As you begin your search to fill the CFO role, whether part-time or full, there are a few things to consider as you find the right fit for your company. Salary ranges can vary … As we mentioned in Question 3, one great way to evaluate the competence of a CFO prospect is to ask what a superb reporting package looks like. Provide me with an example of an acquisition you’ve been an integral part of? What reporting allowed you to select those levers? Generally, this salary is not inclusive of stock options and other benefits, some of which might add as much as $10 million extra to a CEO… Similarly, organisation size plays a huge role in determining salary. SHRM also reported that annual pay increases are the same for officers and executives as other salaried employees. The average private company CEO total compensation package for 2017 was $2,213,679, but the median was a more modest $350,622. If you had an opportunity for a do-over, what would you change in each? Spreadsheet SaaS financial models stink, whether built in Microsoft Excel or Google Sheets. The salary range varies widely depending on location. 1. Chief executive officers (CEOs) of the largest firms in the U.S. earn far more today than they did in the mid-1990s and many times what they earned in the 1960s or late 1970s. As a point of reference, it may be helpful to know what larger, public companies pay CFOs. What's the average Chief Financial Officer (CFO) salary in the United States in 2021? Salary ranges can vary … In 2017, a CFO working at a company that generates less than $100m in annual revenue could expect to earn an average base of $180,765. According to Salary.com the median base salary for a CFO in the United States is $362,030, and the median total compensation package (including bonus, healthcare, and retirement) is $506,386. The national average salary for a CEO is $151,987 in United States. CFOs for private companies with $21-$99MM in annual revenue make an average of $237,983 in base salary. What are the key customer segments your current company sells to? 18. How have those evolved and what are the key drivers. And this growing power at the top has been driving the growth of inequality in our country. 4. Each industry has its quirks. You can see how those services are structured in the graphic below. A 2015 survey by Jobvite indicates that while average jobs are filled in 43 days, it takes an average of 71 days to fill a C-level position and 76 days for a position with "director" or "vice president" in the title. Learn about salaries, benefits, salary satisfaction and where you could earn the most. Filter by location to see Chief Financial Officer salaries in your area. Your company’s revenue More company … The average salary for a Chief Financial Officer (CFO) is $136,105. How would you describe your strengths in the following areas: accounting, FP&A, stakeholder management, M&A and international? 7. NOTE: Download our free Executive Growth Reports now to see what a top-rate reporting package looks like. A sale or divestment? CFOs for private companies with $21-$99MM in annual revenue make an average of $237,983 in base salary. How about your board? … What are three ways in which your current CEO would say you’ve been indispensable? The following charts show average annual salary increases, and base salaries by title for public and private companies. For instance, a CFO in Keya Paha, Nebraska, near the South Dakota border, will expect the lowest salary in the country at $284,250 and a compensation package totaling $354,259. Have they ever been an issue? When you are deciding what to pay a CFO, here are five factors you should consider. The complete range of salaries varies from $50,500 to $133,400 with influencing factors including company size and location. Average CFO (Chief Financial Officer) Salary by Company Size People with the job title CFO … 8. 3. 14. Who owns and drives the business model in your company? IT? The national average salary for a Chief Financial Officer is $152,239 in United States. You’re not alone and you’ve come to the right place. Do you consider yourself a “strategic CFO” and what examples in your career lead you to that definition? What kind of pay increases will a CFO expect from year to year? The responsibilities of a CFO very by company size as well as by industry. 213 School Street, Suite 301, Gardner, MA 01440  (888) 631-1124 info@driveninsights.com. On average, public companies tend to pay slightly higher than private companies and areas with a higher cost of living tend to pay slightly more than areas with a more moderate cost of living. The majority of public company CFO positions that we work on consist of three main compensation components: base salary, bonus and equity. An average CFO in San Francisco, however, will ask for nearly double that salary at $451,070 and total compensation of $724,006. What was the quantifiable impact of your influence? Well, that... No one likes to imagine the worst-case scenario. 