Managing Director Job Description: Top Duties and Qualifications

A Managing Director, or Management Director, is responsible for upholding successful company operations by implementing business strategies and fostering business relationships. Their duties include maintaining frequent communications with company Executives and Board Members, reviewing operational data and financial statements to track the progress of business initiatives and hiring Department Directors to guide company employees in areas like accounting, sales, marketing or HR.

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Managing Director Duties and Responsibilities

Under this section, list the functions and responsibilities associated with the position of Managing Director. Mention who the position reports to and where this role stands in the organizational hierarchy. In addition to regular duties, include any special functions you would expect a successful candidate to perform.

Examples of Managing Director duties and responsibilities include:

  • Establish company goals and objectives, both short-term and long-term.
  • Develop business plans and strategies.
  • Advise the board of directors on strategic issues.
  • Present reports on the company’s business and performance to the board.
  • Motivate and provide leadership to Managers and senior executives.
  • Build relationships with external experts and agencies through seminars, conferences and professional networking.
  • Ensure that the company continues to make profits and grow investors’ wealth.
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Managing Director Job Description Examples

What Does a Managing Director Do?

Managing Directors typically work for corporations across industries to ensure their business achieves its short- and long-term objectives. They work closely with company Executives to determine business needs and maximize engagement from stakeholders. Their job is to delegate tasks among lower-level Director roles, review market data or consult with industry experts and draft business plan documents. They may also be responsible for performing public speaking duties at media or promotional events on behalf of the company.

Managing Director Skills and Qualifications

The position of a Managing Director requires advanced skills and a higher level of qualifications. List all of the important qualities and qualifications you are looking for in a successful candidate. You may include the required education, experience, training and technical skills under this section. This is also the right place to let the candidates know if they need to possess any specific soft skills and personality traits.

Examples of Managing Director skills and qualifications include:

  • Bachelor’s degree in business management or related area
  • Master’s degree preferred in many organizations
  • Over 10 years of experience as Managing Director or in another senior managerial role
  • Experience in establishing business goals and strategies
  • Good understanding of corporate law, branding and product positioning
  • Strong analytical and problem-solving skills
  • Excellent communication and leadership qualities
  • Ability to work under pressure

Managing Director Salary Expectations

A Managing Director receives an average salary of $104,703 per year. Indeed has computed this estimation based on hundreds of salaries reported by Managing Director employees and figures collected from job advertisements published on Indeed over the last three years. A Managing Director typically works for an average tenure of four years. Salaries may vary depending on a candidate’s level of education, experience and certification. Your organization’s industry and geographical location may also impact potential earnings.

Managing Director Education and Training Requirements

A Managing Director should at least have a bachelor’s degree in business administration or a related area. Companies usually prefer to hire candidates with a master’s degree in business administration for more advanced skills and knowledge. Since this is a senior-level position, you may also prefer the candidate to have a professional organization membership, such as a reputable association for management professionals or a society for accounting professionals. Certification and training in areas like corporate governance, strategic planning, statistical analysis and public speaking would be definitely helpful.

Managing Director Experience Requirements

The position of Managing Director typically requires extensive experience in business administration. The successful candidate should have a minimum experience of 10 years. You may prefer more experience depending upon the scale and size of your operations, or you may accept candidates with advanced degrees in lieu of some years of professional experience.

Businesses usually look for candidates who have previously worked as a Managing Director in an organization similar to theirs. Candidates who have not worked exactly as a Managing Director but have a good experience in a senior managerial role and possess strong industry knowledge also make a good choice for this position.

Job Description Samples for Similar Positions

If Managing Director is not the exact position you are planning to hire for, here are some other job description samples for closely related jobs:

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Frequently asked questions about Managing Directors

 

What is the difference between a Managing Director and a CEO?

The difference between a Managing Director and a CEO is that seniority and areas of job focus. For example, CEOs have the responsibility to create a long-term vision for the company and its operations. They typically work closely with company Founders and Board Members to determine financial needs and ways to promote the longevity of the company. In contrast, Managing Directors usually work under the guidance of the CEO. 

They have more direct contact with lower-level company employees and oversee more of the day-to-day operational needs of the company to ensure they meet the long-term vision set by the CEO. In some situations, companies may use the titles “CEO” and “Managing Director” interchangeably.

 

What are the daily duties of a Managing Director?

On a typical day, a Managing Director starts by checking their email and voicemail to respond to time-sensitive messages from Stakeholders, company Executives or lower-level company employees. Throughout the day, Managing Directors participate in meetings with upper management or Department Directors to discuss upcoming business initiatives or organizational changes. During downtime in their office, Managing Directors review operational procedures, write business proposals and complete market research to aid their business proposals.

 

What qualities make a good Managing Director?

A good Managing Director is someone with natural leadership capabilities. This quality allows them to oversee multiple Department Directors and lower-level company employees. They have excellent interpersonal communication as they interact with the CEO, Board Members, Stakeholders and lower-level company employees on a daily basis. They also have superb written communication abilities that help them write comprehensive business plans that persuade Stakeholders to fund projects. Further, a good Managing Director commits to the CEO’s vision for the company and works to uphold their vision by implementing organizational policies and establishing areas for growth.

 

Who does a Managing Director report to?

The Managing Director typically reports to both the Board of Directors and the CEO of a corporation. These individuals provide the Managing Director with business objectives and help them develop operational strategies that match their vision for the company. Managing Directors typically refer to the board or the CEO to get approval for business plans or additional funding for projects.

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