Many individuals strive to achieve a career in executive management. When an individual is in a management position that is considered "executive", it normally indicates the very top of the management grid. These positions rest in many major corporations and business establishments. Often, executive managers are referred to by an assortment of other names. These names may include:
1. Chief Executive
2. Chief Operating Officer
3. Vice President
4. General Manager
5. Chief Officer of Financial Affairs
In this article, we will explore various career opportunities in executive management, as well as the educational requirements and compensation for these types of positions.
Education
In order to qualify for a career in executive management, it is essential to obtain a college degree. Normally, this particular educational degree is for business management. This type of educational degree will allow you to acquire a detailed understanding of all the major components of a business. This educational background will teach you about the business from a variety of angles.
You will learn about the accounting of a business, financial situations and aspects of a business, the human resource department, the production of a business, information systems and the role that they play in business organizations, as well as various types of information regarding the marketing of a business. This type of educational background is a must if you are pursuing the career of executive management. This is because, as a general or executive manager, you are required to know your business inside and out. If you are not familiar with these components of your business, then you will not be successful in your career.
The following details an example of coursework that you may be required to take if you are interested in executive management:
1. Financial Accounting
2. Information Technology
3. College Algebra
4. English Composition
5. Principles of Management
6. Managerial Accounting
7. English Composition
8. Software Productivity Tools
9. Oral Communications
10. Public Speaking
11. General Psychology
12. Writing for Business and Technology
13. Entrepreneurship
14. E-Commerce
15. Human Resource Management
16. Microeconomics
17. Various Business Electives
It is imperative that you understand many concepts if you are looking to enter the field of executive management. An example of these concepts includes employee motivation, communication, leadership, problem solving, conflict resolution, team building, and many more similar topics. As an executive manager, it is essential to ensure that you understand how to control the operations that occur in your business. You must also learn to set goals that are both strategic as well as tactical.
Compensation
Executive managers are compensated according to the size of the organization that they work for, as well as the type of industry that they are responsible for. Most businesses in the United States are now considered to be "small businesses", or "private organizations". Individuals that are in the place of an executive manager in these types of businesses are often paid generally less than individuals who have the same role in major companies and businesses.
Normally, an executive manager is compensated by a salary. This salary may pay on a weekly, bi-weekly, or monthly basis. When you break a salary down into an hourly rate, most individuals in this capacity make approximately $18.00 per hour and up. This is a common rate of pay for those who work in a small or private business organization. For those that work in major businesses and corporations, the standard rate of pay per hour averages out to be around $21.00 per hour or more.
Many individuals who are in the career of executive management often receive periodic raises and bonuses for the overall productivity of the business in which they manage. This may or may not be a standard procedure. However, in the sales business and the call center business, many executive managers receive rewards based on the amount of sales, the amount of resolved customers, and call handle times. These bonuses and raises can be anywhere from the low hundreds to the high thousands.
Examples of Industries
There are many industries that hire the services of an executive manager. Some examples of these include:
1. Software Companies
2. Call Centers
3. Hardware Companies
4. Telephone Companies
5. Cell Phone Services
6. Furniture Sales
7. Financial Institutions
If you are interested in acquiring a career in the field of executive management in the United States or Canada, you may consider checking out these companies:
1. PRC - United States
2. Microsoft - United States
3. HSBS Bank - Canada
4. Canquest Communications, Inc. - Canada
5. Service Quality Management Group, Inc. - Canada
6. Sykes Enterprises - United States
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