involved in the design and development of software
systems for control and automation of manufacturing, business, and management
processes. Other computer specialists include computer support specialists
who provide technical assistance, support, and advice to customers and users,
and database administrators who work with database management systems
software and determine ways to organize and store data. In the consulting
segments of this industry, computer specialists such as systems analysts,
computer scientists, and computer engineers sometimes are referred to simply as
“consultants.”
Technical workers also include computer
programmers, who write programs and create software—often in close
conjunction with systems analysts—and engineering technicians, who aid
engineers in research and development. Like systems analysts and engineers,
persons in these occupations work primarily in the business and management
consulting segments of the industry.
Compared with the primary occupational groups
discussed above, the industry has relatively few jobs in service occupations.
These include a large number of food preparation and serving related workers,
who prepare and serve meals in business or institutional cafeterias. These
occupations are found throughout the industry, but many food preparation and
serving workers are employed in facilities support services firms.
Management and public relations service firms do
not produce any goods and, as a result, employ relatively few sales and
production workers. Sales, production, and the remaining occupational groups
make up only about 15 percent of industry employment.
Training
& Advancement
Training and advancement opportunities vary widely within management and public relations services, but most jobs in the industry are similar in three respects. First, clients usually hire management and public relations firms based on the expertise of their staffs, so proper training of employees is vital to the success of firms. Second, although a bachelor’s degree or higher generally is preferred by employers, most jobs also require extensive on-the-job training or related experience. Third, advancement opportunities are best for workers with the highest levels of education.
The management and public relations services industry offers excellent opportunities for self-employment. Because capital requirements are low, highly experienced workers can start their own businesses fairly easily and cheaply; and, every year, thousands of workers in this industry go into business for themselves. Some of these workers come from established management and public relations services firms, whereas others leave industry, government, or academic jobs to start their own businesses.
Most organizations need prospective employees to possess a variety of skills. To a large extent, a degree is only one desired qualification. Workers must also possess proven analytical and problem-solving ability, excellent written and verbal communications skills, experience in a particular specialty, assertiveness and motivation, strong attention to detail, and a willingness to work long hours, if necessary.
Whereas very few universities or colleges offer formal programs of study in management consulting, many fields provide a suitable background. These include most areas of business and management, as well as computer and information sciences and engineering. Management consulting firms also provide extensive training on the job. The method and extent of training can vary, based on the type of consulting and the nature of the firm. Information systems, industrial production, and other highly technical consulting requires particularly extensive formal training, but training for other types of consulting work often is less rigorous.
Management and leadership classes and seminars are available throughout the United States; some are hosted by volunteer senior executives and management experts, representing a variety of businesses and industries. Some large firms invest a great deal of time and money in training programs, educating new hires in formal classroom settings over several weeks or even months, and some even have separate training facilities. Small firms often combine formal and on-the-job training.
Entry-level positions within the management and public relations industry involve very little responsibility at the beginning. Striving for and displaying quality work results in more responsibility. Most management consulting firms have two entry-level positions. Workers who hold bachelor’s degrees usually start as research associates; those with graduate degrees usually begin work as consultants. Successful workers progress through the ranks from research associate to consultant, management consultant, senior consultant, junior partner, and after many years, to senior partner. In some firms, however, it is very difficult for research associates to progress to the next level without further education. As a result, many management consulting firms offer tuition assistantships, grants, or reimbursement plans so that workers can attain a master’s in business administration or another degree.
In business consulting firms, workers usually have extensive formal education, such as a master’s or doctoral degree, in a relevant field. Additionally, few start in business consulting firms without some prior experience. Often, they have worked as university or college professors or as researchers in government or private industry. New entrants normally begin as research assistants and work under experienced consultants, until they are able to carry out projects independently.
In public relations, employers prefer applicants with degrees in communications, journalism, English, or business. Some 4-year colleges and universities have begun to offer a concentration in public relations. Because there is keen competition for entry-level public relations jobs, workers are encouraged to gain experience through internships, co-op programs, or one of the formal public relations programs offered across the country. However, these programs are not available everywhere, so most public relations workers get the bulk of their training on the job. At some firms, this training consists of formal classroom education, but in most cases, workers train under the guidance of senior account executives or other experienced workers, gradually familiarizing themselves with public relations work. Entry-level workers often start as research or account assistants and may be promoted to account executive, account supervisor, vice president, and executive vice president.
Voluntary accreditation programs for public relations specialists and management consultants, respectively, are offered by the Public Relations Society of America and the Institute of Management Consultants. Both programs are recognized marks of competency in the profession and require that workers have been employed in the field for several years.
