What’s The Average Salary Of A Chief Financial Officer Cfo? – Ingenuity Complex LLC.

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

highest paid cfo

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. The finance chiefs at Bank of America, Bear Stearns, and John Hancock scored high in this year’s survey of best-paid CFOs.

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highest paid cfo

The majority of Maestri’s compensation is in the form of stock incentives, which were worth over $21 million in 2020. His total compensation for 2020, including retirement benefits and other compensation, was worth $26,253,270.

Average $133,760 Per Year

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. The Bureau of Labor Statistics projects that jobs for top executives including CFOs will grow 4% between 2019 and 2029. However, the occupational outlook is stronger for some specific job titles than others. For example, jobs for CEOs are expected to decline 10% during the next few years, while jobs for general and operations managers are expected to increase by 6%. People of color have also made some recent inroads into holding chief financial jobs, with 27 of the CFOs at the 668 biggest companies being African-American, Hispanic, or of Asian decent.

  • The total direct compensation percentiles were the following; at the 25th percentile a CFO received USD $471,256 and at the 75th percentile, USD $2,554,020 in total direct compensation.
  • He’s known to be an expert finance professional with experience that sprawls across the technology industry and ranges over 20 years.
  • CMAs are particularly well-positioned to be high-powered players in the c-suite.
  • One of two women on the list of highest-paid financial services CFOs, T. Rowe Price Group Inc.’s Céline Dufétel, made $6.1 million in 2019 after a 61.9% raise from the prior year.
  • CFOs moving towards a pay for performance compensation model is further evidenced by the average cash versus average equity pay components.

Our numbers are based on the publicly disclosed total compensation packages awarded to CFO’s for the full year ending December 31, 2014. Our list does not offer any insight into vested shares that may have vested during the reporting period which could affect a CFOs real dollar earnings.

What Is The Salary For Cfo At Cbs?

News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The Katie Couric clause is a slang term for a proposed 2006 SEC rule that would have required firms to disclose the pay of non-executive employees. Base pay is an employee’s initial rate of compensation, excluding extra lump sum compensation or increases in the rate of pay.

Who is the CFO of Facebook?

Dave Wehner is chief financial officer of Facebook, where he leads the finance, facilities and information technology teams. Prior to becoming CFO in June 2014, Dave served as Facebook’s vice president of Corporate Finance and Business Planning.

By way of comparison, according to the Bureau of Labor Statistics, the median weekly earnings of full-time workers in the U.S. was $984 as of June 2021, which is $51,168 per year. Thus, the average CFO makes almost eight times more than the average worker, making the CFO a very lucrative career by comparison. Angelakis served as the chief financial officer of Comcast Corporation for half a decade.

Chief Financial Officer Salary In The United States

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 $304,372 to $508,267 with the average base salary of $399,879. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $381,824 to $806,033 with the average total cash compensation of $550,863. Tanner is executive vice president and chief financial officer for Lockheed Martin Corporation, a role he has commanded since September 2007. Prior to the CFO role he served as vice president of finance and business operations for Lockheed Martin Aeronautics Company. He began his career in the aeronautics business area in January 1982.

highest paid cfo

Overall, women make up less than 15 percent of executive officers at the largest companies, a figure that has stayed put for four years. Catz’s top ranking comes when overall CFO pay at S&P; 500 companies declined for the first time in many years, falling about 2 percent last year. Her own pay declined from $51.7 million the year before, when she was the second-highest paid, to $43.6 million in 2013. That she made the top spot with declining pay only shows that she got there because the man above her saw his pay fall even more, not because she was handed a big increase. Different parts of the country have different levels of demand, a different saturation of Fortune 500 or bigger businesses and generally higher salaries for executives.

How Much Does A Cfo Chief Financial Officer Make In Denver?

