Chief Financial Officer (CFO) Salary

On average, Chief Financial Officers in the United States earn six-figure salaries ($122K) annually, making for a very well-paid profession. With some bonuses approaching $66K and certain profit sharing proceeds approaching $45K, overall incomes of Chief Financial Officers spread between $67K and $252K depending on individual performance. While geography and years of experience impact pay for this group, the company is the most influential factor. Medical benefits are awarded to most, and the larger part earn dental coverage. Job satisfaction for Chief Financial Officers is high. Men make up the majority of Chief Financial Officers (66 percent) survey respondents. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$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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At the upper end, Chief Financial Officers who move into a President and COO role can end up with a hefty increase in pay. The average income for Presidents and COOs is a much higher $178K per year. The most common next step for a Chief Financial Officer is to become a VP of Finance or Chief Financial Officer or a Chief Executive Officer. The former position pays an additional $13K per year on average, and the latter position pays $38K more per year.

Chief Financial Officer (CFO) Job Listings

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Popular Employer Salaries for Chief Financial Officer (CFO)


Chief Financial Officers flock to Abc Corp. for generous paychecks, where average earnings of $201K lead the pack in compensation; however, Abc Corp. also provides employees with a wide spectrum of compensation ranging from $59K at one end to $348K at the other end.

YMCA lags the field greatly in terms of pay, offering a median salary 242 percent less than the top paying company ($59K).

Popular Skills for Chief Financial Officer (CFO)


Survey results imply that Chief Financial Officers deploy a deep pool 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 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. It is often found that people who know Financial Analysis are also skilled 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 seems to be a major factor in determining the incomes of Chief Financial Officers. Although employees with less than five years' experience earn around $86K on average, the five-to-10 year group has a much higher, six-figure median of $109K. After working for 10 to 20 years, Chief Financial Officers make a median salary of $135K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $147K.

Pay Difference by Location

National Average: $130,457

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

For Chief Financial Officers, busy New York offers a higher-than-average pay rate, 54 percent above the national average. 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). Falling short of the national average by 5 percent, the area with the worst salaries is 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.

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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