Chief Executive Officer (CEO) Salary
Chief Executive Officers in the United States can look forward to a sizeable six-figure salary — around $167K per year on average. Total cash incomes of Chief Executive Officers run from $75K to $422K, depending on bonuses that can occasionally exceed $149K, profit sharing that reaches $118K, and some commissions of nearly $99K. The specific employer is the main element affecting pay for this group — experience level and location are driving factors as well. The vast majority of Chief Executive Officers (82 percent) who took the survey are men. Chief Executive Officers largely appreciate their work and find this position highly satisfactory. Medical benefits are awarded to most, and the greater part earn dental coverage. This snapshot results from replies to PayScale's salary survey.
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Job Description for Chief Executive Officer (CEO)
A chief executive officer (CEO) is someone who is in charge of an organization and normally makes the vast majority of all business related executive decisions. In order to succeed at the position, a CEO must have great social skills, possess the ability to be an effective leader and not shy away from making big decisions. The specific job duties that are required from a CEO will vary depending on what type of organization they happen to be the leader of, as there could be a wide range of job responsibilities that may differ from one another. A CEO shoulders the large burden of having the majority of accountability when it comes to the success or failure of an organization, as one major decision can often take a large toll on a company whether it is good or bad. A few of the many job responsibilities that a CEO may have include several commanding responsibilities such as leading, guiding, overseeing the job performance of other highly ranking company employees such as the president and vice presidents. Furthermore, the CEO will also be responsible for putting together and formulating a strategic set of plans on how to address the direction of their company, as this is one of the more important parts of carrying the job title. It is their job to make sure that all employees carefully follow these plans when it comes to all business decisions and matters that go on within the company itself. A CEO makes a great living and can afford a very nice lifestyle away from the company, but the position comes with some large responsibilities and long hours that can be very stressful.
Chief Executive Officer (CEO) Tasks
- Drive strategic planning, business development, and fiscal operations.
- Establish positive relationships with stakeholders and other business leaders.
- Determine overarching goals and initiatives.
Common Career Paths for Chief Executive Officer (CEO)
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Chief Executive Officers tend not to experience significant pay changes as they move up the career ladder to roles like Chief Marketing Officer. The two jobs pay about the same on average. A lot of Chief Executive Officers advance their careers by becoming Non-Profit CEOs and Executive Directors. However, those positions offer $85K less and $111K less per year on average.
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Popular Skills for Chief Executive Officer (CEO)
Survey results imply that Chief Executive Officers deploy a substantial tool kit of skills at work. Most notably, facility with Strategy, Strategy Development, and Leadership are correlated to pay that is significantly above average, leading to increases of 36 percent, 14 percent, and 11 percent, respectively. At the other end of the pay range are skills like Budget Management, Financial Analysis, and Operations Management. For most people, competency in Operations Management indicates knowledge of Leadership and Strategic Planning.
Pay by Experience Level for Chief Executive Officer (CEO)
Pay by Experience for a Chief Executive Officer (CEO) has a positive trend. An entry-level Chief Executive Officer (CEO) with less than 5 years of experience can expect to earn an average total compensation of $120,000 based on 923 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Chief Executive Officer (CEO) with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $154,000 based on 1,060 salaries. An experienced Chief Executive Officer (CEO) which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $193,000 based on 2,139 salaries. A Chief Executive Officer (CEO) with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $229,000 based on 2,165 salaries.
Pay Difference by Location
For Chief Executive Officers, busy Boston offers a higher-than-average pay rate, 39 percent above the national average. Chief Executive Officers can also look forward to large paychecks in cities like New York (+38 percent), Houston (+36 percent), Washington (+32 percent), and San Francisco (+26 percent). Those in the field find the lowest salaries in Miami, 19 percent below the national average.
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Key Stats for Chief Executive Officer (CEO)
Gender
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Female
18 % |
|
Male
82 % |
|
Job Satisfaction
| Extremely satisfied |
Rated 5 out of 5 based on 617 votes. |
|
