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Business Executive & Manager
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“Breaking the Glass Ceiling”
Formulate policies and direct the operations of businesses and organizations, government entities, institutions, and other organizations.
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The Job
Top executives devise strategies and formulate policies to ensure that the objectives of a business or organization are met. They direct the activities of various departments and implement the organization's policies on a day-to-day basis. The nature of the responsibilities of high-level executives depends on the size of the organization. In small organizations, such as independent retail stores or small manufacturers, a partner, owner, or general manager often is responsible for purchasing, hiring, training, quality control, and day-to-day supervisory duties. In large organizations, the duties of executives are highly specialized. Some managers, for instance, are responsible for the overall performance of one aspect of the organization, such as manufacturing, marketing, sales, purchasing, finance, personnel, training, administrative services, computer and information systems, property management, transportation, or legal services. Long hours, including evenings and weekends, are standard for most top executives and general managers, although their schedules may be flexible. Substantial travel between international, national, regional, and local offices to monitor operations and meet with customers, staff, and other executives often is required of managers and executives.
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Work Environment
Top executives typically have spacious offices and numerous support staff. Substantial travel between international, national, regional, and local offices to monitor operations.
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College Majors
business administration or specific discipline in field of work
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Minimum Qualifications
Many top executives have a bachelor's or graduate degree in business administration, liberal arts, or a more specialized discipline. The specific degree required often depends on the type of organization for which they work.
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Personality traits helpful for this career
must have highly developed personal skills, self-confidence, motivation, decisiveness, flexibility, sound business judgment, and determination
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Quick Facts
- Tough competition is expected because the prestige and high pay of these jobs attract a large number of applicants.
- Top executives are among the highest paid workers; however, long hours, considerable travel, and intense pressure to succeed are common.
- salary levels vary substantially depending on the level of managerial responsibility; length of service; and type, size, and location of the firm.
- Median annual wages of wage and salary chief executives in May 2008 were $158,560. Some top executives of large companies earn hundreds of thousands of dollars to more than $1 million annually.
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Compensation and Outlook
Median annual wages of general and operations managers in May 2008 were $91,570. The middle 50 percent earned between $62,900 and $137,020. Median annual wages of wage and salary chief executives in May 2008 were $158,560. Some top executives of large companies earn hundreds of thousands of dollars to more than $1 million annually.
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