What does a CEO do?

Forums › Off topic › What does a CEO do?

1 | 2 | 3 | 4 | 5 | 6

649 posts

Ultimate Geek
+1 received by user: 198

#1561828 29-May-2016 18:15

How many suitably qualified people would take such a role in NZ if it was not paying at or near market rates? At that level, global mobility is extremely high which means NZ is competing for qualified talent on a global scale.

daringpeter

49 posts

Geek
+1 received by user: 9

#1561837 29-May-2016 18:57

And, I have to smile, wryly, when people criticise the pay scales of many CEOs. I think, what about people who build up businesses from a small capital base, and sell them for huge sums? Think, TradeMe, Flip... many others, not to mention eg, the dairy farmers who start off as sharemilkers, work hard for many years, knee deep in it, and onsell with a substantial profit...they worked hard for it?? But the CEO of Spark doesn't??

Who cares.

Fred99

13684 posts

Uber Geek
+1 received by user: 10018

#1561854 29-May-2016 19:15

Oh goodness. How many CEOs have actually experienced building up businesses from a small base? The exceptions do not make a rule.

lokhor

2858 posts

Uber Geek
+1 received by user: 171

Trusted

#1561857 29-May-2016 19:26

JAYJAY:

Talk to to corporate
Approve memos
Lead a workshop
Remember birthdays
Direct workflow
My own bathroom
Micromanage
Promote Synergy
At least, that's my understanding according to a song about being a boss.

Don't forget

Sh*t on deborah's desk

All comments are my own opinion, and not that of my employer unless explicitly stated.

Batman

Mad Scientist
29827 posts

Uber Geek
+1 received by user: 6089

Trusted

Lifetime subscriber

#1561901 29-May-2016 21:15

I had the impression the board (directors) pays the CEO a lot so that the directors can give themselves a pay rise in similar proportion. ie all a merry-go-round

MikeB4

18464 posts

Uber Geek
+1 received by user: 12124

ID Verified

Trusted

Subscriber

#1561918 29-May-2016 21:23

joker97:
I had the impression the board (directors) pays the CEO a lot so that the directors can give themselves a pay rise in similar proportion. ie all a merry-go-round

No, they do it so that silly statements can be made on web forums about CEOs

Fred99

13684 posts

Uber Geek
+1 received by user: 10018

#1561947 29-May-2016 22:53

MikeB4:
joker97:

I had the impression the board (directors) pays the CEO a lot so that the directors can give themselves a pay rise in similar proportion. ie all a merry-go-round

No, they do it so that silly statements can be made on web forums about CEOs

Which given the exorbitant packages offered to some CEOs is thoroughly understandable, as the common people have mocked aristocrats since Adam was a cowboy, and usually for very good reason.

Wise

Send money globally for less with Wise - one free transfer up to NZ$900 (affiliate link).

mattwnz

20259 posts

Uber Geek
+1 received by user: 4524

#1561956 29-May-2016 23:43

SJB:

A lot of CEO's salaries are performance based so there will be a base salary and bonuses based on perhaps share price. Part of the salary may also be in the form of shares or pension contributions.

Of course the problem with bonuses is they only go one way - to the recipient. They never flow back to the company when the ship starts to sink.

CEO's salaries in NZ are low compared to many other countries.

I don't believe local council ones are performance based. Perhaps they get bonus, but I beleive their salaries are set by the remuneration authority, which I presume will be different from private companies. This is probably one of the big differences between private companies, vs local councils. The other thing is that a CEO of a tiny council doesn't really get paid a big percentage less than large councils, even though they may be managing the spending of multiples of more money, and a significantly larger staff and divisions. I believe the CEO of the smaller councils earn around 250k p/a, but the CEO of the larger ones earns around 400k + p/a. Do they both do the same amount of work, and have the same amount of stress I wonder? I would have thought it would be a better life to be the CEO of the smaller one. I wonder if there have been any studies of CEO life expectancies, due to the stress they have, and whether it is worth that money. What do people do with that sort of money?

MikeB4

18464 posts

Uber Geek
+1 received by user: 12124

ID Verified

Trusted

Subscriber

#1561972 30-May-2016 07:19

Fred99:
MikeB4:
joker97:

I had the impression the board (directors) pays the CEO a lot so that the directors can give themselves a pay rise in similar proportion. ie all a merry-go-round

No, they do it so that silly statements can be made on web forums about CEOs

Which given the exorbitant packages offered to some CEOs is thoroughly understandable, as the common people have mocked aristocrats since Adam was a cowboy, and usually for very good reason.

Thanks for that brilliant example

Geektastic

17960 posts

Uber Geek
+1 received by user: 8377

Trusted

Lifetime subscriber

#1562041 30-May-2016 09:34

blackjack17:
Geektastic:

blackjack17:

MikeB4: Summed up easily, they earn every dollar they are paid and more. They have huge responsibilities that don't end when they go home. They don't work 40 hours they work 70, 80, 90+ hours per week.

ahh so they are like teachers (well except for the huge salary)

And the 16 weeks a year holiday...

12-13 weeks with 80,000 cap. I don't know where people get that 16 weeks from?

