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Become A Managing Director

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Working As A Managing Director

  • Making Decisions and Solving Problems
  • Communicating with Supervisors, Peers, or Subordinates
  • Getting Information
  • Coordinating the Work and Activities of Others
  • Guiding, Directing, and Motivating Subordinates
  • Deal with People

  • Make Decisions

  • Stressful

  • $151,000

    Average Salary

What Does A Managing Director Do

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.

Duties

Top executives typically do the following:

  • Establish and carry out departmental or organizational goals, policies, and procedures
  • Direct and oversee an organization’s financial and budgetary activities
  • Manage general activities related to making products and providing services
  • Consult with other executives, staff, and board members about general operations
  • Negotiate or approve contracts and agreements
  • Appoint department heads and managers
  • Analyze financial statements, sales reports, and other performance indicators
  • Identify places to cut costs and to improve performance, policies, and programs

The responsibilities of top executives largely depend on an organization’s size. For example, an owner or manager of a small organization, such as an independent retail store, often is responsible for purchasing, hiring, training, quality control, and day-to-day supervisory duties. In large organizations, however, top executives typically focus more on formulating policies and strategic planning, while general and operations managers direct day-to-day operations.

The following are examples of types of top executives working in the private sector:

Chief executive officers (CEOs), who are also known by titles such as executive director, managing director, or president, provide overall direction for companies and organizations. CEOs manage company operations, formulate and implement policies, and ensure goals are met. They collaborate with and direct the work of other top executives and typically report to a board of directors.

Chief operating officers (COOs) oversee other executives who direct the activities of various departments, such as human resources and sales. They also carry out the organization’s guidelines on a day-to-day basis.

General and operations managers oversee operations that are too diverse and general to be classified into one area of management or administration. Responsibilities may include formulating policies, managing daily operations, and planning the use of materials and human resources. They make staff schedules, assign work, and ensure that projects are completed. In some organizations, the tasks of chief executive officers may overlap with those of general and operations managers.

The following are examples of types of top executives working in the public sector:

Mayors, along with governors, city managers, and county administrators, are chief executive officers of governments. They typically oversee budgets, programs, and the use of resources. Mayors and governors must be elected to office, whereas managers and administrators are typically appointed. 

Most educational systems, regardless of whether they are public or private school systems, also employ executive officers. The following are examples of top executives working in the elementary, secondary, and postsecondary educational school systems:

School superintendents and college or university presidents are chief executive officers of school districts and postsecondary schools. They manage issues such as student achievement, budgets and resources, general operations, and relations with government agencies and other stakeholders.

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How To Become A Managing Director

Although education and training requirements vary widely by position and industry, many top executives have at least a bachelor’s degree and a considerable amount of work experience. 

Education

Many top executives have a bachelor’s or master’s degree in business administration or in an area related to their field of work. Top executives in the public sector often have a degree in business administration, public administration, law, or the liberal arts. Top executives of large corporations often have a master’s degree in business administration (MBA).

College presidents and school superintendents are typically required to have a master’s degree, although a doctorate is often preferred.

Although many mayors, governors, or other public sector executives have at least a bachelor’s degree, these positions typically do not have any specific education requirements.

Work Experience in a Related Occupation

Many top executives advance within their own firm, moving up from lower level managerial or supervisory positions. However, other companies may prefer to hire qualified candidates from outside their organization. Top executives who are promoted from lower level positions may be able to substitute experience for education to move up in the company. For example, in industries such as retail trade or transportation, workers without a college degree may work their way up to higher levels within the company to become executives or general managers.

Chief executives typically need extensive managerial experience. Executives are also expected to have experience in the organization’s area of specialty. Most general and operations managers hired from outside an organization need lower level supervisory or management experience in a related field.

Some general managers advance to higher level managerial or executive positions. Company training programs, executive development programs, and certification can often benefit managers or executives hoping to advance.

Important Qualities

Communication skills. Top executives must be able to communicate clearly and persuasively. They must effectively discuss issues and negotiate with others, direct subordinates, and explain their policies and decisions to those within and outside the organization.

Decisionmaking skills. Top executives need decisionmaking skills when setting policies and managing an organization. They must assess different options and choose the best course of action, often daily.

Leadership skills. Top executives must be able to lead an organization successfully by coordinating policies, people, and resources.

