What the job involves
As a managing director you will be in charge of the whole company; from day to day issues to the overall performance and direction of the company. Your responsibilities are likely to include:
- Developing strategic plans
- Controlling company finances
- Building an effective management team
- Implementing company policies
- Maintaining a dialogue between shareholders and the board
You must be able to cope with high levels of pressure and responsibility, be confident in your decision making and be assertive and fair.
It is essential that you are good at presenting, public speaking and communicating with a wide range of people. If you thrive on challenges, have a strategical mind and enjoy taking a leading role then this could be the career for you.
Working hours can be long and you could be expected to travel extensively to attend meetings and trade events as necessary. As a managing director, you will be expected to be available most of the time and this can impact on family life.
Qualifications and training
The qualifications needed to secure a managing director role will depend on the organisation and sector. It is more than likely that you will need to be educated to degree level; often in either business or finance. For some sectors you may also need to be occupationally competent i.e. a managing director position in the medical profession may require a degree in medicine.
Getting into the profession
Managing director jobs can be found advertised on online jobs boards. Appointments are often made through professional head hunters.
Salary and benefits
Due to the high levels of responsibility of this position, salaries are high; ranging from approximately £65,000 to £200,000 and beyond.
Progression opportunities between different sizes of organisation and within different sectors exist with increasing experience and proven abilities.