What does it take to be a ceo

1. Finding a Job
2. How To Become a CEO (With Steps, Salary, and Skills)

By Indeed Editorial Team

Published October 18, 2021

CEOs are one of the highest ranking positions in a company. If you're interested in becoming a chief executive officer (CEO), you may need a number of skills to help you perform in your role effectively. Understanding more about the requirements of this role can help you determine if it suits your interests and career goals. In this article, we explore how to become a CEO, describe what they do, explain the skills necessary in this role, and share the average salary in this position.

How to become a CEO of a company

Here are the steps you can take when learning how to become a CEO:

1. Get educated

Getting an education is the first step to become a CEO. A bachelor's degree may be sufficient, but a master's degree can help provide you with knowledge that's beneficial in the role of a CEO. You can select a degree program in your field of interest, but engineering and business degrees are two of the most preferred options. They both cover a wide range of topics with real-world applications. To help guarantee that they have the appropriate abilities, many CEOs undergo specific training programs.

Colleges provide job training for specialized occupations. College programs include IT professionals, registered nurses, and dental hygienists. Regardless of your career path, being a CEO may require an attitude of continuous learning throughout your career. Continued education may help you become an informed decision-maker as rules change and new skills emerge.

2. Seek challenging experiences

Getting real-world experience is the next step in becoming a CEO. Pursuing tasks you are unsure you're ready for can help you develop new abilities and discover new strengths. Take advantage of every opportunity to learn and advance toward your CEO aspirations. Business environments that are financially or structurally unstable may require you to use your managerial expertise. It may also broaden your knowledge base and provide an unrivaled educational opportunity. Consider how the knowledge you gain from this new opportunity can help you on your path to becoming a CEO.

3. Obtain certification

Consider pursuing additional certifications to help increase your knowledge and skills, and to build your resume. Certifications are also chances to develop your hard skills and establish yourself as an expert in your profession. Developing expertise in any sector is an asset to your professional life. It also strengthens your leadership power by helping others with your expertise and experience.

Popular certifications held by CEOs:

• Chartered Professional Accountant

• Certified Financial Advisor

• Certified Information Security Manager

3. Create your own business

Some of the most successful CEOs were founders of their businesses. Building your own company can be personally fulfilling while also teaching you a variety of valuable skills. You determine the company's culture, direction, and mission as an entrepreneur. This alternative path is also essential for demonstrating to larger organizations that you have the technical skills and leadership attributes required to run a company.

Related: How To Choose a Career Path in 10 Easy Steps

What does a CEO do?

The specific responsibilities of a CEO vary by organization, but those in this role often make corporate-level decisions about the company's direction, operations, and resources. A CEO is an organization's highest-ranking member, and they are the representative of the company and the principal point of contact between the company and the board of directors. Smaller companies' CEOs may be active in the day-to-day operations required to run the company. In both cases, the CEO affects the company's culture, vision, and goals.

Related: What Does C-Level Mean for Executives? (With Types of Roles)

Skills for CEOs

Here is a list of skills necessary to excel as a CEO:

Communication skills

The ability to communicate is essential for a CEO because they hold one of the highest positions in a company. As a company is a diversified environment of people from various backgrounds, understanding how to handle varied working and communication styles can improve overall communication across the organization and increase business success. Proper communication aids in the development of the relationships required for outstanding leadership and business success.

Ability to work well with others

A company has the best chance of progress if all of its employees work well together. The CEO distributes duties and forms teams to achieve the company's strategic objectives. Develop this ability through paying attention to others' thoughts and responding appropriately. Working successfully in a group aids in the development of long-term relationships and loyalty, both of which are essential for developing the company and achieving success.

Related: Teamwork Skills: Definition and Examples

Ability to learn from the past

Lessons learned from past mistakes can help inform future decision-making. They help enable you to make better decisions while striving toward your objectives. CEOs who learn from their mistakes can examine the links between action and results. Getting feedback from others can help you see a problem from a different perspective. Speaking with individuals who have been in similar situations can also provide you with insight into alternate options. Ask yourself the following questions to improve your ability to learn from past mistakes:

• What went wrong?

• What are the facts of the situation?

• What do the facts indicate?

Decisiveness

Decisiveness is the ability to make swift and effective decisions in certain circumstances. CEOs often handle deadlines and queries from various internal and external sources as the leader of a company. The power to make timely decisions helps to keep the company scuffle in meeting its objectives. Decisiveness is a skill that develops with time and is typically a result of confidence and experience. As you advance in your career, there may be many opportunities where you make quick and effective decisions. Expand your knowledge and confidence by exposing yourself to new opportunities to build these skills.

Accessibility

Being approachable entails being a good listener and setting aside time for others. Many companies have an "open-door" policy that enables employees to share their thoughts and concerns as they arise. CEOs can make themselves more approachable by holding informal one-on-one sessions with their employees. Adopting a coaching or mentoring leadership style may help you support your staff and address their needs while also improving your working relationships.

Problem-solving skills

Creative problem-solving is a valuable skill for every career. It is the structured approach to developing a new and unique solutions to challenges. Businesses that make innovative decisions are more likely to succeed in situations where market changes, financial issues, and leadership changes arise. CEOs who exhibit problem-solving often analyze data and check for facts. They typically work with a team to develop hypotheses, which are then tested to determine the best practical option to overcome the challenges they experience.

Related: Problem-Solving Skills: Definitions and Examples

Objectivity

Objective listeners can assess the facts of a situation without introducing personal bias. This ability is essential for problem-solving and fostering a positive workplace atmosphere. A CEO can use objective problem-solving to consider all influencing aspects and make the best option for the company's future. Objective listening helps leaders consider all elements of a story and reach a decision that promotes organizational cohesion. Consider following these steps to help improve this ability for yourself:

1. Identify your biases.

2. Determine your assumptions about the circumstance, or what you believe to be true.

3. Consider the consequences of your assumptions in a hypothetical circumstance.

4. Make a list of the advantages and disadvantages.

5. Make a decision and observe the outcome.

Related: Analytical Skills: Essential for Every Job

Action-oriented bias

Action bias is the tendency to act quickly on ideas. CEOs that have this tendency may set themselves apart by recognizing and implementing what makes an idea successful. You can improve this skill by acting fast on ideas. Consider the actions you can take to achieve your business goals and implement them. Continue to evaluate and change your decision as necessary to help ensure success.

Average salary for CEOs

The national average salary for a chief executive officer is $128,706 per year. The role of the CEO is demanding and high-pressure, but it is one with potential for high earnings. CEOs may also be eligible for attractive retirement packages, consulting engagements after retirement, and other benefits that are rarely available to other roles.

Salary figures reflect data listed on Indeed Salaries at the time of writing. Salaries may vary depending on the hiring organization and a candidate's experience, academic background, and location. Please note that none of the companies mentioned in this article are affiliated with Indeed.