6 templates covering the standard executive role, operations lead under a CEO, financial services, nonprofit, US subsidiary, and boutique firm, with clear guidance on how the title differs from CEO and general manager. Download as DOCX.
A managing director provides overall leadership for a company or a major part of it, typically reporting to a board or a chief executive and owning strategy, the profit and loss, and the leadership team. The catch is that the title is one of the most ambiguous in business: it can mean the top executive, an operations leader under a CEO, a senior finance producer, or a country head, and it means different things in the United States and the United Kingdom.
These six templates cover the range: a standard executive managing director, an operations-focused version reporting to a CEO, a financial services version, a nonprofit and arts version, a US subsidiary or country lead, and a boutique firm or small-business version. Each is ready to use, with clear guidance on how the title differs from CEO and general manager. For the fundamentals behind any posting, the guide to writing a job description is a useful companion.
TL;DR
A managing director leads a company or a major part of it, usually reporting to a board or CEO and owning strategy and the profit and loss. The title is ambiguous: it can mean the top executive (the UK equivalent of CEO), an operations lead under a CEO, or a senior finance rank. The role is an exempt executive. The closest federal benchmark, chief executives, reports a median of $206,420. Define the model before posting.
What a Managing Director Does
A managing director sets and executes strategy, owns the financial performance, leads the senior team, and represents the organization, reporting to a board or a chief executive. The work is high-level leadership and accountability rather than hands-on execution, though the exact balance depends on the company's size and structure.
The managing director title has no dedicated federal occupation code; the U.S. Bureau of Labor Statistics groups it under top executives, noting that chief executives are also known by titles such as executive director, managing director, or president. That grouping captures the core of the role: it is a top-leadership position, even though the precise meaning shifts by sector and country.
Managing Director Duties and Responsibilities
Managing director duties cluster into four areas: strategy and growth, financial and operational, leadership and people, and governance and reporting. A strong job description selects the responsibilities from each area that match the scope, rather than listing every possible executive task.
Strategy and growth
Set and execute company strategy
Drive growth and market position
Translate board vision into plans
Financial and operational
Own the profit and loss
Manage budgets and performance
Oversee day-to-day operations
Leadership and people
Lead and develop the leadership team
Hire and build the organization
Set and protect company culture
Governance and reporting
Report to and support the board
Ensure legal and financial compliance
Represent the company to stakeholders
The weight of each area shifts with the model: a finance managing director leans toward revenue and clients, while a nonprofit managing director leans toward budgets and governance. For a structured way to scope the role, the guide to defining job responsibilities walks through the process.
Managing Director vs CEO vs General Manager
The single most important thing to get right is which version of the title you mean, because managing director, CEO, and general manager overlap and differ by company, sector, and country. Clarifying this prevents mismatched applications and sets the right seniority expectation.
Managing director vs CEO
In the United States, the chief executive officer is usually the top role, accountable to the board for the whole company. A managing director, where the title is used, is often the senior operational leader who runs day-to-day execution under the CEO, or the two titles are used interchangeably at the very top. In the United Kingdom and much of the Commonwealth, managing director is the standard term for what Americans call the CEO. Define which model you mean before posting.
Managing director vs general manager
A general manager typically leads a single location, unit, or business line, such as a restaurant, store, or branch, and is common in small and mid-sized businesses. A managing director usually sits higher, leading an entire company, subsidiary, or major group. If you are hiring the leader of one site or unit, the role you want is probably a general manager, which is a far more common small-business hire.
Managing director in finance
In banking, private equity, and consulting, managing director is a specific senior rank, usually the most senior producing title above vice president and executive director. It is a revenue-owning role focused on client origination and deal leadership, not necessarily the head of the whole firm. This meaning is enterprise and finance-specific and differs from the general-business executive meaning.
Define the Title Before You Post
Decide which model applies: the top executive (in the UK sense, equivalent to CEO), an operations leader under a CEO, a senior finance producer, or a single-unit leader. If it is a single location or business line, you most likely want a general manager. If it is the senior-most leader of the company, CEO or managing director fits. Name the reporting line in the posting.
Which Template Should You Use?