Management skills. Top executives must shape and direct the operations of an organization. For example, they must manage business plans, employees, and budgets.

Problem-solving skills. Top executives need to identify and resolve issues within an organization. They must be able to recognize shortcomings and effectively carry out solutions.

Time-management skills. Top executives do many tasks at the same time, typically under their own direction, to ensure that their work gets done and that they meet their goals.

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Managing Director Jobs

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Help others decide if this is a good career for them

Average Length of Employment
Managing Partner 5.3 years
Managing Director 5.0 years
Vice President 4.2 years
Market Director 3.3 years
Top Careers Before Managing Director
Director 9.7%
Manager 6.0%
Consultant 5.0%
President 4.4%
Associate 3.7%
Principal 3.1%
Top Careers After Managing Director
Consultant 8.4%
Director 7.5%
President 7.2%
Principal 5.6%
Manager 3.2%
Owner 3.2%

Do you work as a Managing Director?

Managing Director Demographics

Gender

Male

65.9%

Female

24.6%

Unknown

9.5%
Ethnicity

White

60.4%

Hispanic or Latino

14.6%

Black or African American

11.8%

Asian

8.6%

Unknown

4.6%
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Foreign Languages Spoken

Spanish

33.9%

French

15.7%

German

8.7%

Portuguese

6.1%

Italian

4.6%

Mandarin

4.1%

Chinese

4.1%

Japanese

3.9%

Russian

3.7%

Arabic

3.1%

Korean

2.0%

Dutch

1.4%

Cantonese

1.2%

Swedish

1.1%

Hindi

1.1%

Thai

1.1%

Hebrew

1.1%

Carrier

1.1%

Turkish

1.0%

Greek

1.0%
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Managing Director Education

Schools

New York University

12.5%

University of Phoenix

9.6%

Columbia University

6.5%

Harvard University

5.8%

Northwestern University

5.6%

George Washington University

5.2%

University of Pennsylvania

5.2%

University of Chicago

4.8%

University of Texas at Austin

4.6%

Fordham University

4.5%

University of Southern California

4.5%

Cornell University

4.1%

Pennsylvania State University

4.1%

Michigan State University

3.8%

Temple University

3.4%

Boston University

3.2%

Georgetown University

3.2%

Arizona State University

3.1%

Syracuse University

3.1%

University of Houston

3.1%
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Majors

Business

33.8%

Finance

13.8%

Management

6.9%

Marketing

6.6%

Accounting

5.9%

Economics

4.1%

Law

3.6%

Political Science

3.3%

Communication

3.1%

Computer Science

2.5%

Psychology

2.5%

English

2.1%

Education

2.0%

Electrical Engineering

1.6%

Human Resources Management

1.6%

Real Estate

1.4%

Health Care Administration

1.4%

International Business

1.3%

Nursing

1.3%

History

1.3%
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Degrees

Bachelors

38.4%

Masters

36.2%

Other

13.5%

Doctorate

5.1%

Certificate

2.8%

Associate

2.6%

Diploma

1.1%

License

0.2%
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Job type you want
Full Time
Part Time
Internship
Temporary
Average Yearly Salary
$151,000
View Detailed Salary Report
$92,000
Min 10%
$151,000
Median 50%
$151,000
Median 50%
$151,000
Median 50%
$151,000
Median 50%
$151,000
Median 50%
$151,000
Median 50%
$151,000
Median 50%
$247,000
Max 90%
Best Paying Company
Guggenheim Partners
Highest Paying City
San Francisco, CA
Highest Paying State
Washington
Avg Experience Level
4.6 years
How much does a Managing Director make at top companies?
The national average salary for a Managing Director in the United States is $151,641 per year or $73 per hour. Those in the bottom 10 percent make under $92,000 a year, and the top 10 percent make over $247,000.

