Chief Executive Officer (CEO) Salary
Six-figure salaries are the norm for Chief Executive Officers in the United States, with median pay hovering around $170K per year. In the world of Chief Executive Officers, total cash compensation ranges from $76K on the lower end to $437K on the higher end; this includes bonuses that reach $149K and profit sharing that approaches $138K in rare cases, with some high rollers snagging commissions as high as $101K. Career length and the particular city each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to a large number, and more than half earn dental coverage. Most people is this field find their work highly enjoyable. Male Chief Executive Officers far outnumber their female contemporaries among those who completed the questionnaire.
Job Description for Chief Executive Officer (CEO)
A chief executive officer (CEO) is someone who is in charge of an organization and normally makes the vast majority of all business related executive decisions. In order to succeed at the position, a CEO must have great social skills, possess the ability to be an effective leader and not shy away from making big decisions. The specific job duties that are required from a CEO will vary depending on what type of organization they happen to be the leader of, as there could be a wide range of job responsibilities that may differ from one another. A CEO shoulders the large burden of having the majority of accountability when it comes to the success or failure of an organization, as one major decision can often take a large toll on a company whether it is good or bad. A few of the many job responsibilities that a CEO may have include several commanding responsibilities such as leading, guiding, overseeing the job performance of other highly ranking company employees such as the president and vice presidents. Furthermore, the CEO will also be responsible for putting together and formulating a strategic set of plans on how to address the direction of their company, as this is one of the more important parts of carrying the job title. It is their job to make sure that all employees carefully follow these plans when it comes to all business decisions and matters that go on within the company itself. A CEO makes a great living and can afford a very nice lifestyle away from the company, but the position comes with some large responsibilities and long hours that can be very stressful.
Chief Executive Officer (CEO) Tasks
- Drive strategic planning, business development, and fiscal operations.
- Establish positive relationships with stakeholders and other business leaders.
- Determine overarching goals and initiatives.
Common Career Paths for Chief Executive Officer (CEO)
Chief Executive Officers' salaries tend to stay somewhat constant even when they advance into higher-level positions like Chief Marketing Officer. On average, Chief Marketing Officers get paid about the same as Chief Executive Officers do. Many Chief Executive Officers advance into roles as Non-Profit CEOs or Executive Directors, but the median salaries are $90K lower and $116K lower, respectively.
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Popular Skills for Chief Executive Officer (CEO)
Chief Executive Officers seem to exploit a large range of skills on the job. Most notably, facility with Strategy, Team Leadership, and Leadership are correlated to pay that is significantly above average, leading to increases of 31 percent, 15 percent, and 12 percent, respectively. Those listing Project Management as a skill should be prepared for drastically lower pay. Budget Management and Operations Management also typically command lower compensation. Most people who know Operations Management also know Leadership and Strategic Planning.
Pay by Experience Level for Chief Executive Officer (CEO)
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Respondents with less than five years' experience take home $121K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $156K. Chief Executive Officers with one to two decades of relevant experience report an average salary of approximately $197K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $230K.
Pay Difference by Location
For Chief Executive Officers, heading east means bigger paychecks — those in Washington, New York, and Boston earn more on average than Chief Executive Officers in the rest of the country.
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