Do you dream of visiting, if not occupying, the ‘C-Suite,’ where the executives who run the company sit and meet? Rising to executive roles of CEO, COO, and CFO generally requires that you get an advanced degree, usually a Master of Business Administration (MBA). If your career trajectory is aimed at occupying one of the C-suite offices, your first step should be to consider an MBA or other master’s degree in business.
What Are the C-Level Positions?
C-suite executives are corporate leaders who make the critical operations, human resources, marketing, IT, financial, and other decisions for a company. These top executives might arrive at the executive level from a number of career paths. Some work their way up through the ranks within a particular organization, while others may transfer from other businesses or industries. Either way, it’s rare for a CEO to not hold an advanced degree.
According to the US Bureau of Labor Statistics (BLS), the median annual salary of a top executive is $100,090. However, that number varies dramatically depending on the size of the company, the person’s experience, and the compensation package they are able to negotiate. Many top executives are also awarded bonuses and stock options for meeting company goals.
So, who are those people working in the C-suite? Below are a few C-suite positions and insight on how to get there.
CEO, Chief Executive Officer
The Chief Executive Officer (CEO) of a company oversees the company’s operations. Depending on the company, this could be manufacturing, sales, marketing or, most likely, all of the above. The CEO is generally the top executive of the company and reports to the Board of Directors and (indirectly) the company’s shareholders. The CEO is often the ‘face’ of the company, appearing on television, in advertisements, and quoted in newspapers and magazines.
COO, Chief Operating Officer
In some organizations, the Chief Operating Officer (COO) may be synonymous with the CEO title. However, when the two positions are separate, the roles of a COO may vary widely depending on the organization. Traditionally, the COO often oversees the administrative and operational functions of the business, and complements the CEO’s position. Where an organization has both a CEO and a COO, , the COO typically reports to the CEO.
CFO, Chief Financial Officer
The Chief Financial Officer (CFO) of a company is responsible for managing the business’s finances. This leader is usually the third in command behind the CEO and COO. Indeed.com defines the CFO’s job duties as ‘monitoring cash flow, meeting with the CEO to discuss the best practices for company finances and coming up with strategic plans to improve their company’s overall financial health.’ In publicly-held companies, the CFO is also ultimately responsible for making sure that SEC filings are made correctly and on time, as well as preparing the annual budget and shareholder’s report.
CTO, Chief Technology Officer
The Chief Technology Officer is charged with all things that are IT-related. Depending on the company, this could range from ensuring the automated manufacturing lines are efficient and up-to-date, to ensuring the company has the computer, software, and security technology needed to succeed in the marketplace. The CTO is also in charge of a company’s research and development.
CKO, Chief Knowledge Officer
A Chief Knowledge Officer (CKO) is charged with disseminating important company information and knowledge to employees. The CKO also oversees the use of a company’s intellectual property. This might include overseeing patent applications, creating internal training programs, and promoting innovative research. However, not all companies have a CKO.
CMO, Chief Marketing Officer
The Chief Marketing Officer (CMO) oversees the company’s overall sales, advertising, and promotion strategy. These C-suite professionals oversee the company’s marketing of its products to the marketplace. According to Indeed.com, the CMO’s duties include “developing the structure of the business’s marketing department, approving marketing campaign ideas and coordinating marketing efforts with the company’s financial and branding goals.”
CHRO, Chief Human Resources Officer
The Chief Human Resources Officer (CHRO) sets personnel policies, guidelines, and procedures. The CHRO oversees the human resources department’s recruiting and hiring initiatives, talent management, and compensation areas. They might also get involved in planning for the succession of a privately-held company.
What Does C-Suite Mean?
The term C-suite refers to the highest level of management in a company, where the executives who make the most important decisions work and meet. The C-suite is also known as the executive suite, the leadership team, or the top management. The C-suite is responsible for setting the vision, strategy, and direction of the company, as well as overseeing its performance and growth. The C-suite is composed of various chief officers, each with a specific area of expertise and responsibility.
Graduate Degrees to Get You to the C-Suite
The vast majority of C-level executives have earned advanced degrees, many of them MBAs. Here are a few of the best degrees to consider pursuing as you strengthen your career trajectory towards these valued leadership positions.
MBA
A general Master of Business Administration (MBA) degree helps you develop critical thinking and analysis skills through a business administration lens to solve high-level problems and manage a high-level team of professionals. A general MBA degree is flexible and gives you the ability to pursue a career path to a variety of executive and C-level positions.
MBA – Finance
An MBA in Finance prepares students for a CFO career path. Students in this program learn to apply knowledge of financial theories and practices to solve organizational and consumer economic challenges.
