Chief Financial Officer (CFO) Salary

Chief Financial Officers enjoy a hefty income, with average pay passing six figures ($120K) annually in the United States. In the world of Chief Financial Officers, total cash compensation can vary between $67K and $245K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $61K and $35K, respectively. While geography and years of experience impact pay for this group, the company is the most influential factor. Most Chief Financial Officers report high levels of job satisfaction. Most people who answered the questionnaire are men; 66 percent of Chief Financial Officers are male. Most report receiving medical coverage from their employers and the larger part collect dental insurance. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$66,755 - $203,874
(Median)
$67K
$120K
$200K
MEDIAN: $120,387
10%
50%
90%

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$16.42 - $73.32
(Median)
$16
$28
$73
MEDIAN: $28.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$90K$180K$270K
Salary
$66,755 - $203,874  
   
Bonus
$306.17 - $60,830  
Profit Sharing
$1,797 - $34,760  
Commission
$0.00 - $25,677  
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).
)
$66,902 - $245,065  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 8,611
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50$100$150
Hourly Rate
$16.42 - $73.32  
   
Overtime
$0.00 - $86.78  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$100K$200K$300K
Bonus
$306.17 - $60,830  
   
Commission
$0.00 - $25,677  
Profit Sharing
$1,797 - $34,760  
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).
)
$66,902 - $245,065  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 211
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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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While not commonly seen, Chief Financial Officers who transition into a President and COO position may see a rise in pay. The median salary for Presidents and COOs is $178K per year. Chief Financial Officers moving up in their careers tend to step into positions as VPs of Finance and Chief Financial Officers or Chief Executive Officers. The median paychecks in those roles are $12K higher and $38K higher, respectively.

Chief Financial Officer (CFO) Job Listings

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Popular Employer Salaries for Chief Financial Officer (CFO)


Abc Corp. does shell out the biggest paychecks — the median in that office is $201K — but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $59K while workers on the upper end may rake in up to $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 report using a large range of skills on the job. Most notably, facility with Leadership, Strategic Planning, and Financial Modeling are correlated to pay that is significantly above average, leading to increases of 23 percent, 21 percent, and 15 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. Most people skilled in Financial Analysis are similarly competent in 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 is an important factor influencing the compensation of Chief Financial Officers. Salaries of relatively inexperienced workers fall in the neighborhood of $86K, but folks who have racked up five to 10 years see a notably higher median of $109K. The average pay reported by folks with 10 to 20 years of experience is around $133K. Chief Financial Officers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $145K.

Pay Difference by Location


New York offers some of the highest pay in the country for Chief Financial Officers, 53 percent above the national average. Chief Financial Officers can also look forward to large paychecks in cities like San Francisco (+48 percent), Boston (+32 percent), Chicago (+31 percent), and Washington (+22 percent). The smallest paychecks in the market, 3 percent south of the national average, can be found in Phoenix.

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.

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Experience Affects Chief Financial Officer (CFO) Salaries



National Average
$129,000



Skills That Affect Chief Financial Officer (CFO) Salaries

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1826 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
32%
20 years or more
49%

Common Health Benefits

medical benefits Medical: 87% dental benefits Dental: 66%
vision benefits Vision: 48% employee benefits None: 11%
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