Farm income varies greatly depending upon the type and size of farm. For example, vegetable and cotton farms generally produce the highest income. Beef and hog farms generate some of the lowest income. Large farms generally produce more income than smaller farms. However, some small farms that produce specialty crops have high incomes.

Many farms receive payments from the government. Some of these price supports are being phased out and may result in lower incomes for those who work on farms. Thus, many farm and ranch managers have business activities away from the farm to supplement their income.

Farm and ranch managers must supply their own benefits. As members of farm organizations, they may receive group discounts on health and life insurance. Farm and ranch managers may receive housing as a benefit. They may also receive paid vacations and health insurance.