See below for detailed information on the average chief financial officer salary. That, though, is changing, with more medium-sized businesses, and start-ups in particular, introducing the role. A CFO can be instrumental in creating a financial plan aligned with business goals, managing risk, controlling costs and improving cashflow. They can also be extremely influential when a business is, for example, going through a merger, acquisition or IPO. Other firms rely on an outsourced, part-time CFO, or hire one on a per-project basis.
- This varies by industry and company size, as indicated by BLS data for top executives.
- Equity awards comprised 56% of total compensation for CFOs, indicating a continued focus on aligning executive interests with shareholder value.
- In today’s data-driven world, CFOs with strong skills in data analysis and digital technology are in high demand.
Industries with higher revenue potential or more complex financial structures may offer higher salaries to attract top talent. Understanding these factors can help both employers and potential CFOs gauge what to expect in terms of compensation. Preparing and presenting financial reports to stakeholders, including shareholders, the board of directors, and regulatory bodies. The modern CFO is not just a financial gatekeeper but also a strategic partner to the CEO, involved in decision-making processes that impact the entire organization.
best-paying cities for CFO (Chief Financial Officer)
Click on search button below to see Chief Financial Officer job openings or enter a new job title here. Analyze the market and your qualifications to negotiate your salary with confidence. After I got my undergrad degree, my first job was as a statistical economist with the Bureau of Labor Statistics.
For those exploring the changing dynamics of CFO salaries, Salary.com offers detailed insights through our Job Trending in CA Labor Market analysis. As of December 01, 2024, our research highlights a notable shift in CFO compensation over the past six years. For instance, the median salary has moved from $275,432 in 2023 to about $273,356 in 2024 (for a comprehensive analysis of CFO salary trends, click here). It’s crucial to consider several elements, including geographical location, experience level, industry demand, and economic development, as they play a significant role in influencing salary variations. For those exploring the changing dynamics of Chief Financial Officer salaries, Salary.com offers detailed insights through our Job Trending in CA Labor Market analysis.
Experience:
A chief financial officer, or CFO, is essentially the person holding the purse strings within an organization, overseeing every aspect of its finances. The CFO will provide financial advice to the CEO and board on, for instance, potential mergers and acquisitions, budgeting and obtaining debt and equity financing. The position of CFO is one of the most senior roles within a business, and, as you’d expect, requires a high level of education and experience. Here’s a look at what the job involves, and how to work your way up to the role. This article offers a precise breakdown of the “average CFO salary by company size” across different business scales. Uncover the numbers that reflect what CFOs earn in small businesses to large corporations, equipping you with the data to understand these financial leadership roles.
How much does salary of Chief Financial Officer vary from city to city?
Workplace-related perks can include a dedicated parking space, large offices, and private bathrooms, among others. The average yearly salary of a chief financial officer (CFO) can vary based on several factors. The job of chief financial officer requires far more than just a good head for figures.
This includes managing risks, whether it be taking risks or protecting against disruption. The BLS estimates that the number of top executive jobs will grow by 6% from 2023 to 2033. The business of being a CFO will likely change a lot over the next decade, including navigating the rise of cybersecurity and the advancement of technology. New additions to the role include involvement in cybersecurity and environmental, social, and governance initiatives — the latter in particular being of increasing interest to shareholders. Meanwhile the governance aspect of the job is becoming ever more demanding, as regulatory frameworks are becoming increasingly complex.
A bachelor’s degree supplemented by significant experience can lead to a job as cfo full form salary a CFO, but many companies prefer CFOs with a master’s degree. He went from the VP of accounting to the CEO of the steel mill, and ended up growing the company from one U.S. plant to three U.S. plants and three South American plants. The impact of being in a smaller business was alluring in comparison to being one of 3,000 financial team members in a multibillion-dollar worldwide company.