Almost all workers in management services receive on-the-job training, and the remainder usually have prior work experience in a related field. Most managerial and supervisory workers gain experience informally, overseeing a few workers or part of a project under the close supervision of a senior manager. Although it is less common, some large firms offer formal management training.
Workers who advance to high-level managerial or supervisory jobs in management services firms usually have an extensive educational background. For example, a worker with an electrical engineering degree might start work in a construction management firm as a field inspector and advance quickly. On the other hand, a worker without such a degree, but with many years of construction experience, might also hold the position of field inspector. However, the latter employee will be at a disadvantage for further advancement. Frequently, the highly technical nature of work in these firms makes it difficult for less educated workers to advance.
Job Outlook
Between 2000 and 2010, wage and salary jobs in the management and public relations services industry are expected to grow by 42 percent—nearly triple the 16 percent growth projected for all industries combined, ranking it among the most rapidly growing industries. Projected job growth can primarily be attributed to the continuing complexity of business. Among other things, today’s managers must deal with rapid technological innovations, such as the impact of electronic business ("e-business"). Managers also must deal with changes in government regulations, growing environmental concerns, and the continuing reduction of trade barriers resulting in an increasingly global economy. Because it has become difficult to keep abreast of these changes, corporations, institutions, and governments will increasingly need well-trained, well-informed management and public relations services professionals.
Accompanying this changing business environment will be new competitive pressures that also will help spur industry growth. Firms today must produce higher quality goods and services more cheaply, or else lose business to more efficient domestic or foreign competitors. To cut costs, firms increasingly turn to “outsourcing,” which means eliminating some in-house staff—such as internal public relations specialists or office managers—and contracting with outside firms to handle these functions. Often, these outside firms are more expensive than in-house workers in the short run, but are advantageous because they can easily be dismissed, once they are no longer needed. As businesses seek to cut costs over the long term, outsourcing in areas such as information systems, strategy, public relations, and human resources planning should continue to boost employment in the management and public relations services industry.
Each segment of the industry will grow at a different rate, for a variety of reasons. The management consulting segment will continue to grow rapidly, as demand for management consulting services increase. Contributing to this growth is a rise in the demand for information technology and the expansion of e-commerce. Most organizations today have little e-business experience and rely heavily on consultants to develop e-business strategies and integrate technologies. But in this maturing market, mergers, acquisitions, and downsizing will become more common, as firms compete by attempting to offer a broader range of consulting services. The resulting consolidation will temper employment growth.
The public relations segment also should experience faster growth, due to the growing importance of business media and the corresponding role of public relations. However, employment growth in the management services and facility support services sectors is being adversely affected by competition from other establishments providing one specialized service, such as janitorial or guard services.
Earnings
Earnings in management and public relations services
typically are considerably higher than the average for the entire private sector
of the economy. Nonsupervisory management and public relations workers averaged
$674 a week in 2000, compared with $474 for workers throughout private industry.
Earnings in the largest occupations in management and public relations services
appear in table 2.
| Table
2. Median hourly earnings of the largest occupations in management and
public relations services, 2000 |
| Occupation |
Management
and Public Relations |
All
industries |
| Chief executives |
$65.75 |
$54.72 |
| General and operations
managers |
40.68 |
29.41 |
| Financial managers |
35.32 |
32.22 |
| Construction managers |
33.00 |
28.00 |
| Management analysts |
29.47 |
26.46 |
| Public relations managers |
27.59 |
26.22 |
| Computer programmers |
27.46 |
27.69 |
| Administrative services
managers |
21.36 |
22.63 |
| Public relations
specialists |
21.01 |
19.03 |
| Customer service
representatives |
12.43 |
11.83 |
These data do not reflect earnings for self-employed workers, who often are paid
very well. Also, both managerial workers and high-level professionals can make
considerably more than the industry average. According to a 2000 survey by the
Association of Management Consulting Firms, the average total cash compensation
(salary plus bonus/profit sharing) for research associates was $37,616;
entry-level consultants, $56,285; management consultants, $69,865; senior
consultants, $89,117; junior partners, $111,097; and senior partners, $191,284.
According to a 2001 survey conducted by Abbot,
Langer and Associates, the median annual cash compensation for junior
consultants was $40,210; consultants, $53,207; senior consultants, $74,195;
principal consultants, $93,690; and senior or executive vice presidents
(ownership interest), $160,000.
In addition to a straight salary, many workers
receive additional compensation, such as profit-sharing, stock ownership, or
performance-based bonuses. In some firms, bonuses can constitute one-third of
annual pay.
Only 2.1 percent of workers in management and
public relations services belong to unions or are covered by union contracts,
compared with 14.9 percent of workers in all industries combined.
Source:
Career Guide to Industries, Bureau of Labor Statistics
|