Director of Strategy Salary
Directors of Strategy in the United States can expect to earn a very generous salary, with average salaries (in the ballpark of $126K) surpassing six figures annually. Total incomes of Directors of Strategy incorporate potential for, in a few cases, more than $41K from bonuses and close to $26K from profit sharing; these performance components cause packages to range between $79K and $196K. Geography and tenure each impact pay for this group, with the former having the largest influence. Work is enjoyable for Directors of Strategy, who typically claim high levels of job satisfaction. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. Most people who answered the questionnaire are men; 63 percent of Directors of Strategy are male. This report is based on responses to the PayScale salary survey.
Job Description for Director of Strategy
A director of strategy plans their company's overarching goals and vision. They work with other managers in the organization to achieve these goals using research, planning, and evaluation. A typical work day for a director of strategy involves a good deal of research. The director identifies trends in the market, forecasts patterns, researches the actions of competitors, and eventually formulates cohesive strategies based on this research. The final result of this research and observation is a cohesive strategy and plans that the director of strategy presents to the leaders of the company for approval. The director of strategy may also be responsible for planning training for lower-level employees in their organization as well. A director of strategy generally works full time for a single business, although they may also operate as a consultant for multiple companies on a contract basis. The director of strategy frequently works independently, although the director of strategy eventually meets with various business managers and leaders to present information and strategy.Read More...
A bachelor's degree in a relevant field is typically required for this position; a master's of business administration or equivalent higher education may also be preferred. Substantial prior experience in the organization's field is required as well. These individuals must have excellent communication, report-writing, and presentation skills; they must also work well with minimal supervision, and they need to be able to consistently meet deadlines as well.
Director of Strategy Tasks
- Advise department heads and senior management on strategic initiatives.
- Monitor progress of the firm and competition to ensure that strategic goals and benchmarks are met.
- Identify and clarify business development needs and objectives.
Director of Strategy Job Listings
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Popular Skills for Director of Strategy
Directors of Strategy report using a deep pool of skills on the job. Most notably, facility with Business Analysis, Business Strategy, and Strategy are correlated to pay that is significantly above average, leading to increases of 28 percent, 7 percent, and 5 percent, respectively. Those listing Web Marketing as a skill should be prepared for drastically lower pay. Social Media Marketing and Marketing Communications also typically command lower compensation. Most people who know Business Strategy also know Project Management and Strategic Marketing.
Pay by Experience Level for Director of Strategy
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Directors of Strategy, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Six-figure salaries are not unusual for those just entering the occupation — survey respondents with less than five years' experience under their belts report receiving an average of $118K per year. Directors of Strategy bring in $148K after working for 10 to 20 years. Directors of Strategy who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $151K.
Pay Difference by Location
For those looking to make money, Directors of Strategy in Charlotte enjoy an exceptional pay rate, 17 percent above the national average. Directors of Strategy will also find cushy salaries in Chicago (+17 percent), Los Angeles (+15 percent), Boston (+13 percent), and Denver (+10 percent). Directors of Strategy' salaries are heavily influenced by location — Directors of Strategy in Philadelphia bring in salaries that are 24 percent lower than the national average. Employers pay around 20 percent less in Washington and 3 percent less in Dallas, below-median salaries for those in this field.