Employment change. Employment of top executives—including chief executives and general and operations managers—is expected to experience little to no change from 2008 to 2018. However, because these workers are essential to running companies and organizations, projected employment of top executives will vary by industry and will generally reflect the growth or decline of that industry. For example, job growth is expected in the fast-growing health services industry, while employment declines for top executives are projected for many manufacturing industries.
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Employment of top executives also will be affected by the amount of consolidation occurring in a particular industry, because some management jobs typically are lost after a merger with another company. As a business grows, the number of top executives changes less than the number of employees. Therefore, top executives are not expected to experience as much employment growth as workers in the occupations they oversee.
Job prospects. Keen competition is expected for top executive positions because the prestige and high pay attract a substantial number of qualified applicants. Because this is a large occupation, numerous openings will occur each year as executives transfer to other positions, start their own businesses, or retire. However, many executives who leave their jobs transfer to other executive positions, a pattern that limits the number of job openings for new entrants to the occupation.
Experienced managers whose accomplishments reflect strong leadership
qualities and the ability to improve the efficiency or competitive position of
an organization will have the best opportunities. In an increasingly global
economy, experience in international economics, marketing, and information
systems, as well as knowledge of several languages also may be beneficial.
Source: Bureau of Labor
Statistics, U.S. Department of Labor, Occupational Outlook
Handbook, 2010-11 Edition