The CEO is the ultimate big gun that is the highest-ranking executive. By the way, the abbreviation means Chief Executive Officer not Cheat Every One! So, the CEOs are considered the highly paid executives in any organization.
Funny: Cretin Extremely Overpaid is CEO
According to research, in the year of 2015, U.S. CEOs had earned 335 times the pay of the normal day to day worker. The statistics for other developed countries are pretty striking but lower than that of the United States. Let’s know about the pay of CEOs in the United Kingdom. In the U.K. Chief Executive Officers earn 130 times more.
Example: If a worker is earning $100 a day then you can say that the pay of CEO in that firm based in the US could be 33500 $ (100×335.) This is huge!
Is there any law to make firms reveal the pay of CEOs? Yes, you might have heard, the Dodd–Frank Act is forcing U.S. firms to disclose this pay ratio from the current year (2017). Similar acts are being made in the UK as well.
How to become the CEO?
There are more than one answers for this question. If you are asking in the sense of formal education then, many CEOs have bachelor’s (BBA) or master’s degrees in business (MBA) or simply business administration.
Is there any other way? Yes, you start working on an idea. Get some good experience of the day to day operations for a few years! You are all set to call yourself the CEO. (Of course, the founder as well if you are the sole proprietor.)
Informative: company’s first CEO is often the founder.
Skills Set for CEO:
A typical CEO of a company would probably be a person with the
- Good Experience (with Formal Education)
- Clear Vision and Leadership Qualities
- Great Inspection and Management Skills
- And Of course, some Business Knowledge!
Challenge: the hardest part of the job is understanding your employees and being their best friend!
Is there any certification or licensure requirement for becoming a CEO? No, absolutely not! This is the post within an organization, and the government or a country court has nothing to do with it.
Why are the firms not disclosing the Pay for CEO?
Just because the pay for CEO is huge and clearly unfair! They wouldn’t disclose it because they’re afraid that they would be forced to lower it. Lowering the CEO pay may have a negative impact on the performance of the big dudes.
The Heights Paid CEOs:
The list of highly paid executives is the following. Table Credits: aflcio.org
Do you have anything to add to the article? Let us know in the comments!