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Retail Management Major

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Retail Management

267 Bachelor's Degrees Annually
101 Master's Degrees Annually
#64 in Popularity
$103,330 Median Salary

Types of Degrees Retail Management Majors Are Getting

The following table lists how many retail management graduations there were in 2019-2020 for each degree level.

Education Level Number of Grads
Basic Certificate 412
Bachelor’s Degree 204
Undergraduate Certificate 135
Master’s Degree 96
Associate Degree 96

What Retail Management Majors Need to Know

People with careers related to retail management were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.

Knowledge Areas for Retail Management Majors

Retail Management majors often go into careers in which the following knowledge areas are important:

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  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

Skills for Retail Management Majors

A major in retail management prepares you for careers in which the following skill-sets are crucial:

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  • Speaking - Talking to others to convey information effectively.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.

Abilities for Retail Management Majors

Retail Management majors often go into careers where the following abilities are vital:

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  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Speech Clarity - The ability to speak clearly so others can understand you.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Speech Recognition - The ability to identify and understand the speech of another person.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.

What Can You Do With a Retail Management Major?

Below is a list of occupations associated with retail management:

Job Title Job Growth Rate Median Salary
First-Line Supervisors of Retail Sales Workers 3.8% $39,630
General and Operations Managers 9.1% $100,930

Who Is Getting a Bachelor’s Degree in Retail Management?

204 Bachelor's Degrees Annually
83% Percent Women
44% Percent Racial-Ethnic Minorities*
This major is dominated by women with about 83% of recent graduates being female.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of retail management majors is as follows:

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Race/Ethnicity Number of Grads
Asian 14
Black or African American 21
Hispanic or Latino 44
White 108
International Students 3
Other Races/Ethnicities 14

Geographic Diversity

Americans aren’t the only ones with an interest in Retail Management. About 1.5% of those with this major are international students.

How Much Do Retail Management Majors Make?

Salaries According to BLS

Average salaries range from $45,080 to $123,880 (25th to 75th percentile) for careers related to retail management. This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Median Salary for a Retail Management Major  ( 45080 to 123880 )
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250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
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250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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250K

Some degrees associated with retail management may require an advanced degree, while others may not even require a bachelor’s in the field. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to retail management have obtained the following education levels.

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Education Level Percentage of Workers
Less than a High School Diploma 3.5%
High School Diploma - or the equivalent (for example, GED) 20.0%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) 6.4%
Some College Courses 10.4%
Associate’s Degree (or other 2-year degree) 8.7%
Bachelor’s Degree 15.2%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master. 6.9%
Master’s Degree 6.5%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level. 1.7%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession. 0.2%
Doctoral Degree 22.0%

Online Retail Management Programs

In the 2019-2020 academic year, 102 schools offered some type of retail management program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level Colleges Offering Programs Colleges Offering Online Classes
Certificate (Less Than 1 Year) 0 0
Certificate (1-2 years) 56 5
Certificate (2-4 Years) 0 0
Associate’s Degree 37 4
Bachelor’s Degree 0 0
Post-Baccalaureate 0 0
Master’s Degree 2 1
Post-Master’s 0 0
Doctor’s Degree (Research) 0 0
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Retail Management Worth It?

The median salary for a retail management grad is $103,330 per year. This is based on the weighted average of the most common careers associated with the major.

This is 159% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,268,600 after 20 years!

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You may also be interested in one of the following majors related to retail management.

Major Number of Grads
General Business Administration and Management 343,202
Interior Design Management 15,201
Organizational Leadership 12,896
Supply Chain Management 9,941
Operations Management 8,397
Office Administration 4,447
Project Management 3,713
Non-Profit/Public/Organizational Management 2,905
Purchasing, Procurement/Acquisitions and Contracts Management 1,097
Transportation/Mobility Management 658
Risk Management 432
Science/Technology Management 256
E-Commerce 246
Research and Development Management 206
Customer Service Management 194

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

More about our data sources and methodologies.

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