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Chief executive officer hiring summary. Here are some key points about hiring chief executive officers in the United States:
Here's a step-by-step chief executive officer hiring guide:
A chief executive officer is the overall head of the company's operations. Chief executive officers are responsible for making corporate decisions that would define the company's performance in the market. A chief executive officer must display exceptional leadership and decision-making skills to create business growth and development strategies. The chief executive officers also provide a regular business update to the board regarding the company's status. They should also be able to identify business opportunities and create long-lasting, professional relationships with business partners and other organizations.
The chief executive officer hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.
Hiring the perfect chief executive officer also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.
The following list breaks down different types of chief executive officers and their corresponding salaries.
| Type of Chief Executive Officer | Description | Hourly rate |
|---|---|---|
| Chief Executive Officer | Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations. | $50-170 |
| Vice President & General Manager | A vice president and general manager's role is to implement policies and regulations while overseeing the business operations. Typically, it is their primary responsibility to devise training programs that would produce more efficient workforce members, create new strategies to boost sales and customer satisfaction, and participate in budget and goals creation... Show more | $51-131 |
| Vice President | Vice presidents are usually considered the second-in-command in the organization, depending on the organization structure. They take over when the president is unavailable to fulfill duties... Show more | $51-112 |
Including a salary range in the chief executive officer job description is a good way to get more applicants. A chief executive officer salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a chief executive officer in Maine may be lower than in Hawaii, and an entry-level engineer typically earns less than a senior-level chief executive officer. Additionally, a chief executive officer with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Hawaii | $247,076 | $119 |
| 2 | District of Columbia | $214,895 | $103 |
| 3 | Nevada | $214,262 | $103 |
| 4 | New York | $202,367 | $97 |
| 5 | Connecticut | $198,915 | $96 |
| 6 | California | $195,438 | $94 |
| 7 | Texas | $190,853 | $92 |
| 8 | Virginia | $183,858 | $88 |
| 9 | Illinois | $181,007 | $87 |
| 10 | Pennsylvania | $174,708 | $84 |
| 11 | Massachusetts | $174,455 | $84 |
| 12 | Washington | $174,163 | $84 |
| 13 | Georgia | $171,188 | $82 |
| 14 | Nebraska | $164,765 | $79 |
| 15 | Colorado | $155,810 | $75 |
| 16 | North Carolina | $154,429 | $74 |
| 17 | Ohio | $152,224 | $73 |
| 18 | Florida | $151,617 | $73 |
| 19 | Indiana | $150,636 | $72 |
| 20 | Oregon | $147,652 | $71 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Alecto Healthcare Services LLC | $260,813 | $125.39 | |
| 2 | BridgePoint Healthcare | $251,797 | $121.06 | |
| 3 | Architizer | $249,875 | $120.13 | |
| 4 | SoundCloud | $249,094 | $119.76 | |
| 5 | REDCOM Laboratories | $247,039 | $118.77 | |
| 6 | Surgery Partners | $246,858 | $118.68 | 13 |
| 7 | ION | $239,174 | $114.99 | 1 |
| 8 | UnitedHealth Group | $239,171 | $114.99 | 206 |
| 9 | Telefónica Ecuador | $238,087 | $114.46 | |
| 10 | Hazelcast | $237,783 | $114.32 | |
| 11 | DropThought | $236,128 | $113.52 | |
| 12 | Carle Foundation | $234,437 | $112.71 | 41 |
| 13 | Mercato | $234,167 | $112.58 | |
| 14 | Atheer | $233,927 | $112.46 | |
| 15 | Proteus International | $233,783 | $112.40 | 1 |
| 16 | HTx Services | $232,802 | $111.92 | |
| 17 | Mobile.co | $231,885 | $111.48 | 8 |
| 18 | Quorum Health | $231,712 | $111.40 | 5 |
| 19 | Community Health Systems | $231,691 | $111.39 | 102 |
| 20 | Amour Vert | $231,566 | $111.33 |
A chief executive officer job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a chief executive officer job description:
There are a few common ways to find chief executive officers for your business:
During your first interview to recruit chief executive officers, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the chief executive officer position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.
Hiring a chief executive officer comes with both the one-time cost per hire and ongoing costs. The cost of recruiting chief executive officers involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of chief executive officer recruiting as well the ongoing costs of maintaining the new employee.
The median annual salary for chief executive officers is $192,260 in the US. However, the cost of chief executive officer hiring can vary a lot depending on location. Additionally, hiring a chief executive officer for contract work or on a per-project basis typically costs between $50 and $170 an hour.