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What is a Managing Director

Managing director controls and directs the operations of the company. He/She takes orders from the board in line with the mission and objectives of the company. As a Managing director, you will make sure that well-trained and developed staff are recruited to increase the company's output. Likewise, you will prepare a good business plan for the company and make sure you monitor the progress of these plans to ensure the company achieves its objectives effectively and efficiently. Therefore, you will relate the reports to the board and give strategic advice to make them know the developments within the company.

A proven successful record in senior management, preferably in the industry or related industry, is a needed requirement for the post. Required skills for the post of the managing director include excellent organizational, analytical, and problem-solving skills. Since the managing director is in charge of the company, he/she will need excellent communication skills and a wide knowledge of the company. With this, you can earn $160,351 on an average per year.

There is more than meets the eye when it comes to being a Managing Director. For example, did you know that they make an average of $94.57 an hour? That's $196,703 a year!

Between 2018 and 2028, the career is expected to grow 6% and produce 150,600 job opportunities across the U.S.

What Does a Managing Director Do

There are certain skills that many Managing Directors have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Leadership skills, Management skills and Problem-solving skills.

Learn more about what a Managing Director does

How To Become a Managing Director

If you're interested in becoming a Managing Director, one of the first things to consider is how much education you need. We've determined that 67.5% of Managing Directors have a bachelor's degree. In terms of higher education levels, we found that 21.2% of Managing Directors have master's degrees. Even though most Managing Directors have a college degree, it's impossible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a Managing Director. When we researched the most common majors for a Managing Director, we found that they most commonly earn Bachelor's Degree degrees or Master's Degree degrees. Other degrees that we often see on Managing Director resumes include Associate Degree degrees or Doctoral Degree degrees.

You may find that experience in other jobs will help you become a Managing Director. In fact, many Managing Director jobs require experience in a role such as Vice President. Meanwhile, many Managing Directors also have previous career experience in roles such as Director or Senior Vice President.

What is the right job for my career path?

Tell us your goals and we'll match you with the right jobs to get there.

And if you’re looking for a job, here are the five top employers hiring now:

  1. Citigroup Jobs (79)
  2. Morgan Stanley Jobs (94)
  3. The Bank of New York Mellon Jobs (85)
  4. PricewaterhouseCoopers Jobs (47)
  5. Accenture Jobs (43)
Average Salary
$196,703
Average Salary
Job Growth Rate
6%
Job Growth Rate
Job Openings
89,175
Job Openings
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Managing Director Career Paths

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Average Salary for a Managing Director

Managing Directors in America make an average salary of $196,703 per year or $95 per hour. The top 10 percent makes over $358,000 per year, while the bottom 10 percent under $107,000 per year.
Average Salary
$196,703
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12 Managing Director Resume Examples

Learn How To Write a Managing Director Resume

At Zippia, we went through countless Managing Director resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Managing Director Resume Examples And Templates

And if you’re looking for a job, here are the five top employers hiring now:

  1. Citigroup Jobs (79)
  2. Morgan Stanley Jobs (94)
  3. The Bank of New York Mellon Jobs (85)
  4. PricewaterhouseCoopers Jobs (47)
  5. Accenture Jobs (43)

Choose From 10+ Customizable Managing Director Resume templates

Zippia allows you to choose from different easy-to-use Managing Director templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Managing Director resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Managing Director Demographics

Managing Director Gender Distribution

Male
Male
74%
Female
Female
27%

After extensive research and analysis, Zippia's data science team found that:

  • Among Managing Directors, 26.5% of them are women, while 73.5% are men.

  • The most common race/ethnicity among Managing Directors is White, which makes up 71.6% of all Managing Directors.

  • The most common foreign language among Managing Directors is Spanish at 33.9%.

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Managing Director Education

Managing Director Majors

28.6 %
11.4 %

Managing Director Degrees

Bachelors

67.5 %

Masters

21.2 %

Associate

5.0 %

Top Colleges for Managing Directors

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

5. Pennsylvania State University

University Park, PA • Private

In-State Tuition
$18,454
Enrollment
40,108

6. University of Texas at Austin

Austin, TX • Private

In-State Tuition
$10,610
Enrollment
40,329

7. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

8. Northeastern University

Boston, MA • Private

In-State Tuition
$51,522
Enrollment
13,760

9. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

10. Lehigh University

Bethlehem, PA • Private

In-State Tuition
$52,930
Enrollment
5,030
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Top Skills For a Managing Director

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 8.0% of Managing Directors listed Business Development on their resume, but soft skills such as Leadership skills and Management skills are important as well.

Best States For a Managing Director

Some places are better than others when it comes to starting a career as a Managing Director. The best states for people in this position are New York, Connecticut, New Jersey, and Rhode Island. Managing Directors make the most in New York with an average salary of $203,481. Whereas in Connecticut and New Jersey, they would average $196,270 and $186,767, respectively. While Managing Directors would only make an average of $184,516 in Rhode Island, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. New York

Total Managing Director Jobs:
3,115
Highest 10% Earn:
$282,000
Location Quotient:
2.06
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Connecticut

Total Managing Director Jobs:
467
Highest 10% Earn:
$277,000
Location Quotient:
1.2
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Delaware

Total Managing Director Jobs:
264
Highest 10% Earn:
$267,000
Location Quotient:
1.79
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Managing Directors

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Top Managing Director Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ Managing Directors and discovered their number of Managing Director opportunities and average salary. Through our research, we concluded that Goldman Sachs was the best, especially with an average salary of $263,497. Huntington Learning Center follows up with an average salary of $195,652, and then comes JPMorgan Chase & Co. with an average of $308,280. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a Managing Director. The employers include Charles Schwab, Mastercard, and Cigna

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Becoming a Managing Director FAQs

Do you need an MBA to be a managing director?

No, you do not need an MBA to be a managing director. However, it is highly recommended and may be required for some corporations. The title "Managing Director" is used for different roles.

How long does it take to become a managing director?

It takes a minimum of ten years to become a managing director but typically takes between 15 and 20 years. This time may vary based on which "Managing Director" role you choose.

The managing director can refer to an executive-level management role. It takes at least a decade to manage teams and business strategies with a proven track record. Or this role can refer to investment banking and managing investment accounts.

Is a CEO or managing director higher?

Neither a CEO nor a managing director is higher because they are the same thing. CEO is used primarily in the US, and Managing Director may be its European counterpart.

In company hierarchy, the CEO is typically at the top over all other roles. Sometimes a company will have both a CEO and an MD. There are distinct differences in roles and responsibilities. A CEO oversees all the company areas and reports to the board, while an MD may be part of the board of directors and oversee the function of different departments. It may depend on the company that sits at the top.

Is a managing director an executive?

Yes, a managing director is an executive. The managing director is a senior management position responsible for the daily operations of a business and is considered an executive.

The role works at the highest level of strategic direction and decision-making within the company. In some cases, the title of Managing Director (MD) and Chief Executive Officer (CEO) may be used interchangeably to describe the same corporate role using different languages from companies internationally.

What are the qualifications for a managing director?

The qualifications for a managing director are 10 to 20 years of work experience and a proven management track record when referring to executive leadership positions. As the managing director, you are running the company at the very top.

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