Mr. Lisenby has also received $493,120 in non-equity incentive plan compensation. For its calculation, Equilar ranked the biggest listed U.S. companies by revenue that filed compensation data before April 30. He was also given a bonus of $608,550 and restricted stock awards of $600,055. Shiels was also awarded $15,012,398 in non-equity incentive plan compensation and given “other” compensation totaling $210,908. 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. He has also worked for Barclays Capital Inc. as an investment banker.

Is VP of finance higher than CFO?

Let’s start by laying out the distinctions between the two roles. VPs of Finance often have a hands-on role in managing a company’s finances. … CFOs, on the other hand, are more involved in the strategic financial future of a firm. The role is less about accounting and more about how to reach longer term goals.

An average CFO in San Francisco, however, will ask for nearly double that salary at $451,070 and total compensation of $724,006. These salary fluctuations reflect the size and type of company, where they are located in the U.S., how much experience these executives have and how well their companies are doing. For example, the average COO salary could increase based upon the company’s size. Payscale.com shows that an average law firm COO salary is $143,732; a hospital CFO’s salary ranges from $95,000 to the mid-$300,000 range. If you’re unsure about what salary is appropriate for a chief financial officer, visit Indeed’s Salary Calculator to get a free, personalized pay range based on your location, industry and experience.

He joined the company as its executive vice president and chief financial officer in 1997. In 2014, Twitter CFO Anthony Noto was the highest-paid CFO with a total compensation package worth $72.8 million. The statistic depicts the highest paid female chief financial officers worldwide in 2014. In that year, Marianne Lake of JPMorgan Chase was the second highest paid CFO in the world with an annual salary of 9.1 million U.S. dollars. 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.

Most Common Benefits For Chief Financial Officers

Diamond Resorts International pays the highest salary for the CFO position at $351,000 annually. Lawson originally graduated from Trinity College School in 1978, followed by a Bachelor of Arts from University of Toronto in 1983. Other valuable qualities Lawson has been able to acquire throughout his career in senior management include leadership, dedication and reliability. It’s not just their own company with which CFOs should be familiar. Keeping up with industry financial trends and strategies help CFOs make sure their companies are competitive. Compensation ranges from about $91,000 for a new CFO to more than $100,000 for a more experienced one (1-4 years’ experience), according to PayScale. With 5-9 years of experience, a CFO averages more than $117,000, while the salaries of senior CFOs range from $139,000 to nearly $150,000.

  • Garrett by trade is a personal finance freelance writer and journalist.
  • The primary factors that impact the median salary of a CFO include geographic location, and the experience and personal qualifications of the person.
  • And spent over 20 years at Seagate Technology plc holding leadership positions in the U.S. and Asia.
  • The Bureau of Labor Statistics projects that jobs for top executives including CFOs will grow 4% between 2019 and 2029.
  • In 2018, Safra Catz of Oracle was the highest-paid CFO, with a total compensation of over $108 million.

Inc. as a natural resources investment banker in the M&A advisory and equity & debt financing departments. Most of his salary came from restricted stock awards that amounted to $17,051,968. In addition to this, he received a $600,000 base salary and $600,000 bonus, as well as “other” compensation valued at $10,400. The chief financial officer is an important executive in major companies. CFO salaries vary widely, according to their experience, industry, and the location of the company. In addition, many CFOs take the majority of their compensation in stock options, bonuses, or other variable compensation. The average pay mix for CFOs has remained generally consistent from 2010 to 2019.

Those mounting bonuses fueled a healthy boost in overall compensation for CFOs. A report by the American Accounting Association highlighted the trend and its growth in recent years, particularly among smaller growth firms. The idea behind the trend is the desire to hire more operationally focused CFOs. The professional pinnacle for an advanced accounting student might be the position of chief financial officer . The CFO is responsible for a company’s finances and advises the chief executive and other executives on money matters. The average additional cash compensation for a CFO in US is $88,330.

