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The differences between chief finance and operating officers and chief operating 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 operating 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 $136,604 average annual salary of a chief operating 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 operating officer are healthcare, customer service, and oversight.
| Chief Finance And Operating Officer | Chief Operating Officer | |
| Yearly salary | $166,139 | $136,604 |
| Hourly rate | $79.87 | $65.67 |
| Growth rate | 17% | 6% |
| Number of jobs | 166,131 | 128,993 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 65% |
| 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 operating officer, also known as a COO, is a high-ranking official who oversees a company or organization's daily administrative and overall operations. They are typically the second in the chain of command, reporting directly to the company's chief executive officer, also known as a CEO. Among their duties include developing strategies and guidelines, reviewing reports, performing assessments, and implementing the company's policies, standards, and regulations. Additionally, they lead and empower staff to reach goals, helping solve issues and concerns when any arise.
Chief finance and operating officers and chief operating officers have different pay scales, as shown below.
| Chief Finance And Operating Officer | Chief Operating Officer | |
| Average salary | $166,139 | $136,604 |
| Salary range | Between $87,000 And $314,000 | Between $81,000 And $229,000 |
| Highest paying City | Foster City, CA | Jersey City, NJ |
| Highest paying state | California | New Jersey |
| Best paying company | University of Nebraska at Omaha | Baker McKenzie |
| Best paying industry | Internet | Manufacturing |
There are a few differences between a chief finance and operating officer and a chief operating officer in terms of educational background:
| Chief Finance And Operating Officer | Chief Operating Officer | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 65% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between chief finance and operating officers' and chief operating officers' demographics:
| Chief Finance And Operating Officer | Chief Operating Officer | |
| Average age | 46 | 52 |
| Gender ratio | Male, 80.5% Female, 19.5% | Male, 76.6% Female, 23.4% |
| 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, 3.7% Unknown, 3.9% Hispanic or Latino, 7.5% Asian, 7.5% White, 76.8% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 11% | 12% |