The average hospitality management salary is hard to quantify without applying other factors. Within the massive, lucrative hospitality industry, your earning ability truly depends on where you live, what position you work in, and of course, what hospitality management degrees you’ve earned.
The hospitality industry is all over the world, deeply woven into the fabric of every community, wherever people are gathered. Within the US alone, the hotel segment of hospitality rakes in $199 billion in revenue, and restaurant sales breached $798 billion. All of these business spheres need strong management, and provide a tremendous variety of work environments, locations, and cultures.
No matter where you are, or what type of hospitality you want to work in, there are opportunities to get started. A degree in Hospitality Management from one of the 30 Best Online Hospitality Management Programs will help you get a leg up on the competition and give you a strong academic framework to apply at your business location. Your hospitality management salary will depend on your education, experience and ability to network. Picking the best degree program for you will help with all three.
Having a Hospitality Management degree is a valuable investment- in addition to learning business fundamentals like accounting, marketing, and strategic planning, Hospitality Management degrees also offer pertinent classes such as Food & Beverage Management, Event Planning, and Resort Tourism. Remember, the more varied your experience and skills are, the higher your hospitality management salary is likely to be.
These focused classes can make a big difference on the types of hospitality management salaries one can earn after graduating. The median salary for a restaurant manager is approximately $43,000, while for a hotel manager the median income is a bit over $47,000. Compare that to the General Manager role for both restaurants and hotels, which rate in at $47,000 and $53,000 respectively.
These numbers vary widely depending on geography. For restaurant managers the medians break down as follows:
- New York City – $62,000
- New Orleans – $42,000
- Oklahoma City – $39,000
- San Diego – $46,000
- Seattle $48,000
Obviously the cost of living in each city and the type of lifestyles may vary tremendously, but this is the general layout. For hotel general managers, the regional median yearly salaries are:
- New York City – $112,000
- New Orleans – $70,000
- Oklahoma City – $46,000
- San Diego – $54,000
- Seattle $50,000
Hotels and restaurants are the two largest segments of the Hospitality industry, but they are hardly the only pieces. Resorts, Country Clubs, Casinos, Amusement Parks all comprise Hospitality, and have their own offerings for salary ranges. Regardless of which company or market segment you start in, there are opportunities within hospitality all over the country (and world) to continue seeking more stimulating and rewarding work.
If this fast paced, growing, and steady long-term industry seems like it may be a fit for you, be sure to examine the 30 Best Online Hospitality Management Degrees in order to learn more about the Hospitality industry and how to maximize your hospitality management salary. The ability to work in Hospitality while simultaneously completing an online degree in the industry will provide the necessary skills and understanding of the market ecosystem to give you a competitive advantage and help you increase your earning potential.