What Is A C-suite Executive
A C-suite also known as chief suite is the company’s top level senior executives. These top level employees are in positions of leadership. They run large portions of the company. In fact it is common for a c-suite executive to run multiple departments.
The Average C-suite Salary
On average a c-suite executive can make from $109,000 to 300,000 a year. With positions such as CEO ( Chief Executive Officer) making $754,713 a year according to salary.com. The more responsibility and leadership needed the higher the salary. Here are examples of the range of salaries based on the position title.
Chief Executive Officer (CEO)
Median Annual Salary: $754,713
A CEO will meet with a board of directors and discuss what goals to meet and ways to carry out their strategies.
Chief Operating Officer (COO)
Median Annual Salary: $457,468
A COO will develop short and long term business models. Then they will issue their plan to management.
Chief Financial Officer (CFO)
Median Annual Salary: $363,559
The CFO is in charge of monitoring the finances of the company as well as directing the flow of funds meant to maintain operations. This means new project ventures have to be authorized by the CFO and board of directors.
Chief Information Technology Officer (CITO)
Median Annual Salary: $266,171
A CITO focuses on improving and maintaining long term goals of the organization’s information technology department.
Chief Technology Officer (CTO)
Median Annual Salary: $234,700
Similar to a CITO but a CTO works more closely with the information technology workforce.
Chief Marketing Officer (CMO)
Median Annual Salary: $230,735
The CMO responsibilities are to develop the company’s marketing plan and its implementation. They work hand and hand with the CEO and the CFO.
Chief Information Security Officer (CISO)
Median Annual Salary: $217,144
CISO position requirements consist of carrying out company security policies and strategies.
What Are The Day To Day Requirements For A C-suite Executive
C-level executives typically have a full plate of responsibilities for their day to day work schedule. They also must adapt and rise to the occasion when problems surface. It is common for them to have to learn new techniques as well. Here are some of the most known day-to-day responsibilities of a C-level executive.
- Working alongside other C-suite executives to maximize efficiency.
- Guiding large groups or employees through a workflow for projects and setting a work outline for their managers.
- Surveying a department’s performance and assigning them goals to meet.
- Being an organizer while developing strategies that will be implemented.
- Requesting a plan of action from department admins.
Sometimes the day-to-day responsibilities of a C-level executive become multifaceted. For example the duties of a CEOs include several components all designed to ensure the company’s profitability and success. A CEO will have meetings with the CFO for example to discuss financial matters and company expansion. Then request weekly updates from multiple departments to keep track of their progress. There are many evaluations throughout the year as well for each department for the CEO. If there are technological improvements that need to be made, a CEO will meet with the CTO and CITO to discuss ways to improve their effectiveness.
How Do You Become A C-suite Executive
C-level executives work hard and are in demand in their field. They have years of experience and in some cases several degrees, but there are additional ways to become a c-suite. There are certification courses you can take to add value. The goal is to make any potential employer feel confident in hiring you in a top position.
Management skills are great and there are management courses for that too. Of course experience to go along with that is well received. Each c-suite position requires different skills but they do all have one thing in common. Every leadership position needs to have the one in charge to be able to carry out their side of the business model. Even in careers such as information technology where at first it seems the only focus is on technology itself, it is also important to have leadership skills. Having skills such as that will help you keep workers on track, problem solve, and meet department deadlines.
You can also seek mentorship. A mentor can help you design a career path. Setting time aside in a busy schedule might feel daunting but if you dedicate yourself it will be worth it. A mentor can keep you on track and you will reach your goals in a timely fashion. You may be in upper management and just a step away from the c-suite level.