JOB INSIGHTS
Managing Director
LAST UPDATED 21 Jul 2022
670 active jobs

The role of managing directors today

 

Managing directors are increasingly dynamic, in that they are responsible for numerous roles, including company growth and profitability, expansion, and overall innovation. It is a senior and leadership role that frequently collaborates with other executive management, such as the CEO of a business. They mainly observe daily operations and review performance of internal functions.

In managing business operations, managing directors often work closely alongside department managers and review specific reports that detail the performance of various processes. Generally, this job in Malta or elsewhere is responsible for company planning, directing, and supervisory tasks for teams and management. They work to continuously improve business growth by strategising diverse developments and policy amendments.

 

Similar job titles

 

Whilst the demand for managing directors is steadily increasing—as organisations are constantly on the lookout to improve their business operations, there are similar job titles that may confuse readers as to what the managing director really does. Similar, but unrelated job titles include:

  • CEO: officially the highest-ranking job in Malta or elsewhere, CEOs typically focus their role alongside a board of directors and other c-suite executives. Managing directors on the other hand report directly to the CEO.
  • Executive director: executive directors develop several business initiatives and programmes alongside a board of directors, whereas managing directors are able to implement these. In terms of hierarchy, the managing director job is typically higher than the executive director.

With the above in mind, it’s worth distinguishing between similar job titles in order to better understand and differentiate between these. When applying for on-site or remote jobs in these areas, you’ll be able to clearly determine what role you are looking to pursue a career in.

 

Duties and responsibilities of managing directors

 

Managing directors combine their various interpersonal skills with leadership responsibilities in overseeing and supervising diverse internal processes. With this in mind, managing directors are able to effectively develop strategies and monitor progress over time. Whilst their specific duties and responsibilities will differ depending on the organisation’s size and industry, commonalities between them include:

  • Organise company budgets and resources,
  • Construct various company plans that align with goals and objectives,
  • Work with researchers to look for ways to promote company growth,
  • Stay up-to-date with workplace trends and competitive analyses,
  • Build and maintain positive rapport with various clients and stakeholders,
  • Encourage training opportunities for teams and community engagement facilities,
  • Ensure business procedures comply with legal frameworks and similar regulations,
  • Monitor the progress of the company generally, and
  • Report any findings to the CEO and board of directors.

Overall, the above illustrates what it takes to pursue a career as a managing director. Such a job in Malta or elsewhere can be highly dynamic, for these individuals work with numerous personnel to ensure smooth business operations. Their role is integral within organisations and the demand for talent in this area is increasing, especially as organisations adopt novel technologies and means to conduct everyday tasks.

 

Salary expectations 

 

The demand for managing directors is rapidly increasing, leading the career with fast-paced growth capabilities alongside impressive salary raises. The Castille Salary Survey is based on the average gross basic salary ranges we have seen offered in the local market over the last 12 months. This survey is updated quarterly, remaining representative of current market trends.  

For a global perspective, it is worth keeping in mind that sources vary and are subject to change with time. Considering these variances, salaries for managing director jobs consistently reflect an average salary ranging from $65,000 to $150,000 a year. These numbers vary according to level of experience, specialisation, and other associated living costs. 

 

Education and qualifications of managing directors

 

Like many on-site or remote jobs, managing directors are expected to possess some qualifications to successfully undertake their role. They typically own a bachelor’s degree in business administration, management, economics, or similar disciplines. Some individuals also pursue a master’s degree for a chosen area of specialisation. Managing directors demonstrate extensive work experience, especially in areas related to operations, technical proficiency, among others.

 

Trending technologies and skill sets 

 

As a collaborative job, it’s no wonder that managing directors gain their skills in ones such as communication and strategic planning. In working with various office functions, other trending technologies and skill sets include:

  • Leadership: managing directors provide guidance in business planning and evaluate decision-making related to strategies that ensure company growth, alongside supervising teams and departments to reach goals.
  • Communication: managing directors communicate and collaborate with internal and external parties of a business. Communication skills are vital to ensure employees, stakeholders, and other senior management members understand the reasoning involved with certain business decisions.
  • Strategic thinking: with the authority to implement novel policies, managing directors must uphold a strategic mindset to ensure business growth. Strategic thinking skills works closely along decision-making skills, as these individuals must have the confidence to make certain business decisions.

The above illustrates the general skills of such a job that is focused around supporting business professionals whilst ensuring internal structures operate well. They understand current business objectives and help amend these during shifting workplace trends. 

 

Career prospects as a managing director

 

Managing directors typically work in various office environments, including a work from home job. They collaborate with diverse personnel frequently and facilitate internal and external communications. The consistent use of valuable hard and soft skills employed by the managing director is transferable across organisations, meaning these individuals are able to work in diverse workplace settings.

For jobseekers interested in pursuing a career path as a managing director, individuals should work to gain valuable work experience in any preferred industry. Applicants must consider their area of specialisation thoughtfully and apply for jobs that are relevant. Managing directors can continue to improve their strategic and soft skills through independent learning and keeping up with workplace affairs.

 

Begin your managing director career today with Castille 

 

Now that you’ve critically assessed what working as a managing director is about and whether it is right for you, you are able to kickstart your career in this ever-growing field. As technology and the workforce continues to rapidly advance, the role of a managing director remains a career suitable for the long-haul.

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