It used to be that we thought of an executive position as a long-term one. Often, you got hired by a company, worked your way up through the ranks, assumed a managerial or executive position, and maybe even stayed there until retirement. No more, though.
Today, companies are increasingly in flux and in a constant state of change. This has to happen, because the global economy and the Internet have made doing business an ever changing environment. No longer the relatively staid pursuits of the past, today, businesses have to be ready to "belly up to the bar" and take on tasks they may not have in-house management to handle.
An interim executive is somewhat like a temporary employee; only the position filled is an executive, managerial one. Oftentimes, companies need to hire executive help on very short notice; in addition, oftentimes, this help is only temporarily needed. Therefore, it does no good for a company to do the typical type of job search and hire it would for a typical executive position.
Because of this, the interim executive can be a perfect solution. The hire itself is short-term, but those who are interim executives actually do this for a living and go from job to job to job providing whatever skills are asked for.
What does it Take to Become an Interim Manager?
To become an interim manager, of course you'll have to have had some definite managerial experience in another capacity. Oftentimes, interim managers have burned out on traditional management jobs, been laid off, or otherwise are looking for a change. Interim management jobs can be the perfect solution for someone who craves a managerial experience, but doesn't want the permanence or the inflexibility of a long-term position.
This can also be a perfect job for you if you like working in a variety of different environments. Instead of the security of a day-to-day job, you get to work with a variety of people, in a variety of situations, handling a number of different problems. This is very different than a one-company managerial job, where you are put in a position to manage a fixed department or duties, etc., and the job itself doesn't change markedly. A good example of an interim manager is a project manager, for example.
How Long do Interim Managerial Jobs Last?
Of course, it depends on the job; interim managers are generally hired to take care of a definite problem to be solved, or to manage a particular job in a company that no one currently on staff there has the skills to solve. What that means is that as an interim manager, you come in, address the problem, and leave. Standard assignments can often last from four to eight months, though.
Are there Detriments to Being an Interim Manager?
There can be; because you do not have a fixed job to go to every day, you can have gaps in employment if no suitable assignments are found immediately after the previous assignment ends. In addition, because most assignments do not have a fixed end date, you can't simply schedule another assignment to start on a certain date ahead of time; this means that you pretty much have to "go with the flow" and focus on one assignment while not worrying about your next one.
Nevertheless, interim managers are becoming a cost-effective managerial solution for companies. This means that interim managers are becoming more popular, and therefore interim managerial jobs are becoming more numerous, too.
You're also going to have to be very quick on your feet; even though you have to have the basic skills necessary to handle an assignment before you go in, you're probably going to get there and find that you don't quite know how to do something in the way the company wants it done. So you're going to have to be a very quick study and learn the way a company does certain things so that you can fit right in. And if there are new skills to be learned, you're going to have to learn those very quickly, too. It's not likely that you are going to know absolutely everything you need to know when you walk into a certain situation, but if you have the capability of quickly learning what you need to so as to get a certain job done, you should do fine.
Finally, you're also going to have to be willing to travel a lot and stay away from home for months at a time. This is because you're going to need to stay where the company is while you're doing that job, and then leave and go on to the next location. Therefore, interim management may not be for you if you have commitments close to home that you need to be there for.
What Can Interim Managers Expect to Make?
Interim managerial jobs generally make roughly the equivalent of any manager at a similar level within a particular company. The difference, of course, is that because you get paid by the job, you may have gaps when you don't have employment. Nonetheless, assuming you can work full-time as an interim manager, you'll make about the same as a manager at the same level who's employed full-time with a company.
In Conclusion
If you have solid managerial skills and are looking for an exciting, changeable, challenging career, consider being an interim manager. It's not for everyone, but if you like travel, don't mind being away from home for extended periods of time, and like working with new people and new situations on a continual basis, why not take a look at interim management?
