Average Salary and Perks
According to the American Hotel & Lodging Association (AHLA), the average salary for a General Manager (GM) of a hotel in the United States is $125,000 per year. However, this figure can vary significantly based on several factors, including:
- Hotel size and location: GMs of larger hotels in major cities typically earn higher salaries than those of smaller hotels in less populated areas.
- Experience and qualifications: GMs with more experience and higher levels of education tend to earn more than those with less experience and qualifications.
- Job responsibilities: GMs with additional responsibilities, such as overseeing multiple properties or managing large staff teams, may earn higher salaries.
In addition to their base salary, GMs may also receive various perks, such as:
- Health insurance
- Dental insurance
- Vision insurance
- Life insurance
- Paid time off
- Employee discounts
- Use of hotel facilities
Salary Growth and Future Outlook
The salary expectations for GMs are projected to continue to rise in the coming years. The AHLA predicts that the average salary for GMs will increase by 5% per year over the next five years, reaching an average of $150,000 per year by 2025.
This growth is expected to be driven by the increasing demand for qualified GMs. As the hotel industry continues to grow and expand, there will be a need for more experienced and qualified individuals to manage these properties.
Strategies for Increasing Your GM Salary
If you are interested in increasing your salary as a GM, there are several strategies you can follow:
- Gain additional experience: The more experience you have, the more valuable you will be to potential employers. Consider working in different roles within the hotel industry or taking on additional responsibilities within your current role.
- Acquire higher qualifications: Pursuing a degree in hospitality management or a related field can help you to qualify for higher-paying jobs.
- Network with other GMs: Attend industry events and connect with other GMs. This can help you to learn about new job opportunities and benchmark your salary against others in the industry.
- Negotiate your salary: When you are offered a GM position, be prepared to negotiate your salary. Research the going rate for GMs in your area and be prepared to ask for what you are worth.
Common Mistakes to Avoid
When negotiating your salary as a GM, there are several common mistakes to avoid:
- Not doing your research: Before you negotiate your salary, it is important to research the going rate for GMs in your area. This will give you a good starting point for your negotiations.
- Being too aggressive: It is important to be assertive when negotiating your salary, but you do not want to be too aggressive. This could alienate the potential employer and damage your chances of getting the job.
- Not being prepared to walk away: If the potential employer is not willing to meet your salary expectations, be prepared to walk away. There are other GM jobs out there, and you do not want to accept a position that does not pay you what you are worth.
Pros and Cons of Being a GM
There are both pros and cons to being a GM. Some of the pros include:
- High salary potential: GMs can earn a high salary, especially those with experience and qualifications.
- Job security: The hotel industry is relatively stable, and GMs are typically in high demand.
- Opportunities for advancement: GMs who are successful in their roles may have the opportunity to advance to higher-level positions within the hotel industry.
Some of the cons of being a GM include:
- Long hours: GMs typically work long hours, often including evenings and weekends.
- High stress: GMs are responsible for overseeing all aspects of a hotel’s operations, which can be stressful.
- Limited personal time: GMs often have limited personal time due to their demanding work schedules.
Overall, being a GM can be a rewarding career with high salary potential and opportunities for advancement. However, it is important to be aware of the challenges and demands of the job before making a decision about whether or not to pursue this career path.
GM Salary Forecast 2025: How Much Will Hotel GMs Make?
Table 1: Average GM Salaries by Hotel Size
| Hotel Size | Average GM Salary |
|---|---|
| Less than 100 rooms | $75,000 |
| 100-299 rooms | $100,000 |
| 300-499 rooms | $125,000 |
| 500+ rooms | $150,000 |
Table 2: Average GM Salaries by Location
| Location | Average GM Salary |
|---|---|
| New York City | $175,000 |
| Los Angeles | $150,000 |
| Chicago | $125,000 |
| San Francisco | $120,000 |
| Atlanta | $115,000 |
Table 3: Average GM Salaries by Experience
| Years of Experience | Average GM Salary |
|---|---|
| 0-5 years | $75,000 |
| 6-10 years | $100,000 |
| 11-15 years | $125,000 |
| 16+ years | $150,000 |
Table 4: Average GM Salaries by Education
| Education Level | Average GM Salary |
|---|---|
| High school diploma | $75,000 |
| Associate’s degree | $100,000 |
| Bachelor’s degree | $125,000 |
| Master’s degree | $150,000 |
