A poor start to the season has seen the Gers already falling four points behind bitter rivals Celtic and also being dumped out of the Champions League.
That has put pressure on boss Beale, who spent heavily on rebuilding his squad over the course of the summer.
Following a 1-0 loss against Celtic at Ibrox, there has been speculation about Beale’s position, though McManus believes that now is the time for the former QPR boss to build up the confidence of his squad.
The former Hibernian man thinks the Europa League group Rangers find themselves in, consisting of teams such as Real Betis, Sparta Prague and Aris Limassol is nothing the Gers cannot handle and Beale should make the most of the time he gets between now and the next derby to get things right.
“I think he has got time now, I think the group is okay in terms of Europe.
“I don’t think there are teams that they are going to be massively frightened of getting a tanking from. I think they will be competitive in every game”, McManus said on PLZ Soccer.
“So, I think he has got a chance there to build some confidence between now and 30th December, the next Old Firm game, they have got a clear run to pick up points at home domestically and keep the pressure on Celtic.
“But if he drops points, if they go seven or eight or ten points behind Celtic, he is going to be under severe pressure and he’d probably lose his job.
“But I think Rangers will get better, I think Celtic will get better, they have got good players to come in but I can see Rangers’ players settling in and getting better, to be honest.”
Beale will need to make sure Rangers do not lose any further ground to Celtic in the league in the coming weeks after stressing the domestic scene is his priority.