If you’re aiming to become a hospitality manager, then it’s important to take a realistic look at the expectations of the job, from the perspective of the owners and investors. Financial acumen is a fundamental requirement for success in this industry. The primary goal of a hospitality manager is to make money, and their success is measured by the balance sheet. Financial managers who excel at handling money can earn a median salary of $117,000 and up to $200,000.
Managing the finances of a hospitality business is essential, regardless of the specific job description. Skills in cost-cutting, expense management, and revenue generation are all vital. Contrary to popular belief, profit and loss are not solely the general manager’s responsibility, but everyone’s responsibility in a management position.
If you’re looking to progress in your career, it’s helpful to keep track of your successes and build a record of accomplishments. When job searching, your resume and portfolio should showcase specific achievements that demonstrate your financial management and personnel coaching abilities. Hiring managers want to see the results of your work, not just your responsibilities.
In addition to financial literacy, a manager needs to be able to inspire, motivate, and lead their team to achieve the business’s goals. Effective leadership and life coaching skills are highly desirable in today’s job market. While formal training from a certifying association is preferred, soft skills can be demonstrated through your communication style, body language, and written materials.
Finally, the ability to create clear and compelling visuals through graphic art can be a valuable skill for hospitality managers. Reports and advertising often require strong visual messages, which can significantly impact the business’s success. A background in marketing and graphic design can give you an edge over other candidates, and help you land a higher-level management job.