Senior Executives are the leaders and top managers found in a number of different businesses and companies. They are tasked with running the company, creating budgets and financial plans, carrying out the goals of the management team and ensuring that the business runs smoothly and successfully. Specific tasks might include meeting with suppliers, organizing conference calls with heads of different departments, recruiting new executives or holding board meetings regarding public offerings. Senior executives are expected to be experts in their fields. Hours can be long, but they are often significantly financially compensated for their work.
Senior Executive Education Requirements
Attaining the title of Senior Executive in nearly any company requires the minimum of a bachelor's degree. While an undergraduate degree in a subject like business administration, economics or financial management might be sufficient, it is often better to pursue a master's degree like an MBA, or Master of Business Administration. Having such an advanced degree combined with leadership skills and experience in a particular field is the winning combination for career eligibility and an increased earning potential.
Senior Executive Job Market
Over the next decade, statistics forecast that the demand for Senior Executives in the United States will grow by approximately 5 percent. This is just above the rate for population growth, but it still translates to the creation of roughly 8,780 new job openings each year for Senior Executives. The skills earned for this position can also be easily transferred to other executive and management positions including Director, Managing Director and Senior Consultant.
Senior Executive Salary
One of the biggest perks of working as a Senior Executive is the impressive pay. In the United States, the median salary for a Senior Executive is $168,140 annually. In addition to take-home pay, many senior executives enjoy added bonuses like stock options, paid insurance premiums, memberships to gyms and social clubs or even the use of company-owned planes and vehicles.