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Loss Prevention Managers
Loss Prevention Managers plan and direct policies, procedures, or systems to prevent the loss of assets. Determine risk exposure or potential liability, and develop risk control measures.
Table of Contents
Job description
Loss Prevention Managers plan and direct policies, procedures, or systems to prevent the loss of assets. Determine risk exposure or potential liability, and develop risk control measures.
- Coordinate or conduct internal investigations of problems such as employee theft and violations of corporate loss prevention policies.
- Administer systems and programs to reduce loss, maintain inventory control, or increase safety.
- Review loss prevention exception reports and cash discrepancies to ensure adherence to guidelines.
- Train loss prevention staff, retail managers, or store employees on loss control and prevention measures.
Salary
Loss Prevention Managers with little to no experience tend to make between $52550 and $75460 while the more experienced ones can earn over $143230 per year.
| Top 5 paying states | Hourly | Annual |
|---|---|---|
| DC | $71 | $147,460 |
| CA | $69 | $143,350 |
| NJ | $67 | $138,820 |
| CO | $67 | $138,490 |
| VA | $65 | $134,500 |
One of the easiest ways to increase your salary as a Loss Prevention Manager is to move to a higher paying state like DC. Right now, the highest paying states for Loss Prevention Managers are DC, CA, NJ, CO and VA.
However, a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be twice as high than where you are currently at now.
Three other factors that can increase your salary as a Loss Prevention Manager is the degree you hold, the industry you work in, and lastly the company you work for.
Requirements
We asked other Loss Prevention Managers what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a High School Diploma.
Other than that, we also asked them what did they major in and here are the most popular majors that came up.
| Natural Resource Recreation and Tourism |
| Digital Communication and Media/Multimedia |
| Information Technology Project Management |
| Library and Information Science |
| Archives/Archival Administration |
Pros and Cons
Here are some of the pros and cons of being a Loss Prevention Manager.
| PROS |
|---|
| Suitable for people who likes to start and carry out projects |
| Suitable for people who values achievements and are results-oriented |
| This career is perfect for people who love to work indoors. |
| One of the highest paid careers in the world |
| CONS |
|---|
| Not suitable for people who likes to work with designs |
| It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career. |
| Long working hours (More than 40 hours per week) |
What is the job like
75% of Loss Prevention Managers said they were satisfied with their job and 62% said they feel like their job is making other people’s lives better.
Is this right for me
You can read more about these career personality types here.
People who are suitable for this job tends to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business..
They also like following set procedures and routines. They like working with data and details more than with ideas.
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Related career information
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