Managing Director Job Description: Top Duties and Qualifications

A Managing Director, or Chief Executive creates plans and policies that help a company achieve its objectives. Their duties include developing business strategies, advising the board of Directors and implementing business plans to accomplish organisational goals.

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Managing Director duties and responsibilities

A Managing Director is responsible for the overall performance of a company’s business. Their main duties include:

  • Developing and implementing the company’s business strategies
  • Creating, executing and monitoring the performance of comprehensive business plans
  • Establishing internal company policies, procedures and legal protocols
  • Overseeing the investments, business ventures and financial stability of the company
  • Overseeing employment, professional development and employee performance activities
  • Establishing long-lasting relationships with shareholders, partners, local authorities and regulators
  • Creating a company culture and monitoring its adoption
  • Representing the company at public events and attending conferences
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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. 

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Managing Director job description FAQs

What qualities make a good Managing Director?

Visionary leadership and the ability to motivate employees are essential qualities of successful Managing Directors. The best Managing Directors can forecast the prospects of their business. They have a comprehensive understanding of business operations and can coordinate the activities of multidisciplinary teams. Managing Directors must also be adept at identifying the weaknesses and strengths of their teams and can delegate authority effectively. They also need to have strong presentation skills. Managing Directors must be active listeners and strong negotiators.

How can you make your Managing Director job description stand out?

To create an effective Managing Director job description, state the specific short and long-term goals and objectives of the role. Discuss the specific personality traits and skills sets the ideal candidate should possess, such as entrepreneurial energy, business acumen and autonomy. Describe the exact job duties and responsibilities of the role, such as managing strategic partners in a new market or developing a customer-focused company culture. Highlight the experience and education requirements of the position, the salary and employment benefits. 

What is the difference between a Managing Director and a Chief Executive Officer?

The major difference between a Managing Director and a Chief Executive Officer is that Managing Directors oversee the daily management of the company. However, a Chief Executive Officer supervises the strategic planning of the company. The Managing Director usually reports to the Chief Executive Officer.

Who reports to a Managing Director?

Senior-level executives such as the Chief Operating Officer, Chief Financial Officer, heads of departments and other Directors report to the Managing Director.

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