Pick the template by model and sector. The core structure is the same across all six, but each one frames the scope, reporting line, and compensation that fit a specific kind of managing director role.
Standard (Executive)
Senior-most leader
The base version: the senior-most executive reporting to the board, owning strategy, profit and loss, and the leadership team.
Operations-Focused
Reports to CEO
For the structure where a CEO sets vision and the managing director runs day-to-day operations and execution underneath.
Financial Services
Investment / banking
For finance, where managing director is the senior producing title: client origination, deal leadership, and revenue ownership.
Nonprofit / Arts
Business side
For nonprofits and arts groups: the managing director runs operations and finance alongside an artistic or program leader.
US Subsidiary
Country lead
For a foreign company's US arm: country head owning US profit and loss, the local team, and US compliance.
Boutique / Small Business
Player-coach
For a small agency or consultancy: a hands-on managing director leading strategy, clients, and a small team with the owner.
6 Managing Director Job Description Templates
Download all six as a single Word document or copy individual templates. Each follows the same structure: organization and role summary, key responsibilities, qualifications, and how to apply, with an EEO statement. Fill in the brackets and post.
Download All 6 Job Description Templates
Standard executive, operations lead, financial services, nonprofit, subsidiary, and boutique. All in one DOCX.
Template 1: Managing Director (Standard, Executive)
The base version: the senior-most executive reporting to the board, owning strategy, the profit and loss, and the leadership team. Start here for the top-leadership meaning.
Managing Director Job Description (Standard, Executive)
MANAGING DIRECTOR JOB DESCRIPTION (STANDARD, EXECUTIVE)
Company: __
Location: __ ([City, State])
Reports to: Board of Directors / Chairperson
Employment type: Full-time
FLSA status: Exempt (executive)
Compensation: $_____ base, plus bonus and equity as applicable
ABOUT [COMPANY NAME]
[One or two sentences about your organization, its mission, size, and the scope the
managing director will lead.]
ROLE SUMMARY
[Company Name] is seeking a Managing Director to provide overall leadership and
direction, reporting to the board. As the senior-most executive, you will set and
execute strategy, own the profit and loss, lead the leadership team, and represent the
organization to stakeholders. You translate the board's vision into results and build
a high-performing organization.
KEY RESPONSIBILITIES
•Set and execute company strategy with the board
•Own the profit and loss and overall financial performance
•Lead, hire, and develop the senior leadership team
•Oversee day-to-day operations across functions
•Report performance, risks, and plans to the board
•Represent the company to clients, partners, and investors
•Drive growth, culture, and operational excellence
•Ensure legal, financial, and regulatory compliance
REQUIRED QUALIFICATIONS
•Proven senior leadership or general management experience
•Track record of profit and loss ownership and growth
•Strong strategic, financial, and operational judgment
•Experience reporting to or working with a board
•Excellent leadership and stakeholder-management skills
•[Relevant degree or equivalent experience; MBA a plus]
COMPENSATION AND HOW TO APPLY
Compensation: $_____ base, plus bonus and equity as applicable
To apply, send your resume and a cover letter to __.
[Company Name] is an equal opportunity employer.
Template 2: Managing Director (Operations-Focused, Reports to CEO)
For the structure where the CEO sets vision and the managing director runs day-to-day operations and execution underneath. Use this when the role is the senior operational leader.
Managing Director Job Description (Operations-Focused, Reports to CEO)
MANAGING DIRECTOR JOB DESCRIPTION (OPERATIONS-FOCUSED, REPORTS TO CEO)
Company: __
Location: __ ([City, State])
Reports to: Chief Executive Officer
Employment type: Full-time
FLSA status: Exempt (executive)
Compensation: $_____ base, plus bonus
ROLE SUMMARY
[Company Name] is hiring a Managing Director to run day-to-day operations under the
direction of the CEO. In this structure, the CEO sets long-term vision and external
strategy while the managing director owns operational execution, performance, and the
internal leadership team. This split keeps the CEO focused on the market while the MD
keeps the business running.
