What does a CEO do?

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#1562410 30-May-2016 15:55

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...

off topic but

Up to 6 weeks Christmas and 6 weeks during the year (3 lots of 2). If at a private school you get an extra 1 week.

That being said of those 6 weeks during the year at least half is taken up by marking/planning/school trips/conferences/professional development.

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BlinkyBill

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#1562459 30-May-2016 16:37

mattwnz:
BlinkyBill: 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.

I presume you do it for the remuneration. 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.

Well, I work in return for remuneration (that's what remuneration means). I didn't set out to run a company, but have ended up there. I enjoy consulting (my business is IT consulting), and developing solutions our clients - doing things or solving problems that we have the expertise to do. I also enjoy sourcing those problems for our consultants to solve; my team enjoys doing that. I have the problem of staying in business, there are lots of consulting organisations out there and it is quite competitive. Every day I think about the fact that my business feeds 115 families, including my own. I feel that responsibility and it is one of the factors I consider when deciding what I/we should do.

But I have to say I read some of the comments in this thread with dismay. There is not a single CEO that I know who do the job to have expensive lunches, or go to meetings and not do 'real work', or any of the other disparaging comments listed above. Most CEO's do their best. A good proportion of CEO's aren't as good as they think they are, same as lots of people at many levels in an organisation aren't as good as they think they are. CEO's can be arrogant, higher proportion than the majority of the workforce. CEO's have problems with staff at least as much as staff have problems with CEO's.

CEO's have extraordinary tensions in terms of balancing all sides of a decision. Would I lay off 10% of my business to save the jobs of the other 90%? Probably, but that is a tough and agonising decision. What about salary cuts? Or no rem changes this year? I have had to lay people off in a previous business. No CEO likes to make these kinds of decisions and plenty cowardly outsource them to a hit squad to communicate/execute. But there is a bottom-line imperative in business to stay in business, or in Government to stay in budget. When deciding on bonuses, do the best performers get them, or do I spread what I have across everyone? I prefer to reward the best performers, but you should hear the comments from those who aren't rewarded. Not that anyone ever says anything to my face, by the way.

So, the OP asked a genuine question and many of the flippant and ignorant responses are extremely indicative of many of the issues CEO's have. Thankfully, through careful recruitment, I have fewer of these than many.

Fred99

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#1563353 31-May-2016 22:25

MikeB4:
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

I thought yours - with broad generalisations that they deserve outrageous remuneration packages - was an order of magnitude sillier. (IOW - you deserved it)

Fred99

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#1563360 31-May-2016 23:03

BlinkyBill:
So, the OP asked a genuine question and many of the flippant and ignorant responses are extremely indicative of many of the issues CEO's have. Thankfully, through careful recruitment, I have fewer of these than many.

That statement bothers me a bit. Sorry about that dude. While "recruitment" is part of an issue, if that's "top of the mind" response to internal criticism (or you feel obliged to defend it from what others have said here - probably me too lol) - then you've probably got other more serious issues. Those issues may easily kill your business too.

BlinkyBill

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#1563410 1-Jun-2016 04:02

Fred99:
BlinkyBill:
So, the OP asked a genuine question and many of the flippant and ignorant responses are extremely indicative of many of the issues CEO's have. Thankfully, through careful recruitment, I have fewer of these than many.

That statement bothers me a bit. Sorry about that dude. While "recruitment" is part of an issue, if that's "top of the mind" response to internal criticism (or you feel obliged to defend it from what others have said here - probably me too lol) - then you've probably got other more serious issues. Those issues may easily kill your business too.

I recruit talented people who like to deliver. They also bring up problems when there are any, and with suggested solutions, having thought them through. I hire as much for attitude as for ability, and I don't fill roles. I would rather leave a vacancy open than employ someone with the wrong attitude. I don't get this right all the time, but mostly. And I don't hire alone, my team is also involved, so candidates get interviewed by their peers as well as their managers. That's what I mean by careful recruitment.

I have 115 staff including me and (I just looked) 8 people on the waiting list.

RUKI

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#1563572 1-Jun-2016 11:21

BlinkyBill: .....I recruit talented people . ....I have 115 staff including me and (I just looked) 8 people on the waiting list.

Putting Analyst hat on I am thinking out loudly:

Kudos to a CEO who finds time, and takes personal approach to "mine" Geekzone in a search for a potential candidates for their compnay and potential business opportunities... Nothing wrong with that, it is an assumption only.

Otherwise one would think - CEO has nothing else to do as they have delegated all important tasks to very qualified people and can just relax and engage with IT/Telco/Energy/DIY Geeks for fun and networking. Great! An opportunity to others to meet and greet CEO in person - a rare opportunity for many I might say... (I've used to open doors with ease into any CEO ...)

I personally do not know any CEO who has not delegated those two important tasks to HR and Marketing respectively. Which would make sense with the 115 stuff around.

However there is well known feature some few managers have - they can't and/or not willing to delegate and would like to do everything they possibly can themselves.

In companies with that kind of management people may not feel like their potential has been fully utilised, and they are restricted in making their own decisions. But some people just do not want to make their own decisions and wish to be guided... I've met people like all as described above... Not a problem. Nothing wrong with that.

