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CEO vs CGO: Salary, Career Path, Roles, Skills

In recent years, a new role has emerged in the C-suite: the Chief Growth Officer (CGO). The basic job responsibility of a CGO is to systematically work on the company’s growth, which is very similar to the job responsibility of a CGO. This has raised some questions about how the CGO differs from the traditional CEO, what their career paths look like, and how their roles and salaries compare. Let us explore the career paths, roles, and salaries of CEO vs CGO.

Career Path – CEO vs CGO

When comparing the career paths of CEO vs CGO, you will notice that the path to becoming a CEO typically involves a combination of education and experience. Many CEOs have advanced degrees, such as an MBA, and have worked their way up through various positions in a company. They start as entry-level employees, worked their way up to middle management positions, and then progressed to executive positions. Along the way, they gain experience in multiple areas, including finance, marketing, and operations.

On the other hand, the path to becoming a CGO is less defined since it is a comparatively new position. While some CGOs have followed a similar career path to CEOs, others have come from different backgrounds, such as sales or marketing. Many CGOs have experience in strategy development and execution and have worked in growth-focused roles throughout their careers.

Role of CEO vs CGO

The CEO’s role is to set the company’s overall direction. They set the company’s vision, mission, and strategic goals and ensure that the company is headed in the right direction. The CEO is also responsible for managing the company’s finances, including budgets and investments, and for ensuring that the company is compliant with all legal and regulatory requirements.

The CGO’s role, on the other hand, is to drive growth within the company. They work closely with the CEO and other executives to develop and execute growth strategies and are responsible for identifying new revenue streams and expanding the company’s customer base. The CGO is also responsible for ensuring that the company’s marketing and sales efforts are aligned with its growth goals.

Salary – CEO vs CGO

The salary for a CEO varies widely depending on the size of the company and the industry in which it operates. According to data from Salary.com, the average Chief Executive Officer salary in the United States is $812,010 as of January 26, 2023. However, this can range from as low as $613,763 per year for CEOs of small nonprofits to as high as $1,046,244 per year for CEOs of large, publicly-traded companies.

The salary for a CGO is also quite dependent on the size of the company and the industry. According to data from Glassdoor.com, the average salary for a CGO in the United States is $126,197 per year. However, this can range from around $95,000 per year for CGOs at small startups to as high as $173,000 per year for CGOs at large, well-established companies.

Skills – CEO vs CGO

The skills required for both CEO and CGO are quite similar, but the level of excellence required is different. You can understand this difference from the table given below. 

Skill

CGO

CEO

Leadership Strong Excellent
Communication Excellent Excellent
Strategic thinking Excellent Excellent
Financial acumen Basic Strong
Marketing Strong Basic
Operations Basic Strong
Industry knowledge Good Excellent
Problem-solving Excellent Excellent
Creativity Excellent Good
Customer understanding Excellent Basic
Regulatory compliance Basic Strong
Employee management Basic (depends on the company size) Excellent
Risk management Basic Strong

It’s important to note that this table is a generalization and that the specific skills required for a CGO or CEO may vary depending on the company, industry, and other factors

Additional Education 

The skills required for both roles are fairly similar; hence, the educational programs you can take are also similar. Here are some programs that would help a person seeking any one of the roles. 

Berkeley Executive Program in Management (Berkeley EPM) 

The Berkeley Executive Program in Management (Berkeley EPM) is a general management program that prepares you for the next level of leadership. This program is created in such a way that it helps transform proven leaders into global executives ready to lead the charge. The Berkeley Executive Program in Management encourages its participants to reflect, enhance strategic thinking, and develop authentic leadership. It is designed to create an immersive, relevant, and dynamic learning experience for senior executives, ready for the next level of the leadership challenge. It includes modules on advanced management competencies, leading innovative change, etc., which are a must for a person in C-level positions, to ensure the growth of the company.

MIT Professional Education Technology Leader ship Program (TLP) 

This is a multi-modular program delivered by MIT faculty on campus and live virtually and geared towards the development needs of the next generation of technology CEOs, CTOs, CIOs, and emerging leaders. The program is designed for technology leaders and experienced practitioners from large corporations as well as startups—innovation-oriented firms that are focusing on leveraging emerging digital technologies to remain relevant and competitive in the marketplace. After completing TLP, you will be part of a cohort of global leaders and practitioners. You will also become an integral part of the global MIT Professional Education network and will be considered an alumni of TLP as well as MIT Professional Education.

UCLA Post Graduate Program in Management for Executives (UCLA PGPX) 

It is an extensive general management program offered by the UCLA Anderson School of Management, one of the world’s top business schools. It is a part-time program with a modular format that provides great flexibility for busy professionals, while the UCLA faculty and industry leaders ensure that the program covers all aspects of best-in-class management education expected from a highly respected and globally renowned institution. The UCLA PGPX will put you on the map of global leadership with a combination of strategies, skills, and acumen that will stretch your thinking and hone your abilities as a leader and manager capable of achieving remarkable growth in your business. This program has been designed to expose the participants to management and business leadership essentials in an extensive general management curriculum that is designed to be experiential in learning and applied in focus. 

UCLA PGPX

Chicago Booth Accelerated Development Program (ADP)

The Chicago Booth ADP is a rigorous learning journey across 8 modules spread over 9 months and gives you access to the latest management thinking and tools. It is taught by an award-winning faculty at the Chicago Booth School of Business and accomplished senior business leaders. It creates an amazing opportunity to build a strong personal brand and competitively position yourself and your organization. ADP actively engages you in a collaborative learning environment with accomplished peers in . The Chicago Booth Accelerated Development Program is designed for the global executive with a focus on delivering impact and leveraging the significant history of the Accelerated Development Program delivered across the globe. The program is tailored for the busy schedules of senior professionals and is blended in design, with academic on-campus modules and off-campus experiences with online learning and live interactions to complement the on-campus experiences. You will build a global community of like-minded leaders and will become part of the Global ADP Network for life.

Conclusion

In conclusion, while the CEO and CGO roles have some similarities, they are positions with distinct responsibilities. The main difference is that CEOs are responsible for the overall direction of the company, while CGOs are focused on driving growth.

A chief growth officer (CGO) is someone who strategizes for company’s growth, in terms of revenue and customer growth. A CGO’s role is to collaborate, measure, and provide support for growth initiatives, to reshape the organization they work in, in order to stay ahead of consumer needs.

The main focus of both the roles CGO and CMO is company’s growth but with the difference of CGO being focused on overall company’s growth including optimizing operations, increasing sales, etc. On the other hand a CMO focuses more on the marketing efforts of the company to increase growth.

The average Chief Executive Officer salary in the United States is $812,010 as of January 26, 2023, according to Salary.com.

The CEO is hired by the board of directors but often the final decision on operational aspects of the company. To prepare for decision making in the company, you can opt of an executive education program such as Chicago Booth Accelerated Development Program (ADP).

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