The Long Road To Becoming CEO

BROUGHT TO YOU BY KEYS TO THE It's hard to imagine a more ambitious career goal than CEO Corner Office becoming a CEO. Those who set their sights on the DOMO position embark on a long journey that requires equal parts education, experience and talent. While every CEO .com no doubt has his or her own story, many share similar accomplishments that have led them to their dreams. Below we explore the path one often travels to become a chief executive officer. Step1 Education OTHER: 27% MBA: 39% 97% 66% Law is the most common non- MBA graduate program studied by CEOS. In total, about 1 in 10 of S&P 500 CEOS have S&P 500 CEOS have a law of S&P 500 CEOS earn an advanced degree. earned a degree at the degree. undergraduate level. 3. THE TOP 5 MOST COMMON FIELDS OF STUDY OF S&P 500 CEOS ARE: ECONOMICS 9% ACCOUNTING 7% BUSINESS ADMINISTRATION 15% 4 ENGINEERING 20% LIBERAL ARTS 11% Step 2 Experience PRIOR EXPERIENCE OF S&P 500 CEOS: GAIN INTERNATIONAL EXPERIENCE 38% FINANCE of all S&P 500 CEOS 26% report international work experience. GAIN BOARD EXPERIENCE OPERATIONS 24% - 45% MARKETING of Fortune 500 CEOS 24% served as non-executive directors on public company boards prior to their appointment. SALES 17% BROUGHT TO YOU BY DOMO Step3 Grooming THE AVERAGE AGE OF A CEO AT TIME OF APPOINTMENT IS 50 YEARS OLD. THE FACT IS, the percent of CEOS who rise to the top within a single company is relatively small: 32% 21% Fortune 500 S&P 500 Data indicates that most CEOS spend their early careers gaining experience, settle into a company by their early- to mid-30s, and begin climbing THE AVERAGE TIME TO CEO APPOINTMENT FOR THOSE the ladder from there. WHO RISE THROUGH THE RANKS IS 16 YEARS. 77% 54% of S&P 500 CEOS are appointed internally. say they are currently grooming an executive specifically for the CEO position. WHILE SUCH ORGANIZATIONS 50% SAY THEY HAVE A STRONG HANDLE ON MORE THAN FUTURE LEADERSHIP, OTHER COMPANIES HAVE YET TO 39% 50% couldn't name a new permanent CEO if their current one became incapacitated tomorrow. At these companies, CEO candidates must find a way to stand out from the pack and convince the board of his or her qualification. SOLIDIFY A SYSTEM THAT FUNCTIONS WELL FOR THEM of companies say they have zero internal candidates. have a written document of required skills for their next CEO WHILE THE PATH TO BECOMING CEO IS DIFFERENT FOR EVERYONE, EDUCATION, EXPERIENCE AND GETTING NOTICED AS A POTENTIAL SUCCESSOR ARE THE KEYS MOST ASPIRING EXECUTIVES USE TO UNLOCK THE CORNER OFFICE. SOURCES: http://www.spencerstuart.com/research/ceo/1498/ BROUGHT TO YOU BY http://content.spencerstuart.com/sswebsite/pdf/lib/2005_CEO_Study_JS.pdf CEO DOMO http://www.forbes.com/sites/ciocentral/ 2011/12/05the-path-to-becoming-afortune-500-ceo/ http://rockcenter.stanford.edu/2010/06/16/new-ceo-and-board-research-fromheidrick- struggles-and-stanford%E2%80%99s-rock-center-reveals-serious-gapsin- .com ceo-succession-planning/ DI0000 1000000 L-----