KEY RESPONSIBILITIES
•Run day-to-day operations and execution
•Translate CEO and board strategy into operating plans
•Manage department heads and operational performance
•Own operating budgets and efficiency targets
•Report operational results to the CEO and board
•Resolve cross-functional issues and remove blockers
•Build process, systems, and operating discipline
•Deputize for the CEO on internal matters as needed
REQUIRED QUALIFICATIONS
•Strong operational leadership track record
•Experience managing multiple departments or functions
•Financial and operating-budget fluency
•Ability to execute strategy set by a CEO and board
•Excellent management and communication skills
•[Relevant degree or equivalent experience]
NOTE ON TITLES (read before posting)
Managing director, CEO, general manager, and president overlap and vary by company and
country. In the United States the top role is usually CEO or president, while managing
director often means the senior operational leader under the CEO, or it is used in
finance. Define the reporting line and scope clearly so candidates understand the
actual role. This is general information, not legal advice.
COMPENSATION AND HOW TO APPLY
Compensation: $_____ base, plus bonus
To apply, send your resume to __.
[Company Name] is an equal opportunity employer.
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Template 3: Managing Director (Financial Services / Investment)
For banking, private equity, or consulting, where managing director is the senior producing title: client origination, deal leadership, and revenue ownership.
Managing Director Job Description (Financial Services / Investment)
MANAGING DIRECTOR JOB DESCRIPTION (FINANCIAL SERVICES / INVESTMENT)
Firm: __
Location: __ ([City, State])
Reports to: [Partner / Head of Group / CEO]
Employment type: Full-time
FLSA status: Exempt
Compensation: $_____ base, plus bonus and carry as applicable
ROLE SUMMARY
[Firm Name] is seeking a Managing Director to lead client relationships, originate and
execute deals, and drive revenue for the group. In financial services, managing
director is typically the senior-most producing title, responsible for business
development, transaction leadership, and mentoring junior bankers or investment staff.
This is a revenue-owning leadership role.
KEY RESPONSIBILITIES
•Originate and lead client relationships and mandates
•Source, structure, and execute transactions
•Own a revenue or assets-under-management target
•Lead deal teams and review work product
•Mentor and develop associates and vice presidents
•Represent the firm with clients and counterparties
•Ensure compliance with financial regulations and policies
•Contribute to firm strategy and growth
REQUIRED QUALIFICATIONS
•Extensive financial services, banking, or investment experience
•Proven origination, deal, or revenue track record
•Deep technical and market expertise in the relevant area
•Strong client network and business-development skills
•[Required securities licenses where applicable]
•[Relevant degree; MBA or CFA a plus]
COMPENSATION AND HOW TO APPLY
Compensation: $_____ base, plus bonus and carry as applicable
To apply, send your resume to __.
[Firm Name] is an equal opportunity employer.
Template 4: Managing Director (Nonprofit / Arts)
For nonprofits and arts organizations: the managing director runs operations and finance, often alongside an artistic or program director who leads the mission.
Managing Director Job Description (Nonprofit / Arts)
MANAGING DIRECTOR JOB DESCRIPTION (NONPROFIT / ARTS)
Organization: __
Location: __ ([City, State])
Reports to: Board of Directors / Artistic Director
Employment type: Full-time
FLSA status: Exempt (executive)
Compensation: $_____ per year
ROLE SUMMARY
[Organization Name] is hiring a Managing Director to lead operations, finance, and
administration. In many nonprofits and arts organizations, the managing director runs
the business side, often alongside an artistic or program director who leads the
mission side. You will own budgets, fundraising operations, staff, and day-to-day
management so the organization runs sustainably.
KEY RESPONSIBILITIES
•Lead operations, finance, and administration
•Own the budget and financial sustainability
•Support fundraising, grants, and development
•Manage staff, contracts, and facilities
•Partner with the artistic or program director
•Report to and support the board of directors
•Ensure compliance and sound governance
•Steward donor, member, and community relationships
REQUIRED QUALIFICATIONS
•Nonprofit or arts management experience
•Budget, finance, and operations leadership
•Fundraising or development familiarity
•Board-reporting and governance experience
•Mission-driven, collaborative leadership style
•[Relevant degree or equivalent experience]
COMPENSATION AND HOW TO APPLY
Compensation: $_____ per year
To apply, send your resume and a cover letter to __.
