How to hire a managing director

How to hire a managing director, step by step

Here's a step-by-step managing director hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a managing director job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new managing director
• Step 8: Go through the hiring process checklist

What does a managing director do?

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1. Identify your hiring needs

   First, determine the employments status of the managing director you need to hire. Certain managing director roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   You should also consider the ideal background you'd like them a managing director 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 managing director that fits the bill.

   Here's a comparison of managing director salaries for various roles:

   Type of Managing Director	Description	Hourly rate
   Managing Director	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.	$34-112
   Division Vice President	Division Vice Presidents are company executives that oversee a particular department or division. They are often employed in companies with a varied product line or wide geographical reach, thus needing divisions to streamline processes... Show more	$50-115
   Director Of Operations And Finance	A director of operations and finance is in charge of overseeing and spearheading business and financial operations, ensuring efficiency and smooth workflow. Their responsibilities revolve around performing research and analysis to identify the best practices to optimize operations, coordinating with different departments to gather data, conducting research and analysis to identify new business and investment opportunities, and monitoring the progress of various projects and programs... Show more	$37-87

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Healthcare
   • Portfolio
   • Business Development
   • Oversight
   • Project Management
   • Customer Service
   • Financial Services
   • Client Relationships
   • Direct Reports
   • Real Estate
   • Account Management
   • Process Improvement
   • Risk Management
   • Human Resources

   Check all skills

   Responsibilities:

   • Create and manage the social media presence via a festival page on Facebook.
   • Manage all consulting resources and have overall P/L responsibilities for the Atlanta office.
   • Manage the lessee and lessor relationships regarding exchange seat leases with major markets, such as NYSE, AMEX, CBOE.
   • Manage denials and expedite managed care appeals (reimbursement reconsideration).
   • Manage payroll processing for thousands of industrial temporary workers and bill respective clients.
   • Manage the Ketera SaaS relationship for IBM with engagement development and profitability responsibilities.

   More managing director duties

3. Make a budget

   Including a salary range in the managing director job description is a good way to get more applicants. A managing director 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 managing director in Iowa may be lower than in New York, and an entry-level engineer typically earns less than a senior-level managing director. Additionally, a managing director with lots of experience in the field may command a higher salary as a result.

   Average managing director salary

   $129,690yearly

   $62.35 hourly rate

   ---

   Entry-level managing director salary

   $72,000 yearly salary

   Updated December 5, 2025

   Average managing director salary by state

   Rank	State	Avg. salary	Hourly rate
   1	New York	$184,800	$89
   2	Connecticut	$163,617	$79
   3	District of Columbia	$157,328	$76
   4	New Jersey	$156,922	$75
   5	Massachusetts	$150,294	$72
   6	California	$143,005	$69
   7	Virginia	$138,368	$67
   8	North Carolina	$136,419	$66
   9	Maryland	$130,386	$63
   10	Colorado	$126,758	$61
   11	Ohio	$126,336	$61
   12	Washington	$126,084	$61
   13	Illinois	$124,032	$60
   14	Pennsylvania	$120,959	$58
   15	Texas	$120,844	$58
   16	Maine	$120,442	$58
   17	Nevada	$118,364	$57
   18	Georgia	$111,800	$54
   19	Minnesota	$108,888	$52
   20	Oregon	$107,968	$52

   Average managing director salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Paul, Weiss, Rifkind, Wharton & Garrison	$337,423	$162.22
   2	Russell Reynolds Associates	$294,116	$141.40
   3	The Citadel	$283,620	$136.36	5
   4	Citi	$279,761	$134.50	286
   5	Sumitomo Mitsui Financial Group	$279,572	$134.41	1
   6	Barclays	$279,346	$134.30	17
   7	Deutsche Bank	$277,204	$133.27	158
   8	Sagent Advisors	$277,135	$133.24
   9	Genentech	$274,680	$132.06	31
   10	Goldman Sachs	$274,338	$131.89	37
   11	The Carlyle Group	$273,691	$131.58	5
   12	BNP Paribas	$273,528	$131.50	17
   13	CFA Institute	$273,014	$131.26	3
   14	Capgemini	$270,245	$129.93	13
   15	University of Maryland, Baltimore	$269,364	$129.50	7
   16	Wells Capital Management	$268,994	$129.32
   17	L.E.K. Consulting	$268,031	$128.86
   18	BBDO Detroit	$267,235	$128.48
   19	Credit Suisse	$266,816	$128.28
   20	State Street	$264,192	$127.02	161

4. Writing a managing director job description

   A managing director 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 managing director job description:

   Managing director job description example

   ARE YOU A CURRENT US FOODS EMPLOYEE? PLEASE APPLY DIRECTLY THROUGH OUR INTERNAL WORKDAY CAREER SITE.
   
