What does a Managing Director do?

Companies employ Managing Directors to provide leadership and management skills to ensure the success of their business. Managing Directors oversee their employees’ work and business operations to grow the organisation. They develop and implement strategic plans and company policies. Other duties include working with stakeholders and helping to advance the company’s interests with external parties. Managing Directors work in and out of the office for about 37 to 40 hours per week.

Managing Director skills and qualifications

A successful Managing Director candidate will have various prerequisite skills and qualifications needed to perform duties effectively. These include: 

• Proven record of success in a senior management role
• In-depth knowledge of the company’s industry and ability to identify and attract talented employees
• Extensive knowledge of financial and business management techniques
• Commercial awareness and deep understanding of the factors that influence the company’s business
• Ability to balance conflicting interests
• Strong qualitative and quantitative analytical skills
• Proficiency in developing and implementing strategic and business plans
• Ability to perform in high-pressure situations

Managing Director experience requirements

A background in business management, strategic planning, budgeting and human resources management is vital for Managing Directors. Previous experience in marketing, sales, product development and policy formulation is also essential for Managing Director roles. Some organisations prefer candidates with extensive senior-level managerial experience in their industry. Most employers require Managing Director candidates to have at least 10 years of combined industry and managerial experience. Some companies may consider people with less than 10 years of experience if the candidate’s educational qualifications and professional achievements meet the requirements of their business and position.

Managing Director education and training requirements

Managing Director candidates typically have a degree in areas such as finance, business administration, law and business management. Some employers require a postgraduate degree, such as an MBA or an industry-specific degree, before employing a Managing Director candidate. Employers also recruit Managing Directors through a Senior Leader Master’s Degree in Management Apprenticeship. Some employers can also consider senior management level experience and commercial expertise instead of educational qualifications when employing a Managing Director.

Managing Director salary expectations

According to Indeed Salaries, the average salary for Managing Director in the UK is £78,038 per year. The actual pay may depend on the employer, the location, industry, level of experience, education and the exact job duties and responsibilities.

Job description samples for similar positions

Here are job description samples for similar positions if you are not looking to recruit a Managing Director:

• Manager
• Management Assistant