Everyone knows what a CEO is. But what about the other people who help a company operate successfully?
The group of top executives in a company are collectively known as the c-suite, hence the “chief” in front of the title. These individuals are very experienced and have typically achieved high amounts of success in their careers. The c-suite usually consists of the Chief Executive Officer (CEO), Chief Operating Officer (COO), and Chief Financial Officer (CFO), among other roles.
The Chief Executive Officer is the highest-ranking employee in any company or organization. The CEO’s main job is to manage the company’s long-term strategy and ensure the company is reaching its goals. CEOs usually also have a seat on the company’s board of directors. According to salary.com, the median pay for a CEO is $805,200.
The Chief Operating Officer is usually the second-highest ranking employee in any company or organization. The COO’s main job is to manage the company’s daily operations and implement the CEO’s strategy. Essentially, the CEO decides what to do and the COO determines how it gets done. According to salary.com, the median pay for a COO is $469,500.
The Chief Financial Officer is another key role in the c-suite. The CFO’s main job is to strategically manage the company or organization’s financial resources. CFOs have a lot of responsibility for a company’s financial performance, including revenue generation and profitability. According to salary.com, the median pay for a CFO is $419,100.
The CEO, COO, and CFO are the main c-suite roles, but there are other roles including Chief Marketing Officer, Chief Legal Officer, and Chief Human Resources Officer. Becoming a c-suite executive indicates that an individual has achieved high amounts of success in their career!