Leadership & Management

Frequently Asked Questions (FAQs)

• What is the difference between leadership and management?

  Leadership and management are interrelated concepts, each with their own focus, objectives, and supporting skill sets.

  Leaders often require management skills, just as managers benefit from having leadership skills. Successful and sustainable organizations thrive when those managing and leading their teams embody both sets of skills.

  At its core, leadership entails inspiring and guiding people toward a common goal or vision. It requires strategic vision or direction and maintaining a culture that is motivating and facilitates innovation.

  Learning how to be a successful leader entails exploring different leadership styles and theories of leadership, while delving into topics such as decision making and the nuances of crafting and communicating a company or organization’s vision.

  On the other hand, management is a more technical discipline. It involves planning, organizing and coordinating resources (people, processes, capital, systems) in order to achieve the shared goals that leaders have established. Managers oversee day-to-day operations and make decisions to allocate resources where they’re needed. Being an effective manager requires a more direct functional role involving project management, strategic planning, people management, and operational efficiency.

• Do I need a formal degree to get a leadership or management position?

  Those looking to step into executive leadership positions usually require professional degrees like a Master of Business Administration (MBA) or a master’s degree in related fields such as executive leadership, organizational leadership, or global management.

  As for management roles, a business administration or management degree can offer valuable knowledge, skills, networking opportunities and experience. Those interested in specific industries, such as retail, hospitality, or healthcare, can tailor their education by pursuing management degrees in these particular niches.

  Individuals with a strong track record of success while displaying leadership qualities could be considered for a promotion into management or even executive leadership roles despite not having a formal degree – but this is most applicable to those who have spent several years working their way up at one company.

  More often than not, managers are groomed from the ranks of specialists. For young professionals just beginning their careers, most managers themselves will recommend developing subject area expertise while you develop the experience necessary to enter the C-suite.

  You may also want to consider one of Canada’s leading business schools.

• What makes a good senior management leader?

  Those who work in senior management positions are required to juggle urgent tasks that need immediate attention along with long-range planning and projects that address the larger needs and growth trajectory of an organization. You will need to prioritize tasks, allocate resources effectively – both human and financial — and maintain a calm outlook even during stressful situations. Leaders in senior roles should have a mix of empathy and be able to apply rational thought to challenging situations. An ability to adapt to changing circumstances is crucial.

• What are some common career paths for managers?

  While some employers may opt to look externally to fill leadership and management positions, others are dedicated to nurturing the growth of aspiring leaders and managers to build their career within the organization.

  In entry-level management roles, many start learning to manage as a project manager or team lead, which offers foundational learning opportunities about navigating team dynamics, and how to mentor those with less experience.

  Progressing to a middle management role, such as a department manager, these roles are responsible for overseeing a team and generally have more strategic duties.

  Senior management roles, such as senior manager, VPs, and directors, are responsible for leading entire departments that may have multiple teams. For example, a VP of marketing may lead multiple digital marketing teams that include marketing, growth, sales, and content.

  Executive leadership roles, such as Chief Executive Officer (CEO), Chief Operations Officer (COO), or Chief Financial Officer (CFO), are responsible for top-level decision-making and determining the company’s overarching direction.

• How much can I make as a manager in Canada?

  Manager compensation can vary widely depending on your industry, experience, seniority and level of responsibility. According to Glassdoor, the average manager salary in Canada is $78,180 annually, with senior managers’ salaries averaging $115,516.

  Those in leadership positions are often compensated with a bonus structure or stock options program in addition to their salary. Executives at the highest echelon of management – in the C-suite – could make over $200K on average with these additional compensation offerings.