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Revenue manager hiring summary. Here are some key points about hiring revenue managers in the United States:
Here's a step-by-step revenue manager hiring guide:
A revenue manager is responsible for conducting price analysis and revenue strategies to support business development and improve marketing techniques. Revenue managers research on the current market trends, evaluate statistical data of resources, maintain reasonable rates, and match the competitiveness of other hotel industries. They also work closely with the marketing and public relations team on releasing press releases, managing media appearance, and publishing content on the digital platform. A revenue manager must have excellent communication and organizational skills, tracking business and financial transactions, and coordinating with potential clients for partnerships.
Before you post your revenue manager job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a revenue manager for hire on a part-time basis or as a contractor.
A revenue manager's background is also an important factor in determining whether they'll be a good fit for the position. For example, revenue managers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list shows salaries for various types of revenue managers.
| Type of Revenue Manager | Description | Hourly rate |
|---|---|---|
| Revenue Manager | Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors, sales agents, and financial staff members. | $28-59 |
| Manager, Strategy | A strategy manager is a professional who reviews a company's objectives for growth and works with executives to formulate actionable plans to achieve these objectives. To make comprehensive recommendations, strategy managers must conduct data analysis of the organization as well as the overall industry... Show more | $37-73 |
| Product Marketing Manager | A product marketing manager is responsible for managing the company's goods and services, promoting brand awareness, developing effective marketing campaigns to attract existing and potential clients, generating more revenues, and achieving its profitability goals. Product marketing managers must have excellent knowledge of the marketing industry, as well as broad ideas on the current industry trends to meet clients' demands and identify business opportunities... Show more | $39-71 |
Including a salary range in the revenue manager job description is a good way to get more applicants. A revenue manager salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a revenue manager in Iowa may be lower than in California, and an entry-level engineer typically earns less than a senior-level revenue manager. Additionally, a revenue manager with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $108,052 | $52 |
| 2 | District of Columbia | $98,602 | $47 |
| 3 | Utah | $97,470 | $47 |
| 4 | Massachusetts | $95,474 | $46 |
| 5 | Rhode Island | $94,519 | $45 |
| 6 | Washington | $94,336 | $45 |
| 7 | New Jersey | $93,782 | $45 |
| 8 | North Carolina | $93,593 | $45 |
| 9 | Maryland | $92,889 | $45 |
| 10 | Virginia | $91,368 | $44 |
| 11 | New York | $90,441 | $43 |
| 12 | Indiana | $88,455 | $43 |
| 13 | Tennessee | $87,849 | $42 |
| 14 | Texas | $87,709 | $42 |
| 15 | Pennsylvania | $87,264 | $42 |
| 16 | Nevada | $86,747 | $42 |
| 17 | Minnesota | $84,319 | $41 |
| 18 | Arizona | $83,388 | $40 |
| 19 | Georgia | $81,779 | $39 |
| 20 | Illinois | $78,769 | $38 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Meta | $143,724 | $69.10 | 429 |
| 2 | $140,705 | $67.65 | 474 | |
| 3 | eBay | $134,925 | $64.87 | 39 |
| 4 | Koch Industries | $134,512 | $64.67 | 17 |
| 5 | DoorDash | $133,882 | $64.37 | 87 |
| 6 | Asana | $128,414 | $61.74 | 8 |
| 7 | Essex Property Trust | $124,462 | $59.84 | 2 |
| 8 | $123,768 | $59.50 | 3 | |
| 9 | Palo Alto Networks | $121,926 | $58.62 | 93 |
| 10 | Cloudera | $121,846 | $58.58 | 6 |
| 11 | Schrödinger Inc | $121,395 | $58.36 | |
| 12 | DocuSign | $118,492 | $56.97 | 15 |
| 13 | Synopsys | $118,456 | $56.95 | 3 |
| 14 | Salesforce | $117,168 | $56.33 | 84 |
| 15 | Zoetis | $116,204 | $55.87 | 11 |
| 16 | Teradata | $115,732 | $55.64 | 6 |
| 17 | Trulia | $114,753 | $55.17 | |
| 18 | Fortinet | $114,698 | $55.14 | 6 |
| 19 | Splunk | $113,649 | $54.64 | |
| 20 | Expedia Group | $112,657 | $54.16 | 76 |
A good revenue manager job description should include a few things:
Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a revenue manager job description:
There are various strategies that you can use to find the right revenue manager for your business:
Recruiting revenue managers requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.
You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've selected the best revenue manager candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
After that, you can create an onboarding schedule for a new revenue manager. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Hiring a revenue manager comes with both the one-time cost per hire and ongoing costs. The cost of recruiting revenue managers involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of revenue manager recruiting as well the ongoing costs of maintaining the new employee.
The median annual salary for revenue managers is $86,270 in the US. However, the cost of revenue manager hiring can vary a lot depending on location. Additionally, hiring a revenue manager for contract work or on a per-project basis typically costs between $28 and $59 an hour.