There is an never ending discussion on what the right level for executive compensation is. The public is sometimes shocked to learn that CEOs of very successful companies earn seven or eight digit salaries. Is this too much? The simple answer is. No. CEO jobs are one of the most competitive positions in the industry. On that level the market functions well. So, what are the talents that are required to succeed?
Successful CEOs have typically at least one of two characteristics:
a. Superior market understanding providing leadership when it comes to the development of superior products and/or services. Think Steve Jobs.
b. They have a relentless passion for execution when it comes to Marketing, Sales, Customer Acquisition and Retention. Think Steve Balmer.
It’s hard to find someone who is great in one area. It’s very difficult to find someone who excels in both. These salary levels are a function of supply and demand. Only a few can keep a multi-billion dollar empire on track.