Essay Example on Average CEO Salary at 6-Member Corporation: EPS 5

The corporation currently has six members, including one investor. A CEO, an accounting manager, and an operations manager will be required to help with managing the business. Only these three will be needed since the size of the corporation is still small. However, as it expands, more managerial positions will be made available. For each of the posts, the salary will vary depending on the rank, as well as the roles and responsibilities (El-Haddad, 2020).

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The CEO average salary is EPS 500,000, with a possible bonus of up to EPS 265,000 and EPS 150,000 profit sharing. The CEO will be in charge of the organization and be the party who makes the majority of the executive decisions. The shareholders of the organization will appoint him. The responsibilities include leading, guiding, and even overseeing the job performance of the other managers. He will be responsible for strategy formulation and the identification of goals and initiatives for the company. That is why he has the highest salary since his scope of work is wider (Trannet, 2020).

The Accounting manager earns an average salary of EPS 175,000, with a bonus of up to EPS 24,000 and EPS 6,500 profit sharing. The amount is offered concerning the minimum wage stipulated in the laws of the country (Minimum wage - Egypt., 2020). The professional will have the role of developing and implementing systems for the collection, analysis, and reporting of business-related financial information. The responsibilities include preparing and monitoring annual budgets, scheduling expenditures, and implementing solutions in case of budget issues. It also includes guiding other departments by offering financial advice.

The operations manager earns a salary of EPS 300,000, with a bonus of EPS 98,000 and profit-sharing of EPS 60, 000. A commission of up to EPS 170,000 is also earned since he gets it from his output, in addition to the basic salary (Salary, Minimum Wage, Regular Pay, 2020). This professional is responsible for maintaining the status of the business. Hence, he works alongside the top management team to ensure the business functions are adequate, along with quality service delivery. He oversees all business-related activities, including cleanliness and inventory. They manage the personnel through supervision and even control their wages.

References

El-Haddad, A. (2020). Raising Egypt's minimum wage: the impact on inequality - Economic Research Forum (ERF). Economic Research Forum (ERF). Retrieved 4 April 2020, from https://theforum.erf.org.eg/2019/04/25/raising-egypts-minimum-wage-impact-inequality/.

Minimum wage - Egypt. WageIndicator.org. (2020). Retrieved 4 April 2020, from https://wageindicator.org/salary/minimum-wage/egypt.

Salary, Minimum Wage, Regular Pay, - Egypt - WageIndicator.org. WageIndicator.org. (2020). Retrieved 4 April 2020, from https://wageindicator.org/labour-laws/labour-law-around-the-world/minimum-wages-regulations/minimum-wages-regulations-egypt.

Trannet, M. (2020). Egyptian Labor Law. Hg.org. Retrieved 4 April 2020, from https://www.hg.org/legal-articles/egyptian-labor-law-31577.