CFOs’ salaries depend on their years of experience and the companies they work for. In general, according to PayScale.com, a CFO with less than a year of experience earns around $77,923. A CFO who has over 20 years of experience can earn around $123,322.
What Are the Duties of a CFO?
The CFO manages his or her company’s financial aspects. Assessing financial risks and financial planning are important duties of the CFO. The CFO is also responsible for submitting financial reports to the CEO or another high-level executive.
According to the US Department of Labor Bureau of Labor Statistics, the CFO of a company directs ''the organization’s financial goals, objectives, and budgets.'' The CFO oversees financial activities and makes sure that financial risks do not weigh too heavily on the company.
A CFO’s Work Atmosphere
CFOs usually have their own offices within their companies. They also have staff that they are in charge of. CFOs have to be prepared for long hours and even having to work on weekends sometimes. Their schedules may not be too crazy, but CFOs do deal with a lot of detailed work.
The Education of a CFO
A lot of executives have at least a bachelor’s degree, and many of them have studied business administration. A graduate degree is also a plus for a CFO, as is experience. According to the US Department of Labor Bureau of Labor Statistics, a professional executive should have ''highly developed personal skills.'' He or she needs to have good communication skills and must be able to manage reports in an organized fashion.
The CFO must be confident and flexible within his or her position. A business background also helps the CFO by preparing him or her with relevant skills. Different certifications are available for top executives who want to work in specific industries.
The CFO works at a prestigious level within the company. Although there has been a downturn in the job market recently, CFOs have pretty stable positions as integral executive employees.