Directors

1) A Managing Director is more senior but the exact difference depends on what job role you're looking at.

Generally a Director will be a senior Head of Department with line management and strategy responsibilities. Smaller support departments (ex: PR, Compliance or HR) will be led by a Director, larger more commercial departments (ex: Sales) will have several Directors reporting into a Managing Director.

Generally Managing Directors are the people who get to make all the important decisions about budgets and the future direction of the business. Both job roles can commit the business but there will be rules in place stating that contracts over a certain size have to be referred to a MD.