MBA – Accounting
Pursuing your MBA in Accounting may also serve as another pathway to becoming a chief financial officer (CFO). Students in this program learn advanced accounting principles and techniques while exploring business concepts in management, ethics, and law — all essential concepts for a corporate executive.
MBA – Organizational Leadership
An MBA in Organizational Leadership focuses on the skills needed to effectively manage teams of people, often across departmental lines. This is great preparation for any of the C-level positions, especially the COO and CEO roles. At Johnson & Wales University, students in the MBA – Organizational Leadership degree program “obtain the necessary skills to solve problems and manage operations in the modern business world with best practices backed by academic theory.”
MBA – Human Resource Management
As the name implies, an MBA degree with a concentration in human resource management may be the right program for you if you hope to hold the CHRO position. Students in this degree program dive deeper into the realm of retention, organizational behavior, and other aspects of employee relations.
MBA – Marketing
Interested in becoming a chief marketing officer (CMO)? You may consider earning your MBA in Marketing to build upon foundational marketing knowledge. Johnson & Wales University’s MBA in Marketing provides students with knowledge about marketing strategy, brand management, leadership, and more.
MBA – Event Leadership
An MBA in Event Leadership helps students pursue a career in the event industry, where they can create and manage various kinds of events, such as corporate meetings, weddings, festivals, and conferences. Students learn how to use business skills and strategies to deliver successful and memorable events that satisfy the clients, stakeholders, and attendees. They also gain skills in event marketing, design, budgeting, risk management, and evaluation.
MBA – Hospitality
An MBA in Hospitality helps students pursue a career in the hospitality industry, where they can manage and operate hotels, resorts, restaurants, and other service-oriented businesses. Students learn how to use business skills and strategies to deliver exceptional customer service, quality, and profitability in the hospitality sector. They also gain skills in hospitality marketing, finance, operations, human resources, and innovation.
MBA – Operations and Supply Chain Management
An MBA in Operations and Supply Chain Management helps students pursue a career in overseeing the flow of goods and services from suppliers to customers. Students learn how to improve the efficiency, quality, and sustainability of operations and supply chains, as well as how to cope with the challenges and opportunities of globalization, digitalization, and innovation. They also gain skills in operations strategy, logistics, inventory management, procurement, and analytics.
MBA – Organizational Psychology
An MBA in Organizational Psychology helps students pursue a career in applying psychological theories and methods to enhance the performance, well-being, and culture of organizations and their employees. Students learn how to understand and influence human behavior in the workplace, as well as how to design and implement interventions that boost organizational effectiveness and change. They also gain skills in leadership, teamwork, motivation, communication, and diversity.
MBA – Sport Leadership
An MBA in Sport Leadership helps students pursue a career in the sport industry, where they can lead and manage sport organizations, teams, and events. Students learn how to use business and management concepts and practices to the sport context, as well as how to address the ethical, social, and environmental issues that affect the sport sector. They also gain skills in sport marketing, finance, law, governance, and innovation.
What Degree do Most CEOs Have?
There is no single degree that ensures a CEO career, but some degrees are more prevalent than others. The most common degree among CEOs is an MBA, or Master of Business Administration. This degree equips aspiring CEOs with business, management, and leadership skills. Other degrees that CEOs frequently have include PhDs in business or economics, and bachelor’s degrees in finance, business, or engineering.
Earning your MBA at Johnson & Wales University
Johnson & Wales University offers both one-year and two-year MBA degree programs. Both options may be completed either online or in person.
Both the one-year MBA and two-year MBA programs include key core classes with a 19:1 student-to-instructor ratio. Professors at JWU come from a variety of professional backgrounds, including business professionals who have themselves occupied the C suite. The programs explore executive business competencies, professional leadership and strategic and creative thinking skills, giving students the skills and information they need to pursue a variety of career paths.
Earning an online degree offers a number of benefits, especially for busy MBA students. You can do your coursework and listen to your lectures on your time, on your schedule.
Johnson & Wales University prepares students with the skills and experience employers are looking for, and that is why 95.4% of students schoolwide have a successful career outcome within six months of graduating. Our Career Outcomes rate is historically higher than the national average. In addition, the university provides placement services to help match students with meaningful careers that match a student’s career goals and career trajectory.
ABOUT JOHNSON & WALES UNIVERSITY
Johnson & Wales University offers undergraduate, graduate, and doctoral degree programs in more than 50 fields of study. Founded in 1914, Johnson & Wales has a current enrollment of around 8,000 undergraduate, graduate, and doctoral students. The university is accredited by the New England Commission of Higher Education. Financial aid is available for qualified students.
For more information about completing your degree online, complete the Request Info form, call 855-JWU-1881, or email [email protected].