This means that employees within the organization and consumers or the media alike will look to the CEO to represent the organization. Some of the CEO’s outward-facing responsibilities include speaking at conferences, addressing the public on public forums, and participating in community events, for example. That said, you may be surprised to learn that you can also be a CEO or COO within elementary and secondary schools as this is the industry that employs the second-highest number of executives. This is followed by those who are employed by state government, computer-related services, and, finally, consulting services. This highlights your ability to work in many different industries within one of these two roles.

CEO vs COO

A board of directors (BOD) is responsible for overseeing the entire company’s performance and holding the CEO accountable. Despite the CEO holding the most senior position in the organization, they still need to be accountable to the board. CEOs must be able to make informed decisions that shape the future of the organization based on company metrics and performance. While lower-level managers are often responsible for overseeing or planning day-to-day operations, CEOs need to shape these actions with a strategic long-term plan. CEOs should not be short-sighted and should instead lay the groundwork for a successful future that will be sustained by the organization. The Chief Executive Officer (CEO) is the highest-ranking executive in a company entrusted with the overarching strategic direction and vision.

• However, this is rare in larger organizations where the responsibilities of each role are more extensive.
• This is dependent on the size and nature of the company and its relationship with the public.
• The Chief Executive Officer or CEO has a unique set of roles to play and responsibilities to fulfil in the organization, that can’t be delegated to the subordinate staff.
• In companies where the culture is not part of their primary responsibilities, the COO is like any other leader and is expected to uphold the culture and be an example for the rest of the employees.
• Many people are still confused about the differences between the CEO and COO.

Duke University’s Fuqua School of Business

• Various factors, including company size, industry, performance metrics, and economic conditions, often influence CEO salaries.
• In terms of accountability, given that the CEO is in charge of the company’s management, whether the company succeeds or fails will fall upon the hands of the CEO.
• Ultimately, a successful organization requires a cohesive leadership team that collaborates effectively, leveraging the strengths of both COOs and CEOs to achieve shared goals and objectives.
• The role and responsibilities of a Chief Executive Officer (CEO) extend far beyond day-to-day operations, encompassing strategic planning, vision setting, and leadership at the highest level.

As the top leader, the CEO holds ultimate responsibility for the company’s performance, growth, and success. The COO often works closely with other executive team members to implement strategies, manage resources effectively, and drive overall business performance. They play a critical role in translating the CEO’s vision into actionable plans and ensuring the smooth execution of those plans across all departments and functions within the company. Regular discussions align their strategies with company goals, enabling necessary adjustments in response to market dynamics.

The University of Chicago Booth School of Business

According to an Indeed report from  January 30, 2023, the average base CEO salary is $128,740 per year in the US. The CFO is hired by the CEO and works one-level under them Programming language implementation along with the COO and other C-suite positions. Both COOs and CEOs are tasked with high-level responsibilities, which has a great impact on the company’ success and failure. Now, this write-up will help you in understanding the difference between COO and CEO.

Differences Between CEOs & Other C-Level Executives

According to the Economic Policy Institute, the average annual salary of a CEO amounts to $14 million, while the annual average wage of a COO amounts to $308,253. The compensation package for a Chief Operating Officer (COO) is significant, reflecting their pivotal role within organizations. COOs in the United States command an estimated total pay of $307,600 annually, with an average base salary of $176,263 per year. The challenges faced by a COO are varied since there is no one role the COO must Chief Executive Officer of an AI startup job fulfill.

He/She is responsible for making corporate decisions, formulating and implementing long term plans and strategies, managing operations and resources. He/She acts as a communication link amidst the company’s board and operations. The CEO is the highest-ranking c-suite executive and, therefore, is tasked with making major decisions about a company’s growth and future direction. This often involves following a specific strategy based on the goals of the company as a whole.