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The differences between chief finance and operating officers and chief finance officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a chief finance and operating officer, becoming a chief finance officer takes usually requires More than 10 years. Additionally, a chief finance and operating officer has an average salary of $166,139, which is higher than the $143,947 average annual salary of a chief finance officer.
The top three skills for a chief finance and operating officer include financial statements, oversight and human resources. The most important skills for a chief finance officer are payroll, CPA, and oversight.
| Chief Finance And Operating Officer | Chief Finance Officer | |
| Yearly salary | $166,139 | $143,947 |
| Hourly rate | $79.87 | $69.21 |
| Growth rate | 17% | 6% |
| Number of jobs | 166,131 | 145,184 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 72% |
| Average age | 46 | 52 |
| Years of experience | 8 | - |
A Chief Finance and Operating Officer is a senior executive who is part of the management team that manages the financial actions of an organization. This executive must produce financial statements to communicate results with shareholders and stakeholders of the organization. They must revise all their financial policies and procedures to strengthen internal controls and ensure the continuance of work to accommodate rapid growth. They must also establish cross-functional alliances to assist the effectiveness of the organization's marketing and business development initiatives.
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.
Chief finance and operating officers and chief finance officers have different pay scales, as shown below.
| Chief Finance And Operating Officer | Chief Finance Officer | |
| Average salary | $166,139 | $143,947 |
| Salary range | Between $87,000 And $314,000 | Between $80,000 And $257,000 |
| Highest paying City | Foster City, CA | Washington, DC |
| Highest paying state | California | California |
| Best paying company | University of Nebraska at Omaha | Baker McKenzie |
| Best paying industry | Internet | Construction |
There are a few differences between a chief finance and operating officer and a chief finance officer in terms of educational background:
| Chief Finance And Operating Officer | Chief Finance Officer | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 72% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between chief finance and operating officers' and chief finance officers' demographics:
| Chief Finance And Operating Officer | Chief Finance Officer | |
| Average age | 46 | 52 |
| Gender ratio | Male, 80.5% Female, 19.5% | Male, 71.9% Female, 28.1% |
| Race ratio | Black or African American, 8.1% Unknown, 4.1% Hispanic or Latino, 14.9% Asian, 8.5% White, 64.1% American Indian and Alaska Native, 0.3% | 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 | 11% | 12% |