by Nick W. » Tue Jul 02, 2002 12:31 pm
I think greg01 is in the right range, maybe even in the top 25% (and no you shouldn't double the numbers because you have higher sales). We have six locations in the northeast and the range for PMs is from the high 40s to mid 70s. What determines that range? A number of factors:
- tenure with the company; if a new hire, stability of past employment. If we take a chance on someone who's bounced around a lot, we would expect to pay less than we would to someone who's spent the bulk of their career at one store.
- experience level as a PM. A fairly new PM who has been promoted should not expect the same pay structure as someone with 10+ years of successful experience in the position.
- size of the operation. Ours range from $2 million to $6 million. It's a factor, but not the dominant one. Size means you can afford to pay more for better talent. It doesn't automatically mean that whomever you put in charge of a big operation is thus talented enough to be worthy of a bigger paycheck. Again, if a less experienced person is entrusted with running a large parts department, he/she should not necessarily worry if their paycheck is not commensurate with others running the same size operation. You got an opportunity, not an entitlement. If you're working for a good organization, and you do a good job, the money will follow the performance.
- store location. A store right in close to the city might justify higher pay than one upstate.
- strength of management skills. Obviously tougher to quantify and to some extent beauty is in the eye of the beholder, but a manager who is strong enough to supervise their own staff effectively, hire and recruit new personnel when needed, has low turnover because he/she keeps people happy in their work environment, is helpful and creative in problem solving with other departments -- all of those things would factor into higher pay. If on the other hand you have a PM who constantly needs help from a GM or P&S Director to do some of those things, that would suggest a lower range in pay package.
Hope that is helpful.