CEOs are the highest level of management in companies. These top executives are responsible for developing strategies and implementing policies to make sure that a company meets its set goals. CEOs perform a wide variety of tasks, including overseeing a company's financial activities, managing everyday activities, negotiating contracts, analyzing performance indicators and appointing department managers. They also analyze financial statements and identify ways to both reduce operational costs and improve the company's overall performance. In addition to being a CEO of a company, governors and county administrators act as CEOs of government, and college presidents and school superintendents are CEOs of schools.
Executive CEO Education Requirements
Becoming a CEO is a combination of education and considerable work experience. Although the minimum is a bachelor's degree, most CEOs have a master's degree in business administration (MBA), liberal arts or law. School superintendents and university presidents are often required to have a doctoral degree. Many CEOs attain their positions by advancing from lower to upper management positions within their own company. Those who advance in this manner are sometimes able to substitute experience for education. It's a common career path in the transportation and retail industries. Some CEOs complete certification programs to demonstrate leadership skills and management competency. Certification gives those seeking positions as CEOs a competitive edge.
Executive CEO Job Market
The demand for CEOs is expected to grow 11 percent through 2022 according to employment studies. This projected growth will vary depending on specific industry growth. Typically, the growth is fueled by the expansion and formation of companies and organizations. This will require more CEO executives. In addition, knowledgeable CEOs are vital for the success of a company. Other related job positions include Executive Assistant to the CEO and Executive Management positions.
Executive CEO Salary
Executive CEO salaries are extremely diverse, depending on the company. The median annual income for these positions is around $101,650. Top earners can earn more than $168,000, while lower earners make around $75,000.