Chief Executive Officer

Job Skills

Chief executive officers must have well-developed, above-average interpersonal skills. They must be excellent communicators. They also need to be capable of analyzing large amounts of data and the interrelationships between multiple factors. In addition, they must also have leadership skills, self-confidence, motivation, decisiveness, flexibility, sound business judgment, and determination.

Income

In 2002, chief executive officers earned a median annual salary of $126,260. The following shows the median annual salaries for the industries employing the highest numbers of chief executive officers:

• Management of companies and enterprises - $145,600
• Architectural, engineering, and related services - 133,880
• Depository credit intermediation - 123,220
• Colleges, universities, and professional schools - 103,120
• Local government - 73,990

Training and Education

The backgrounds of chief executive officers, such as their education and experience, vary greatly. Many have a bachelor's degree or higher in business administration or liberal arts. Often, they possess education and experience related to the specific industry in which they work. In the public sector, chief executive officers may have a degree in public administration or liberal arts, or they may have a background that relates directly to their specific sector. Some chief executive officers rise to their position by being promoted through middle- and upper-management positions in their organization, while others with specialized backgrounds are hired from other organizations.

Employment

In 2002, chief executive officers held about 553,000 jobs. 80% were employed by service-providing industries, including government.

Job Outlook

Between 2002 and 2012, the number of chief executive officers is expected to increase about as fast as the average. Although automation and corporate restructuring will slow down growth for lower-level managers, chief executive officers will remain somewhat immune to this, due to their crucial role in an organization's success. Professional, scientific, and technical services and administrative and support services will experience faster than average growth, while manufacturing should experience a decline.