2017 CEO Compensation. The average yearly salary of a chief financial officer (CFO) can vary based on a number of factors, but the median compensation for a CFO in the U.S. as of April 2019 was $371,548 … Someone with an intimate knowledge of your niche can save you a lot of headaches, time, and money by anticipating trends and helping you develop strategies in response to those trends. If any of that bonus, say $500,000, does not vary with performance, then the CEO's salary is really $1.5 … Explain the evolution of the product and pricing strategy of your current/previous company. How have you influenced the purchasing process? As a frame of reference, that median base CFO salary in the US of $362,030 would be $174/hour. Provide me with two examples of how you’ve filled the role of controller and even bookkeeper in the past six to 12 months. Median&CEO&Base&Salary&by&Company&Revenue& as&a&%of&Overall&Median& 0% 100% 200% 300% 400% 500% 600% 700% 800% <$2# million# $2#to# $4.9 million# $5#to# $9.9 … Rather talk in person? … Download our free Executive Growth Reports now to see what winning CEOs and CFOs use to track the metrics which matter most. Why? The following compensation information should be used as a general guide to determine what a certain-sized company might expect to pay on average for a highly-qualified CFO. Many have the ability to pay out higher. According to PayScale.com, the median compensation package for a small business controller is $80,296. These are very general salary ranges and there are many unique factors that could cause these ranges to shift in one direction or the other. At median, CEO pay was 3.0x the CFO; i.e., for every $1.00 paid to the CFO, the CEO was paid approximately $3.00; At median, CEO pay was 4.0x the GC; i.e., for every $1.00 paid to the GC, the CEO was paid approximately $4.00; CAP also analyzed the S&P 500 senior executive … 17. 6. Visit PayScale to research chief executive officer (ceo) salaries by city, experience, skill, employer and more. But 2017 saw another kind of jump: she went back to her accounting roots and took a job as the company's CFO. However, the negotiation of variable salary components based on personal performance of the managing director and the success of the company is becoming increasingly common. Any CEO salary has to get past the Board of Directors, typically disinterested members of the Board. For the companies on our list, the average CEO salary in 2018 was $18,669,849—or just under $9,000 an hour. These outsourced CFO services are often available at a fraction of the cost of a full-time CFO. 25. In other words, if the CFO is going to have to learn on the job, this person won't be quite as valuable as someone with extensive experience relative to your industry and growth stage. ranks number 1 out of 50 states nationwide for CFO salaries. The Department of Labor reports that the highest paid executives worked in technology and … The complete range of salaries varies from $50,500 to $133,400 with influencing factors including company size and location. If you have to go with someone outside of your industry or current growth phase, adjust your pay rate accordingly. The Society for Human Resource Management reported in January that: In the United States, an average 3 percent pay increase is predicted by Korn Ferry, the same as for 2017. What's the average Chief Financial Officer (CFO) salary in the United States in 2021? CFOs for private companies with $21-$99MM in annual revenue make an average of $237,983 in base salary. Another crucial factor is whether the CEO works for a listed company. Copyright 2015. Visit PayScale to research chief financial officer (cfo) salaries by city, experience, skill, employer and more. Individual salaries vary widely, of course, tending to grow in size … 2. They also earn far more than the typical worker, and their pay has grown much more rapidly. Filter by location to see CEO salaries in your area. Generally speaking, the larger the company, the higher the average CFO salary range and the higher the total compensation package. Well, that depends on the size of your business and whether your business is located in Keya Paha, Nebraska (lowest salary) or San Francisco, California (highest salary). We'll give some specific numbers below, but first, we want to provide some advice on a topic which may play into how much you pay a CFO. Give me an example of a landmark decision that was made in the product strategy, what data informed that decision and your opinion of that decision. Many companies take their time with the recruiting process and opt for an interim CFO service so that they are not rushed into a bad decision. $10 – $40 Million $41 – $100 Million $101 – $300 Million $301 – $500 Million $501 – $999 Million. Copyright © 2014-document.write(new Date().getFullYear()) Driven Insights LLC. Bonus structures vary greatly from one organization to another. What are DSO - days sales outstanding? Give me examples of successful and unsuccessful equity and debt fundraising efforts you've expereinced. What do you think of ours? , the median compensation package for a small business controller is $80,296. A CEO with a $1 million salary may also receive a $700,000 bonus. 