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
- Implement the strategies set by the Board of Directors and the CEO.
- Improve operating procedures to increase profits and/or make the organization more efficient.
- Direct the day to day operations of the organization.
Chief Operating Officer (COO) Job Listings
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Popular Skills for Chief Operations Officer (COO)
Survey participants wield an impressively varied skill set on the job. Most notably, skills in Strategic Planning, Operations Management, Team Leadership, and Leadership are correlated to pay that is above average, with boosts between 3 percent and 12 percent. Skills that pay less than market rate include IT Management, Project Management, and Human Resources. Those educated in Leadership tend to be well versed in Strategic Planning.
Pay by Experience Level for Chief Operations Officer (COO)
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Chief Operations Officers who reported more years of relevant experience also reported higher earnings. Folks who are navigating the first five years of their careers have a median salary of approximately $82K in this position. Those who have been around for five to 10 years don't get much more, though; the median salary in that group is $98K. Between 10 and 20 years, pay surpasses six figures; at this stage, the average professional scores around $120K. Chief Operations Officers who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $154K.
Pay Difference by Location
For Chief Operations Officers, working in the bustling city of Seattle has its advantages, including an above-average pay rate. Chief Operations Officers will also find cushy salaries in Phoenix (+50 percent), Philadelphia (+47 percent), Washington (+29 percent), and Denver (+21 percent). Chief Operations Officers in Kansas City earn salaries far below the national average by 22 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Two other places where employers offer below-median salaries are Atlanta (14 percent less) and Nashville (12 percent less).