Top Executives

Top executives plan strategies and policies to ensure that an organization meets its goals. They coordinate and direct work activities of companies and organizations.

Duties

Top executives typically do the following:

• Establish and carry out departmental or organizational goals, policies, and procedures
• Direct and oversee an organization’s financial and budgetary activities
• Manage general activities related to making products and providing services
• Consult with other executives, staff, and board members about general operations
• Negotiate or approve contracts and agreements
• Appoint department heads and managers
• Analyze financial statements, sales reports, and other performance indicators
• Identify places to cut costs and to improve performance, policies, and programs

The responsibilities of top executives largely depend on an organization’s size. In small organizations, such as an independent retail store, an owner or manager often is responsible for hiring, training, quality control, and day-to-day supervisory duties. In large organizations, chief executives typically focus on formulating policies and planning strategies, while general and operations managers direct day-to-day operations.

The following are examples of types of top executives:

Chief executive officers (CEOs), who are also known by titles such as executive director, managing director, or president, provide overall direction for companies and organizations. CEOs manage company operations, formulate and implement policies, and ensure that goals are met. They collaborate with and direct the work of other top executives and typically report to a board of directors.

There may be other types of chief executives—such as chief operating officers (COOs), chief financial officers (CFOs), or chief human resources officers—who manage a specific part of the organization. The knowledge, skills, and job duties that these executives have differ, depending on which department they oversee.

General and operations managers oversee activities that are too diverse to be classified into one area of management or administration. Responsibilities may include formulating policies, directing daily operations, and planning the use of materials and human resources. These managers make staff schedules, assign work, and ensure that projects are completed. In some organizations, the tasks of chief executive officers may overlap with those of general and operations managers.

Mayors, city managers, county administrators, and governors are chief executive officers of governments. They usually oversee budgets, programs, and the use of resources. Mayors and governors must be elected to office, whereas managers and administrators are typically appointed.

School superintendents and college or university presidents are chief executive officers of school districts and postsecondary schools. They manage issues such as student achievement, budgets and resources, general operations, and relations with government agencies and other stakeholders.

Chief executives held about 309,400 jobs in 2024. The largest employers of chief executives were as follows:

General and operations managers held about 3.7 million jobs in 2024. The largest employers of general and operations managers were as follows:

Top executives work in nearly every industry. They work for both small and large organizations, ranging from businesses in which they are the sole employee to firms with hundreds or thousands of employees.

Because top executives often are held responsible for their organization’s success, their work may be stressful.

Top executives frequently travel to attend meetings and conferences or to visit local, regional, national, or international offices of interest.

Top executives often interact with other high-level executives, such as financial managers, human resource managers, or chief technology officers.

Work Schedules

Most top executives work full time, and many work more than 40 hours per week, including evenings and weekends.

Top executives typically need at least a bachelor’s degree and considerable work experience to enter the occupation.

The median annual wage for chief executives was $206,420 in May 2024.

The median annual wage for general and operations managers was $102,950 in May 2024.

Overall employment of top executives is projected to grow 4 percent from 2024 to 2034, about as fast as the average for all occupations.

About 331,000 openings for top executives are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.