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Chief Executive
Also called: CEO · President · Executive Director · Managing Director
What chief executives do, what they earn, how long training takes and how to get started, with official BLS pay data and practical, job-level detail.
What does a chief executive do?
Chief executives determine and formulate policies and provide overall direction of companies or private and public organizations. The median pay is $213,990 per year (BLS, May 2025), most people train for about 15+ years of experience, and employment is projected to grow +3.2% from 2025–35.
Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026
- Median pay$213,990$102.88/hour · May 2025
- Job growth+3.2%2025–35, about as fast as average
- Openings per year19,100Average, 2025–35
- Typical entry educationBachelor's degreeBLS classification
- Time to train15+ years of experienceTypical program length
- U.S. jobs291,600Employment, 2025
What chief executives do
Chief executives run organizations. They set strategy, build the leadership team, approve budgets, report to a board of directors, represent the organization to investors, customers and the public, and make the final call on major decisions. In nonprofits the role is often called executive director.
Most have a bachelor’s degree, often an MBA, and many years of management experience. BLS lists five or more years of related experience as typical.
Typical duties
- Set strategy and goals
- Build the leadership team
- Approve budgets
- Report to the board
- Represent the organization publicly
- Make major decisions
- Shape company culture
Work environment and schedule
Chief executives work in offices and travel often to meet customers, investors and staff.
Schedule: Long hours, frequent travel and evening events are common.
A day in the life
- Review overnight results.
- Meet the leadership team.
- Call a major customer.
- Review an acquisition proposal.
See a full day in the life of a chief executive →
Chief Executive salary
Half of chief executives earned more than $213,990 and half earned less in May 2025. Pay ranged from about $75,700 for the lowest 10% to $507,730 for the top 10%.
Full chief executive pay scale and hourly rates →
How to become a chief executive
- Earn a bachelor’s
- Manage teams
- Earn an MBA
- Run a division
- Become CEO
A bachelor’s degree is typical, often with an MBA, plus many years of management experience.
Step-by-step guide to becoming a chief executive →
Skills and tools
Technical skills
- Strategic planning
- Financial management
- Leadership
- Negotiation
- Risk management
People skills
- Decision-making
- Communication
- Vision
- Resilience
All chief executive skills and tools →
Pros and cons
Pros
- Top pay
- Shape a whole organization
- Big influence
- Varied work
Cons
- Very long hours
- High pressure
- Public accountability
- Job security depends on results
Certifications and licenses
- MBA: Common graduate degree.
- Board governance training: Such as NACD.
- Executive education: University programs.
- Industry credentials: Field-specific.
Career path
- Manager: Lead a team.
- Director: Lead a function.
- Vice President or General Manager: Run a division.
- Chief Executive: Lead the organization.
Learn the job before day one
Our Chief Executive training (10 hours, $89.99) covers the role, 15+ key terms, step-by-step procedures such as prepare a quarterly board meeting and set three company-wide priorities for the year, safety and how to land your first job.
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Chief Executive FAQ
How do you become a CEO?
Usually through years of management and running a division or business.
Do CEOs need an MBA?
Not always, but many have one.
Who does the CEO report to?
The board of directors.
How much does a chief executive make?
The median annual wage for chief executives was $213,990 ($102.88 per hour) in May 2025, according to the U.S. Bureau of Labor Statistics. The lowest 10% earned less than $75,700 and the highest 10% earned more than $507,730.
How long does it take to become a chief executive?
Most people need about 15+ years of experience of training. A bachelor’s degree is typical, often with an MBA, plus many years of management experience.
Do you need a degree to be a chief executive?
Usually, yes. BLS lists a bachelor's degree as the typical entry-level education, although skills, certifications and experience can sometimes substitute.
More chief executive questions →
Sources
- U.S. Bureau of Labor Statistics, BLS Occupational Employment and Wage Statistics (OEWS), May 2025, SOC 11-1011 (Chief executives).
- U.S. Bureau of Labor Statistics, BLS Employment Projections, Table 1.2 (2025–35).
- O*NET OnLine summary for Chief executives (U.S. Department of Labor).
- BLS Occupational Outlook Handbook.
Reviewed by the Career Education Institute Curriculum Team. Pay figures are national estimates; local pay varies. See our editorial policy.