Updated June 05, 2023
A chief executive officer (CEO) is the highest-ranking officer in a corporation. Like other officers, a chief executive will take direction from the corporation’s board of directors, which is responsible for significant business decisions (including hiring the CEO), and will implement policies voted on by the board. In many corporations, this arrangement will leave the CEO with ample independence for day-to-day decisions about how the company is to function, grow and respond to changes.
Salary (Median Pay)
For chief executives:
- Salary: $185,950/yr
- Hourly Rate: $89.40/hr
Source: Bureau of Labor Statistics
Duties and Responsibilities
- Oversee firm management;
- Serve as face of the company before government bodies;
- Gather input from various company divisions;
- Prepare reports for consideration by board;
- Develop strategic vision for growth;
- Assure financial/budgetary stability;
- Maintain firm’s public reputation/good name; and
- Analyze/evaluate firm success benchmarks.
Qualifications
- Masters in Business Administration;
- Extensive experience as a high-level officer of a company;
- Strong leadership instincts;
- Knowledge of taxation, finance, budgetary processes;
- Ability to identify issues and spot talent; and
- Comfort with high-stakes decision-making.