Top Executive
Top Executive
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What Top Executives Do
Top executives plan strategies and policies to ensure that an organization meets its goals. They coordinate and direct work activities of companies and organizations.
Duties
Top executives typically do the following:
- Establish and carry out departmental or organizational goals, policies, and procedures
- Direct and oversee an organization’s financial and budgetary activities
- Manage general activities related to making products and providing services
- Consult with other executives, staff, and board members about general operations
- Negotiate or approve contracts and agreements
- Appoint department heads and managers
- Analyze financial statements, sales reports, and other performance indicators
- Identify places to cut costs and to improve performance, policies, and programs
The responsibilities of top executives largely depend on an organization’s size. In small organizations, such as an independent retail store, an owner or manager often is responsible for hiring, training, quality control, and day-to-day supervisory duties. In large organizations, chief executives typically focus on formulating policies and planning strategies, while general and operations managers direct day-to-day operations.
The following are examples of types of top executives:
Chief executive officers (CEOs), who are also known by titles such as executive director, managing director, or president, provide overall direction for companies and organizations. CEOs manage company operations, formulate and implement policies, and ensure that goals are met. They collaborate with and direct the work of other top executives and typically report to a board of directors.
There may be other types of chief executives—such as chief operating officers (COOs), chief financial officers (CFOs), or chief human resources officers—who manage a specific part of the organization. The knowledge, skills, and job duties that these executives have differ, depending on which department they oversee.
General and operations managers oversee activities that are too diverse to be classified into one area of management or administration. Responsibilities may include formulating policies, directing daily operations, and planning the use of materials and human resources. These managers make staff schedules, assign work, and ensure that projects are completed. In some organizations, the tasks of chief executive officers may overlap with those of general and operations managers.
Mayors, city managers, county administrators, and governors are chief executive officers of governments. They usually oversee budgets, programs, and the use of resources. Mayors and governors must be elected to office, whereas managers and administrators are typically appointed.
School superintendents and college or university presidents are chief executive officers of school districts and postsecondary schools. They manage issues such as student achievement, budgets and resources, general operations, and relations with government agencies and other stakeholders.
Work Environment
Chief executives held about 280,000 jobs in 2022. The largest employers of chief executives were as follows:
| Self-employed workers | 21% |
| Professional, scientific, and technical services | 13 |
| Government | 9 |
| Healthcare and social assistance | 6 |
| Manufacturing | 5 |
General and operations managers held about 3.5 million jobs in 2022. The largest employers of general and operations managers were as follows:
| Retail trade | 13% |
| Professional, scientific, and technical services | 12 |
| Wholesale trade | 8 |
| Manufacturing | 8 |
| Construction | 7 |
Top executives work in nearly every industry. They work for both small and large organizations, ranging from businesses in which they are the sole employee to firms with hundreds or thousands of employees.
Because top executives often are held responsible for their organization’s success, their work may be stressful.
Top executives frequently travel to attend meetings and conferences or to visit local, regional, national, or international offices of interest.
Top executives often interact with other high-level executives, such as financial managers, human resource managers, or chief technology officers.
Work Schedules
Most top executives work full time, and many work more than 40 hours per week, including evenings and weekends.
Getting Started
How to Become a Top Executive
Top executives typically need at least a bachelor’s degree and considerable work experience to enter the occupation.
Education
Top executives typically need a bachelor's or master's degree in an area related to their field of work, such as business or engineering. Top executives in the public sector may have a degree in business administration, public administration, law, or the liberal arts. Top executives of large corporations may have a master’s degree in business administration (MBA).
College presidents and school superintendents are typically required to have a master’s degree, although a doctorate is often preferred.
Although many mayors, governors, and other public sector executives have at least a bachelor’s degree, these positions typically do not have any specific education requirements.
Work Experience in a Related Occupation
Many top executives advance within their own organizations, moving up from lower level management occupations or supervisory positions. However, some companies may prefer to hire qualified candidates from outside their organization. Top executives who are promoted from lower level positions may be able to substitute experience for education to move up in the organization.
Chief executives typically need extensive managerial experience, and this experience is expected to be in the organization’s area of specialty. Most general and operations managers hired from outside an organization need lower level supervisory or management experience in a related field.
Some general managers move into higher level managerial or executive positions. Executive training programs and development programs often benefit managers or executives.
Licenses, Certifications, and Registrations
Some top executive positions may require the applicant to have a license or certification relevant to their area of management. For example, some employers may require their chief executive officer to be a certified public accountant (CPA).
Job Outlook
Overall employment of top executives is projected to grow 3 percent from 2022 to 2032, about as fast as the average for all occupations.
About 311,600 openings for top executives are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Employment
Projected employment of top executives varies by occupation (see table).
Demand for general and operations managers will grow as organizations increasingly rely on these workers for help in functioning smoothly.
Employment of chief executives is projected to decline as office technology improves, increasing the ability of these workers to perform tasks previously done by multiple chief executives. In addition, changing organizational structures may lead to fewer new jobs for these workers as more companies adopt a workplace structure with fewer chief executive positions.
Contacts for More Information
For more information about top executives, including educational programs, visit
American Management Association
National Management Association
For more information about executive financial management careers, visit
Financial Executives International
Financial Management Association International
Similar Occupations
This table shows a list of occupations with job duties that are similar to those of top executives.
| Occupation | Job Duties | Entry-Level Education | Median Annual Pay, May 2022 | |
|---|---|---|---|---|
|
Administrative Services and Facilities Managers |
Administrative services and facilities managers plan, direct, and coordinate activities that help an organization run efficiently. |
Bachelor's degree | $101,870 |
|
Advertising, Promotions, and Marketing Managers |
Advertising, promotions, and marketing managers plan programs to generate interest in products or services. |
Bachelor's degree | $138,730 |
|
Architectural and Engineering Managers |
Architectural and engineering managers plan, direct, and coordinate activities in the fields of architecture and engineering. |
Bachelor's degree | $159,920 |
|
Computer and Information Systems Managers |
Computer and information systems managers plan, coordinate, and direct computer-related activities in an organization. |
Bachelor's degree | $164,070 |
|
Construction Managers |
Construction managers plan, coordinate, budget, and supervise construction projects from start to finish. |
Bachelor's degree | $101,480 |
|
Financial Managers |
Financial managers create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization. |
Bachelor's degree | $139,790 |
|
Human Resources Managers |
Human resources managers plan, coordinate, and direct the administrative functions of an organization. |
Bachelor's degree | $130,000 |
|
Industrial Production Managers |
Industrial production managers oversee the operations of manufacturing and related plants. |
Bachelor's degree | $107,560 |
|
Medical and Health Services Managers | Medical and health services managers plan, direct, and coordinate the business activities of healthcare providers. | Bachelor's degree | $104,830 |
|
Sales Managers |
Sales managers direct organizations' sales teams. |
Bachelor's degree | $130,600 |