A large majority of Warren Jr.’s salary was made up of restricted stock awards, which totaled $17,051,968. He was also awarded a base salary of $600,000, a bonus of $600,000, and “other” compensation worth $10,400. He also received restricted stock awards of $2,813,080 and option awards totaling $9,327,427.

highest paid cfo

His compensation included $350,462 base salary, non-equity incentive plan compensation of $493,120, and restricted stock awards valued a little over $28 million. Schwartz has been serving as Goldman Sachs’ CFO since January 2013. However, he has been working with the company for eighteen years, when he joined as the vice president before being promoted to managing director in 1999. A lion’s share of his compensation, like most of the CFOs on this list, came from bonuses and restricted stocks. Schwartz received a base salary of $1,850,000 and $6,716,667 bonus. This was boosted by $11,394,315 worth of restricted stock and $216,816 for “other” compensation.

Company Announcements

The base compensation of CEOs and CFOs of middle market companies has dropped between 20% and 50%, according to the data sample. Meg James is a corporate media reporter for the Los Angeles Times, covering the business of television and digital disruption in the entertainment industry.

Before he joined Apple, Luca served as the CFO at Xerox and at Nokia Siemens Networks. But Porat’s abilities are not only limited to the Finance highest paid cfo function. In addition to it, the business operations, Human Resource function, real estate, and workplace services also report to her.

The CFO works closely with executives who lead other areas of the business, helping provide the resources they need to perform their jobs. With a broad perspective of the company’s activities, a CFO can identify potential savings and determine where further investment could spur growth. CFOs must have accounting and finance experience and need leadership, analytical and communication skills. They should be familiar with all the operations of the organization — sales and marketing, manufacturing, purchasing, human resources and other areas — because they all impact the bottom line. Chief financial officers create the financial strategy for an organization and manage its fiscal priorities. They are high on the organizational chart and work closely with the other C-level executives to set and achieve the company’s goals.

Highest-Paid CFOs at Public Companies in Greater Baltimore – Baltimore Business Journal – Baltimore Business Journal

Highest-Paid CFOs at Public Companies in Greater Baltimore – Baltimore Business Journal.

Posted: Thu, 23 Sep 2021 07:00:00 GMT [source]

The trend in large companies has been the CFO’s move into the number two position, supplanting the chief operating officer in some cases. Even though a CFO is vital to company operations, they play a different role than the CEO. The CEO provides leadership over every department and oversees the entire company. Although a virtual CFO salary may not be as high as a full-time CFO, working as a vCFO or part-time will get you the experience you need to advance your career. And the bonus is you need fewer qualifications to get the gig, so it can be a great first stop. Larger companies and Fortune 500 companies are steeply competitive. They may require Ivy League education and additional credentials like an MBA, CMA, or CPA.

In 2017, compensation for male and female CFOs was almost on par, at $3.28 and $3.29 million, respectively. This was the first year that female CFO pay exceeded male CFO pay, and since 2017, women have consistently out earned men. The technology sector had strong representation in the top ten highest paid CFOs. In 2018, Safra Catz of Oracle was the highest-paid CFO, with a total compensation of over $108 million. The second highest-paid CFO was Ruth Porat of Alphabet with a total compensation of just over $47 million, more than $60 million less than Catz. Total compensation for CFOs has steadily risen over the last 10 years. Overall, median, 25th percentile, and 75th percentile CFO pay has gradually increased.

CMAs are particularly well-positioned to be high-powered players in the c-suite. Start it as a side hustle, do it in a consultative capacity, and earn some great credentials to accelerate your career. The same holds true for companies; a fleet management company with 300 employees would pay their top executives higher salaries than a marketing company with 25 workers. COOs are the second-in-command, and they are more hands-on when it comes to managing all of the company’s operations.

Highest-paid public companies CFOs – Philadelphia Business Journal – Philadelphia Business Journal

Highest-paid public companies CFOs – Philadelphia Business Journal.

Posted: Fri, 30 Jul 2021 07:00:00 GMT [source]

So it makes sense to offer a CFO salary that matches this responsibility. CFO salaries are significantly above average, even for executives at a similar level.

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