CEO stands for Chief Executive Officer, and it’s the highest-ranking position in a company after that of the owner. The CEO has direct control over all of the company’s departments, and is responsible for coordinating and managing them, and applying the company’s developed strategy in practice. A CEO performs their job by regularly meeting with the heads of a company’s departments and helping coordinate their actions. The CEO will also often represent the company in high-ranking deals, as well as personally screen candidates for some of the more important positions, often conducting the interviews.
Becoming a CEO can be quite demanding depending on the size of the company involved, and in most cases at least a Bachelor’s degree in finances or economics will be required. Since the CEO’s job is primarily focused on management, prior experience in a managing position is usually of great benefit to a candidate. It’s very rare for candidates with less than 10 years’ worth of working experience to obtain a position as a CEO, though it’s possible, in cases where the candidate demonstrates extraordinary management skills and knowledge of the corporate structure.
A CEO, being the highest-ranking officer in the company, is also the best-compensated position as well. A CEO’s annual salary is commonly over $100,000, and in some cases may go up to $250,000 – $300,000. Some “career executives” who frequently move from company to company on a contract basis are able to instantly start at a salary of over $150,000 if they’ve got sufficient prior experience.