What does a CEO do?
CEOs typically work for small, medium-sized or large corporations across a range of industries to provide leadership and insights into company operations. They work closely with other company executives to determine ways to promote the longevity of their company. Their job is to review financial reports, participate in board meetings and review suggestions from managers and employees to maximize employee productivity. They may also act as a spokesperson for their company to give quotes to media personnel in response to upcoming company events and product launches or legal matters.
CEO skills and qualifications
Most CEOs have experience working in upper management in the same or similar industry. Other skills and qualifications include:
- Good communication skills
- Problem-solving skills
- Leadership skills
- Time management skills
- Decision-making skills
- Prioritization and delegation skills
CEO salary expectations
A CEO makes an average of $111,521 per year. This salary may vary depending on education, level of experience and geographic location.
CEO education and training requirements
A bachelor’s or master’s degree is a requirement for most CEO positions. In the private sector for-profit businesses, the preferred bachelor’s or master’s degree is usually in business administration or a related area such as management or marketing. In some industries, a degree in industry-specific areas such as chemistry, engineering or medicine is preferred. Government and nonprofit organizations consider degrees in public administration, law, business or liberal arts. In the education field, such as School Superintendent and College President positions, a master’s degree is required, with a Ph.D. preferred or required depending upon the organization.
CEO experience requirements
CEO positions require previous supervisory and management experience. Whether the experience is gained as a result of coming up through the ranks of the hiring employer or other employers, the applicant should have a history of successfully handling the increased responsibilities associated with each promotion they earned. While on-the-job management experience is the primary factor in considering applicants, successful completion of various executive-level leadership and management professional development programs can be an additional factor to consider.
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