[Organization Name] is an equal opportunity employer.
Template 5: Managing Director (US Subsidiary / Country Lead)
For a foreign company's US arm: the country head owns the US profit and loss, builds the local team, and ensures US compliance, reporting to the parent.
Managing Director Job Description (US Subsidiary / Country Lead)
MANAGING DIRECTOR JOB DESCRIPTION (US SUBSIDIARY / COUNTRY LEAD)
Company: __
Location: __ ([City, State])
Reports to: [Global CEO / Regional President / Parent Company]
Employment type: Full-time
FLSA status: Exempt (executive)
Compensation: $_____ base, plus bonus
ROLE SUMMARY
[Company Name] is seeking a Managing Director to lead our US operations as the
country head, reporting to the parent company. You will own the US profit and loss,
adapt global strategy to the US market, build and lead the local team, and ensure US
legal, tax, and employment compliance. This role represents the parent company in the
US and is accountable for local results.
KEY RESPONSIBILITIES
•Own the US profit and loss and country performance
•Adapt and execute global strategy for the US market
•Build, lead, and develop the local team
•Ensure US legal, tax, and employment compliance
•Represent the company with US clients and partners
•Report results and plans to the parent company
•Localize products, pricing, and go-to-market
•Manage local vendors, facilities, and operations
REQUIRED QUALIFICATIONS
•General management or country-lead experience
•US market and operational expertise
•Profit and loss ownership track record
•Familiarity with US compliance and employment basics
•Ability to work across a global parent structure
•[Relevant degree; international experience a plus]
COMPENSATION AND HOW TO APPLY
Compensation: $_____ base, plus bonus
To apply, send your resume to __.
[Company Name] is an equal opportunity employer.
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Template 6: Managing Director (Boutique Firm / Small Business)
For a small agency, consultancy, or boutique firm: a hands-on, player-coach managing director leading strategy, clients, and a small team with the owner or partners.
Managing Director Job Description (Boutique Firm / Small Business)
MANAGING DIRECTOR JOB DESCRIPTION (BOUTIQUE FIRM / SMALL BUSINESS)
Company: __
Location: __ ([City, State])
Reports to: Owner / Partners / Board
Employment type: Full-time
FLSA status: Exempt (executive)
Compensation: $_____ base, plus bonus
ROLE SUMMARY
[Company Name] is a [agency / consultancy / boutique firm] hiring a Managing Director
to lead the business day to day. As the senior leader of a small, hands-on team, you
will own strategy and execution, client relationships, finances, and the people side,
working closely with the owner or partners. This is a player-coach leadership role for
a growing small business.
KEY RESPONSIBILITIES
•Lead day-to-day operations and team management
•Own client relationships and delivery quality
•Manage the budget and financial performance
•Set strategy and priorities with the owner or partners
•Hire, develop, and lead a small team
•Drive new business and growth
•Build process and structure as the firm scales
•Represent the firm to clients and partners
REQUIRED QUALIFICATIONS
•Leadership experience in a small firm or agency
•Client-facing and business-development skills
•Budget and operations ownership
•Hands-on, build-it leadership style
•Strong communication and people skills
•[Relevant industry experience]
NOTE ON CLASSIFICATION (read before posting)
A managing director whose primary duty is managing the business, who directs the work
of others and has real authority over hiring, is generally an exempt executive. In a
very small firm, confirm the role truly meets the executive exemption rather than
assuming the title settles it. This is general information, not legal advice.
COMPENSATION AND HOW TO APPLY
Compensation: $_____ base, plus bonus
To apply, send your resume to __.
[Company Name] is an equal opportunity employer.
FLSA and Executive Classification
A managing director is almost always an exempt executive, which means the role is salaried and not entitled to overtime. Understanding why matters when you set compensation and when a small firm uses the title loosely.
Exempt Under the Executive Exemption
Under the FLSA executive exemption, an employee is exempt when their primary duty is managing the enterprise, they direct at least two full-time employees, and they have hiring authority, paid on a salary basis above the federal threshold. A managing director meets this by definition. The exception to watch is a tiny firm where the title carries no real management authority.
