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: