The average salary of a starbucks store manager
Starbucks operates more than 17,000 coffee shops around the world and has developed a reputation as an employee-friendly operation.
The company has worked hard to earn the loyalty of customers as well as its hourly and management workers, whom it rewards with pay and benefits that compare well to those of other restaurants and service business. Average compensation for managers, however, has been stagnant for several years, as of 2010, in the midst of a general economic downturn.
Managers are responsible for employee scheduling and training, inventory, ordering and receiving product, maintaining the store, drawing up financial reports and assisting the baristas when the store gets busy -- which in some locations is nearly all the time. Most begin at the company as hourly employees, known as in the company parlance as "partners," who work as baristas, greeting customers, taking orders and making coffee and tea drinks.
According to an online report at Glassdoor.com, the average annual compensation for a Starbucks store manager reached £27,854 in 2010, with the complete range running from £22,100 to £37,700.
Compensation improves somewhat with various benefits, including an annual cash bonus that averages £2,856, a stock bonus that averages £1,341, and a profit-sharing programme that averages £877. All managers also participate in the company's health insurance plan, as well as dental and vision plans. Managers have also cited flexible hours, a friendly atmosphere, opportunity for advancement and customer contact as other intangible benefits of working at Starbucks.
The company cut costs when a serious recession hit the economy in 2008. Raises were slashed to a minimal amount, vacation and personal time was cut and the health plan was altered to require more out-of-pocket expenses on the part of employees. The company pushed product sales hard, requiring managers to more aggressively market retail items such as coffee mugs, coffee makers and ground coffee to their walk-in customers.
Recently, the company has made some changes to improve its compensation for management employees. Starbucks has maintained health-care coverage as well as a stock-option programme, known as Bean Stock. The company has also increased its contributions to its 401(k) programme, a retirement savings plan that is available to hourly and salaried employees.