What's it like to be a Director?
As a Director, you may be either an “Executive Director”, which means you’re working within an organisation and have key operational responsibilities, or a “Non-Executive Director”, which means you do not work within a business but rather, sit on a Board of Directors, reviewing the organisation's performance and making key decisions on behalf of shareholders.
Tasks and duties
- Setting the vision and mission for a company.
- Overseeing a company on behalf of shareholders.
- Appointing a CEO who will run the company.
- Providing the strategic direction of the company.
- Making key decisions around a company’s risk exposure.
- Undertaking corporate governance.
Directors (also known as Company Directors) are expected to be able to read and understand financial statements and have a general overview of a company's operational activities and corporate governance, including an understanding of its exposure to risk and strategic direction.
Deciding to be a Director in a company is an important decision which carries significant responsibility. If you are considering becoming a Director it is important to fully understand what the position requires of you, including any legal obligations in respect of managing the company.
What can I earn as a Director?
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How to become a Director
- Complete a Bachelor degree.
- Consider gaining a Master of Business Administration (MBA).
- Undertake the professional director training course with the Australian Institute of Company Directors (AICD).
- Gain relevant work experience and develop expertise in business, leadership and decision-making.
- Finding good mentors, undertaking a Board induction as well as completing professional training specific to the role of a Director should be considered essential steps for all new Directors.
- Having strong technical expertise which you can confidently demonstrate, as well as strong leadership skills are also vital. It may take many years to develop these skills and experience.