Are you looking for information on the salary trends for portfolio managers? Read through this article to find out more.
Production Manager Salary
According to national statistics, the production manager salary can range between $50,000 and $80,000 per year. They are responsible for the smooth functioning of production processes and mostly report to a manufacturing manager…
The recent economic recession has affected the salaries of many professionals and production managers are no different. However, analysts are predicting good growth in the coming years and production manager jobs are expected to grow. A production manager’s responsibilities can vary according to the industry they work in. The average salary hovers around the $65,000 per year mark. Production managers are employed in a plethora of industries ranging from the chemical and the automotive industry to food manufacturing units.
If you want to become a production manager you need to have a bachelor’s degree in fields like, manufacturing, engineering, or business management. During their study program, aspiring production managers learn subjects like computer aided designs, statistics, engineering, marketing, etc. One of the other prerequisites is having relevant experience in the related industry. Employers mostly hire individuals who have more than 5 years of work experience, to take on the responsibility of a production manager.
It is difficult to give the exact figures pertaining to the salary as the number is affected by various factors. Some of the factors are job location, industry, experience, and education. States with large number of manufacturing units are known to give better pay packets, especially if the cost of living in the area is high. Here are some of the salary figures for production managers in different states, these numbers will give you an idea of what kind of packages to expect.
Production manager salaries are also affected by the industry they work in, for example a production manager of a food manufacturing unit will get less salary than the one working for a chemical manufacturing unit. Here are some industry reported figures for the average salary, these figures are just to give you an estimated salaries.
The number of years of experience and the educational background are some of the other denominators which come in to play when calculating the salary of a production manager. Individuals with experience in the industry are known to earn pay packets that cross the $105,000 mark. To improve your chances of gainful employment it is advisable to get quality management certification offered by agencies like, The American Society for Quality.
One of the main tasks of a production manager is to ensure high standards are maintained in the assigned production area. Requisitioning raw material and ensuring adequate supply to meet production goals is also a part of the responsibilities. Evaluating the purchase of equipment and reviewing reports of the purchase office and assessing the cost and value parameters is one of their tasks. Looking in to the workforce management and making sure that enough resources are available to meet production goals is another duty of the manager.
They also generate reports regarding the production unit and present them at the board meeting to other managers and financial officers. Production managers also interact with the marketing team to understanding and meet the market demands. Sometimes, they are required to give presentations during client meetings to explain the production capacity of certain units. Conducting team meetings and assessing the progress of team members like engineers and floor officers is one of the administrative tasks they undertake.
The announcement of the American Recovery and Reinvestment Act of 2009 has helped stabilize the markets, and financial experts believe that there is going to be good growth in the manufacturing industry. Steady growth is expected in the coming years for this job profile.