20. Read on and reach out if we can lend a hand. Although less common than public companies, we see a significant number of private companies offering some sort of equity stake in addition to base salary and bonus. Of course the CEO makes the … What kind of pay increases will a CFO expect from year to year? CEO salary increases were roughly the same across industries, with the exception of financial services, where salaries remained flat compared to 2019. What is the most challenging part of budgeting for you? What is the toughest finance initiative you have worked on such as cash management, fundraising, cost containment, budgeting, cost allocation, or bankruptcy?22. Salary estimates are based on 910 salaries submitted anonymously to Glassdoor by CEO … Based, CFO Recruitment. Learn more about our outsourced CFO services. In fact, many things can influence an executive salary. Also from PayScale.com, the median compensation package for a small business bookkeeper is $40,838 with a range of $25,102 - $54,434. Average CFO Salary Range by Company Size. What are the three most important KPIs you’d be watching and why? HR? The Conference Board, in collaboration with Arthur J. Gallagher & Co. and MylogIQ, recently released CEO and Executive Compensation Practices: 2017 Edition, which documents … Private Company. 26. How about the next two years? For the 258 companies in the group that retained the same CFO in 2013 and 2014, CFO total direct compensation rose by 9% during the period, from $0.98 million to $1.06 million at the median and $1.17 million to $1.30 million … How has that date changed over the past two years? What is your preferred package? CFO (Chief Financial Officer) Salary … Tell me about your weaknesses in each.24. How do margins and growth vary by segment? 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. 06, Equity stakes can be significant, especially with larger public companies in excess of $500 million. All rights reserved. The most common CFO (Chief Financial Officer) salary in New York is between $220k - $230k. (Private company CFOs make 45% less than those at public companies.) There is no “one size fits all” salary for a chief financial officer. Wondering how to navigate the process of finding the right CFO service for your business? If so, explain. Adjusted for the expected 2 percent inflation rate in 2018, however, the real wage increase is 1 percent—down from last year's 1.9 percent. 1. 10. 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. 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. 27. 5. $10 – $40 Million $41 – $100 Million $101 – $300 Million $301 – $500 Million $501 – $999 Million, $153,400 – $236,600 $166,500 – $262,500 $194,000 – $294,600 $223,400 – $352,200 $244,900 – $443,100, $157,200 – $257,300 $173,500 – $277,100 $209,300 – $314,400 $237,900 – $366,500 $259,000 – $461,500. Tell me a story about how you’ve successfully managed through a cash crisis? 23. 16. The Average CFO Salary (2021) + 27 Key CFO Interview Questions. Of those making reductions, nearly 50% reduced the CEO’s salary … Want to gain full control over your firm’s finances but aren’t sure where to start? Disney's Robert Iger highest-paid CEO making over $65 million in 2018, while Amazon CEO … Walk me through how you would perform a gap analysis of our accounting process and controls and what you’d expect to see. Company Size. Companies in the $500K to $50MM annual revenue range often opt for virtual or part-time CFO services. The Society for Human Resource Management. 15. How about the most challenging? If so, read the comprehensive Outsourced CFO Buyer's Guide. the average cash compensation for a CFO in a private company with less than $20MM in annual revenue is $194,354. These figures include base salary… What levers did you pull to navigate the shortfall? The average Chief Financial Officer salary in the United States is $393,412 as of December 28, 2020, but the range typically falls between $299,478 and $500,033. If so, read the comprehensive, 213 School Street, Suite 301, Gardner, MA 01440, Jan The average salary for a Chief Financial Officer is $134,097 per year in United States. Will it support our growth plans? New Hampshire beats the national average … At an organisation with annual revenues of more than $1bn, the average CFO salary … How has your finance function influenced it? 12. In response to COVID-19, 17% of companies in our analysis temporarily reduced their CEO’s base salary. If your company is in one of the early phases like finding product/market fit, look for a CFO with experience in that phase rather than someone who has worked in larger, mature corporations. The average salary for a Chief Executive Officer (CEO) is $155,376. Generally speaking most Chief Financial Officer positions have an average bonus potential of around 30 – 60% of base salary. CEOs don’t pay themselves — owners pay the CEO. Average Now CFO … Salary estimates … CFO Results. Given our objectives, please walk me through the reporting package you would design and highlight how the insights it produces will inform the decisions required to hit these goals. Importantly, rising CEO pay does not reflect rising value of skills, but rather CEOs’ use of their power to set their own pay. How have you improved the accounts receivable