An interim executive brought into a struggling company to stabilize cash, restructure debt and lead it through or around bankruptcy. BLS does not publish separate figures for chief executives; it counts them within chief executive (SOC 11-1011), whose median pay is $213,990 a year (BLS OEWS, May 2025). Typical entry-level education: Bachelor's degree.
- SOC 11-1011
- Management
- Last updated October 9, 2026
At a glance
Chief Restructuring Officer in four numbers
- Median pay
- $213,990a year, or $102.88/hrBLS OEWS, May 2025Lowest 10% $76KTop 10% $508K
US median, all jobs: $50,980
- Projected growth
- +3.2%About as fast as averageBLS EP, 2025–2035This career+3.2%All jobs+3.5%
Projected employment change, 2025–2035 Item Value This career +3.2% All jobs +3.5% - Openings a year
- 19,100291,600 jobs todayBLS EP, 2025–2035
- Jobs in 2025291.6K
- Projected 2035300.9K
Employment, 2025–2035 Item Value Jobs in 2025 291.6K Projected 2035 300.9K - Typical education
- Bachelor'sneeded to enterBLS EP, 2025–2035; mix: O*NET
- High school4.5%
- Associate's5.2%
- Bachelor's32.3%
- Master's45.9%
- Post-master’s certificate3.9%
- Doctorate4.9%
Highest education held by chief executives Segment Value High school 4.5% Associate's 5.2% Bachelor's 32.3% Master's 45.9% Post-master’s certificate 3.9% Doctorate 4.9%
Also advertised as: CRO (Restructuring), Turnaround Executive, Interim CEO (Turnaround), Turnaround Consultant, Restructuring Managing Director.
Pay
How much do Chief Executives make?
Every chief restructuring officer in the US, by percentile of annual wage
Median
$213,990
Middle half earn $129,540 to $356,200
- 10th
- $75,700
- 25th
- $129,540
- 75th
- $356,200
- 90th
- $507,730
All US occupations: $50,980
| Percentile | Value |
|---|---|
| 10th | $75,700 |
| 25th | $129,540 |
| Median | $213,990 |
| 75th | $356,200 |
| 90th | $507,730 |
| All US occupations | $50,980 |
Source: BLS OEWS, May 2025
- Median annual wage
- $213,990
- Median hourly wage
- $102.88/hr
- Mean annual wage
- $269,630
- People employed
- 204,350
Versus all US occupations
At $213,990, Chief Executives earn 320% above the $50,980 median across all US occupations, a difference of $163,010 a year.
Versus management occupations
Inside the Management group, where the middle occupation pays $126,060, this is 70% above the group median.
Pay range
The top 10% earn $507,730 or more while the bottom 10% earn $75,700, a gap of 6.7×. That is an unusually wide spread, which usually tracks specialisation, employer type and years of experience.
Rank in the bank
This median pays more than 96% of the 1,741 occupations in the NueCareer career bank.
Cost of living
Oregon posts the highest raw median ($341,630), but once local prices are taken into account North Carolina leads at $333,196 in national-average dollars.
Pay by state
Which states pay Chief Executives the most?
State medians come from the same OEWS release as the national figures. The cost-of-living column divides each state median by that state's BEA Regional Price Parity, restating pay in national-average dollars so a high-cost state and a low-cost one can be compared directly.
| State | Median | COL-adjusted | Employed |
|---|---|---|---|
| 1Oregon | $341,630 | $330,521 | 910 |
| 2Washington | $339,810 | $317,541 | 3,170 |
| 3Illinois | $331,920 | $332,059 | 4,620 |
| 4North Carolina | $314,290 | $333,196 | 1,930 |
| 5Virginia | $310,740 | $307,347 | 4,870 |
| 6New Jersey | $310,440 | $285,318 | 2,430 |
| 7Connecticut | $295,120 | $284,837 | 1,660 |
| 8Hawaii | $281,640 | $256,150 | 470 |
| 9South Dakota | $280,900 | $317,093 | 510 |
| 10New York | $257,980 | $239,045 | 8,430 |
Job outlook
Is Chief Restructuring Officer a growing career?
Employment change over 2025–2035, against every US occupation
About as fast as average. +3.2% projected growth vs 3.5% for all occupations.
| Item | Value |
|---|---|
| Chief Executives | +3.2% |
| All US occupations | +3.5% |
Source: BLS EP, 2025–2035
About as fast as average
BLS projects employment of Chief Executives to change 3.2% over 2025–2035, against 3.5% projected for all occupations. That is 9,300 more jobs.
