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.
How to Become a Managing Director
What is a Managing Director
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.
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.
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Managing Director Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of President you might progress to a role such as President & Chief Operating Officer eventually. Later on in your career, you could end up with the title President & Chief Operating Officer.
Managing Director Jobs You Might Like
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Average Salary for a Managing Director
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12 Managing Director Resume Examples
Build a professional managing director resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 12+ resume templates to create your managing director resume.
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Sarah Chavez Managing Director |
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Zachary Turner Managing Director Experience Managing Director2019 - Present Wells Fargo•Milwaukee, WI
General Manager2016 - 2019 Lockheed Martin•College Park, MD
Human Resources Manager2015 - 2016 Lockheed Martin•College Park, MD
Recruitment Manager2006 - 2008 Robert Half International•Washington, DC
Skills Store ManagementFinancial ModelsWorkforceFlsaRecruitment ProcessPerformance ManagementGMReal EstateLLCCompany Website Education Master's Degree Business2008 - 2009 University of Maryland - College Park•College Park, MD Bachelor's Degree Business1997 - 2000 Strayer University•Washington, DC |
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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 TemplatesAnd if you’re looking for a job, here are the five top employers hiring now:
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.
Managing Director Demographics
Managing Director Gender Distribution
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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Top Colleges for Managing Directors
1. University of Pennsylvania
Philadelphia, PA • Private
2. Northwestern University
Evanston, IL • Private
3. University of Southern California
Los Angeles, CA • Private
4. New York University
New York, NY • Private
5. Pennsylvania State University
University Park, PA • Private
6. University of Texas at Austin
Austin, TX • Private
7. SUNY at Binghamton
Vestal, NY • Private
8. Northeastern University
Boston, MA • Private
9. Bentley University
Waltham, MA • Private
10. Lehigh University
Bethlehem, PA • Private
Find the best Managing Director job for you
Managing Director Jobs You Might Like
- High Paying Managing Director Jobs - $358K and Up
- Work From Home Managing Director Jobs
- Entry Level Managing Director Jobs
- Part Time Managing Director Jobs
- Actively Hiring
- No Degree Managing Director Jobs
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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
$203,481
Avg. Salary
2. Connecticut
$196,270
Avg. Salary
3. Delaware
$181,433
Avg. Salary
How Do Managing Director Rate Their Jobs?
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
Managing Director Videos
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.