There are many different types of top executives, including General and Operations Managers, Chief Executive Officers (CEO's), Chief Operating Officers (COOs), Chief Financial Officers (CFO's), Mayors and Governors, or college and university presidents. Their roles may hence differ according to what department they oversee but they are in most cases the most important figures within organizations.
In general, they are responsible for formulating organization policies and plans. They direct and coordinate activities, ensuring that the company goals are met.
Top executives generally carry out the following duties:
Develop the policies, procedures and plans of an organization, ensuring that the goals are met
Oversee the company budgetary and financial activities
Discuss the company operations with other executives, staff or board members
Manage the production and provision of services in such a way that opportunities to reduce costs, increase performance and introduce policies are identified
Analyze company financial statements and performance indices
Engage in negotiations and approvals of contracts and agreements
Place persons in managerial positions
Most often, top executives are required to have at least a bachelor’s degree and at least 5 years or more of experience in the particular industry, where backgrounds in managerial positions are essential. Many top executives may also have a master’s degree in Business Administration. A master’s degree or doctorate is often the preferred qualification in some instances such as posts like college president or school superintendent. Some top executives may also be expected to have certification or licensing in their particular area of work.
In order to test top executives effectively, employers usually administer the maths business test, the cognitive IQ test, the work ethics test which are all test designed to assess the proficiency of individual's arithmetic, business knowledge , problem soloing capabilities and their ethical code of conduct.
2018 Median Pay
|$104,980 per year, $50.47 per hour|
Entry level qualification
Number of jobs in 2016
Expected Growth rate (2016 – 26)