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How to Commence on an Executive Career

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If you have a desire to pursue a career as an executive, you may be wondering how to get started and what you'll need to ensure that you can climb your way up the corporate ladder effectively. Below is some information that can help you decide what steps you should be taking now and in the future.

Understanding the Work

In order to really decide if you truly want to pursue an executive career, you should look at the type of work that is required in these positions. Generally, executives in businesses have a lot of responsibility. They must help guide company operations in a successful way, plus they may be considered accountable for other facets of the company, including financial reporting and corporate governance. When things go wrong, they are also the ones who take the brunt of the complaints from the board of directors and the stockholders.



Depending on the size of the organization, executives may have direct supervisory responsibilities too. In large businesses, executives may hold specialized roles in different departments, such as marketing or finance. In smaller organizations, executives may need to be more diverse in terms of their skill set.

At the top of the executive ladders are the individuals given titles such as chief financial officer (CFO), chief information officer (CIO), and chief executive officer (CEO). These individuals are top executives responsible for the company's finances, technology, and operations, respectively.

Although being an executive can require taking on a great deal of responsibility and having plenty of stress to contend with, there are some perks, including the work environment. Executives tend to have very spacious and well-decorated offices. That's not just to show off their position but to create a positive impression when meeting with other executives and important individuals about company business.

Executives also tend to travel a great deal. Sometimes this travel can interfere with their personal lives as well. They may also be called on to work long hours and weekends, but their overall work schedules are more flexible than the average 9 to 5 employee.

Getting on the Executive Track

Education is an essential quality in top executives. Most executives have at least a bachelor's degree with others obtaining advanced degrees as well. The field of study is not always as important as the simple fact of having a degree. Executives have earned degrees in majors as diverse as business administration to liberal arts. However, some industries may require you to have specific training in that area. For example, if you want to be an executive in the field of education, you will need a bachelor's degree in education and possibly further training in education administration.

Although a college education is essential, most companies are also impressed by people who have taken the opportunities to pursue post-university training as well. Attending conferences, workshops, and other types of educational seminars help for an executive position. Obviously, choosing opportunities which are directly related to your industry or your company's business will give you an even greater advantage.

To improve your chances of landing an executive position, you will also need to have certain personality traits. Having good communication skills is essential. You also tend to have demonstrated leadership ability, as well as experience dealing with problems in a decisive manner. Executives should portray themselves as self-confident and highly motivated if they are selected for these high-ranking positions.

With only some exceptions, most executives are hired from within the company through promotions. You'll want to begin in some type of managerial position and work your way up. In some cases, companies will hire from outside the company but will usually hire people who are already working in executive positions elsewhere and who have a proven track record of success.

Outlook & Pay for Executives

The good news for prospective executives is the number of executive positions is expected to increase by about 2% between 2006 and 2016. About 75% of all these executives are going to be found in the government and the service industry. In 2001, there were more than 2 million executives in the United States.

On the down side, competition for these positions is always intense. Most of the people in low level management jobs always strive to end up in executive positions fighting for the relatively small number of upper level positions. This means you will need to take every opportunity to move ahead and to be recognized by the top executives in your company so you can be promoted.

Since there is a presumption that all executives are making huge salaries, the annual salary depends on your specific level of responsibility and the size of your company. Lower level executives may make an average of between $50,000 and $90,000. Chief executives, however, earn considerably more. The average salary for people in these positions is above $145,600.

In addition to the salary, however, most executives receive substantial perks. These perks include a full-range of standard benefits, including health care, vacations, stock options, retirement packages, etc. Additionally, executives are often given substantial bonuses, stocks, use of corporate planes and cars, and other extras which increase their net value considerably.

Conclusion

If you are interested in obtaining an executive position, you must begin by getting a solid education and continuing your training. Decide on a field, company, or industry in which you would be interested in working in the future. Then work hard to secure a managerial position in that area so that you will be in line for one of the coveted promotions. You must also take every opportunity to impress those who are of a higher rank in the company than you so that you will be noticed and get that job you have always dreamed of.
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Popular tags:

 board of directors  disciplines  operations  personality traits  workshops  conferences  offices  businesses  college education  degrees


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