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.
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.
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.