Career Center: Chief Executive Officer – OnlineBusinessDegree.org
When Yoram Neumann began pursuing his bachelor’s degree in economics and statistics more than 40 years ago, he didn’t set out thinking he would become a CEO one day. But that’s exactly how the cards played out. Neumann, who also holds an MBA and a Ph.D. in organizational behavior/management, founded Touro University International, and currently serves as the chief executive officer of Touro University Worldwide.
“I didn’t know in which sector of the workforce I would end up, but the more I learned, the more I leaned toward the higher education sector,” Neumann said. “I’ve worked for several universities and I enjoy academia very much. Eventually, institutions began seeking my expertise to lend to their schools.”
CEOs typically provide the overall direction for their companies or organizations, including managing daily operations and creating policies.
As CEO of an online institution of higher education, Neumann said he helps make decisions about the functions of the university, anywhere from academics to financials to information technology. He also analyzes the environments of other institutions and helps find solutions and resolutions that uniquely fit his own.
A number of CEOs have a bachelor’s or master’s degree in business administration, according to the Bureau of Labor Statistics, with college presidents typically holding a doctoral degree.
“It’s important for MBA students to know the skills they acquire while pursuing their degree can be useful in a career as a CEO because being a CEO begins with skill competencies to understand all parts of an organization,” said Neumann, who also serves as professor of business administration for Touro University Worldwide.
The salary expectations of a CEO can vary significantly, depending on the industry, the size of the company, and the location. According to the BLS, the median salary for chief executives in May 2010 was $165,080.
According to the BLS, chief executives are expected to grow by 4 percent by the year 2020.
“Education is quite dominant compared to work experience in terms of giving you the tools and competencies needed to understand what’s going on,” Neumann said. “Obviously if you are moving to a high-level position, work experience counts more and more and your track record speaks for itself.”
Follow Valerie Jones on Twitter @ValerieJ_tweets