What’s The Average Salary Of A Chief Financial Officer Cfo?

highest paid cfo

The CFO is one of the top officers in a company and usually is paid at a top level. Salary tracking website PayScale.com pegs the median annual CFO salary at about $135,000. “With ever more scrutiny on executive pay, companies that have eschewed making compensation changes at the C-level may face blowback from stakeholders and employees during what is an already volatile and unstable time.” Retail and manufacturing industries’ CFOs experienced the largest percentage increase on average in TDC (6.9%). Healthcare industry CFOs saw a 5.2% increase, while technology and energy industries’ CFOs each experienced a 4.0% increase. Technology CFOs have the highest average compensation at $2,479,656; CFOs of financial services-banking companies fall on the lowest end at $478,408. “CFO compensation continues to be largely based on variable or incentive pay,” Terry Adamson, BDO managing director, said.

highest paid cfo

The CFO is responsible for a company’s finances and advises the chief executive and other executives on money matters. ledger account Our number one, BOA’s Hance, did not cash any stock options in 2002, but he pocketed a $11 million bonus.

They also need to be able to work well with the CEO, board of directors and senior managers. The midpoint starting salary for a CFO in corporate accounting is $196,750, according to the Salary Guide.

Patrick Pichette, GoogleThe No. 3 highest paid CFO is the man behind the search engine. Google’s Patrick Pichette earned a pay package last year valued at $38.7 million, earning him the third spot. He is also senior vice president at Google and has been at the company since August 2008. He earned almost $15 million more than the men who proceed him on our list, but still only half of what the No. 1 CFO made. These charts show the average base salary , as well as the average total cash compensation for the job of Chief Financial Officer in the United States. The base salary for Chief Financial Officer ranges from $300,676 to $502,063 with the average base salary of $395,004. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $377,195 to $796,240 with the average total cash compensation of $544,173.

Average Cfo Salary At A Private Company

There are newcomers to the list like George Davis, who left Qualcomm last year for his new role as CFO at Intel. One familiar face that didn’t make the cut is T-Mobile President of Technology Neville Ray, who made around $26 million in 2018.

highest paid cfo

At the same time, companies must ensure that pay incentivizes and motivates executives towards results. The Bank of America finance chief wasn’t alone in seeing his pay package rejiggered last what are retained earnings year. CFO salaries, like those of other accounting and finance professionals, vary by size of company, region and industry, not to mention the impact of bonuses, stock awards and dividends.

Cbs Cfo Without Location 2 Salaries

This is the first time that a woman topped the CFO compensation league table. Another woman, Hon Hing Hui , is No. 7 as Group CFO of Hong Kong telco PCCW (US$4.2 million) and also No. 20 as Group CFO of HKT Trust and HKT Limited (US$2.6 million), QuickBooks which is majority owned by PCCW. Combining her compensation for the two jobs effectively places her second to Yu in the league table. There’s a lot of movement in this year’s list of Asia’s Millionaire CFOs and promotion is one of the reasons.

One reason why last year’s best paid CFO, QBE Insurance’s Patrick Regan, fell to No. 44 this year is the smaller value of his stock award, at US$2.1 million versus US$3 million in 2015. (His total compensation is down minus-44% in this year’s list.) So think long and hard before agreeing to replace a portion of your salary with option and stock awards.

By leveraging the multiplier effect of savings on valuation, cash management can be your secret weapon. Pay levels for CFOs are approximately 42% of CEO pay, according to a BDO study. The study involved analysis of 600 companies’ 8K SEC filings between March and June. Human Capital & Careers How Much Industry Experience Does Your New CFO Need?

highest paid cfo

CFO David Denton left CVS for Lowe’s at what many would consider a bad time. Even though the CVS stock prices had been steadily dropping since July 2015, it had started to climb the 5 months prior to Denton leaving. Undeterred, Denton didn’t look back and neither did Lowe’s and their stock has risen 13.3% since he changed rosters.

