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How much does a managing director make?

Question:

How much does a managing director make?

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Answer:

According to PayScale, a managing director in the United States can expect to earn a median income of $150,347 a year, but due to numerous different factors they could earn a salary as low as $65,000, or as much as $247,000 a year, as of October 2020. However, not only are these gross income amounts and will be subject to various taxation depending on the state, they also do not include any extra income earned through things like bonuses, overtime, profit sharing, or commissions, which can be substantial in this type of position. For example, PayScale calculated that the average yearly bonus was $26,451, whereas it was $18,750 for the average commission, and $17,500 for profit sharing. With that being said though, the location that the managing director works in will also make a big difference, because the average pay rate is not the same everywhere in the country. For example, managing directors in New York City will earn 39% above the median annual rate, whereas those in Philadelphia will earn 17% below this rate.

For more information about working as an executive, check out this article: How to Become an Executive: Education and Career Roadmap

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