Types of Degrees Retail Management Majors Are Getting
The following table lists how many retail management graduations there were in 2018-2019 for each degree level.
|Education Level||Number of Grads|
What Retail Management Majors Need to Know
O*NET surveyed people in occupations related to retail management and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.
Knowledge Areas for Retail Management Majors
Retail Management majors often go into careers in which the following knowledge areas are important:
- 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
When studying retail management, you’ll learn many skills that will help you be successful in a wide range of jobs - even those that do not require a degree in the field. The following is a list of some of the most common skills needed for careers associated with this major:
- 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
As a retail management major, you will find yourself needing the following abilities:
- 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?
People with a retail management degree often go into the following careers:
|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?
At the countrywide level, the racial-ethnic distribution of retail management majors is as follows:
|Race/Ethnicity||Number of Grads|
|Black or African American||23|
|Hispanic or Latino||66|
Students from other countries are interested in Retail Management, too. About 2.2% 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.
Amount of Education Required for Careers Related to Retail Management
Some careers associated with retail management require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.
Find out what the typical degree level is for retail management careers below.
|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%|
|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%|
|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%|
Online Retail Management Programs
In the 2018-2019 academic year, 105 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)||56||7|
|Certificate (1-2 years)||52||5|
|Certificate (2-4 Years)||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!
Explore Major by State
District of Columbia
Majors Related to Retail Management
You may also be interested in one of the following majors related to retail management.
|Major||Number of Grads|
|General Business Administration and Management||350,924|
|Interior Design Management||16,189|
|Supply Chain Management||9,732|
|Purchasing, Procurement/Acquisitions and Contracts Management||1,294|
|Research and Development Management||194|
|Customer Service Management||184|
*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.
- College Factual
- College Scorecard
- National Center for Education Statistics
- O*NET Online
- U.S. Bureau of Labor Statistics
- Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
More about our data sources and methodologies.
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