Point being - one CEOs may be top-grade who can delegate and have only top-of-the-cream stuff, and have plenty or time for fun, and another one can't delegate, their stuff are robots and CEO has to do all the job themselve. In the first case -> top money are well deserved, in the second -> top money are hard-earned. Resume: if you are CEO, regardless of your management style - money are always good :-)

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pjay

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#1563590 1-Jun-2016 12:00

BlinkyBill: A CEO implements the strategy of a Board of Directors of a company, or the Shareholding Ministers in the case of a Government Agency. Stereotypically this means delivering goods or services in such a way that the cost/benefit ratio is optimised.

Earlier comments in this thread are breathtakingly ignorant.

Too true - the CEO prepares budgets and general company activity and direction, for approval by the Board of Directors - usually annually. He/she has little or no discretion to vary this - especially the budget - without prior and specific approval from the BOD.

In many ways it is a very limited role, however the close personal relationship with Board members makes it a very cosy one - the grumbling about high salaries etc should really be directed at the Board who approve and sign off CEO contracts. Many CEO's are very skilled negotiators and simply do a good deal for themselves, and why not!

CEO's are the vassals of the Board -

MikeAqua

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#1563632 1-Jun-2016 13:10

I'm the CEO of a small company. I'm responsible for administering the board and its advisory committees, helping devise and implementing strategy, stakeholder relations, financial, contracting, IP management and marketing.

I probably don't really deserve the title, but it opens doors, which enables me to connect with the right people to do my job effectively.

I travel a lot, and I schmooze stakeholders with food and wine. This isn't like going out with friends. Everything you say/do matters so there is minimal relaxation involved. Ultimately breaking bread with stakeholders is important in landing contracts and maintaining professional relationships. It's money well spent.

Overall my job is hard work, it can be stressful/difficult and while the recompense is generous it isn't huge. I'm in the top decile of salary earners in NZ (based on NZ Statistics data) Is that justified?

Well ... . my highest relevant qualification is somewhere between the 96th and 99th percentile. A key skill for my role is written and verbal comprehension and I consistently land in the top decile when formally assessed. I'm not as good with numbers. I have a great person doing the detailed finances, I just do the high level. I had 15 years of relevant experience when I started the role.

From those perspectives I think my salary is fair.

When I was recruited I suspect there would have been rival candidates who asked for a lower salary. For whatever reason they were not selected.

Mike

Fred99

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#1563757 1-Jun-2016 16:33

MikeAqua:

Overall my job is hard work, it can be stressful/difficult and while the recompense is generous it isn't huge. I'm in the top decile of salary earners in NZ (based on NZ Statistics data) Is that justified?

Heh heh. Top decile of wage/salary earners in NZ is actually only about + $70k PA.

MikeB4

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#1563759 1-Jun-2016 16:36

Fred99:

MikeAqua:

Overall my job is hard work, it can be stressful/difficult and while the recompense is generous it isn't huge. I'm in the top decile of salary earners in NZ (based on NZ Statistics data) Is that justified?

Heh heh. Top decile of wage/salary earners in NZ is actually only about + $70k PA.

Considerably higher than that and not just CEO's

Here is a crazy notion, lets give peace a chance.

Fred99

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#1563776 1-Jun-2016 18:00

MikeB4:

Fred99:

MikeAqua:

Overall my job is hard work, it can be stressful/difficult and while the recompense is generous it isn't huge. I'm in the top decile of salary earners in NZ (based on NZ Statistics data) Is that justified?

Heh heh. Top decile of wage/salary earners in NZ is actually only about + $70k PA.

Considerably higher than that and not just CEO's

You should research that. Stats department uses quintiles rather than decile bands.

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MikeB4

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#1563807 1-Jun-2016 18:51

Don't need to. One look at our bank statement answers the question.

Here is a crazy notion, lets give peace a chance.

Fred99

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#1563840 1-Jun-2016 19:24

MikeB4: Don't need to. One look at our bank statement answers the question.

Well good on you.

I'm not sure how that relates to what I said - about the cut-off point for the top decile of wage and salary earners in NZ.

MikeAqua

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#1564292 2-Jun-2016 14:13

Top decile (in Stats published material) is $70k to the absolute top of the salary range (which I am nowhere near).

I only mentioned the decile thing to uses as benchmark for other job relevant indicators.

Fred99:

Heh heh. Top decile of wage/salary earners in NZ is actually only about + $70k PA.

Mike

RUKI

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#1565116 3-Jun-2016 15:29

MikeAqua:

Top decile (in Stats published material) is $70k to the absolute top of the salary range (which I am nowhere near).

Stats is like average body temperature in the hospital - one has fever and another one is shivering. But on average it is 36.6 C :-)

I've seen today a contract (non-IT, non-Telco, non-Civil, can't disclose for a reason) where trainee technician was offered $21-28 per hour permanent role with jump up to $50-60 per hour permanent after obtaining required qualification in NZ - takes 2 years and company sponsors study as well. Job comes with occupational hazards hence the rem..

CEO of that company surely got way above what they pay their techs... > $60 x 8 x 52 =

$70K p.a. is $10K below what is paid for a role which requires not a lot of brains and has no direct reports in a government owned establishment

$120-150K+ p.a. is what Middle Management (Project/Product/Sales etc) role could be entitled to in NZ

$250K++ is for Senior Management role (Branch Director; Company Director)

Much more than $250K +++ no limit (could be $4-7M) one should be looking at for a CEO position

That is my understanding of NZ reality.

At the end of the day it is not what you are paid - it is what you have left after all bills/debts have been paid.

Suggest reading: "The Millionaire Next Door: The Surprising Secrets of America's Wealthy"

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