Are you considering a career in hospitality management? With a degree in this field, you can expect to earn a competitive salary and enjoy a range of benefits. To get a better understanding of the type of salary you can earn with a degree in hospitality management, let's take a look at individual degrees and the typical compensation of the corresponding positions. The American Hotel & Lodging Association reported that the industry as a whole generally pays more than the minimum wage in the United States and that a minimum of 90 percent of workers in entry-level positions in most hotels start with wage rates higher than the statutory minimum wage. Major theme parks and other tourism and hotel companies may even set their own minimum wages considerably above federal and state minimum wage requirements.
The hotel industry is one of the largest industries in the world, representing 10 percent of the global economy, as reported by the World Travel Tourism Council. While this field offers a wide range of career options that allow you to start from the “bottom up”, actual work experience is an important determining variable when considering your projected salary. As with all jobs, average salaries vary depending on your geographical location and the demand to fill positions. The bachelor's degree in hospitality management is the most popular degree in the field, and hospitality workers can fill mid-level and even higher positions with just a bachelor's degree if they have sufficient experience.
In addition to a business core, the bachelor's degree in hospitality management covers everything from food service and shopping to hotel law and service operations management. While you can use the years of work experience through which you gradually assume broader responsibilities to move toward management, there is another way that will help you gain a more complete set of skills and start earning more money faster. The master's degree in hospitality management is based on the foundations of the bachelor's degree and provides students with the opportunity to concentrate on a particular area of professional interest, whether it be food and beverage operations, hospitality and tourism, resort management and operations, or a specific business specialization such as entrepreneurship, sales or marketing. Earning a degree in hospitality management separates you from the crowd of non-administrative workers.
Now that you've graduated with a degree in Hospitality Management, you're wondering what salary you can expect. Below is a brief list of typical bachelor's degree positions in hospitality, considering that many bachelor's degree holders get even higher paying management and director positions:
- Front Desk Manager: $45,000 - $60,000
- Food & Beverage Manager: $50,000 - $70,000
- Hotel Manager: $50,000 - $80,000
- Resort Manager: $60,000 - $90,000