Advisory board member vs chief finance officer

The differences between advisory board members and chief finance officers can be seen in a few details. Each job has different responsibilities and duties. It typically takes More than 10 years to become both an advisory board member and a chief finance officer. Additionally, a chief finance officer has an average salary of $143,947, which is higher than the $63,675 average annual salary of an advisory board member.

The top three skills for an advisory board member include community outreach, non-profit organization and strategic direction. The most important skills for a chief finance officer are payroll, CPA, and oversight.

Advisory board member vs chief finance officer overview

	Advisory Board Member	Chief Finance Officer
Yearly salary	$63,675	$143,947
Hourly rate	$30.61	$69.21
Growth rate	6%	6%
Number of jobs	9,710	145,184
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 67%	Bachelor's Degree, 72%
Average age	52	52
Years of experience	-	-

What does an advisory board member do?

An advisory board member provides business operations recommendations to the company's executives. Company executives, such as the CEO or company owner, need input from trustworthy people to continually improve their company. Companies must be adaptable to have a chance in an ever-competitive market. Advisory board members must maintain a level of adaptability that will make the company resilient and robust.

What does a chief finance officer do?

A chief financial officer is responsible for managing and reviewing the financial status of a company. Chief financial officers' duties include ensuring the accuracy of financial reports, monitoring the company's expenses and budget goals, providing recommendations to prevent financial loss and increase revenues, processing the company's tax obligations, and resolving financial disputes. A chief financial officer must have an impeccable knowledge of the financial industry, updated with the current market trend, and strong leadership and decision-making skills to support the organization's financial department.

Advisory board member vs chief finance officer salary

Advisory board members and chief finance officers have different pay scales, as shown below.

	Advisory Board Member	Chief Finance Officer
Average salary	$63,675	$143,947
Salary range	Between $18,000 And $218,000	Between $80,000 And $257,000
Highest paying City	-	Washington, DC
Highest paying state	-	California
Best paying company	-	Baker McKenzie
Best paying industry	-	Construction

Differences between advisory board member and chief finance officer education

There are a few differences between an advisory board member and a chief finance officer in terms of educational background:

	Advisory Board Member	Chief Finance Officer
Most common degree	Bachelor's Degree, 67%	Bachelor's Degree, 72%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Advisory board member vs chief finance officer demographics

Here are the differences between advisory board members' and chief finance officers' demographics:

	Advisory Board Member	Chief Finance Officer
Average age	52	52
Gender ratio	Male, 47.9% Female, 52.1%	Male, 71.9% Female, 28.1%
Race ratio	Black or African American, 3.6% Unknown, 3.9% Hispanic or Latino, 7.5% Asian, 7.4% White, 77.0% American Indian and Alaska Native, 0.6%	Black or African American, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.7% White, 76.1% American Indian and Alaska Native, 0.6%
LGBT Percentage	12%	12%

Differences between advisory board member and chief finance officer duties and responsibilities

Advisory board member example responsibilities.

Work with a team of 13 other members to manage, fill, and distribute THON merchandise orders.
Participate in THON, a yearlong effort to raise money and awareness in the fight against pediatric cancer.
Develop organizational policies and procedures for staffing, fund raising, governance and administration of the new organization.
Engage perspective student questions on the admitted students' Facebook page.
Create and organize a school wide math night to support parent involvement through mathematics
Serve as regular panelist discussing current events, school life and other teen relate issues.

Chief finance officer example responsibilities.

Lead management team in developing and executing a combination of pricing and cost savings strategies that improve EBITDA more than threefold.
Lead the consolidation of financial and operational systems for non-acute services including rehabilitation and psychiatry services.
Lead system conversion to Hyperion planning budgeting/forecasting software, responsible for training, developing and implementation.
Manage all firm banking relationships, treasury functions and retain signatory authority for all partnership and corporate accounts.
Lead implementation of new worldwide consolidation system, Hyperion, significantly reducing closing time and improving controls over the consolidation process.
Prepare annual general ledger reconciliations and consolidate financial reports for CPA tax preparation.

Advisory board member vs chief finance officer skills

Common advisory board member skills

Community Outreach, 13%
Non-Profit Organization, 9%
Strategic Direction, 8%
Policy Changes, 7%
Public Health, 7%
Alumni, 7%

Common chief finance officer skills

Payroll, 7%
CPA, 6%
Oversight, 5%
Financial Reports, 4%
Human Resources, 4%
Internal Controls, 4%

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Advisory Board Member vs Chief Finance Officer

Updated January 8, 2025

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