Chief Operations Officer (COO) Salary
Job Description for Chief Operations Officer (COO)
Chief operations officers (COO) are in charge of planning and overseeing all the company operations and projects. They are responsible for creating operation strategies to increase profitability of their organization, and they actively participate in corporate efforts to increase brand loyalty. They work closely with the chief financial officer to create transparency in expenses and financial reports. COOs also implement new marketing initiatives and measure their effectiveness, as well as create company-wide policies to boost productivity. They also help develop or guide internal training programs for new products or services.Read More...
COOs report directly to the chief executive officer and/or a board of directors. They typically work in an office setting during regular business hours, but overtime is often required due to their wide range of responsibilities.
A bachelor's degree in business administration, management, finance, or related field is needed for this position. Additional years of work experience in a management position, and leadership certifications are a plus.
COOs must have strong interpersonal and communication skills. They also must be organized, analytical, and have experience leading a large group of workers to meet company objectives. COOs should also have a good knowledge of office software they use to create presentations and communicate with employees and vendors (e.g., the Microsoft Office suite and email applications).
Chief Operations Officer (COO) Tasks
- Direct the day to day operations of the organization.
- Improve operating procedures to increase profits and/or make the organization more efficient.
- Implement the strategies set by the Board of Directors and the CEO.
Chief Operating Officer (COO) Job Listings
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Popular Skills for Chief Operations Officer (COO)
Chief Operations Officers report using a deep pool of skills on the job. Most notably, skills in Strategic Planning, Leadership, Team Leadership, and Operations Management are correlated to pay that is above average, with boosts between 4 percent and 11 percent. Skills that pay less than market rate include IT Management, Human Resources, and Project Management. Most people familiar with Leadership also know Strategic Planning.
Pay by Experience Level for Chief Operations Officer (COO)
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Chief Operations Officers, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Relatively untried employees who have less than five years' experience have a median salary of $78K. Those who have been around for five to 10 years can expect to take home more — $98K on average. Experienced professionals — those with 10 to 20 years in the field — see salaries in the six-figure territory, securing around $121K on average. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $155K.
Pay Difference by Location
Chief Operations Officers will find that Philadelphia offers an impressive pay rate, one which exceeds the national average by 48 percent. Chief Operations Officers can also look forward to large paychecks in cities like Chicago (+36 percent), San Francisco (+25 percent), Denver (+21 percent), and San Diego (+18 percent). Falling short of the national average by 12 percent, the area with the worst salaries is Nashville. Workers in Los Angeles and Houston earn salaries that trail the national average for those in this profession (9 percent less and 8 percent less, respectively).
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Key Stats for Chief Operations Officer (COO)
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