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Chief Financial Officer (CFO) Salary

Chief Financial Officers in the United States can look forward to a sizeable six-figure salary — around $120K per year on average. Total cash earnings of Chief Financial Officers range from $67K on the low end to $246K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $61K and $35K, respectively. The specific employer is the main element affecting pay for this group — the particular city and tenure are driving factors as well. Work is enjoyable for Chief Financial Officers, who typically claim high levels of job satisfaction. More than half of Chief Financial Officers (67 percent) survey respondents are men. Medical benefits are awarded to a large number, and the larger part earn dental coverage. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$66,732 - $204,105
(Median)
$67K
$120K
$200K
MEDIAN: $120,242
10%
50%
90%

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$16.29 - $73.16
(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
$66,732 - $204,105  
   
Bonus
$354.16 - $61,320  
Profit Sharing
$1,722 - $35,404  
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).
)
$66,965 - $245,579  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 8,618
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
$16.29 - $73.16  
   
Overtime
$0.00 - $87.01  
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
$354.16 - $61,320  
   
Commission
$0.00 - $25,677  
Profit Sharing
$1,722 - $35,404  
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).
)
$66,965 - $245,579  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 213
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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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Though not the most common occurrence, Chief Financial Officers sometimes become Presidents and COOs, where the average income is $178K per year. VPs of Finance and Chief Financial Officers or Chief Executive Officers are common next-step roles for Chief Financial Officers moving up in their careers; annual pay for VPs of Finance and Chief Financial Officers is $14K higher on average, and it's $40K higher for Chief Executive Officers.

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)


Chief Financial Officers seem to exploit a large range of skills on the job. Lucky workers who know Leadership can expect a significant pay bump, scoring salaries 22 percent above average. Strategic Planning and Financial Modeling are also correlated to pay that is above average, with increases between 15 percent and 22 percent. Those listing General Ledger Accounting as a skill should be prepared for drastically lower pay. Human Resources and Budgeting also typically command lower compensation. Those proficient in Financial Analysis are, more often than not, 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 and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Although employees with less than five years' experience earn around $87K 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 $133K. 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


For Chief Financial Officers, New York provides a pay rate that is 52 percent greater than the national average. Chief Financial Officers will also find cushy salaries in San Francisco (+48 percent), Chicago (+31 percent), Boston (+25 percent), and Washington (+23 percent). Those in the field find the lowest salaries in Phoenix, 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
$129,000



Skills That Affect Chief Financial Officer (CFO) Salaries

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1935 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
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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