Chief Financial Officer (CFO) Salary

Chief Financial Officers enjoy a hefty income, with average pay passing six figures ($122K) annually in the United States. In the world of Chief Financial Officers, overall income ranges from $67K near the bottom to $252K at the top; this can include more than $66K from bonuses and more than $45K from profit sharing in exceptional cases. The specific employer is the main element affecting pay for this group — geography and experience level are driving factors as well. Male Chief Financial Officers who responded to the survey are more common than women; more than half (66 percent) are men. Medical benefits are awarded to most, and the greater part earn dental coverage. Job satisfaction for Chief Financial Officers is high. The data in this summary comes from the PayScale salary survey.

$67,176 - $208,100
(Median)
$67K
$120K
$210K
MEDIAN: $121,942
10%
50%
90%

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$16.45 - $76.97
(Median)
$16
$31
$77
MEDIAN: $30
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$90K$180K$270K
Salary
$67,176 - $208,100  
   
Bonus
$102.04 - $65,854  
Profit Sharing
$1,401 - $45,075  
Commission
$0.00 - $60,402  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$67,416 - $251,604  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 9,022
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50$100$150
Hourly Rate
$16.45 - $76.97  
   
Hourly Tips
$1.05  
Overtime
$0.00 - $87.08  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$100K$200K$300K
Bonus
$102.04 - $65,854  
   
Commission
$0.00 - $60,402  
Profit Sharing
$1,401 - $45,075  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$67,416 - $251,604  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 222
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Job Description for Chief Financial Officer (CFO)

Chief financial officers (CFOs) oversee the financial operations of their companies and provide leadership and focus to accounting and finance departments to ensure that they operate efficiently and comply with applicable laws and company policies. Their work is essential to project a favorable company image while saving money in every way possible.

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Chief Financial Officer (CFO) Tasks

  • Provide leadership and coordination in the administrative, business planning, accounting and budgeting efforts of the company.
  • Prepare or direct preparation of financial statements, business activity reports, financial position forecasts, annual budgets, and/or reports required by regulatory agencies.
  • Develop internal control policies, guidelines, and procedures for activities such as budget administration, cash and credit management, and accounting.

Common Career Paths for Chief Financial Officer (CFO)


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For Chief Financial Officers, progressing to a President and COO role may result in a significant raise. On average, a President and COO can earn $178K annually. Chief Financial Officers typically move into roles as VPs of Finance and Chief Financial Officers or Chief Executive Officers, and those positions pay $13K more and $38K more, respectively.

Chief Financial Officer (CFO) Job Listings

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Popular Employer Salaries for Chief Financial Officer (CFO)


The biggest paychecks can be found at Abc Corp. — the median salary there is $201K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $59K and highest ones in the neighborhood of $348K.

With a median salary of only $59K (242 percent less than the top paying company), YMCA lags significantly in the earnings department.

Popular Skills for Chief Financial Officer (CFO)


Chief Financial Officers seem to require a rather large skill set. Most notably, facility with Leadership, Strategic Planning, and Financial Modeling are correlated to pay that is significantly above average, leading to increases of 22 percent, 19 percent, and 17 percent, respectively. Those listing General Ledger Accounting as a skill should be prepared for drastically lower pay. Human Resources and Budgeting also typically command lower compensation. For most people, competency in Financial Analysis indicates knowledge of Senior Financial Management, Accounting, and Budget Management.

Pay by Experience Level for Chief Financial Officer (CFO)

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience seems to be a major factor in determining the incomes of Chief Financial Officers. Those in the early stages of their career can expect to make around $86K; however, individuals with five to 10 years of experience bring in $109K on average — a distinctly larger sum. For Chief Financial Officers, 10 to 20 years of experience on the job amounts to an average salary of $135K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $147K.

Pay Difference by Location

National Average: $130,457

Larger city markers indicate a job is popular in that location.

With a pay rate for Chief Financial Officers that is 54 percent greater than the national average, New York offers a comfortable salary for those in this profession. Chief Financial Officers can also look forward to large paychecks in cities like San Francisco (+44 percent), Boston (+43 percent), Chicago (+34 percent), and Houston (+23 percent). The lowest-paying market is Phoenix, which sits 5 percent below the national average.

Chief Financial Officer (CFO) Reviews

What is it like working as a Chief Financial Officer (CFO)?

Chief Financial Officer (CFO) in Boise:
"Love It."
Pros: There's usually a right way and a wrong way to do most tasks.
Cons: The workload is enormous most of it is thankless non glamorous.

Related Job Salaries

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Experience Affects Chief Financial Officer (CFO) Salaries



National Average
$130,000



Skills That Affect Chief Financial Officer (CFO) Salaries





Forecasting
up arrow 3%

National Average
$130,000

Operations Management
up arrow 1%

Cash Flow Management
up arrow 4%






up arrow 14%



Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1624 votes.

Gender

Female
34 %
Male
66 %

Years of Experience

Less than 1 year
1%
1-4 years
8%
5-9 years
10%
10-19 years
31%
20 years or more
50%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 67%
medical benefits
Vision: 49%
dental benefits
None: 11%
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