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Managing Director

Position Overview

Managing directors are usually close to the top of the corporate ladder. They typically focus on customer retention, recruiting employees and furthering business development. Managing directors are found in most industries, if not all. They usually have several years of experience in the specific industry they are working in. They meet with other executives to oversee the operations and management of the company. Managing directors help to come up with strategies for marketing and sales for the managers to implement, managers then take that information and relay it to the workers. Some managing directors are responsible for managing all the managers/department heads and report to top executives or board of directors. Managing directors can move up the ladder into bigger companies as they gain more experience. They can also move into consulting, and potentially open their own consulting firm.

Managing Director Duties

  • Implementing new policies for the company to adhere to
  • Develop and implement strategic sales and marketing plans
  • Reporting to the board of directors
  • Analysing and forming reports from data
  • Accountable for company operations
  • Be the voice between the shareholders and board of directors
  • Attending and handling meetings
  • Developing a management team to successfully implement your strategies
  • Dealing with the press or public on behalf of the company

Typical Employers

  • Agricultural food and equipment companies
  • Manufacturing companies
  • Pharmaceutical companies
  • Businesses of all types
  • Consulting firms

Required Education and Training

Many managing directors have a degree in accounting or finance. Depending on the sector or industry, further study may be required to be competent in understanding the business and its products / services. Having an MBA strengthens your candidacy when applying for a position as a managing director. Besides getting an education, it's important to gain experience in this field of work. This position requires a wide variety of skills and experience before you can take on this role.

Key Skills and Qualities

  • Exceptional motivation skills
  • Ability to communicate effectively in writing and verbally
  • Diverse problem solving skills
  • Excellent decision making skills
  • Thorough understanding of the business and markets
  • Good understanding of finance
  • Presentation skills
  • Ability to delegate and manage a team effectively
  • Forecasting and planning
  • Highly effective leadership skills
  • Great attention to detail

Average Salary

The average salary of a managing director is roughly £72,914 annually. The salary can range from £38,595 on the low end and £121,036 on the high end. Managing directors also receive bonuses based on their performance and how the company does over the year. It is possible for the managing director to also receive a commission or shares depending on the structure of the company.