Annual openings
About 19,100 openings are projected each year, 6.6% of the 291,600 jobs that existed in 2025. Most come from workers leaving the occupation, not from growth alone.
Getting in
How to become a Chief Restructuring Officer
Most CROs have a background in finance or accounting, often an MBA or CPA, and many years in restructuring advisory, investment banking, private equity or operating roles. They typically work up through analyst, director and managing director levels at turnaround firms.
The Association of Insolvency and Restructuring Advisors awards the CIRA credential, and the Turnaround Management Association offers the CTP credential for turnaround professionals. Many come to the role after years advising lenders or creditors' committees, or after running finance at a company that went through a turnaround.
- 1
Typical entry-level education
Bachelor's degree
- 2
Work experience in a related occupation
5 years or more
- 3
Typical on-the-job training
None
- 4
Preparation needed (O*NET job zone)
Considerable preparation
BLS Employment Projections, 2025–2035; job zone from O*NET 31.0 Database.
What education people in the job have
O*NET incumbent survey: the highest level of education reported by people already working as chief executives.
- Master's Degree45.9%
- Bachelor's Degree32.3%
- Associate's Degree or other 2-year degree5.2%
- Doctoral Degree4.9%
- High School Diploma or the equivalent (such as a GED)4.5%
| Item | Value |
|---|---|
| Master's Degree | 45.9% |
| Bachelor's Degree | 32.3% |
| Associate's Degree or other 2-year degree | 5.2% |
| Doctoral Degree | 4.9% |
| High School Diploma or the equivalent (such as a GED) | 4.5% |
Source: O*NET 31.0 Database
The work
What does a Chief Restructuring Officer do?
A chief restructuring officer takes temporary control of key decisions at a company in financial distress. Usually supplied by a turnaround or restructuring advisory firm, the CRO builds short-term cash forecasts, cuts costs, decides which operations to keep or sell, and leads negotiations with lenders, bondholders and other creditors.
If the company files for Chapter 11, the CRO often testifies in bankruptcy court in support of first-day motions and the restructuring plan, and the CRO's engagement must be approved by the court. Some turnaround professionals serve as interim CEOs or CFOs instead, steering a company until a permanent leader is hired.
Day-to-day tasks
- Build short-term cash flow forecasts and liquidity plans
- Identify cost cuts, asset sales and operational fixes
- Negotiate with lenders, bondholders and other creditors
- Prepare business plans for restructuring negotiations
- Testify in bankruptcy court about the company's finances
- Run sale processes for divisions or the whole company
- Report to the board on restructuring progress
Typical tasks, researched by NueCareer from the sources below.
Working conditions and hours
CROs work on site at client companies, often far from home for months at a time, and in bankruptcy courtrooms. The pace is intense, with daily cash decisions, tough negotiations and difficult choices about layoffs and closures.
Where the work happens
Indoors, climate-controlled
NeverEvery dayIndoors, in a climate-controlled space, every day.
Outdoors in all weather
NeverEvery day
Physical demands
Sitting
NeverAlmost all the timeSeated for more than half the working day.
Standing
NeverAlmost all the timeBending or twisting
NeverAlmost all the time
Working with people
Contact with other people
NoneConstantConstant contact with other people.
Face-to-face discussions
NeverEvery dayFace-to-face discussions every day.
Dealing with the public
Not importantExtremely importantDealing with customers or the public is very important.
Pressure and stakes
Strict deadlines
NeverEvery dayMeeting strict deadlines at least weekly.
Conflict situations
NeverEvery dayHandling conflict situations at least monthly.
Cost of a mistake
Not seriousExtremely serious
Autonomy
Freedom to decide
NoneA lotA lot of freedom to make decisions without checking first.
Conditions: O*NET Work Context survey. Each item has its own scale, so each dot is read against the two answers that end its own line.
