Strategy management is one important role that an increasing number of companies never knew they needed. With the realization that strategy managers are the bane of many successful companies, newer startups and even some established companies are employing for this post.
Being a strategy manager isn’t as difficult as most people think; you only need a degree in a business-related course, as well as some years of experience working a business job. Combine both with excellent communication, analysis, and problem-solving skills and you’re on your way to being one of the best salary managers out there.
Before choosing strategy management as a career, however, it’s important to try determining how much you can potentially earn by working the average job. This article will show you the average salary of a strategy manager, as well as the best companies and states for high-paying jobs.
Strategy Manager Salary
According to Glassdoor, on average the strategy manager salary sits around the sum of $131,400 per year, based on an average calculated using over 800 salaries. Compared to most jobs available in the United States, it would be safe to say strategy management is one of the highest-paying jobs you can get at the moment.
If you’re living in one of the poorer states with a low standard of living, you shouldn’t expect companies to offer you this much. On the other hand, companies in developed cities are likely to pay significantly higher, but with more requirements and responsibilities.
Before 2020, the best way to get a better salary would be to move to a country with better-paying jobs, but that is no longer the case. Thanks to covid-19, companies have finally learned to work productively from home without cutting into an employee’s salary.
If you’re not willing to lock yourself in a home office every day, you can go through the following sections to learn about the best companies and cities to work as a strategy manager in the United States.
Top Companies Hiring for Strategy Manager Jobs
There are hundreds of companies hiring strategy managers, but you shouldn’t seek employment in any and expect salaries over a hundred thousand dollars. The average salary is an aggregate of some high salaries and some low salaries scattered almost evenly across the job market.
To earn anything higher than the quoted average, you must try getting employment in one of the top companies hiring strategy managers. Since getting them yourself can be a hassle, here is a list of some of the top companies hiring for strategy management jobs across the United States.
Working at Accenture seems like the height of success for most strategy managers, as they pay the best salary, and by a large margin. Working at Accenture in this position, you qualify to earn a base salary of about $190,781, calculated by the average of 104 voluntarily submitted salaries, according to Glassdoor.
In addition to the simply insane salary, you also qualify for a $10,000 average bonus annually, as well as additional benefits like paid time off and health insurance. Accenture is a multinational company based primarily in Ireland, but they also have a branch here in the United States.
If you couldn’t get employment at Accenture, Deloitte is another company that pays its strategy managers insanely. The average base pay is around $179,000, but employees also get an additional pay of around $30,000 annually. Deloitte is based primarily in England, but they have US offices and you can choose to work remotely if you want.
To be clear, getting employment at either of these companies isn’t easy by any means. You’ll need extensive experience, as well as clear proof that you’re capable of adding value to the company in the position.
Highest Paying States for Strategy Managers
With most of the companies paying strategy managers highly based outside of the United States, it’s clear that all of the best states for professionals in this career aren’t even in the United States. You may want to move to Britain if you want better salaries than what you’re currently getting.
However, there’s an increasing number of strategy management jobs that are remote, making it unnecessary to switch states. If you were hoping to work in a typical work environment and earn one of the best salaries, here are some of the states where you should hope to work as a strategy manager.
Companies based in Washington are known to pay excellently, and this trend continues to the post of strategy managers. Since there are many companies in Washington, you should expect an average hourly rate of about $66, which comes down to around $137,000 over the year.
There are about 2,000 strategy management jobs in the United States, which is a good number, compared to certain states. Before moving to Washington, however, you may want to secure relocation help with your employer, since it’s crazy expensive to live in the state.
- New Jersey
New Jerseyites may be unable to boast of a cheap state, but they can certainly boast of having some of the highest paying strategy management jobs. On average, a strategy manager at New Jersey earns $130,000, excluding bonuses and other entitlements that come with the job naturally.
There are a handful of jobs in New Jersey, making it a decent market to seek a job, but the state isn’t cheap to live in either. Residents of New Jersey have to pay higher than average for education, food, and transport, which will cut your salary massively.
Instead of moving to crazy-expensive states, you can simply seek strategy management jobs that you can do remotely to avoid the extra costs.
Strategy managers are one of the most in-demand professionals in the United States today, and the demand for them is growing. However, there are only a few competent software engineers to fill these roles in the several companies hiring them.
In this article, I’ve shown you in the write up above, the strategy manager salary in a typical American or Canadian company. Maybe it’s time to rebel against your boss for better pay or try switching companies.