Operations Management
Operations Management deals with the production of goods and services and also the efficiency of daily operations. Typical duties for an Operation Manager include many things ranging from supervising daily operations to planning the use of company resources. Typical managers are responsible for anywhere from a small team of 10 to a large group of 50 or more employees. Operations management generally looks over a wide range of operations and duties therefore it is sometimes difficult to specify it under one area of management.
Salaries Across Canada
The average median salary in Canada for an Operation Manager is on average roughly $62, 600 based on figures from payscale.com. This figure is based on the job description above and varies with experience. Across Canada the figures vary slightly with Operation Managers in Montreal and Edmonton making the most ($65, 500) and the lowest in Ontario ($55,755). See Figure 1.1 below for more details on salaries across Canada.
Figure 1.1: Meadian Salaries Across Canada
Salaries Based on Experience
Operations Mangers annual salaries vary significantly based on experience. The average starting salary across Canada for an Operation Manager with 1 year or less experience is $45,004. You can see a sizeable increase to $50,128 if you have worked in the industry anywhere from 1-4 years. In your 5th –9th year as an Operation Manager you could expect to be making around $56,522. With experience of 10 to 20 years most managers can expect to earn an average salary of $64,637. Twenty or more years as an Operations Manager will garner you a salary of roughly $73,890+. Experience in the industry will lead to significant increases in salary throughout your career as an Operation Manager.
Figure 1.2: Salary Based on Experience
Additional Bonuses
In Operations Management bonuses play a considerable part of an Operation Managers salary. Many projects within Operations Management are performance driven and with exceptional results bonuses can be significant. The average bonus paid annually for an Operations Manager across Canada is $4741.99. The province, which pays out the largest bonuses per year, is Alberta ($5500) and the lowest being Saskatchewan ($2000).
Figure 1.3: Bonuses Across Canada
Conclusion
Operations Management is currently a growing industry with current opportunities around the world. If you are looking for a career in Operations Management you can expect to earn a higher average starting salary that most entry level positions. They work load can sometimes be very demanding and strenuous but many find it a very rewarding position. If you are interested in more information on Operations Management and salary information please see references below.
References
- http://www.payscale.com/research/CA/Job=Operations_Manager/Salary
- http://jobs.state.va.us/careerguides/GeneralOperationManager.htm
- http://en.wikipedia.org/wiki/Operations_management
- http://swz.salary.com/salarywizard/layouthtmls/swzl_compresult_national_FA06000657.html
- http://www.managementhelp.org/ops_mgnt/ops_mgnt.htm
