Since the 1970s, more and more students have been interested in managerial and administrative careers, both undergraduate and postgraduate. This is because a business degree opens a variety of jobs in a variety of fields and provides useful skills in almost every aspect of commerce. In addition, salary opportunities are also quite high in all countries.
Next we will talk about the types of managerial and administrative careers that exist and what are the best salary opportunities that exist in some specializations.
The types of careers basically obey the types of business management. In that sense, they can be distributed in two main parts: by hierarchy or by area. Let’s look at the types of careers in each type of management below.
Organizational management is often addressed by identifying business functions and assigning leadership to those functions. Each company requires the fulfillment of a variety of different tasks that, when properly coordinated, create value through the production of products and/or services. For each of these tasks, there must be a manager or administrator.
In that order, leadership roles are given with authority and responsibility over these different tasks or areas of administration. That is why management positions are created with authority to direct and manage a department. The areas of management can be marketing, finance, human resources, operations, software development and IT, for example.
The managers of each area are usually also specialists in it, with the ability to lead their teams, balance budgets and think tactically (and sometimes strategically, at the upper levels).
Roles of functional management
A functional manager is responsible for executing a specific organizational task within the functional areas, through the organization and leadership of an organization’s talent in a given field. He has a high level of knowledge and experience in the area he manages, so he is trained to improve productivity and practices.
To clarify the role and responsibilities, here is an example. In the case of a human resources manager, he must supervise all operations within the scope of human resources. In a medium or large-sized organization, this could include the administration of payroll specialists, recruitment, talent development, legal and a variety of other specializations within the scope of a human resources team.
The responsibilities of a manager or administrator are not to perform each specific task, but to understand what is required to complete these tasks. For this reason, you must have a high level of technical knowledge so that you can ensure that each individual on the team has the skills, resources and alignment necessary to carry out these functions effectively.
To understand how all this develops in an organization, just think about how departments are divided and that way we can see what types of management areas exist from a functional view. Large companies, above all, are responsible for giving their employees an organizational chart where the organization of all departments is arranged, to understand who informs who and with respect to what tasks.
An organization can have many different managers, in many different titles, levels of authority and levels of the management hierarchy. Almost all organizations have these three levels of management:
- Low-level managers
- Middle-level managers
- Senior managers
These managers are classified in a hierarchy of authority and perform different tasks. The structure in most companies ends up being pyramidal. We explain the responsibilities of each manager at their level.
These managers occupy positions on the board of directors, such as president, vice president, CEO, etc. High-level managers play an important role in mobilizing external resources and are accountable to shareholders and the general public.
They can hold positions as general managers, branch managers and department managers. They are responsible to senior management and are accountable for the operation of the department.
Middle-level managers devote more time to organizational and directional functions than top-level managers. Among their roles we have:
- Execute organizational plans that comply with company policies and senior management objectives.
- Disseminate and discuss information and policies by all levels of management.
- Inspire and guide low-level managers towards better performance.
Among the functions to fulfill we have:
- Design and implement effective work systems and group and intergroup information.
- Define and monitor performance indicators at the group level.
- Diagnose and solve problems within and between work groups.
- Design and implement reward systems that support cooperative behavior.
They may hold positions as supervisors, section chiefs or foremen. These managers focus on controlling and directing, with the following responsibilities:
- Assignment of tasks to employees.
- Guide and supervise employees in daily activities.
- Ensure productivity in terms of quality and quantity.
- Make recommendations and suggestions.
- Manage employee problems.
They are also known as first-level agents, are role models for employees and provide:
- Basic Supervision
- Performance feedback
- Staff supervision
Highest paid management and administrative careers
Managers are in most countries some of the highest-paid professionals. If you want to choose an ambitious leadership career, you can choose from the 10 highest paid management careers.
Architecture and Engineering Manager
Dedicated to organizing engineering and architecture projects. Companies from industries such as manufacturing and architectural and engineering services depend on experienced professionals to handle responsibilities such as: hiring employees, supervising schedules, coordinating budgets, etc.