   Join Our Community of Food People!
   
   The CHEF'STORE Director of Planning & Inventory Management will work closely with the Vice President of Merchandising to implement inventory replenishment strategies to achieve sales, turn, and return-on-investment goals. Will work closely with Finance and Merchandising Leadership to accurately plan and forecast business performance. The Director analyzes the business and makes strategic recommendations on optimizing replenishment and inventory flow. The Director partners with multiple cross-functional teams and senior leadership team. The Director and Inventory Management team coordinate activities throughout the entire replenishment lifecycle (forecasting, sourcing, procurement, inventory management, product
   liquidation/retirement,
   etc) and across multiple functional areas (including 3rd parties). The Director works closely with CHEF'STORE Merchandisers, Supply Chain and Vendors to identify, navigate, and solve supplier inventory issues
   
   This position has been segmented as blended meaning the work is a combination of onsite in Rosemont, IL or Portland, OR and remote/virtual as defined by the role segmentation.
   
   ESSENTIAL DUTIES AND RESPONSIBILITIES• Create and execute inventory management and product flow strategies to optimize supply chain and 3rd party relationships.• Lead team to analyze and adjust forecasts based on product movement, seasonality, market trends, and promotional activity; and is responsible for ensuring product availability by identifying and resolving potential stock issues.• Partner with supply chain team and 3PL to identify best practices/methods of inventory product flow• Develop sourcing scenarios, negotiate costs with vendors, and assess financial impacts to determine best sourcing option to satisfy demand while minimizing spoilage, product costs and transportation fees. Identify opportunities to expand sourcing options based on vendor and category knowledge and collaborate with finance team as needed. Implement sourcing changes as needed.• Works closely with Finance and Merchandising Leadership to accurately plan and forecast business performance• Collaborate with process improvement team to develop, coordinate, and improve best practices across all of CHEF'STORE.• Act as point of contact for replenishment & purchasing related projects• Identify opportunities to leverage existing USF Replenishment & Supply Chain systems, tools and expertise.• Develop and measure replenishment and inventory key performance indicators for CHEF'STORESUPERVISION• Lead team of Inventory Management AnalystsRELATIONSHIPS• Internal: CHEF'STORE Resources (Managers, Department Leads, Merchandising, Systems Integration, Finance, and Marketing), Division Operations, USF Replenishment Process and Strategy Teams, RSC Buyers, Category Management• External: Vendors, 3rd party carriers, and product shippers, Market/Industry sources, consultants, and outside vendors QUALIFICATIONSEducation/Training: Bachelor's degree in Business, Supply Chain, Finance, or related field required. Master's degree preferred.Related Experience:• Ten or more years of professional experience in merchandising, supply chain, inventory management and/or finance.• Five or more years of management experience.• Prior experience with supply chain or inventory management• Prior experience with wholesale foodservice or retail highly desired.Knowledge/Skills/Abilities:• Strong financial and business acumen.• Strong problem solving, quantitative and analytical abilities.• Strong communication skills and experience influencing people across all levels or an organization.• Demonstrated excellence in people and talent development.• Adaptable leader who can navigate the organization through complex and diverse situations, comfortable with ambiguity.• Proficiency required in the use of Microsoft Office especially Microsoft Excel, Word, and OutlookPHYSICAL JOB REQUIREMENTS• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Individual will need to speak, hear, see, sit, or stand as needed. The incumbent will be required to perform computer keyboarding activities. The position requirements may also include occasional lifting items that weigh up to 50 pounds for products, files and computer printouts.• Position may require some travel.
   
   #LI-JC1
   
   ***EOE Race/Color/Religion/Sex/Sexual Orientation/Gender Identity/National Origin/Protected Veteran/Disability Status***

   Copy this example

   

5. Post your job

   To find managing directors for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any managing directors they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level managing directors with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   Post your job online:

   • Post your managing director job on Zippia to find and recruit managing director candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   To successfully recruit managing directors, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.

   It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new managing director

   Once you've decided on a perfect managing director candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.

   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.

   Once that's done, you can draft an onboarding schedule for the new managing director. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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