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Chief operating officer hiring summary. Here are some key points about hiring chief operating officers in the United States:
Here's a step-by-step chief operating officer hiring guide:
A chief operating officer, also known as a COO, is a high-ranking official who oversees a company or organization's daily administrative and overall operations. They are typically the second in the chain of command, reporting directly to the company's chief executive officer, also known as a CEO. Among their duties include developing strategies and guidelines, reviewing reports, performing assessments, and implementing the company's policies, standards, and regulations. Additionally, they lead and empower staff to reach goals, helping solve issues and concerns when any arise.
Before you start hiring a chief operating officer, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
You should also consider the ideal background you'd like them a chief operating officer to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a chief operating officer that fits the bill.
The following list breaks down different types of chief operating officers and their corresponding salaries.
| Type of Chief Operating Officer | Description | Hourly rate |
|---|---|---|
| Chief Operating 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. | $38-110 |
| Division Director | A division director is a professional who is responsible for managing team members and business operations that are assigned in his/her or her division to achieve the goals of a company. Division directors are required to evaluate division performance and ensure that the team's work complies with the company policies and procedures... Show more | $32-102 |
| 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 operating officer job description is a good way to get more applicants. A chief operating 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 operating officer in Wyoming may be lower than in New Jersey, and an entry-level engineer typically earns less than a senior-level chief operating officer. Additionally, a chief operating officer with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New Jersey | $188,014 | $90 |
| 2 | New York | $175,487 | $84 |
| 3 | California | $161,799 | $78 |
| 4 | District of Columbia | $158,536 | $76 |
| 5 | Massachusetts | $158,086 | $76 |
| 6 | Virginia | $150,091 | $72 |
| 7 | Illinois | $148,614 | $71 |
| 8 | Maryland | $145,671 | $70 |
| 9 | Texas | $144,822 | $70 |
| 10 | Pennsylvania | $142,585 | $69 |
| 11 | Nevada | $138,674 | $67 |
| 12 | Washington | $132,953 | $64 |
| 13 | Georgia | $120,764 | $58 |
| 14 | North Carolina | $119,725 | $58 |
| 15 | Minnesota | $119,592 | $58 |
| 16 | Arizona | $119,586 | $57 |
| 17 | Florida | $110,902 | $53 |
| 18 | Colorado | $109,430 | $53 |
| 19 | Ohio | $109,361 | $53 |
| 20 | Missouri | $108,686 | $52 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Baker McKenzie | $213,757 | $102.77 | |
| 2 | Meta | $210,812 | $101.35 | 25 |
| 3 | Neighborhood Health | $206,359 | $99.21 | 1 |
| 4 | McKinsey & Company Inc | $202,268 | $97.24 | |
| 5 | Trulia | $196,208 | $94.33 | |
| 6 | Mercy Corps | $191,533 | $92.08 | 9 |
| 7 | Yum! Brands | $186,309 | $89.57 | 2 |
| 8 | Baker Botts | $184,511 | $88.71 | |
| 9 | Boston Market | $184,147 | $88.53 | |
| 10 | Slidell Memorial Hospital | $182,983 | $87.97 | |
| 11 | Appalachian Regional Healthcare | $182,756 | $87.86 | 1 |
| 12 | Csb | $180,771 | $86.91 | |
| 13 | Riot Games | $179,377 | $86.24 | |
| 14 | Citi | $178,900 | $86.01 | 209 |
| 15 | AIG | $177,169 | $85.18 | 39 |
| 16 | YouNow | $176,622 | $84.91 | |
| 17 | Colfax Corporation | $173,362 | $83.35 | 4 |
| 18 | Hca Hospital Services Of San Diego | $172,807 | $83.08 | |
| 19 | Tourneau | $171,764 | $82.58 | |
| 20 | York Hospital | $171,528 | $82.47 |
A chief operating 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 operating officer job description:
There are a few common ways to find chief operating officers for your business:
Recruiting chief operating officers requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.
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've found the chief operating officer candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
It's equally important to follow up with applicants who don't get the job with 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.
There are different types of costs for hiring chief operating officers. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new chief operating officer employee.
Chief operating officers earn a median yearly salary is $136,604 a year in the US. However, if you're looking to find chief operating officers for hire on a contract or per-project basis, hourly rates typically range between $38 and $110.