The definition of an executive-level job tends to differ from one company to the next and from culture to culture. Typically, executive-level jobs include the holders of titles such as Chair of the Board, CEO, president, vice president, director, managing partner, and “C-level” positions.
All these titles signify a degree of leadership in the company. However, they can make it hard to discern the appropriate hierarchy and varying levels of responsibility assigned to each title. Sometimes, the same job can have different titles depending on the company and industry.
Below is a look at the five most common executive-level jobs and their responsibilities.
1. Chief Executive Officer (CEO)
The CEO is, in most cases, the top executive and face of the company. This person is tasked with making all the major decisions and managing the available resources. Their responsibilities include managing company operations and defining its public image.
Often, their duties will vary based on the size of the company in question.
2. Chair of the Board (CoB)
Whoever occupies this role gets to head the company’s Board of directors. It is an elective position, and the holder typically holds the most power and authority on the Board. Their job is to provide leadership to the company’s other executives and officers.
Top among their duties is to ensure that the company fulfils its duties to the shareholders.
3. Chief Operating Officer (COO)
A COO is a hands-on administrator who must work closely with every department in the company to ensure it remains profitable. Their duties include approving and auditing departmental operating plans and budgets.
They are expected to use their experience to evaluate the plans presented to them and provide suggestions and guidance for better performance. It’s not uncommon to find a COO lacking product knowledge as their duties revolve around running the firm, not increasing sales.
4. Chief Financial Officer (CFO)
The Chief Financial Officer is the top-level officer tasked with managing the company’s finances. A COO’s duties involve handling everything from annual financial reports to overseeing the company’s short- and long-term capital structure.
Its office holder gets to decide where the company will invest its business earnings. Budget preparation, financial forecasting, and overseeing debt repayment are some activities that a CFO will need to oversee daily.
5. Vice President
Company vice presidents are often called directors or chiefs and normally have authority over a given unit or department. An excellent example of such a title might be “Vice President of Product Development.”
Vice presidents are, in most companies, second or third-in-command to the company CEO and are best suited to know what’s happening in a given department than the CEO or COO. Although their responsibilities are closer to that of the COO, they are relatively uninvolved in the other aspects of the business.
Choosing whether you prefer working in finance, marketing, or administration will help you determine your preferred executive-level job and how to get there. Please note that job titles can vary depending on the company and industry.
Hiring for these jobs can be challenging, as it may involve enticing passive candidates. This is where a strong headhunting team like Eagle headhunting firm, can help secure the right person for the job.