Chief Financial Officer (CFO) Salary

Salaries for Chief Financial Officers in the United States are generous, with average pay above six figures ($120K) per year. In the world of Chief Financial Officers, overall income ranges from $66K near the bottom to $244K at the top; this can include more than $61K from bonuses and more than $38K from profit sharing in exceptional cases. The most important factor affecting compensation for this group is the company, followed by the particular city and years of experience. Medical benefits are awarded to a large number, and more than half earn dental coverage. Men account for the majority of Chief Financial Officers who responded to the questionnaire — 67 percent to be exact. Job satisfaction is reported as high by the vast majority of workers. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$66,369 - $203,182
(Median)
$66K
$120K
$200K
MEDIAN: $119,770
10%
50%
90%

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$15.92 - $72.25
(Median)
$16
$27
$72
MEDIAN: $27.00
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
$66,369 - $203,182  
   
Bonus
$487.22 - $60,671  
Profit Sharing
$1,510 - $38,186  
Commission
$0.00 - $29,799  
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).
)
$66,487 - $243,850  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 8,601
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
$15.92 - $72.25  
   
Overtime
$0.00 - $78.37  
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
$487.22 - $60,671  
   
Commission
$0.00 - $29,799  
Profit Sharing
$1,510 - $38,186  
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).
)
$66,487 - $243,850  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 224

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Job Description for Chief Financial Officer (CFO)

The Chief Financial Officer (CFO) is a top executive position among all businesses in which the position is incorporated. CFOs are the head in almost all financial decisions within a business and they only report to CEOs of the company. A company's success relies heavily on the wherewithal and business savvy of the CFO.

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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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It's not very common for Chief Financial Officers to move on to become Presidents and COOs. Average pay for a President and COO is $178K annually. Typical career progression for a Chief Financial Officer involves becoming a VP of Finance or Chief Financial Officer or a Chief Executive Officer, roles that pay $14K more and $40K more on average.

Chief Financial Officer (CFO) Job Listings

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Popular Employer Salaries for Chief Financial Officer (CFO)


Popular Skills for Chief Financial Officer (CFO)


Survey participants wield an impressively varied skill set on the job. Most notably, facility with Strategic Planning, Leadership, and Financial Modeling are correlated to pay that is significantly above average, leading to increases of 24 percent, 19 percent, and 16 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 who know Financial Analysis also know 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.


Chief Financial Officers generally obtain higher compensation for more plentiful past experience. 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 $108K on average — a distinctly larger sum. Chief Financial Officers claiming one to two decades of experience make an estimated median of $132K. Chief Financial Officers who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $145K.

Pay Difference by Location


New York is home to an above-average pay rate for Chief Financial Officers, 51 percent higher than the national average. Chief Financial Officers will also find cushy salaries in San Francisco (+50 percent), Chicago (+32 percent), Boston (+29 percent), and Washington (+25 percent). Those in the field find the lowest salaries in Phoenix, 4 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

United States (change)

Experience Affects Chief Financial Officer (CFO) Salaries



National Average
$128,000



Skills That Affect Chief Financial Officer (CFO) Salaries


Leadership
up arrow 19%




Forecasting
up arrow 4%

National Average
$128,000

Cash Flow Management
up arrow 3%

Financial Reporting
up arrow 4%





up arrow 12%



Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 2052 votes.

Gender

Female
33 %
Male
67 %

Years of Experience

Less than 1 year
1%
1-4 years
8%
5-9 years
10%
10-19 years
33%
20 years or more
49%

Common Health Benefits

medical benefits Medical: 87% dental benefits Dental: 66%
vision benefits Vision: 47% employee benefits None: 11%