Why management and consultancy jobs are on the rise worldwide

Ask anyone within the world of business, and they will impress upon you the importance of management. Having a professional in the right position can play a huge role in a business turning a profit as opposed to making a loss. Indeed, across the third quarter of 2021, it was found that the management of companies and enterprises would create a nominal gross output of $733bn. The Bureau of Economic Analysis found that there was a nominal value addition of 1.9% of GDP, with an increase to around $438.3bn.

Management roles have always been very important to the Washington DC state economy. Indeed, those in government and government enterprise roles accounted for over one third (33.4%) of DC GDP in 2020. Though the COVID pandemic has caused a significant shift in how the economies of almost every state works, management roles are still key to the DC economy.

Across management occupations, around 7.947m people have been employed within the sector. The mean annual wage of these individuals is around $126,480. However, the top 75% of the industry earned around $159,550.

The reason for this high cost (and high income) for management positions is simple. As the home of government within America, Washington DC holds more government and management positions than other states. It is seen by many as a home of order and administration.

What are the most well-occupied management positions in Washington DC?

According to studies, the largest field for management occupations within DC includes management of companies and enterprise. Some 473,740 people were employed by this kind of business. This made up just shy of a fifth (19.56%) of those employed within the industry. They also ranked quite highly among income opportunity, with an average annual mean wage of $155,910.

The highest paying field within the study was those within computer systems design and other related services. Making up around 12.5% of the management employment (275,150 people), the annual mean wage for such a position was $169,220. The lowest, by contrast, came in real estate ($91,270) which coincidentally seen the second-highest percentage of industry employment at 16.2%.

The industries which seen the highest concentration of their workforce taking management positions included land subdivision (25.06%) and lessors of non-financial intangible assets (23.51%). Interestingly, these individuals could benefit from an annual mean wage of $127,190 and $143,250 respectively.

The highest paying industry in terms of annual mean wage that was found in DC for management occupations included securities, commodities, and financial investments ($196,280) and computer and peripheral equipment manufacturing ($191,240).

How do occupation numbers compare with other US states?

The District of Colombia has one of the highest concentrations of jobs within management occupations. Sitting at around 131.73 employed per thousand jobs, this was much higher than other locations such as Massachusetts (90.74), California (64.62) and New York (54.43).

Across metropolitan areas in the USA, only Boston, Cambridge and Nashua area (98.86) and the San Francisco, Oakland, and Hayward area (89.86) could boast higher concentrations than the Washington, Arlington, and Alexandria (84.27) area.