How Many Hours Per Week Does a CEO of a Tech Company Work?
The number of hours a CEO of a tech company spends on work each week can vary widely, depending on several factors including the size of the company, its stage of development, and the individual's personal work habits. Many CEOs of tech companies typically work between 60 to 80 hours a week, but this can extend based on additional responsibilities such as travel, meetings, and networking.
Factors Influencing CEO Work Hours
Several factors contribute to the significant work hours reported by CEOs of tech companies:
Company Size and Complexity
CEOs of larger tech companies often bear more responsibilities due to their size and complexity, leading to longer working hours.
Stage of the Company
The stage of a tech company is a critical factor in determining the CEO's workload. Startups often require hands-on leadership and hence extended working hours, while more established companies allow for better delegation and somewhat shorter working hours.
Industry Dynamics
The tech industry is fast-paced, with rapid changes in the market. This necessitates that CEOs are available for long hours to respond to these changes and maintain competitive advantage.
Personal Work Style
Different CEOs may choose to work more or less hours based on their personal work preferences. Some prioritize hard work and long hours, while others focus on work-life balance.
Evidence-Based Insights
According to an evidence-based study by Harvard Business Review, there is insight into the daily routines and schedules of tech company CEOs. In their research, Michael E. Porter and Nitin Nohria explored how CEOs manage their time.
As detailed in ‘How CEOs Manage Time’ (Harvard Business Review, Jul/Aug 2018), their study launched in 2006 offers a comprehensive and detailed examination of CEO time use in large, complex companies. For an extended period, they tracked the time allocation of 27 CEOs, including 2 women and 25 men, over a full quarter (three months). Their companies, primarily public, had an average annual revenue of $13.1 billion during the study period.
The study examined how these leaders, who participated in the New CEO Workshop, spend their time. The New CEO Workshop is an intensive two-week program that brings newly appointed CEOs of large companies to Harvard Business School in two separate cohorts of 10 to 12 each, with just over 300 CEOs having attended since its inception.
24/7: Planning, Strategizing, Worrying, etc.
While the actual workday length can vary based on the nature of tasks and responsibilities, the thinking and planning process never cease. Most individuals find it difficult to sustain peak performance over an 80-hour workweek that they would in a standard 40-hour workweek. Therefore, finding a balance is crucial.
CEOs must plan and strategize constantly, worried about market dynamics, stakeholder expectations, and the future direction of their companies. This continuous mental engagement often extends their work beyond typical office hours and even into their personal time.