Pros and Cons of a Career as a Global Enterprise Manager
A global enterprise manager is responsible for managing a company's resources across a wide range of industries including, but not limited to, financial, consulting, advertising and sales. Find out more about the pros and cons of a career as a global enterprise manager.
| Pros of a Career as a Global Enterprise Manager |
|---|
| Potential high earnings (median annual wage of about $173,000 for chief executives, $92,000 for industrial production managers)* |
| Sometimes experience may be substituted for higher education (some top executives begin in lower managerial positions)* |
| May work in a wide variety of industries (manufacturing, government, healthcare, etc.)* |
| Although often stressful, a career as a manager or top executive may be personally rewarding, since these people often create and implement strategies that lead to success for entire companies* |
| Cons of a Career as a Global Enterprise Manager |
|---|
| Slow growth predicted by the BLS (from -2% to 9% in the 2012-2022 decade, depending on occupation)* |
| Master's degree is usually required* |
| Managers typically work long hours* |
| Depending upon the industry, the work environment may be potentially hazardous (for example, production managers in manufacturing industries may have to wear protective gear when working in the production area)* |
| Top executive or management positions are usually stressful* |
Source: *U.S. Bureau of Labor Statistics
Essential Career Info
Job Description and Salary Info
There are many types of positions that fall under the category of global enterprise managers, such as executives, financial managers, consultants and production managers. Most people involved in top management are tasked with designing and implementing policies, procedures and goals within an organization. This generally entails consulting with staff, executives and board members, as well as working and negotiating with individuals outside of the company. Large businesses and corporations operate in a global environment, thus making it essential for those running businesses to be well versed in international trade and economic policies. Executives and managers tend to have a lot of responsibility and work long hours, sometimes being on-call nights and weekends. They're often held accountable if a company's not performing well.
On the other hand, the rewards may be great in terms of personal satisfaction and monetary compensation. According to the U.S. Bureau of Labor Statistics (BLS), chief executives had a median annual wage of around $173,000, as of May 2014. Industrial production managers earned around $92,000, while financial managers made about $115,000.
Requirements and Career Skills
There are many different career paths for someone interested in global enterprise management, making it difficult to define specific requirements. However, most executives typically have the minimum of a bachelor's degree. Many have earned master's degrees in business.
Production managers tend to have degrees in business or industrial engineering, while financial managers usually have degrees in economics, finance or accounting. Some top executives start in lower managerial positions and are able to substitute experience for education to gain promotions. Skills that are typically found in top managers include:
- Leadership
- Communication
- Management
- Decision-making
- Time management
Job Postings from Real Employers
Because global enterprise management encompasses such a wide variety of professionals, it's hard to give a specific set of criteria that employers are looking for. However, jobs within upper management typically require several years of experience in the management field. Additionally, employers are looking for people that are highly driven and motivated who understand the customer service process, change management and global economics. Below are some samples of job postings from August 2012:
- A maritime port company in New Jersey is seeking a senior manager in financial planning and analysis with 8-10 years of relevant experience. Applicant must have strong communication and presentation skills as well as excellent leadership skills and an orientation toward customer service. The minimum of a 4-year degree is also required.
- A global food supply group is looking for a senior manager of supply-chain logistics. The applicant will be responsible for a global team and a myriad of clients. The job involves warehousing and transport services, and the manager will be directly responsible for directing development logistics to provide outstanding service while optimizing costs. A minimum of a 4-year degree is required as well as 7-plus years of relevant work experience.
- A retail company in New York is advertising for a product-planning manager for the inventory department. A few of the responsibilities include generating purchase orders, reviewing merchandise inventory, coordinating distribution shipments and establishing goals. Five years of experience is necessary as well as a 4-year degree.
How to Get an Edge in the Field
Becoming a manager in any industry takes patience, since employers typically seek many years of experience. However, there are some things you can do to increase your chances of landing a top management position. According to the BLS, many managers start in lower-level positions and work their way up. Begin by learning everything about the business and working on your communication, decision-making, problem-solving and leadership skills.
Additionally, take advantage of any company training programs as well as executive development and certification opportunities. The Institute of Certified Professional Managers offers a program through which you may earn the Certified Manager (CM) credential. You'll have to meet education and experience requirements as well as pass three rigorous exams. However, CM certification demonstrates commitment and competency and may offer an advantage when seeking advancement.
Other Careers to Consider
Construction Manager
If you're interested in management, but aren't interested in the lengthy experience and education requirements necessary to be an executive, there are other similar career paths you might consider. One such career is that of a construction manager. These professionals manage construction projects, including planning, coordinating, budgeting and supervising. According to the BLS, many construction managers are self-employed. Although a bachelor's degree in construction science or a related field is preferred, an associate's degree with work experience may also be sufficient. Certification is typically not required, though may prove beneficial.
The BLS predicted that construction managers would see employment growth about as fast as the average for all occupations nationwide at 17% over the 2010-2020 decade. As of May 2011, construction managers had a median annual wage of about $84,000.
Administrative Service Manager
If you're looking for something with even fewer education requirements, you might consider becoming an administrative service manager. These managers take care of all the administrative service needs of an organization, including information management, mail distribution, facilities planning and office services. They might be in charge of overseeing clerical personnel and recommending policy and procedure changes in order to make organizational improvements. A high school diploma is typically all that's necessary, though sometimes a bachelor's in business, facility management or engineering is preferred. Certification is not required, but is offered by the International Facility Management Association and may be beneficial when seeking job advancement.
The BLS expected administrative service managers to experience average employment growth of around 15% from 2010-2020. As of May 2011, these managers had a median annual wage of about $79,500.
