Chief Financial Officers


Overview

Introduction

Chief financial officers are responsible for the accuracy of their employer’s financial reporting and focus on issues such as compliance, budgeting, funds investment and management. They also develop financial short- and long-term strategies for their organizations.

Quick Facts


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Median Salary

$200,000

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Employment Prospects

Good

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Minimum Education Level

Bachelor's Degree


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Experience

Several years in lower-level financial management positions


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Skills

Business Management


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Personality Traits

Organized

Earnings

Salaries for chief financial officers (CFOs) vary substantially, depending on their level of experience and responsibility, and the size, type, and location of their organization. CFOs at Fortune 500 companies earn much more than their counterparts at smaller firms. Also, salaries in large metropolitan areas, such as Chicago, Los Angeles, and New York City, are higher than those in smaller citi...

Work Environment

The U.S. Department of Labor says that about half of top executives, including chief financial officers, work more than 40 hours per week. Some positions—especially those at large, multinational companies—require frequent travel. Chief financial officers (CFOs) typically have comfortable offices, and those who are employed by Fortune 500 companies have a large support staff. Corporate CFOs ofte...

Outlook

Employment for financial managers, which includes chief financial officers, is expected to grow much faster than the average for all careers through 2024, according to the U.S. Department of Labor. Additionally, O*NET Online reports that there is a “bright outlook” for controllers, treasurers, and chief financial officers (CFOs) because a significant number of job openings are expected for thes...

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