Although education and training requirements vary widely by position and industry, many top executives have at least a bachelor's degree and a considerable amount of work experience.
Many top executives have a bachelor's or master's degree in business administration or in an area related to their field of work. Top executives in the public sector often have a degree in business administration, public administration, law, or the liberal arts. Top executives of large corporations often have a master's degree in business administration (MBA).
College presidents and school superintendents are typically required to have a master's degree, although a doctorate is often preferred.
Although many mayors, governors, or other public sector executives have at least a bachelor's degree, these positions typically do not have any specific education requirements.
Work Experience in a Related Occupation
Many top executives advance within their own firm, moving up from lower level managerial or supervisory positions. However, other companies may prefer to hire qualified candidates from outside their organization. Top executives who are promoted from lower level positions may be able to substitute experience for education to move up in the company. For example, in industries such as retail trade or transportation, workers without a college degree may work their way up to higher levels within the company to become executives or general managers.
Chief executives typically need extensive managerial experience. Executives are also expected to have experience in the organization's area of specialty. Most general and operations managers hired from outside an organization need lower level supervisory or management experience in a related field.
Some general managers advance to higher level managerial or executive positions. Company training programs, executive development programs, and certification can often benefit managers or executives hoping to advance.
Communication skills. Top executives must be able to communicate clearly and persuasively. They must effectively discuss issues and negotiate with others, direct subordinates, and explain their policies and decisions to those within and outside the organization.
Decisionmaking skills. Top executives need decisionmaking skills when setting policies and managing an organization. They must assess different options and choose the best course of action, often daily.
Leadership skills. Top executives must be able to lead an organization successfully by coordinating policies, people, and resources.
Management skills. Top executives must shape and direct the operations of an organization. For example, they must manage business plans, employees, and budgets.
Problem-solving skills. Top executives need to identify and resolve issues within an organization. They must be able to recognize shortcomings and effectively carry out solutions.
Time-management skills. Top executives do many tasks at the same time, typically under their own direction, to ensure that their work gets done and that they meet their goals.