That being said the jobs aren't comparable. I was just being checky as the description did also describe a teachers role

4 weeks at Christmas, 4 weeks at Easter and 8 weeks in the summer. Maybe they do not do that here. Still, in a world where most people get 5 weeks, 12-13 is still more than double...

MikeB4

18464 posts

Uber Geek
+1 received by user: 12124

ID Verified

Trusted

Subscriber

#1562045 30-May-2016 09:38

Geektastic:

blackjack17:
Geektastic:

blackjack17:

MikeB4: Summed up easily, they earn every dollar they are paid and more. They have huge responsibilities that don't end when they go home. They don't work 40 hours they work 70, 80, 90+ hours per week.

ahh so they are like teachers (well except for the huge salary)

And the 16 weeks a year holiday...

12-13 weeks with 80,000 cap. I don't know where people get that 16 weeks from?

That being said the jobs aren't comparable. I was just being checky as the description did also describe a teachers role

4 weeks at Christmas, 4 weeks at Easter and 8 weeks in the summer. Maybe they do not do that here. Still, in a world where most people get 5 weeks, 12-13 is still more than double...

To be fair just because the schools are not in session during breaks does not mean teachers are on holiday.

BlinkyBill

1443 posts

Uber Geek
+1 received by user: 1100
Inactive user

#1562350 30-May-2016 14:08

I've got a question. How many people on this forum have jobs with organisations that have no CEO?

CEO's are 100% responsible for your employment if you work for an organisation of some kind. I feel it is intensely hypocritical of anyone to be cynical about what CEO's do, and yet continue to work for that person.

It's ok to have a negative view about a specific individual, but in general CEO's do their best, and most have skills that are applicable. It's sickening to me that some people have such small minds. Yes - I am a CEO, but sometimes I wonder why I bother.

RUKI

1402 posts

Uber Geek
+1 received by user: 415

#1562388 30-May-2016 15:21

BlinkyBill: .... Yes - I am a CEO, but sometimes I wonder why I bother.

I once saw the girl changed her Linkedin status after she quit from being a data entry level clerk to CEO of her own home based company :-)

For the last few decades I was working for corporates - in the past: AT&T - Lucent, GTS Group, Telstra, Telecom etc - all are Public. Went through numerous corporate management trainings. Was conducting Audits, Change Management, Contract Management etc. Working with CEOs directly on many occasions including business trips together, driving me back home by CEO after party, etc

From my experience and observations and briefly looking at replies would like to point at one thing missing:

Huge benefits some CEO receive come with huge responsibilities.

There are several things if went wrong could easily put CEO behind the bars as CEO holds PERSONAL responsibility for many things, and can not delegate those risks down the chain, just to mention a few:

1. The Sarbanes-Oxley Act

http://www.soxlaw.com/introduction.htm

2. Health and Safety

The unique feature of a person who would accept the role of a CEO in a Public Company is to have guts to accept those risks they are very much aware off... And that decision is not easily made...

mattwnz

20259 posts

Uber Geek
+1 received by user: 4524

#1562394 30-May-2016 15:29

RUKI:

BlinkyBill: .... Yes - I am a CEO, but sometimes I wonder why I bother.

I once saw the girl changed her Linkedin status after she quit from being a data entry level clerk to CEO of her own home based company :-)

For the last few decades I was working for corporates - in the past: AT&T - Lucent, GTS Group, Telstra, Telecom etc - all are Public. Went through numerous corporate management trainings. Was conducting Audits, Change Management, Contract Management etc. Working with CEOs directly on many occasions including business trips together, driving me back home by CEO after party, etc

From my experience and observations and briefly looking at replies would like to point at one thing missing:

Huge benefits some CEO receive come with huge responsibilities.

There are several things if went wrong could easily put CEO behind the bars as CEO holds PERSONAL responsibility for many things, and can not delegate those risks down the chain, just to mention a few:

1. The Sarbanes-Oxley Act

http://www.soxlaw.com/introduction.htm

2. Health and Safety

The unique feature of a person who would accept the role of a CEO in a Public Company is to have guts to accept those risks they are very much aware off... And that decision is not easily made...

Do they apply in NZ, and wouldn't they have insurance to cover those risks? If not people use trusts or put things under the partners name etc. We also have ACC in NZ which overall has worked well, and prevented people being sued for injuries etc, but it looks like things are slowly being shifted back onto the people.

mattwnz

20259 posts

Uber Geek
+1 received by user: 4524

#1562396 30-May-2016 15:33

BlinkyBill:

It's ok to have a negative view about a specific individual, but in general CEO's do their best, and most have skills that are applicable. It's sickening to me that some people have such small minds. Yes - I am a CEO, but sometimes I wonder why I bother.

I presume you do it for the great remuneration the job provides. There will also be far worse jobs out there. My father was a CEO of a small organisation in Wellington, about 3 year prior to retirement, and he actually enjoyed it more than any other job he did. He didn't work long hours either. He found working as a manager under a CEO, and dealing with staff directly far more stressful. Wasn't earning all that much though as the CEO, probably about $120k, which is small compared to these days.

1 | 2 | 3 | 4 | 5 | 6