Chief Executives direct companies or private and public sector organizations, planning and coordinating operational activities with sub managers and sub executives. CEOs establish and carry out policies and company direction within standards set by a board of directors. CEOs can work with businesses buying and selling services, investment products and financial services.
CEOs are the highest-ranking officials within a company, responsible for daily operations, performance, strategy and direction. Shareholders elect a board of directors whom the CEO is responsible toward; in smaller companies the CEO may be the sole chairman and/or board of directors himself. CEOs are generally the highest paid in their companies. They oversee staff and HR activities, supervise the budget, and evaluate the performance of the company. CEOs communicate with councils, board members, government and staff and serve as a liaison between their firm and other organizations. They coordinate advertising, purchasing, credit and accounting departments, and negotiate and approve contracts.
A bachelor’s degree and plenty of experience is essential and an MBA is advantageous for rising to a Chief Executive position. Areas of study in undergraduate and graduate programs could include Business Administration and Management, International Business, Public Administration, and Public Policy Analysis. In large Fortune 500 companies, employees with years of experience rising the ranks within their company for years are as likely to become CEOs as experienced outsiders.
$140,880 average annual salary (www.bls.gov/oco). Here’s some additional CEO salary information: