Despite the stress and pressure in the lives of top business leaders, many young office workers aspire to run their own company. But how does one ascend the corporate ladder to success? While not every big-name CEO has formal credentials, very few people are able to make it to the top without a college education. Most CEOs get at least a bachelor’s degree in business administration or a related field in their industry. Furthermore, future CEOs improve their chances of becoming successful businessmen by using their time in college to network and develop leadership skills and work experience.
Common Degree Programs for CEOs
Many CEOs have a bachelor’s or master’s in business administration or their particular industry. While bachelor’s degrees are usually in business administration, other majors are common, such as liberal arts or public administration. Prospective CEOs should also take into account which major would be appropriate for their field of interest. A future CEO planning to work in healthcare administration should consider a bachelor’s degree in the healthcare field.
Many prospective executives choose to continue to graduate school. A Master of Business Administration (MBA) is a common degree held by top business executives. Many MBA programs are specifically designed for professionals or executives. These programs teach the communication, leadership and management skills that CEOs require to effectively provide direction for a company.
Does Pedigree Matter?
Traditionally, degrees from top institutions such as Ivy League schools are viewed more favorably because of the competitiveness and rigor associated with the schools’ programs. This is still true today according to US News, with Harvard awarding degrees to 21 out of 100 CEOs in a study of the CEOs of the top 100 Fortune 500 companies. However, many of the other CEOs came from lesser-known schools or dropped out of school entirely. When it comes to business, qualities like entrepreneurship, creativity and leadership gained through experience are often more important predictors of success than educational pedigree.
How CEOs Make the Most of Their Degree
No matter their particular degree program, successful CEOs take advantage of the opportunities available to them in school. For example, many degree programs include internship opportunities that allow future executives the chance to acquire valuable work experience. Also consider study abroad programs for international business experience.
Successful CEOs also take advantage of networking opportunities in their degree programs. Always try to develop relationships and connections with fellow students, professors, companies and recruiters. Many people find that the connections they made in school became invaluable as they advanced in their careers.
Finally, remember to choose an appropriate degree program concentration. Most MBA programs offer numerous concentrations, so pick one that relates to your chosen industry. Common specializations are marketing, public policy, finance, environmental sustainability, health administration and information technology.
Further Reading
Top Executives in the Occupational Outlook Handbook
CEO career path from Investopedia
Educational history of top CEOs from US News