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According to national statistics, full service restaurant managers in 2010 are earning up to $49,420 per year. In addition to competitive wages, advancement opportunities, cash incentives and perks of the food and beverage industry, a career as a restaurant manger carries a considerable amount of attractive benefits for industry professionals.
Medical, Dental And Vision Plans
Working in a restaurant usually entails certain restrictions as far medical benefits are concerned. Servers and bartenders are often offered limited -- if any -- health insurance only if they maintain a certain amount work hours after a predetermined probationary period. Restaurant managers are typically offered a benefits package upon hiring. Basic insurance cover for salaried restaurant managers generally include health, dental, prescription and vision and and may include immediate family members.
Full time restaurant managers are most often guaranteed a significant amount of paid vacation time. The amount of time off you may receive -- with pay -- is generally determined yearly by your amount of time with the company. Though it varies from restaurant to restaurant, managers typically accrue additional vacation days for each year they work with an establishment. As a restaurant manager you can usually expect anywhere from five days to ten days of paid vacation time during your first year of employment. Long term management staff -- 10 years or more -- are sometimes offered up to a full month of paid vacation time.
Many restaurants offer retirement and wealth building plans to their managers. The most common program is a 401k plan. When you participate in a 401k plan you are able to have the dollar amount of your choice withheld from your paychecks -- like a savings account -- and the company matches a predetermined percentage, adding additional funds to your account. It varies by restaurant, but generally the company "match" amount is between three and six percent. Typically, you must be at least 21 years of age to participate in 401k or other retirement planning programs.
One of the most common and easily accessible benefits for restaurant managers is the employee discount. Most restaurants offer managers free meals while they are on duty. This courtesy typically extends beyond the work hours with certain restrictions. Restaurant managers who patronize their establishments after working hours are often offered a discount of anywhere from 35 to 50 percent. In some instances, managers are allowed a certain amount of "freebies" per year and are able to use their discounts as expense accounts. If you are working for a chain or franchise, your manager discount is typically accepted at all locations; not just the one you work for.
Manager Bonus Programs
Managers of corporate -- and some private -- owned restaurants are commonly offered yearly or quarterly bonuses as rewards and incentives for maintaining quality service and favorable profits for the company. A typical management incentive plan offers up to five percent of the restaurant's Net Operating Profit (NOP) to operational mangers annually; about $2,000 to $10,000 per year. In most cases the general manager is required to share a portion of the bonus -- 20 to 40 percent -- with any qualified shift supervisors or assistant managers.
Aside from the basic restaurant manager benefits, many larger -- franchise and chain -- restaurants offer a small variety of additional benefits and services to managers and employees who hold authority positions such as shift supervisors and assistant managers. Some restaurants offer administrative leaders the option of adding life, accident or long term care insurance to their benefits packages. Others provide staff-funded employee assistance programs in which voluntary contributions are collected from employees -- participation is optional -- and allocated accordingly to employees who encounter unexpected life catastrophes.