Managing director requirements center on senior leadership experience, financial and operational judgment, and a track record of results, scaled to the sector and company size. Keep the requirements tied to the model you defined.
Requirement
What to look for
Experience
Proven senior leadership or general management track record
Financial
Profit and loss ownership and budget management
Strategic
Strategy setting and execution at the company or unit level
Leadership
Building and leading senior teams; hiring authority
Governance
Board reporting and stakeholder management
Classification
Exempt executive; salaried, not overtime-eligible
Keep the posting neutral and inclusive, since the EEOC prohibits job advertisements that show a preference based on a protected characteristic. For adjacent leadership roles, a COO, CFO, or vice president template may fit your structure.
Managing Director Pay
Managing director pay is high and varies widely by sector, since the title spans general-business executives and senior finance professionals. Use the federal top-executive benchmarks as a starting point and adjust heavily for sector and structure.
With no dedicated occupation code for managing director, the nearest benchmarks are top executives: chief executives had a median annual wage of $206,420 and general and operations managers $102,950 in May 2024 (BLS via O*NET). Compensation surveys for the managing director title range from roughly $120,000 to well over $300,000 in total pay, highest in financial services.
Pay depends heavily on whether the role is a top executive, an operations lead, or a finance producer, and on company size and sector. Total compensation for senior roles often includes bonus and equity or carried interest, which can far exceed base salary in finance. Benchmark to your specific sector and structure, and define the compensation package clearly in the offer.
From Hiring to Onboarding
The job description is step one. An executive hire has distinct onboarding needs: a written offer covering the full compensation package, often an employment agreement, and a deliberate start that aligns the new leader with the board and the first 90 days.
Send the offer
Confirm the role, scope, reporting line, compensation including bonus and equity, and start date in a written offer.
Formalize the agreement
An executive role often involves an employment agreement covering confidentiality, non-compete where lawful, and severance.
Onboard to the board
Set up board reporting, delegated authority, and the first 90-day priorities so the new leader starts aligned.
Store the records
Keep the signed offer, executive agreement, and onboarding documents organized and accessible.
Once your offer is ready, the offer letter template handles the next step, and an employment contract template covers the executive agreement. FirstHR connects the offer, e-signatures, and document management in one place, which helps even for a senior hire where the paperwork still has to be signed, stored, and tracked. FirstHR is an onboarding and HR platform, not an executive-search or payroll tool, and it does not run payroll or administer benefits, so connect those separately. Applicant tracking is coming soon to FirstHR.
Key Takeaways
A managing director provides overall leadership, reporting to a board or CEO and owning strategy and the profit and loss.
The title is ambiguous: it can mean the top executive, an operations lead under a CEO, or a senior finance rank, and differs between the US and UK.
Use the template that matches the model: standard executive, operations lead, financial services, nonprofit, subsidiary, or boutique.
If you are hiring the leader of one location or unit, you most likely want a general manager instead.
A managing director is an exempt executive: salaried and not entitled to overtime, with a narrow caution for tiny firms.
Pay is high and sector-driven: the closest federal benchmark, chief executives, reports a median of $206,420.
Frequently Asked Questions
What does a managing director do?
A managing director provides overall leadership for a company or a major part of it, typically reporting to a board of directors or a chief executive. The role owns strategy and execution: setting direction, managing the profit and loss, leading the senior team, overseeing day-to-day operations, reporting to the board, and representing the organization to clients, partners, and investors. The exact scope depends on the structure. In some companies the managing director is the senior-most executive, equivalent to a CEO; in others the role runs operations under a CEO. In finance, it is a senior producing title focused on client relationships and deals. Because the title varies so much, the responsibilities should always be defined against the specific reporting line and company model. This is general information, not legal advice.
What is the difference between a managing director and a CEO?
