What Salary Can I Expect to Make With a Hospitality Management Degree?
Similar to other wide-reaching industries, hospitality workers’ salaries range and depend upon role and industry sector: restaurants and food services, lodging, event planning, or tourism. The good news is that businesses continue to post solid earnings, and economists forecast sustained growth. Event planning makes a $106 billion contribution to national GDP. In 2016 the restaurant industry’s global revenue was $2 trillion, and the hotel industry’s revenue was $550 billion. In 2012 international tourist arrivals exceeded one billion for the first time, and annually travel & tourism makes a global economic impact of around $6.5 trillion. In other words, no matter the occasion, hospitality pays.
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What is Hospitality Management
Hospitality simply refers to the relationship between a guest and a host. Which means hospitality is a wide variety of things. When you’re inviting friends over for dinner you’re being hospitable. And when you’re welcoming hundreds of guests into your hotel you are doing the exact same thing. Some would argue that hospitality is something that universally binds together our humanity. Offering shelter, offering food and drink, and offering comforting amenities are acts not only of hospitality but deeply important gifts of caring. To feel welcome is no small gesture in today’s climate. Welcoming in all types of cultures, races, religions and ages makes for a diverse and pleasant experience had by all. Once again, businesses recognize the importance of welcoming. The moment an individual walks into a shop, spa, hotel, restaurant, night club or cafe sets the tone for what type of establishment it will be. A spa may welcome you in with a refreshing beverage and a robe. A restaurant greeter will welcome you with a smile, introduce you to your server and provide you with an accommodating table for your friends and family. A hotel concierge will hand you your keys to one of the most precious commodities- a place of shelter, rest and relaxation. As we have tried to illustrate here, hospitality is an ancient gift which has fluctuation depending on place, time, culture etc. And today, hospitality is a big business. Involving everything from monitoring the supply chain for goods crucial to your venue to human resources, to marketing.
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First off: What is Hospitality Management?
Hospitality is a long-standing tradition in many cultures. Across the United States, hospitality is as diverse as the landscape. Tourism changes with location- whether winding your way through historic cities and towns that dot the east coast or hiking the Rockies and surfing the Pacific on the West Coast, there’s something for everyone to explore. The people in the U.S. are equally diverse bringing with them traditional and fused culinary traditions passed down through generations. The restaurant industry booms in cities like New Orleans, San Francisco, and Chicago. Regionally speaking, there’s something unique to discover in even the most remote locations. According to the Bureau of Labor Statistics leisure and hospitality is the third fastest growing industry only after health care and business. This means that a wide-range of professions are open to individuals with an entrepreneurial spirit and a flare for the creative. Whether running a restaurant or hotel or planning events, hospitality management careers span a wide spectrum. Let’s take a look at the hospitality management career gambit below!
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Over the past decade, the hospitality and tourism industry has grown rapidly. With this increase in demand, also comes an increase in the need for excellent managers who know the ins and outs of the hospitality industry. For that reason, many hospitality and tourism professionals are returning to school for a graduate degree, often to move up corporate ladder. That means the need for flexible online hospitality degree options has rapidly increased in recent years. For many people in the hospitality industry, a great graduate degree option is a Master’s in Hospitality Management.
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The hospitality industry – which covers a wide spectrum of fields like lodging, event planning, restaurants and food services, and tourism – is one of the largest industries in the world. In 2016 the restaurant industry’s global revenue was $2 trillion, and the hotel industry’s revenue was $550 billion. In 2012 the number of international tourist arrivals exceeded one billion for the first time, and annually travel & tourism makes a global economic impact of around $6.5 trillion. In short, however you define it, hospitality pays.
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According to the American Hotel and Lodging Association, job growth in the hospitality industry is expected to rise by nearly 18 percent in the next year- a much faster rate than most industries. Hospitality comes in many forms, including tourism, hotel management, restaurant management, event planning, and auxiliary entrepreneurial activity. An Associates degree in hospitality management steps you through every aspect related to the field- meaning you’ll have your bearings set to a higher level than your average recruit in hospitality positions. Many individuals interested in this course of study are looking to own or manage a business or organization. A number of the degree programs listed below focus on the business side of hospitality management: law, accounting, marketing, budget, and more. Some of these degrees may also be customized, offering concentrations in tourism, hospitality, hotel management, restaurant management, nutrition and more.
We selected these programs because of their affordable tuition rates, high percentage of students receiving financial aid, quality of academic programming, percentage of students engaging with this program online, and for their flexibility-enhancing metrics. With those metrics in mind, we present you with these: our top 10 associates’s in hospitality management.
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