Recent Cfo Chief Financial Officer Salaries In Denver

We’ve talked to a lot of small business owners and CFO candidates, and we’ve documented 27 questions to help you pinpoint the best partner. At Driven Insights, we provide remote CFO services for a number of companies in a wide range of markets. Our CFO-led services include controller and bookkeeping as well so that you can outsource your entire finance department to keep things running efficiently and often at a much lower cost than an in-house team. There are obviously several variables which play into the size of businesses who have full-time CFOs, but we often see that companies start looking for an full-time CFO when they reach $35-50MM in annual revenue. As a point of reference, it may be helpful to know what larger, public companies pay CFOs. If you have to go with someone outside of your industry or current growth phase, adjust your pay rate accordingly.

  • Serving on a board gives you an up-close look at the financial strategies of a different business and in a fresh context.
  • However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world.
  • The leading earner in that survey, Sun Microsystems’ Michael Lehman, reeled in $36 million by exercising his options in 2001.
  • He has been serving Intel Corporation since January 2019 with his distinguished abilities as a CEO.
  • His previous jobs included COO of Silver Spring Networks, and CFO of Electronic Arts Inc.
  • Healthcare industry CFOs saw a 5.2% increase, while technology and energy industries’ CFOs each experienced a 4.0% increase.

The business of being a CFO will likely change a lot over the next decade, including navigating the rise of cybersecurity and the advancement of technology. The Bureau of Labor Statistics estimates that the number of top executive jobs will grow by 4% from 2019 to 2029. The CFO is generally responsible for all budgeting, financial goal setting, and related financial reporting—including financial statement construction and review. Arguably, there has always been a need for CFOs, however, the position really only came about in the 1960s.

In line with the decline in median total compensation, 32 CEOs of the largest U.S. companies saw a smaller pay package in 2020 than a year earlier. Twenty-three CEOs saw compensation dip in 2019, according to the report. The interplay of salary, option and stock awards and performance bonus is an important factor for CFOs to consider when negotiating their compensation package. In this and previous rankings, the most stable component is the annual salary; the value of stock and option awards fluctuates wildly.

Access Detailed Compensation Data

The CEOs of Centene, HCA Healthcare and AbbVie are among the highest-paid chief executives of the largest U.S. companies, according to Equilar. CBS CFOS earn $225,000 annually, or $108 per hour, which is 46% higher than the national average for all CFOS at $141,000 annually and 109% higher than the national salary average for ​all working Americans. The highest paid CFOS work for Diamond Resorts International at $351,000 annually and the lowest paid CFOS work for City of Lake Village at $38,000 annually. Litfeed Limited uses cookies and similar technologies on this LitKenya News site to provide you with website services and personalized content. For details on how Litfeed processes your data and uses cookies please see our privacy and cookies notice.

Private Company Finance Team Member Salaries In 2021

The average yearly salary of a chief financial officer can vary based on a number of factors, but the median compensation for a CFO in the U.S. as of May 2021 was $393,377 per year, according to Salary.com. CFOs within the bottom 25th percentile should expect to earn $299,442 per year, while those in the 75th percentile should expect to earn $499,992 per year. With just twenty nine years in his birth certificate, Lisenby has been serving as the CFO and vice president of Rice Energy since 2013 and 2015 respectively. Before that, he worked at Natural Gas Partners as an investment professional.

Like Sherin, he is also the company’s vice chairman, but he made about $3 million more last year, with his pay package totaling $23.2 million. Also similar to GE’s CFO, Angelakis’s awards are now more closely tied to his ability to meet performance targets. While his predecessors were likely subject to automatic vesting at scheduled dates, Angelakis’ money is more dependent on the execution of his work. Whether you want to be a small fish in a big pond, or vice versa, CFO pay will vary based on company size. Here’s a breakdown of average salary for a CFO in everything from a startup to a large public company. A chief financial officer in the U.S. can expect to make anywhere from $130,000-$462,923 per year.

Either way, CFO compensation is likely to be less dependent on stock options in coming years — even if the stock market hits a good stretch. Recent financial scandals have tainted the granting of lavish stock options to senior highest paid cfo managers, and powerful institutional investors are now demanding that companies devise different ways to provide incentives to managers. While Bronson did not receive a bonus, he did cash in about $2 million in stock options.

How To Become A Cfo

While all CFOs can end up making great money for most of their career, early decisions like what school you go and whether you pursue graduate studies definitely make a difference. Going after accounting certifications like CMA or CPA and pursuing the right job experience will also increase your earning power as a CFO. This article will break down average CFO salary ranges, how much you can make as a CFO in different kinds of companies.


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