Real Managing Director Salaries

Job Title Company Location Start Date Salary
Senior Managing Director, Head of Investor Relations Lone Star Americas Acquisitions, L.L.C. New York, NY Jun 29, 2016 $775,000 -
$900,000
Managing Director Dyal Co. LLC Armonk, NY Sep 06, 2016 $650,000
Managing Director Vivo Capital, LLC Palo Alto, CA Sep 21, 2016 $600,000
Managing Director, Head of Latam Derivatives Trading Deutsche Bank Securities, Inc. New York, NY Jul 27, 2016 $525,000
Extended Managing Director Goldman, Sachs & Co. New York, NY Jul 12, 2015 $500,000
Extended Managing Director Goldman, Sachs & Co. New York, NY Feb 08, 2015 $500,000
Managing Director Bregal Energy, Inc. New York, NY Apr 24, 2016 $500,000
Extended Managing Director Goldman, Sachs & Co. New York, NY Mar 22, 2016 $500,000
Managing Director RSL Investments II Corporation New York, NY May 13, 2016 $500,000
Managing Director Head of Digital Business Jpmorgan Chase & Co. New York, NY Feb 09, 2015 $500,000
Managing Director Vici Capital Partners, LLC Concord, MA Jan 04, 2016 $480,000
Senior Managing Director MacQuarie Holdings (USA) Inc. New York, NY Mar 15, 2015 $450,000
Managing Director, Client Portfolio Manager Jpmorgan Chase & Co. New York, NY Nov 14, 2016 $450,000
Senior Managing Director MacQuarie Holdings (USA) Inc. Houston, TX Jan 08, 2016 $450,000
Managing Director, Internal Audit Early Stage Solutions LLC (Aka David Landau & ASOC Fairfield, NJ Dec 16, 2016 $245,500
Managing Director/Marketing-Americas Global Paper Solutions, Inc. Atlanta, GA Sep 09, 2015 $245,000
Managing Director Deluxe Media Creative Services, Inc. Santa Monica, CA Oct 20, 2015 $245,000 -
$255,000
Managing Director EPI-Use America, Inc. Atlanta, GA May 01, 2016 $244,691
Managing Director TSAR USA LLC New York, NY Aug 19, 2016 $240,005
Managing Director, MCO Sic Consulting, LLC South Riding, VA Mar 19, 2015 $240,000
Managing Director, Latam Markets Dinosaur Securities LLC New York, NY Sep 15, 2015 $240,000
Managing Director KPMG LLP Dallas, TX Sep 18, 2015 $235,000 -
$515,000
Managing Director of Washington DC Office Propeople Inc. Washington, DC May 07, 2016 $178,755
Managing Director Sierra Capital LLC New York, NY Jun 22, 2016 $178,235
Managing Director Geneva Global Inc. Wayne, PA Jul 28, 2016 $177,674
Senior Managing Director and Fund Manager MGM Innova Capital LLC Miami, FL May 10, 2016 $175,038
Managing Director (Real Estate Market Analyst) Taurus Investment Holdings, LLC Boston, MA Jun 09, 2016 $175,000
Managing Directior-Emea Scaled Agile, Inc. Boulder, CO Mar 22, 2016 $175,000
Managing Director RQ Media Group, Inc. Los Angeles, CA Mar 14, 2016 $175,000
Managing Director, Executive Recruiter Jpmorgan Chase & Co. New York, NY Jan 01, 2015 $175,000 -
$300,000

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Top Skills for A Managing Director

  1. Business Development
  2. Financial Services
  3. Sales Strategies
You can check out examples of real life uses of top skills on resumes here:
  • Directed portfolio business development for commercial and investment banking products in 12 countries, operating actively with global product specialists.
  • Formed company to provide financial services including consulting, marketing and client services for asset management including alternative investments.
  • Determined marketing and sales strategies for expansion into European channels of distribution.
  • Negotiated and supervised domestic and international agency relations to optimize performance and ensure compliance with worldwide partner agreements.
  • Evaluated and valued portfolios of derivatives, structured securities and financial products.

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Top 10 Best States for Managing Directors

  1. New York
  2. Rhode Island
  3. Delaware
  4. Connecticut
  5. South Dakota
  6. Maryland
  7. Nevada
  8. Colorado
  9. Michigan
  10. District of Columbia
  • (2,846 jobs)
  • (147 jobs)
  • (155 jobs)
  • (485 jobs)
  • (61 jobs)
  • (625 jobs)
  • (208 jobs)
  • (674 jobs)
  • (522 jobs)
  • (438 jobs)

Top Managing Director Employers

Jobs From Top Managing Director Employers

Managing Director Videos

Career Advice on becoming a Managing Director by Stephen P (Full Version)

Career Advice on becoming a Managing Director by Nick H (Highlights)

Career Advice on becoming a Managing Director by Paul T (Highlights)

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