For medium-sized companies with revenue between $50 million and $1 billion, the range increases to $250,000 to $400,000. Approach the discussion with a collaborative mindset, aiming for a compensation package that reflects your value to the company while aligning with its financial capabilities. Negotiate for bonuses, stock options, retirement plans, and other benefits that can enhance your overall compensation. This significant increase suggests a growing emphasis on equity-based compensation as part of the total pay package. These plans can include a mix of restricted stock, stock options, and other performance-based awards.
Chief Financial Officer (CFO)
Their compensation reflects this complexity, varying by company size, industry, and location. While base salaries for CFOs are substantial, total compensation often includes bonuses and equity grants, particularly in startups. The average cash compensation for a CFO in a private company with less than $20MM in annual revenue is $194,354.
- CFOs must also adhere to regulations such as the Sarbanes-Oxley Act that include provisions such as fraud prevention and disclosing financial information.
- The job of chief financial officer requires far more than just a good head for figures.
- CFOs at private companies with annual revenue between $21MM and $99MM earned an average base salary of around $237,983.
- As businesses become more global and complex, CFOs with international experience and the ability to manage cross-border financial operations might see higher pay prospects.
- CFOs are now expected to be commercially minded strategic thinkers who can react to changes and influence decision-making across the organization.
What kind of job did you get after graduating with your bachelor’s? After your MBA?
As of December 01, 2024, the average annual pay of Chief Financial Officer in the United States is $447,737. While Salary.com is seeing that Chief Financial Officer salary in the US can go up to $698,842 or down to $238,988, but most cfo full form salary earn between $338,470 and $579,175. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Chief Financial Officer in the United States. The salary of a Chief Financial Officer in the United States varies depending on several factors, including experience, location, education level, marketing trend and company sizes. CFOs supervise the finance and accounting personnel in a company and track cash flow. They analyze financial data, identifying strengths and weaknesses and implementing short- and long-term financial plans for a company.
Average Annual Salary of Chief Financial Officer Over Time
As of December 01, 2024, our research highlights a notable shift in Chief Financial Officer compensation over the past six years. For instance, the median salary has moved from $275,432 in 2023 to about $273,356 in 2024 (for a comprehensive analysis of Chief Financial Officer salary trends, click here). The primary factors that impact the median salary of a CFO include geographic location, and the experience and personal qualifications of the person. Base salary and bonuses make up roughly 80% of the total compensation a CFO should receive within a given year.
In 2023, the average base salary for a startup CFO can vary widely depending on the stage and size of the company, with some earning between $150,000 to $250,000 per year. CFO compensation can be significantly influenced by the financial climate and market trends. For instance, in Q4 of 2023, 80% of CFOs received raises with one-third seeing up to a 25% increase in total compensation, reflecting the competitive nature of executive compensation in the finance sector. Interestingly, despite salary increases, CFO bonuses decreased by 12% on average, indicating a shift in compensation structures possibly influenced by market trends.
Average Salary
After I received my MBA from Indiana University, I chose to go to work for Intel. I had interned there the prior summer and found the environment very exciting. It was a very collaborative environment, especially because the finance department played a business partnership role with other departments. I would sit on staff meetings with the operations managers, engineers, and the marketing team. This taught me the value of being part of a team and why it’s important everyone holistically understands a business’s operations.
CFOs in companies with annual revenue ranging from $21 to $99 million make an average base salary of $237,983. The job also involves handling functions such as capital budgeting, obtaining debt and equity financing, and managing investor relations. When required, the CFO will also advise on potential mergers and acquisitions targets and initial public offerings. There’s a strong element of regulatory compliance to the job, with the CFO required to make sure that the company’s financial reports are accurate, comprehensive and submitted on time. The role has always been a central one to large public companies with multi-million revenues, but is becoming increasingly common in medium-sized and even small firms.