It depends on the company and the country. In the United States, the chief executive officer is usually the top role and is accountable to the board for the entire organization, while a managing director, where the title is used, is often the senior operational leader running day-to-day execution under the CEO. In some companies the two titles are used interchangeably at the very top. In the United Kingdom and much of the Commonwealth, managing director is the standard title for what Americans call the CEO. So the same words can mean the top job or the operational deputy depending on context. When you write the job description, define the reporting line and scope explicitly so candidates understand whether they would be the top leader or a senior executive beneath the CEO. This is general information, not legal advice.
Is a managing director the same as a general manager?
No, although the titles are sometimes confused. A general manager typically leads a single location, unit, or business line, such as a restaurant, store, branch, or product line, and is one of the most common leadership hires in small and mid-sized businesses. A managing director usually sits higher and leads an entire company, subsidiary, or major group, with broader strategic and financial accountability. If you are hiring the person who runs one site or one part of the business, you most likely want a general manager. If you are hiring the senior-most leader of the whole company or a country operation, managing director or CEO is the right framing. Match the title to the actual scope and seniority of the role. This is general information, not legal advice.
What does managing director mean in finance and banking?
In investment banking, private equity, and consulting, managing director is a specific senior rank rather than the head of the whole firm. It is usually the most senior producing title, sitting above vice president and executive director in the typical hierarchy. A managing director in finance owns client relationships, originates business, leads transactions or investments, and mentors junior staff, with compensation heavily weighted toward bonus and, in some firms, carried interest. This meaning is enterprise and finance-specific and differs from the general-business use of the title, where managing director refers to a company's senior-most executive. If you are hiring in financial services, your job description should emphasize origination, revenue ownership, and any required securities licenses. This is general information, not legal advice.
Is a managing director exempt or non-exempt under the FLSA?
A managing director is almost always an exempt executive employee. Under the Fair Labor Standards Act executive exemption, an employee is exempt when their primary duty is managing the enterprise or a recognized department, they regularly direct the work of at least two full-time employees, they have authority to hire and fire or their recommendations carry significant weight, and they are paid on a salary basis above the federal threshold. A managing director meets these criteria by definition, so the role is exempt and not entitled to overtime. The one place to be careful is a very small firm where someone holds the title but does not actually manage or have hiring authority; in that edge case, confirm the role truly meets the exemption rather than relying on the title. This is general information, not legal advice.
Does a small business hire a managing director?
It is less common in the United States than in the United Kingdom. In most small US businesses, the top leader is the founder, owner, CEO, or president, and the title managing director is not widely used. Where it does appear in smaller US organizations, it tends to be in specific niches: boutique financial or consulting firms, agencies, nonprofits and arts organizations that split business and program leadership, and US subsidiaries of foreign companies. Many small businesses that think they need a managing director actually need a general manager or an operations leader, which are far more common small-business roles. If you are a small business considering this title, first decide whether you want a top executive, an operations leader, or a single-unit manager, since each points to a different job description. This is general information, not legal advice.
How much does a managing director make?
Managing director pay is high and varies widely by sector, since the title spans general-business executives and senior finance professionals. Because the role has no dedicated federal occupation code, the closest benchmarks are top executives. The U.S. Bureau of Labor Statistics reported a median annual wage of $206,420 for chief executives and $102,950 for general and operations managers in May 2024. Compensation surveys for the managing director title specifically range from roughly $120,000 to well over $300,000 in total pay, with financial services managing directors at the very top once bonus and carried interest are included. Pay depends heavily on sector, company size, and whether the role is a top executive, an operations lead, or a finance producer. Benchmark to your specific sector and structure. This is general information, not legal advice.
What should a managing director job description include?
A strong managing director job description starts by defining the model clearly, since the title is ambiguous: state whether the role is the senior-most executive, an operations leader under a CEO, a finance producer, or a country or subsidiary head, and name the reporting line. Include a short organization summary, a role summary that fixes the scope, and responsibilities grouped into strategy and growth, financial and operational, leadership and people, and governance and reporting. State the required experience realistically, note that the role is an exempt executive, and describe the compensation structure including bonus and equity where relevant. Because the title differs between the US and UK and across sectors, a brief note clarifying which meaning you intend prevents mismatched applications. Close with an equal opportunity statement and clear apply instructions. This is general information, not legal advice.
