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(originally published by Booz & Company)


How Hard Times Affect a CEO’s Career

“These results suggest that the supply of talent into the CEO labor market could sometimes have severe constraints which in turn affect how firms are run,” the authors write. “Therefore, it can be very important to understand how executive labor markets function and how they interact with the boards’ task of selecting the best manager for a given vacancy.”

Bottom Line:
Future CEOs who begin their careers during a recession are likely to rise to the top faster than their peers who started during an economic boom time, but on average lead smaller firms and receive less compensation. They also adopt a more conservative management and operations style.

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