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Learn About Being a CEO (Chief Executive Officer)

What does a CEO do? A chief executive officer (CEO) typically acts as the head of a company and reports to the board of directors. CEOs are responsible for creating and completing business strategies, introducing policies and making sure the organization reaches its goals. A CEO’s other responsibilities might include:

  • Managing the company’s operations

  • Overseeing the company’s budget

  • Working with other executives and managers

  • Approving contracts

  • Staying knowledgeable about industry changes and developments

  • Determining how to improve performance, grow the company and save money

These job duties vary depending on the size of the company. The owner of a small business might also be the CEO and help with all aspects of daily operations. The CEO of a large company is typically more involved with creating policies and tasking managers with maintaining staff and daily operations.

Typical salary The salary for CEOs often depends on their level of experience and level of education. It may also depend on their company’s industry, geographical location and earnings. For the most up-to-date salary information from Indeed, click on the salary link.

  • Common salary in the U.S.: $117,897 per year

  • Typical salaries range from $17,000 to $295,000 per year.

CEO requirements Most CEOs have many years of business experience and at least a bachelor’s degree. Job requirements, however, will vary depending on the industry and company.

Education, training, certifications CEOs typically have a bachelor’s or master’s degree in business administration or a field related to their industry. Some CEO positions require that candidates have a master’s or even, depending on the industry (education, for instance), a doctorate. Some CEOs get certified by industry or professional organizations, such as the Institute of Certified Professional Managers. Others must get licensed in their area of work. The CEO of an accounting firm, for instance, might need to also be a licensed certified public accountant (CPA). CEOs might get professional or occupational training to develop certain skills, such as ethics, or to better understand their industry.

Skills To manage companies successfully, CEOs must be highly skilled in a variety of areas. Important skills for CEOs include:

  • Leadership and management. Because CEOs are responsible for directing a company’s operations and staff, they must be confident in their ability to lead. They should be comfortable managing every aspect of an organization, from its employees to its finances.

  • Communication. Executives create a vision for their company and assign tasks to department managers and their staff. They should be able to explain their goals clearly and effectively. They should also be comfortable speaking publicly, as many CEOs give presentations and lead meetings.

  • Decision-making. CEOs make daily policy and management decisions for entire companies. They should be able to assess situations and make decisions that benefit the organization and its people.

  • Problem-solving. Chief executives often face company-wide dilemmas. They should have quick analytical and problem-solving skills to help them find the best solutions to these types of situations.

  • Time management. With many different responsibilities, CEOs should know how to multitask. They must have good organizational and time management skills to complete each day’s tasks so they can meet their goals.

Career outlook The number of CEOs and other top executive roles is expected to grow by 8% by 2026, according to the United States Bureau of Labor Statistics. As new companies form or expand, CEOs are needed to manage their business and maintain success. Chief executive officer positions are extremely competitive due to their high salaries and importance. Candidates with significant management experience and advanced degrees have the best chances of success.

CEO work environment Chief executive officers can find work in almost any industry and for companies of any size. They typically work in offices and might work long days, including evenings and weekends. Many CEOs travel between company branches and locations, to attend conferences and to meet with investors or clients. They often work closely with other company managers and executives.

How to become a CEO Most CEOs become top executives after moving up from lower-level to management positions. To become a CEO, you might follow this common path:

  1. Get a bachelor’s degree. Most CEO positions require at least a four-year degree, preferably in a business-related field.

  2. Consider a master’s degree. If you know that you want to focus on a certain field or manage a large company, a master’s degree can give you more knowledge in this area. Common master’s degrees for this career include business administration, economics or law. Some companies require their CEOs to have a master’s degree to get hired.

  3. Gain experience. You’ll need years of management experience to qualify for a CEO position. First, apply for low-level manager jobs or positions in companies that will allow you to advance to higher-level roles.

  4. Take training courses. Many companies offer management training or executive development programs. You can also take online or in-person courses on business topics that will benefit you as a CEO, such as social responsibility and ethics, critical thinking or public speaking.

  5. Earn promotions. As you expand your expertise and professional network, you should have the opportunity to move from lower- to upper-level management positions, ultimately earning qualifications to become a CEO. Some people advance through one company throughout their careers, while others apply to outside positions or get recruited.

CEO job description example Our board of directors is looking for a skilled chief executive officer to oversee all business aspects and help guide the company toward future success. The CEO will be responsible for strategic planning and analysis and implementing policies across all departments. The ideal CEO will be a confident and natural leader with excellent problem-solving skills and a strong understanding of business finance. Candidates must have proven experience in an upper management role and a master’s in business administration or a related field.

Source: read://https_www.indeed.com/?url=https%3A%2F%2Fwww.indeed.com%2Fcareer-advice%2Fcareers%2Fwhat-does-a-ceo-do%23%3A~%3Atext%3DMost%2520CEO%2520positions%2520require%2520at%2520least%2520a%2520four-year%2Ccan%2520give%2520you%2520more%2520knowledge%2520in%2520this%2520area.


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