Core skills
O*NET importance, 1 to 5
- Critical Thinking4.4
- Speaking4.3
- Reading Comprehension4.1
- Writing4.1
- Active Listening4.0
- Monitoring4.0
- Active Learning3.8
- Mathematics3.3
| Item | Value |
|---|---|
| Critical Thinking | 4.4 |
| Speaking | 4.3 |
| Reading Comprehension | 4.1 |
| Writing | 4.1 |
| Active Listening | 4.0 |
| Monitoring | 4.0 |
| Active Learning | 3.8 |
| Mathematics | 3.3 |
Source: O*NET 31.0 Database
Transferable skills
O*NET importance, 1 to 5
- Judgment and Decision Making4.8
- Complex Problem Solving4.4
- Coordination4.3
- Systems Evaluation4.3
- Management of Financial Resources4.3
- Management of Personnel Resources4.3
- Social Perceptiveness4.1
- Negotiation4.1
| Item | Value |
|---|---|
| Judgment and Decision Making | 4.8 |
| Complex Problem Solving | 4.4 |
| Coordination | 4.3 |
| Systems Evaluation | 4.3 |
| Management of Financial Resources | 4.3 |
| Management of Personnel Resources | 4.3 |
| Social Perceptiveness | 4.1 |
| Negotiation | 4.1 |
Source: O*NET 31.0 Database
Tools and software
- Accounting software · in demand
- Content workflow software · in demand
- Data base user interface and query software · in demand
- Document management software · in demand
- Electronic mail software · in demand
- Enterprise application integration software · in demand
- Enterprise resource planning ERP software · in demand
- Office suite software · in demand
- Presentation software · in demand
- Project management software · in demand
- Spreadsheet software · in demand
- Web platform development software · in demand
“In demand” marks an O*NET Employer-Based Hot Technology, software named in real job postings for this occupation.
Personality fit
What personality type suits a Chief Restructuring Officer?
NueCareer estimate (Holland code ECI) built on O*NET's Chief Executive profile, scored 1 to 7
| Axis | Chief Restructuring Officer |
|---|---|
| Realistic | 1 |
| Investigative | 4 |
| Artistic | 2 |
| Social | 4 |
| Enterprising | 7 |
| Conventional | 5 |
Source: O*NET 31.0 Database
What the work is built around
Day to day this is work built around leading, persuading, selling and making decisions, combined with organising, following procedures and working precisely with data.
- Enterprising7.0
- Conventional5.4
- Investigative3.9
- Social3.5
- Artistic2.2
- Realistic1.3
Closest MBTI types
NueCareer fit scores: cosine similarity between each MBTI type's interest vector and this occupation's O*NET interest profile. Not a BLS or O*NET figure; the method is documented on our methodology page.
Explore further
Careers related to Chief Restructuring Officer
O*NET related occupations
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More management careers
Median annual pay, with chief executives highlighted
- Chief Restructuring Officer$213,990
- IT Manager$175,140
- Marketing Manager$166,790
- Financial Manager$166,570
- Human Resources Manager$149,280
- Sales Manager$148,270
- Construction Manager$114,990
- Supply Chain Manager$107,230
- Property, Real Estate, and Community Association Manager$69,990
| Item | Value |
|---|---|
| Chief Restructuring Officer | $213,990 |
| IT Manager | $175,140 |
| Marketing Manager | $166,790 |
| Financial Manager | $166,570 |
| Human Resources Manager | $149,280 |
| Sales Manager | $148,270 |
| Construction Manager | $114,990 |
| Supply Chain Manager | $107,230 |
| Property, Real Estate, and Community Association Manager | $69,990 |
Source: BLS OEWS, May 2025
Lists Chief Restructuring Officer appears on
Questions
Chief Restructuring Officer: frequently asked questions
How much do Chief Executives make?
BLS does not publish a separate wage for chief executives. It counts them within chief executive, whose median pay is $213,990 a year (BLS OEWS, May 2025). The middle half of that occupation earn between $129,540 and $356,200, and the top 10% earn $507,730 or more.
Do you need a degree to become a Chief Restructuring Officer?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Chief Executives, and O*NET rates the preparation needed as considerable preparation. Employers typically expect 5 years or more of related work experience first. In O*NET's survey of people already doing the job, 45.9% hold master's degree.
Is Chief Restructuring Officer a growing career?
It is stable rather than fast-growing: employment is projected to change 3.2% over 2025–2035, about the same as the 3.5% projected across all occupations (BLS EP, 2025–2035). BLS still projects about 19,100 openings a year, mostly from workers retiring or moving to other work.
What does a Chief Restructuring Officer do?
A chief restructuring officer takes temporary control of key decisions at a company in financial distress. A typical task: build short-term cash flow forecasts and liquidity plans. Employers most often ask for Accounting software, Content workflow software, Data base user interface and query software.
Which states pay Chief Executives the most?
The highest state medians for Chief Executives are Oregon ($341,630), Washington ($339,810), Illinois ($331,920) (BLS OEWS, May 2025). Adjusted for local prices using BEA Regional Price Parities, North Carolina moves to the top at $333,196.
What personality type suits a Chief Restructuring Officer?
O*NET scores Chief Executives highest on the Enterprising, Conventional and Investigative interest areas, so the work mixes leading, persuading, selling and making decisions with organising, following procedures and working precisely with data. On NueCareer's MBTI-to-interest mapping the closest types are ESTJ, ENTJ, ESFJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 1,731 careers in the bank.