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Chief Financial Officer (CFO) Salary

Salaries for Chief Financial Officers in the United States are generous, with average pay above six figures ($126K) per year. Cash earnings for Chief Financial Officers — which occasionally include more than $61K from bonuses and more than $31K from profit sharing — stretch from around $65K to approximately $244K. Location and career duration each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to a large number, and the greater part earn dental coverage. The majority of Chief Financial Officers (67 percent) survey respondents are male. Most Chief Financial Officers like their work and job satisfaction is high. This report is based on answers to PayScale's salary questionnaire.
$65,200 - $202,645
(Median)
$65K
$120K
$200K
MEDIAN: $118,668
10%
50%
90%

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$15.76 - $69.91
(Median)
$16
$26
$70
MEDIAN: $25.00
10%
50%
90%

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Show Annual Salary Show Hourly Rate
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
$65,200 - $202,645  
   
Bonus
$511 - $60,831  
Profit Sharing
$1,930 - $31,143  
Commission
$0.00 - $35,117  
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).
)
$65,133 - $243,685  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 8,545
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
$15.76 - $69.91  
   
Overtime
$0.00 - $76.99  
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
$511 - $60,831  
   
Commission
$0.00 - $35,117  
Profit Sharing
$1,930 - $31,143  
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).
)
$65,133 - $243,685  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 218
United States (change)

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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Though not the most common occurrence, Chief Financial Officers sometimes become Presidents and COOs, where the average income is $178K per year. Career advancement for the typical Chief Financial Officer often leads to becoming a VP of Finance or Chief Financial Officer or a Chief Executive Officer; median salaries in these positions are $15K higher and $41K higher, respectively.

Chief Financial Officer (CFO) Job Listings

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Popular Skills for Chief Financial Officer (CFO)


Survey participants wield an impressively varied skill set on the job. Most notably, facility with Strategic Planning, Financial Modeling, and Senior Financial Management are correlated to pay that is significantly above average, leading to increases of 28 percent, 17 percent, and 9 percent, respectively. Those listing General Ledger Accounting as a skill should be prepared for drastically lower pay. Microsoft Excel and Human Resources also typically command lower compensation. Most people familiar with Financial Analysis also know Senior Financial Management, Budget Management, and Accounting.

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. The average worker who claims fewer than five years of experience earns around $84K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $106K. Chief Financial Officers see a median salary of $131K after reaching one to two decades on the job. 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 $143K.

Pay Difference by Location


For Chief Financial Officers, working in the bustling city of New York has its advantages, including an above-average pay rate. Chief Financial Officers will also find cushy salaries in San Francisco (+47 percent), Chicago (+33 percent), Boston (+29 percent), and Los Angeles (+25 percent). Trailing the national average by 4 percent, Phoenix is the market with the smallest paychecks.

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

Experience Affects Chief Financial Officer (CFO) Salaries



National Average
$126,000



Skills That Affect Chief Financial Officer (CFO) Salaries





Forecasting
up arrow 4%

National Average
$126,000

Cash Flow Management
up arrow 3%

Financial Reporting
up arrow 4%





up arrow 11%


Microsoft Excel
up arrow 19%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 2343 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
48%

Common Health Benefits

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