These professionals usually have a degree in engineering or architecture. They can start working with their careers for a short time, just to learn what is necessary from work. Over time, they increasingly assume responsibilities, such as solving problems, making decisions, leading teams and working on complex projects.
As supervisors, architecture and engineering managers naturally supervise their employees, verifying not only their work but also their methods. They also improve tasks and optimize construction processes. And usually they do not get too much out of their entry career, because they create the general concepts and designs for a product or project, solve problems and lead research and development teams.
IT and Information Systems Manager
In the field of technology, these managers can earn a lot of money. These managers, sometimes called information technology (IT) managers or IT project managers, play a crucial role in an organization’s computer systems.
Among its responsibilities is to find out what IT and IT professionals the organization needs on staff, supervise those workers, manage the planning, installation, implementation, updates and security of computer systems and other new technologies.
On the other hand, administrative responsibilities vary according to the exact job titles of each computer expert.
Marketing managers play an important role in how companies use their budget efficiently to make as many sales as possible and generate revenue.
These professionals are up to date with market trends to determine how much demand there is for a product or service and in which markets that product could fit. To obtain this information they rely on data produced by surveys and research.
They are also very involved in the product development process. They also supervise staff and collaboration between teams and develop plans and strategies for advertising campaigns.
Natural Sciences Manager
Not only do businesses offer well-paid positions. In the field of science, managers can provide their leadership skills and be very well paid. These professionals manage employees, research projects and administrative policies. They collaborate with the top executives of your organization to develop research objectives and determine the best way to meet them.
Natural science managers determine what personnel, equipment, materials and training are necessary for a project and coordinate the required budget. Their tasks are mostly administrative and supervisory, although in some cases, managers develop their own research.
Financial managers are professionals who report on current finances, make investment decisions and set future goals and strategies. In other words they are responsible for safeguarding financial health. Among its tasks is preparing financial statements, summaries, reports and forecasts of all kinds.
Like other types of managers, financial managers supervise the work of lower-level financial employees. Although most of his time is devoted to data analysis to advise senior executives on making financial decisions that simply.
If you have a natural seller personality and you like challenges, being a sales manager can be the perfect career for you. Retail, wholesale, manufacturing and finance and insurance depend on sales managers to supervise their salespeople and their sales strategies.
His job is to set goals and develop strategies to grow all kinds of businesses. They should also know how to resolve customer complaints when conflicts arise.
And of course, they are in charge of hiring and training sales staff. Most of these managers have a university degree, but what really brings them to the job is the sales experience they have.
If you want to be a true boss then this race is for you. The job of senior executives is to ensure that an organization achieves its objectives. In that order, they set the objectives, monitor finances and budgets, determine how to reduce costs and ultimately are more concerned with the overall strategy (although they spend much of their time managing daily operations and administrative tasks).
The senior executive positions can be: executive directors (CEO) presidents, vice presidents, executive directors, financial directors (CFO), information directors (CIO), chief operating officers (COO) and sustainability directors.
Human resources manager
Human resources managers are professionals who supervise the work performance of an organization and interactions with employees. They are also the recruiters of new employees and talents for the organization. And in addition, they resolve conflicts between workers and handle disciplinary actions when necessary.
They are also the point of communication between employees and the administration. And ensure that the company’s policies are fully complied with.
Public Relations and Fundraising Manager
These managers develop strategies to determine how an organization, nonprofit or otherwise, will communicate with members of the public. Public relations managers oversee the material that organizations use to build and improve the public perception of their organization or client.
While fundraising managers play an important role in obtaining donations, grants and other forms of funding in nonprofit organizations.
Training and Development Manager
Training and development managers are professionals who plan and supervise training opportunities. In other words, they are responsible for adding value and increasing productivity in an organization through state of the art training.
Part of the job of a training and development manager is to use resources well, and that includes making and maintaining a budget. As for training, they acquire training materials from suppliers, but they can also develop their own materials to teach employees.
This is another type of management work for which it is not enough to have a university degree. To obtain one of these positions it is necessary to have extensive experience in the sector, basically to be an expert, because you will be the one to instruct the new employees or professionals.