As a PMP certification holder, you possess a unique set of skills that are highly valued in the project management realm. However, have you ever considered leveraging your expertise in a seemingly unrelated field? The retail and restaurant industries offer lucrative opportunities for those with your qualifications, particularly in store manager positions. Contrary to popular belief, these roles can provide substantial financial rewards and career growth prospects.
If you are not PMP certified yet, you can start your journey today by enrolling in Master of Project Academy’s PMP courses:
Breaking the Stereotype
Let’s face it, the image of a store manager conjures up visions of harried individuals dealing with disgruntled customers and endless inventory issues. However, the reality is far more complex. Modern retail and restaurant management positions demand a diverse skill set that aligns surprisingly well with the PMP skillset.
- Strategic Planning: From seasonal promotions to new product launches, store managers are responsible for developing and executing strategies that drive sales and customer satisfaction.
- Risk Management: Supply chain disruptions, labor shortages, and fluctuating consumer demand are just a few of the risks store managers must anticipate and mitigate.
- Team Leadership: Leading a diverse team of employees, fostering a positive work environment, and ensuring high performance are all critical aspects of a store manager’s role.
- Budgeting and Financial Management: Store managers are responsible for managing budgets, controlling costs,and maximizing profitability.
Sound familiar? These are precisely the skills honed through PMP certification and experience.
The Allure of Six-Figure Salaries and Bonuses
Contrary to the perception that retail and restaurant jobs are low-paying, many major chains offer store managers the potential to earn six-figure salaries and substantial bonuses. At Apple, the average total pay for store managers is $135,625. At Walmart, store managers can earn between $90,000 and $170,000, with some even surpassing $500,000 when factoring in bonuses and stock awards . Similarly, The Home Depot and Lowe’s boast average total pay packages of $164,097 and $151,589, respectively, for their store managers.
The allure extends beyond big-box retailers. Fine dining restaurant managers can earn between $62,000 and $82,500 annually, while district managers at chains like Taco Bell can potentially earn over $100,000 in total compensation. Even at fast-casual establishments like Chipotle, store managers can expect a median total pay of $69,000, with top earners reaching $82,000.
- Read more about the dual power of PMP Certification and soft skills for career and salary advancement
Transferable Skills: Project Management Expertise in Action
As a PMP certification holder, you possess a wealth of transferable skills that are highly valuable in retail and restaurant management roles. Your ability to lead teams, manage budgets, and ensure efficient operations aligns perfectly with the demands of these positions. Just as you would in a traditional project management setting, store managers must coordinate various moving parts, from inventory management to staff scheduling and customer service.
Moreover, your expertise in risk management and problem-solving can prove invaluable in the dynamic environments of retail and restaurant operations. Whether it’s addressing supply chain disruptions, handling customer complaints, or navigating staffing challenges, your PMP-certified skill set equips you with the tools to tackle these issues head-on.
- Master the art of project management with chess strategies
Get Up and Move!
If you’re the type who thrives on action and can’t stand being confined to a desk, retail and restaurant management might be your calling. These roles are anything but sedentary. You’ll be constantly on the move, interacting with customers, coaching employees, and troubleshooting issues as they arise. If you crave a dynamic, fast-paced work environment, you’ll find it here.
Career Growth and Advancement Opportunities
While the retail and restaurant industries may not be the first choice for many PMP certification holders, they offer ample opportunities for career growth and advancement. As a store manager, you can gain valuable experience in leadership, operations management, and strategic decision-making, all of which are highly transferable to other industries.
Many major chains, such as Whataburger, In-N-Out Burger, Apple, Costco, Target, and Walmart, have well-established career paths for store managers, allowing you to climb the corporate ladder and potentially transition into regional or district management roles. Here is additional compensation information for these key players and who have significant international presences:
- Taco Bell: Taco Bell has been testing a program offering select managers a $100,000 annual salary. Taco Bell has a significant international presence, with over 800 restaurants in 31 countries outside of the United States. They have been expanding rapidly, especially in Spain, India, China, and the UK.
- Chipotle: Chipotle has announced six-figure salaries for general managers. Chipotle has a smaller international footprint compared to Taco Bell, with locations in Canada, the United Kingdom, France, and Germany.
- Whataburger: Whataburger has enhanced their general manager position to an “operating partner” with a six-figure salary and bonus potential. Whataburger primarily operates in the United States, with a few locations in Mexico.
- In-N-Out Burger: In-N-Out Burger has been known to pay store managers an average of $160,000 annually since 2018. In-N-Out Burger is known for its limited geographic reach, mainly operating in the western United States and a few locations in Texas.
- Raising Cane’s: Store Managers can make up to $174,000. Raising Cane’s has a growing presence, primarily in the United States with over 650 locations across 36 states but also expanding internationally, with locations in Kuwait, Bahrain, Saudi Arabia, and the United Arab Emirates.
- Apple: Apple has a vast global presence, with retail stores in 25 countries and online stores serving over 100 countries.
- Costco: Costco operates warehouse clubs in multiple countries, including Canada, Mexico, the United Kingdom, Japan, South Korea, Taiwan, Australia, and Spain.
- Target: Target primarily operates in the United States, but has recently ventured into Canada. However, they closed all Canadian stores in 2015.
- Walmart: Walmart has a significant global presence, operating various store formats in 24 countries under different banners.
The PMP Advantage
Additionally, your PMP certification serves as a differentiator, setting you apart from other candidates and positioning you for accelerated career progression. PMPs possess a unique advantage in this space. Your project management expertise, combined with your ability to lead teams, manage budgets, and mitigate risks, makes you an ideal candidate for a store manager role.
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The Bottom Line
While the retail and restaurant industries may seem like an unconventional choice for PMP certification holders, the potential rewards are undeniable. With the opportunity to earn six-figure salaries, substantial bonuses, and gain invaluable management experience, these roles present an enticing alternative career path. By leveraging your project management expertise and embracing the challenges of these dynamic environments, you can unlock a world of possibilities and financial success. So, why not consider exploring the untapped potential of retail and restaurant management roles? The rewards may surprise you.
Your Call to Action
Are you ready to take the leap? Research the companies mentioned in this article, network with current store managers, and start exploring the exciting career opportunities available in retail and restaurant management. Your next six-figure job might be just a few clicks away.