Also noteworthy, the top 10 highest-paid CEOs earn well into the hundreds of millions of dollars, according to Fortune. While most CEOs won’t earn that much, the top base salaries currently average around $307,000 a year, according to Payscale data. For CFOs, the highest pay averages around $230,000 a year, according to Payscale.
- The other areas of compensation are bonuses and benefits, as well as perks.
- Unlike a business, excess funds are not distributed to shareholders or staff in the form of dividends, stock options or other profit-sharing mechanisms.
- Among others included in the survey, for those working in a large New York company, the typical high-end salary is $195,000 for controllers, $161,000 for accounting managers and $66,000 for accounts payable clerks.
- This does not include stock options, bonuses, or other forms of compensation.
- Benioff founded Salesforce in 1999, adopting the marketing slogan “The End of Software.” The cloud-based customer relationship management platform ranked 136 on this year’s Fortune 500.
- Those interested in the CFO role may consider pursuing the Certified Public Accountant credential, which demonstrates their expertise and trustworthiness in aspects of financial management.
Additional information on criteria used to develop the sample is included in the Appendix. A chief information officer is the company executive responsible for the management and implementation of information and computer technologies. Management roles vary by organization, depending on a company’s history, the characteristics of its industry, and the demands of investors. And although fitting CFOs into a clear-cut typology may seem artificial, we found it useful to understand how companies are filling the role to get a clearer picture of how it’s changing.
Recently Added Chief Finance Officer Salaries
Median target bonus opportunities as a percentage of salary remained consistent at the median and 25th percentiles, and fell at the 75th percentile. Among the total sample, highest paid cfos 2020 the median increase for CFOs was 2.5%, similar to last year’s 2.7% increase. Since 58% of CEOs did not receive an increase, the median increase for CEOs is 0%.
Even the executives of the organization get involved in stuffing envelopes, making coffee and keeping the books. As nonprofits grow in size and stature, however, management functions tend to crystallize around more conventional roles. A nonprofit’s chief financial officer may take on a role that is similar to a CFO in a profit-making business but is not likely to receive the same salary as in the private sector. CFOs for private companies with $21-$99MM in annual revenue make an average of $237,983 in base salary. (Private company CFOs make 45% less than those at public companies.) Tack on benefits and bonus and you can expect to pay $225,000 to $275,000 depending on business size. Pichette had been the CFO and senior vice president for Google since August 2008 before retiring in May 2015.
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Apart from being the CFO at Acxiom, Jenson also serves as the executive vice president of the company and president of Acxiom International. His previous jobs included COO of Silver Spring Networks, and CFO of Electronic Arts Inc. In 2014, his compensation consisted of a $511,250 base salary and $25,500,057 worth of restricted stock awards. In addition, he was given $340,000 compensation for non-equity incentive plan and $510,525 in terms of option awards. Being one of the highest-paid CFOs in the world, Angelakis earned a total compensation package of $14.3 million in 2023, including a base salary of $1.8 million and stock awards worth $10.3 million.
For example, chief finance officers make a whopping average salary of $149,797 while working in the construction industry. Meanwhile, other people in this field are making $149,770 in the manufacturing industry and $149,617 in the hospitality industry. 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.
The highest-paid payer CFOs in 2021
Elon Musk, the chief executive of SpaceX and Tesla, topped Fortune’s new list of the most highly compensated CEOs on the Fortune 500. In 2021, Musk “realized” compensation worth almost $23.5 billion, from exercising some Tesla stock options awarded in a 2018 multiyear “moonshot” grant. That was—by far—the biggest CEO payday in 2021, according to our new analysis of how Fortune 500 CEOs are compensated. Elon Musk, the chief executive of SpaceX and Tesla, toppedFortune‘s new list of the most highly compensated CEOs on the Fortune 500. In 2021, Musk “realized” compensation worth almost $23.5 billion, from exercising some Tesla stock options awarded in a 2018 multiyear “moonshot” grant. As a result of the COVID-19 pandemic, over the last two years many companies elected to award their CEOs for staying on board and guiding their organizations through turbulent times through bonuses and stock awards.
Is CFO a good career?
A CFO is the highest (and highest paid) finance position in a company. It can come with a significant set of responsibilities, not limited to making strategic decisions that impact all employees. While it can be stressful, it can also be immensely rewarding and lucrative.
A chief financial officer deals with everything in an organization that concerns cash flow, financial planning, and tax issues. This person usually holds the highest financial post and the second – after the CEO – position in the company, playing the key role in the strategic initiatives of the company. We’ve written more about this topic in a separate article, so today we’ll focus on how much do CFOs make. Further comparison of CEO vs. CFO roles points to a promising job outlook.
Checkster’s use of collective intelligence to capture actionable and valuable feedback can help organizations further optimize their hiring practices. Among others included in the survey, for those working in a large New York company, the typical high-end salary is $195,000 for controllers, $161,000 for accounting managers and $66,000 for accounts payable clerks. Consistent with their executive function, CFOs are the highest-earning corporate professionals among those doing finance-related work. Compensation Advisory Partners is a leading independent consulting firm specializing in executive and director compensation and related corporate governance matters.
For example, doctors and other medical professionals can pursue this career path because of their in-depth knowledge of the healthcare industry. However, medical professionals wanting to reach the C-suite at healthcare organizations may benefit from taking business-related coursework. The CFO role is also a top leadership position, focusing on financial operations.
Top CFO Salaries
He also played a critical role in developing and executing the firm’s strategic activities– including its expansion into new markets and business lines. Providing financial guidance to the company’s top management to support decision-making. Overseeing Alphabet’s financial operations, including financial reporting, budgeting, and forecasting. The company faced challenges because of the global chip shortage, but successfully began manufacturing the equipment in-house. Apple finished the year with a gargantuan $95 billion in profits—outperforming every other U.S. company on that front.
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- In the past 10 years, CEO pay at S&P 500 companies increased by more than $540,000 a year to an average of $18.3 million in 2021.
- Shiels was awarded the responsibility of the chief financial officer of Williams Partners in January 2010.
- Arguably, there has always been a need for CFOs, however, the position really only came about in the 1960s.
How much does a CFO at Google make?
As Senior Vice President, Chief Financial Officer, Alphabet and Google at Alphabet Inc., Ruth M. Porat made $14,662,476 in total compensation.