Introduction to the Executive Director job:
With businesses growing in strength and number, every company aims at making their mark and keep running in the market. On the other hand, with immense competition and new companies entering the market, a company always strives to outsmart the other companies in terms of marketing strategies and business growth. Thus, every company requires a role that can supervise the managers’ work and strategize business growth. The Executive Director job is the role that administers the planning and development of a plan to fulfill goals set by the board of directors. The Executive director also sketches strategies to promote the business of the organization. Managing teams and training of managers are also part of the Executive Director duties.
Skills required for an Executive Director job:
Being in a critical role, Executive Director requires to have the following skillset:
- Thorough business understanding
- Developing and implementing plans
- Analytical and strategic
- Organizational skills
- Leading teams
- Communication skills, especially public speaking
- Financial knowledge
Executive Director duties
The main duties that are assigned to an Executive Director job are:
- Understanding legal guidelines and policies that a company must adhere to and also ensure the practice of the same
- Guiding managers into creating trained and efficient teams
- Delivering public speeches to strengthen public relations and the company’s profile
- Reviewing reports for financial and non-financial transactions of the company
- Sketching plans and strategies to promote the company’s goals and mission
- Oversee the investments made and fundraising participation of the company
- Maintaining strong relations with stakeholders, partners, etc.
- Creating business plans to adhere to the goals set for the company
- Managing and solving the critical administrative crisis and taking needful actions to counter such situations.
What are the requirements of an Executive Director job?
As an Executive Director manages and supervises some of the critical functionalities of a company and is responsible for training and managing teams, they are expected to have the expertise of certain functionalities. Therefore, some of the required skills and qualifications are:
Masters degree in Business Administration or fields related to it
Experience as an Executive Director or any other higher managerial positions
Public speaking skills: An executive director requires extensive public speaking, be it for the subordinates or the board of directors, partners, stakeholders, etc.
Written communication skills: The Executive Director needs to draft informative and sharp written communications such as emails etc.
Detailed knowledge of Management best practices: A director is always responsible for analyzing and planning out the most efficient ways to achieve the desired profit or revenue through planning and training of resources.
Knowledge of governance policies: While ensuring efficient working, it is also of utmost priority to ensure security and governance are adhered to while producing the work results. None of the employees should disobey or practice any act that does not fall under the Corporate Governance policies.
Knowledge and experience of developing financial strategies: Financial strategies help the organization manage expenses and revenue while planning ways to achieve the desired outcomes in the most efficient ways.
Leadership skills: A director leads other managers and their teams to work towards their set mission and understand how to achieve it. This requires immense leadership skills to manage and inspire such a huge staff to work towards a common goal.
Innovative and analytical thinking: Thinking out-of-the-box to improve the company’s performance always helps the company gain the upper hand at growing in a competitive market.
Job brief for an Executive Director job
Our company is looking for an experienced Executive Director who will be the face of the company. The role will entitle you to oversee all critical functionalities of the company to meet the goals effectively and efficiently. You will be responsible for training and managing the company’s staff to align them with its mission and achieve it through the best strategies. In addition, you will be working closely with the board of directors, stakeholders, and the public directly as the company’s face.
An exceptional Executive Director motivates and drives its staff to accomplish the company’s mission. Through great communication skills and leadership power, they put together a team of efficient workers who work in the best possible way to fulfill the organization’s requirements.
You will be influencing and guiding to bring the company its desired results and help the company reach great heights of success.
What is the average salary of an Executive Director job?
The salary offered for the Executive Director job may vary based on company, location, and nature of work. Although, Executive Director falls under the advanced level of employment and thus falls under advanced/expert level salary slabs. Let us look into some:
The average salary offered to the role, Executive Director, in India is 50 lakhs per annum.
Salary based on location:
The average salary offered for the role of Executive director in Kolkata is 22 lakhs per annum
Bangalore offers a yearly average salary of 61 lakhs
Hyderabad offers an average yearly salary of 38 lakhs
Mumbai offers an average salary of 61 lakhs per annum
New Delhi offers an average salary of approximately 42 lakhs per annum
Salary based on the company:
The average salary offered to an Executive Director in JP Morgan is 71.84 lakhs per annum
The average salary offered in EY is 67.48 lakhs per annum
IBM offers an average salary of 99.34 lakhs per annum for the role
Standard Chartered offers an average salary of 1.13 crores per annum
The government of India offers a monthly average salary of 2.08 lakhs
National Thermal Power offers an average salary ranging between 36 lakhs per annum and 43 lakhs per annum
UBS offers an approximate salary of 68.95 lakhs per annum
Why should you pursue the Executive Director job?
The job role of Executive Director is a highly critical and prestigious one for any company, irrespective of the organization’s strength. If you believe in having such experience and expertise to be the company’s face and take on the business competitions outside, then this job role will suit you perfectly. Being an Executive director will provide you with the position that sketches all possible efficient strategies and plans to keep the business moving and rising through the ever-growing market. Understanding corporate finance and managing efficient ways of achieving the company’s mission is one of the Executive Director’s responsibilities. Anyone with the required educational qualifications and experience in Management can pursue to be an Executive Director. This job role provides ample exposure to present the company’s missions and ideologies with the public and also work closely with stakeholders, clients, etc. Working in this role will help you create the best of teams ]who are at par with the company’s mission, to reach and produce the desired results. If you have good leadership skills, communication skills, and organization skills, this job role is ideal.
Thus, as the name suggests, an executive director will direct the organization with guidance and leadership. They will plan to build the most efficient working team possible with the existing resources and infrastructure. In addition, they will oversee organizational operations and keep the employees in sync with the company’s motto and ideologies.