Executive director careers at most of the top-level companies are reserved for the best of the lot. The job pays well since it is an important position and you can be rest assured that companies will take care of all your financial needs. Average salaries for Executive Directors are on the high rise with the increasing company revenues. The best is the salary that is offered to Executive Directors is calculated on the basis of company stocks. Thus, when the company's stocks do well, there is a good potential for the Executive Directors to earn really well. When companies shortlist candidates for this position, they search for indicators to prove that one candidate is better than the others who have applied. This is done by placing importance to the University where the candidate completed their degree, or their grades, whether you have a Master's degree and which University you attended, other skills, significant achievements and the total, relevant years of experience, etc.
Job Profile/Description/Responsibilities
You have the responsibility of guiding a company's operations and administration. Their other responsibility is to take care of the company's goals. The reason why executive director jobs are suitable only for selected individuals who have the right experience and drive is that he has to make sure that the efficiency and profit of the company is always achieved in a way that it lays close to what he had planned before. He studies reports that the accounts division generates to gain sound knowledge of the financial health of the company. Hence he tracks the expenses that the company incurs. Whenever you find that some element is not up to standards, you find a way of resolving it so that the system functions smoothly.
Requirements
Academic
For being a company's executive director, the applicant can have either a Master's degree or a Bachelor's degree. A background in Business Studies, Finance, Economies or Accounts may be favored. An MBA degree adds better value to a candidate's profile.
Skill Sets
He/She must have good skills in managing projects since it is mandatory to meet project deadlines. Companies place emphasis on the past performance and so a good past record goes a long way in adding value to the candidature. He should also have a sound knowledge of the several aspects that are specific to the industry to which he is associated.
Training
Appropriate training in project management, customer service, finance and marketing are sought after by employers and recruiting companies. You should have commendable leadership skills since you have to motivate and guide people in each and everyday of your career. You should also attend important seminars so that he comes to know of latest issues and important facts at the earliest. You should also read the current news and studies conducted by various trade bodies/magazines.
Prior Experience
Different companies ask for different years of experience as sometimes quality is better than quantity. However, it is mandatory to have worked in various managerial roles for a minimum period of ten years. This time duration is required for making a person fully knowledgeable in all aspects related to running a company.
Employment Outlook
Career Prospects (globally)
With the prominence of the Internet one of the easiest ways to find executive jobs is to use websites. Some websites offer paid memberships that have several advantages. Popular magazines and newspapers related to business carry advertisements for executive jobs. If you target the best companies in your chosen field, you should know that while salary is not a constraint, it is an extremely competitive scenario since you will be competing with the some of best professionals in the industry. The companies that are easier to get into do not pay hefty salaries.
Salaries
Generally, MNCs (multinational corporations) have better pay scales. Among the companies of your field, Fortune 50 companies are willing to pay best salaries in return for excellent work. Some employers prefer those candidates who possess foreign degrees as they feel that they have a wider exposure. The companies pay these candidates better.
- Executives with 10 years of experience: $60,000 to $100,000 per year
- Executives with 10 to 20 years of experience: $80,000 to $130,000 per year
- Executives with more than 20 years of experience: $80,000 to $160,000 per year
