How long will it take before I make at least 6 figures in business management and how long will it take until I get used to my job?

Business management is a broad term covering any type of management for any type of business. If the goal is to make at least 6 figures, I recommend the following to get there:

1. Go to a well respected business school. This does not mean that you need to get into Yale or Harvard, but you should get into a school that specializes in business management, offers a MBA program and has strong ties to the business community.


2. Target a growth industry. If your a business manager for Facebook, Apple or Google, making 100+K/year shouldn't be a problem. Getting a job at one of those places means attending a well respected business school and getting your MBA before applying. Getting straight A's or close to it, will also help.


3. Study a high paying type of management. Business managers can range from management of a small team of customer reps to managing the entire company's finances. Generally speaking managing people pays a lot less than managing finances. The training for people versus finance management varies a lot - so you may want to major in finance instead of getting a general business degree. Don't get me wrong, finance is not for everybody. You need to find an area of business that you are well suited for. Some people, for example, are great at managing sales teams. Others are great a managing temporary workers. You need to find your niche, but some niches pay a lot more than others.


4. Do whatever you can to get experience. The college students that make a big effort to get into intern programs (summer jobs) in the companies that they want to end up working for, are the the ones that get hired first. If you have to work for free, do it. You'll have a leg up on all the others who have no experience.

To answer your other question about what it takes to be a good manager, I would answer this by saying that a good boss is someone that people like, but also respect. People like you when you are friendly. People respect you when you are willing to roll up your sleeves and help get the work done. If you think a boss is someone that kicks back and tells others what to do, then you are mistaken. A good boss is someone that supports their team in every way possible.

To answer you question about "how long will it take until I get used to my job, I would say probably never. Good business managers are constantly learning and taking on new responsibilities. Each new person that you manage presents a new experience.

Good luck. Having your eye on management is a great start. And remember, if you really want to get good a business management fast, you can always start your own business. You may end up making 7 figures that way!

I will add one additional piece of advice that may not be as obvious. If your goal is to get to six figures, pick a part of the country that has a lot of high-paying jobs.

The Bay Area in California and New York City have some of the highest incomes per capita in the country. You're a lot more likely to be making $100k in Silicon Valley than you are in Iowa. The downside is that the costs of living are a lot higher so you're six figures probably won't feel like you thought six figures would.

To be a good business manager requires a couple fundamental things in my opinion:
1) A solid understanding of business. Education can help with this but you need to live and breathe business to really understand it in real-world terms. I'm not saying one or the other... both is best for most people. And you never stop learning. An MBA is the best way to get an all-around business education but I think it works best if you have a couple years of post-college work experience under your belt before getting it.

2) An ability to dive deep - you should want to understand why things are the way the are, how you can make them better, who your customers are and why they buy from you, etc. You need to have a passion for understanding things and improving things.

3) A respect for the people you work with and who work for you - good talent is one of the most important pieces to a successful business. If you have a great product and poor performers you will have a mediocre business. Understand what drives people and push them to be great.

Hello Dominick,
The answer depends on you. What you learn in the process, how you apply yourself and the value that you bring to any organization. Based on what you do, you can be there in a day or never be there even after 5 years.

The question to you is, why business management? What drives you to pick that and what do you want to do with business management?

It may not be the answer you want but I implore you to search within yourself on why you want to do this.

Another perspective on this:
Six figures can be earned through tenure, experience, responsibility and contribution you are willing to bring to the table. If you start in a company at a base of $60K / year and a 10 % increase every year it may take you 8 years. But there is no guarantee, you can be lucky and things might move quick or you can be unlucky and things don't move as quick.

Dominic,

i like your question, it is straight to the point...

i suggest you read a book called 'the one thing'

it will really help you do the right things to achieve 6 figure goal.