cycle at your company? (Private company CFOs make 45% less than those at public companies.) We’ve identified four states where the typical salary for a CFO job is above the national average. According to the NonProfit Times, a business journal aimed at nonprofit managers, the average salary for nonprofit CFO in 2019 was $115,728 . Nationwide, Contingency How does your current company measure against the most critical competitive benchmarks? According to a new survey by MyCFOnetwork, a group for finance executives currently in eight cities, public-company CFOs earn about 45% more than their private-company counterparts, taking home a median cash salary of $267,976 … According to CFO.com, the average cash compensation for a CFO in a private company with less than $20MM in annual revenue is $194,354. On average, a Master's Degree is the highest level of education for a COO. 19. We have seen some that could potentially double a candidate’s base salary. Tell me the sales pipeline math you use to support your firm’s revenue projections. Tack on benefits and bonus and you can expect to pay $225,000 to $275,000 depending on business size. In your experience, what was the key to ensuring your company was compliant with all laws, regulations, and standards that applied to your area of responsibility? Salary: $525,000 Stock and options: $1,149,250 Other: $637,477 Total: … How do you handle collections? Tack on benefits and bonus and you can expect to pay $225,000 to $275,000 depending on business size. The average Now CFO salary ranges from approximately $54,404 per year for Business Development Representative to $164,714 per year for Chief Financial Officer. A snapshot of public and private company average base salaries Title Public Private CFO … Do I Need Interim CFO Services or Should I Tough it Out. Call us at (888) 631-1124. The average salary range for a COO is between $187,779 and $487,675. hbspt.cta._relativeUrls=true;hbspt.cta.load(1623839, '4d831614-8058-4391-9e7c-2da38d0609eb', {}); Driven Insights founder, author of "Competitive Advantage through Financial Management", writes about informing business decisions. What is your current target monthly close date? Given our current size and growth plans, what are the key challenges and opportunities we’ll face in the next six months? 2021, Download our free Executive Growth Reports now, Pro Forma Financial Statements: Model Worst Case to Enable the Best, 4 Ways Yearend Financial Statement Preparation Shortcuts Can Hurt You, Why Excel SaaS Financial Models Stink and What to do About it, Outsourced Bookkeeping: Why Your Bookkeeper's Exit is an Opportunity. 13. Tell me about your experience overseeing legal? 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. 11. The average CEO salary for companies of this size and magnitude falls somewhere around $2.5 million per year. What accounting software, business intelligence, or reporting systems packages do you have first-hand experience with? The average Chief Executive Officer salary in the United States is $766,712 as of December 28, 2020, but the range typically falls between $579,411 and $987,678. Have you simplified a financial process within an organization? $40,838 with a range of $25,102 - $54,434. A CFO in your area makes on average $147,327 per year, or $3,409 (2%) more than the national average annual salary of $143,918. This compensation analysis is based on salary … Well, first we learned that CEOs get paid a lot. Typically the bonus potential and total earning potential increases as the size of the organization increases. What are the key attributes of a successful budgeting process? Please bring a relevant reporting package you’ve used to our next interview (redact sensitive info) and be prepared to walk us through what’s relevant to our needs and why. Average CFO (Chief Financial Officer) Salary by Company Size People with the job title CFO (Chief Financial Officer) make the most at companies with 501-1,000 employees, earning $400,000 on average. What do you find most interesting about financial management in the industry we’re in? 21. To estimate the most accurate annual salary range for CFO jobs, ZipRecruiter … Wondering how to navigate the process of finding the right CFO service for your business? 9. Topping the list is Washington, with New York and New Hampshire close behind in second and third. According to CFO.com, the average cash compensation for a CFO in a private company with less than $20MM in annual revenue is $194,354. The 2019 Robert Half Salary … What’s your role in evolving it? CFO Search, Inc. All rights reserved. updated on Dec. 7, 2016 CEO compensation at middle-market U.S. companies rose by 3.2 percent last year to an average of $3.8 million, and CFO compensation rose by 4.1 percent to an average … Equity stakes vary from one organization to another but generally consist of an initial first year grant with the remainder vesting over a period of several years. Whether you bring in a full or part-time CFO, try to find someone with an understanding of your industry and growth stage as a company. This also applies to the CEO, whose salary per year is between €108,975 and €241,564.