Career: Top Executives
What does it take to reach the top? Carly Fiorina knows. She was, until recently, chief executive officer (CEO) of Hewlett-Packard Company. Fiorina majored in medieval history and philosophy in college. She tried law school but hated it. Instead, she went into business and quickly became a rising star.
As Hewlett-Packard's CEO, she helped the company merge with another computer company, Compaq. Many people see this as the most successful high-tech merger in history -- and they see Fiorina as one of the brightest lights in the business world.
Top executives run businesses and other organizations. Combining knowledge of the field with business skills, they attempt to lead their organizations to success.
“I like seeing people do things they didn't think they could. Seeing people be successful, which leads to the company's success, is probably the most fun.”
Bob, Company President
Are You Ready To...?
- Decide on an organization’s philosophy and set a course for the future
- Make decisions about what to sell and whom to sell to
- Research the market
- Crunch numbers
- Attend meetings
- Make speeches
- Work long hours including evenings and weekends
- Travel a lot
- Transfer jobs several times as you climb the ladder
It Helps to Be...
Able to quickly absorb and analyze large amounts of information. Excellent leadership and communication skills will help you motivate others to follow your vision for the company. You'll also rely on your ability to know when to be flexible and when to be decisive.
Make High School Count
- Intern with or work for businesses. Learn all you can about how each department is run. Ask if the top executives would spend a few minutes talking with you about their careers.
- Take on leadership roles in student government, school clubs, and other groups.
- Start your own business. Whether you sell cookies or design websites, you'll learn a lot about running a company.
- Study a foreign language -- business is becoming more global every day.
- Sign up for business, accounting, economics, and computer classes.
- Check out an organization like Junior Achievement and learn about business from the professionals.
- Visit the website of a professional organization such as the American Management Association.
Did You Know?
- Many top executives travel more than 90 percent of the time.
Outlook
Government economists expect little change in the number of jobs for top executives between 2006 and 2016. High pay and status make these jobs very desirable, so expect tough competition. Breaking into this field is also difficult because executives who leave their jobs often take other top positions, which leaves few openings for rookies.
Job growth will vary from industry to industry. In those that provide professional, scientific, and technical services, growth should be faster than average. On the other hand, some manufacturing industries will probably lose jobs.
Compensation
Pay in this field depends on the executive's skills, the size of his or her company, and the type of industry. Executives often receive many perks (benefits) in addition to high salaries. For example, they can receive big bonuses if their companies perform well. Other perks may include spacious offices, plenty of office help, and the ability to travel worldwide at little or no personal cost.
According to the U.S. Department of Labor, the average yearly salary for chief executives was $160,440 in 2008. General and operations managers earned $107,970.
