Apparel Retail - Hiring Process and Pay
Retail is also a hot place for MBAs. According to a recent survey in MBA Style magazine, only half of the discount stores in 1986 were around in 1995. With so much need for improvement, retail companies are scouting for MBAs who are high on reinvention and ingenuity. They are also seeking HR employees who can limit the high turnover that takes place in many segments of fashion. MBAs who are considering their retail options will also want to pay attention to recent cultural trends that affect sales. These include consumer debt, company conglomeration and deconglomeration, and generational spending habits.
Pay and Perks
While entry-level salaries vary quite drastically within retail, trainees at large companies and department stores report annual earnings of approximately $30,000. Once they move up the corporate chain, many of these trainees can look forward to twice that much money in three to five years. Commissions add up - and retail salespeople with exceptional fashion sense and people skills can rake in juicy salaries. Some insiders in retail report earnings as high as $60,000 to $100,000 a year. Other perks? Insiders from more flashy and prestigious companies report invitations to parties, resorts, shows, and posh summer homes.