The typical first step toward a career as a CEO is to obtain a bachelor's degree. Except for those who launch their own companies, the prospects for becoming a CEO without at least a bachelor's degree are virtually nonexistent. The tasks essential to successfully running a company and overseeing its growth require the development and sharpening of certain skills and competencies that are fundamentally shaped at the collegiate level.
While it's possible for students to start this path by getting a bachelor's in law or liberal arts, most interested in becoming a CEO pursue a business-related degree, such as in business administration. The coursework for these degrees teach students about the fundamental areas of business, such as operations, management, economics, and finance. They can also cultivate an understanding of the ethical and legal environments that typically surround the workings of any business.
Those intent on a future career as a CEO may be interested in pursuing a more specific leadership degree, such as a bachelor's in organizational leadership. Students can start developing the skills a business leader needs with this degree and prepare to guide others through the ins and outs of corporate change. The coursework combines business studies with psychology courses, a mix that encourages students to develop their interpersonal skills. This expertise can make it easier for an aspiring CEO to tap into the human side of business, which translates to stronger leadership skills.
The position of CEO must be worked up to on a professional level. For those who have earned a bachelor's degree, building the on-the-job experience that's crucial for corporate ladder-climbing usually starts with an entry-level position.
Entry-level positions for college graduates are generally in lower-level management or supervisory roles. After experience is gained at this level, candidates can advance to general manager positions and gain additional experience before finally advancing to the executive realm.
This climb does not happen overnight. A CEO typically requires several years of professional experience. The competencies honed throughout this lengthy journey typically relate to management skills, best business practices, and leadership — essential qualities that help build a solid foundation for CEO success.
It may be possible for people to make this climb by changing companies, as some corporations may be inclined to hire qualified candidates outside of their organization. However, many CEOs advance from within a company's ranks, as that ensures the position is filled by someone familiar with the company environment and business structure.
While gaining on-the-job experience is a long process that requires several years of cultivation, the route to CEO consideration can potentially be shortened by earning a Master's in Business Administration (MBA). Earning this advanced degree prepares students for business success by allowing them to take a deep dive into the workings of all the elements of any business, from accounting to human resources management. The advanced skills developed prepares students to understand corporate functionality from a top-level perspective, which can make it possible for them to make critical decisions as strong leaders.
For instance, those aspiring to reach the level of CEO may be interested in pursuing an MBA that focuses on running a business, such as an MBA in General Management. This type of concentration immerses students in topics fundamental to business leadership, such as ethics, corporate strategies, project management, and organizational behavior.
Earning an advanced degree like an MBA does not sidestep the need to build years of on-the-job experience. However, the degree is linked to success. Roughly 40 percent of S&P CEOs hold an MBA in any given year, and 25 to 30 percent hold some sort of advanced degree. An MBA can make graduates more attractive candidates to fill executive positions such as CEO, as it can demonstrate a high level of corporate-related competency to a prospective employer.
