An executive manager is someone who is in charge of every department within a company. Executive managers work in practically every industry and must be well-rounded and capable of handling many duties. At the very least, they must hire managers who specialise in the various aspects of running the business--such as marketing or sales managers. Executive managers are typically among the highest earners in the country.
Executive managers keep a close eye on a company's finances, coming up with new ways to generate income, as they are responsible for the bottom line. They interview and hire lower-level managers and make sure all employees understand company policy and guidelines, as well as its overall mission. Executive managers often act as the face of their organisation, taking the blame when things go wrong and receiving much of the credit when things go right. They are typically hired by an executive board. On top of everything else, executive managers make sure morale stays high and employees work as a team.
Executive managers must be expert leaders who are confident, organised and driven. They need to have a firm understanding of finances, as well as other important aspects of running a business, such as marketing, sales and even warehousing. They should be able to effectively communicate the company's purpose to both employees and customers. Executive managers should be assertive, professional, analytical and accomplished problem solvers.
Executive managers usually have to spend years working in other management positions before being given control of a company. Most have at least a bachelor's degree, with many possessing a master's degree or even doctorate. Areas of study for an aspiring executive manager typically focus on the type of industry in which he works, along with basic subjects such as marketing, administration, business, finances and communications.
Executive managers hold high-profile positions and rarely have any reason to leave beyond retirement. That is a big reason why opportunities for top executives such as executive managers are likely to experience little or no change during the next decade, according to the U.S. Bureau of Labor Statistics (BLS). The BLS also reported that more than 1.7 million workers held jobs as executive managers in May 2008.
Executive managers are almost always among the highest earners in the country (although much depends on industry). According to PayScale, the median annual salary of executive managers in 2008 was £59,520. Highest earners belonged to the computer systems design industry, with a median salary of more than £86,450 per year.