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Chief finance and operating officer vs corporate vice president

The differences between chief finance and operating officers and corporate vice presidents 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 corporate vice president 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 $165,788 average annual salary of a corporate vice president.

The top three skills for a chief finance and operating officer include financial statements, oversight and human resources. The most important skills for a corporate vice president are risk management, portfolio, and oversight.

Chief finance and operating officer vs corporate vice president overview

Chief Finance And Operating OfficerCorporate Vice President
Yearly salary$166,139$165,788
Hourly rate$79.87$79.71
Growth rate17%6%
Number of jobs166,13169,051
Job satisfaction--
Most common degreeBachelor's Degree, 70%Bachelor's Degree, 72%
Average age4652
Years of experience8-

What does a chief finance and operating officer do?

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.

What does a corporate vice president do?

A corporate vice president is an executive professional who is vital in managing staff and supervising departmental operations of a corporation. Corporate vice presidents must assist the president and the board of directors in designing the overall mission, values, and strategic goals of the corporation. As determined by the business's strategic goals, vice presidents must contribute to sales innovations, strategic business development, and the profitability of the corporation. Corporate vice presidents must also attend meetings with the board of directors to share information about competitors and expansion opportunities.

Chief finance and operating officer vs corporate vice president salary

Chief finance and operating officers and corporate vice presidents have different pay scales, as shown below.

Chief Finance And Operating OfficerCorporate Vice President
Average salary$166,139$165,788
Salary rangeBetween $87,000 And $314,000Between $113,000 And $242,000
Highest paying CityFoster City, CAWashington, DC
Highest paying stateCaliforniaNevada
Best paying companyUniversity of Nebraska at OmahaBrookfield Properties
Best paying industryInternetHospitality

Differences between chief finance and operating officer and corporate vice president education

There are a few differences between a chief finance and operating officer and a corporate vice president in terms of educational background:

Chief Finance And Operating OfficerCorporate Vice President
Most common degreeBachelor's Degree, 70%Bachelor's Degree, 72%
Most common majorAccountingBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Southern California

Chief finance and operating officer vs corporate vice president demographics

Here are the differences between chief finance and operating officers' and corporate vice presidents' demographics:

Chief Finance And Operating OfficerCorporate Vice President
Average age4652
Gender ratioMale, 80.5% Female, 19.5%Male, 73.8% Female, 26.2%
Race ratioBlack 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, 7.6% Asian, 7.5% White, 76.6% American Indian and Alaska Native, 0.6%
LGBT Percentage11%12%

Differences between chief finance and operating officer and corporate vice president duties and responsibilities

Chief finance and operating officer example responsibilities.

  • Manage employees in GL, A/R, A/P, Credit/Collections, sales, warehousing, and shipping.
  • Manage development and implementation of customize ERP system.
  • Lead implementation of new worldwide consolidation system, Hyperion, significantly reducing closing time and improving controls over the consolidation process.
  • Streamline risk management, convert banking relationship and convert payroll processing to a third party payroll processor.
  • Work closely with CPA firm to improve operational and financial controls with no significant deficiencies note after year one.
  • Reduce independent CPA audit time and eliminate audit corrections.
  • Show more

Corporate vice president example responsibilities.

  • Manage all corporate administration: accounting, payroll, employee relations, data processing, and all other administrative functions.
  • Manage company-wide initiative to implement internal control processes compliant with Sarbanes-Oxley.
  • Lead the consolidation of financial and operational systems for non-acute services including rehabilitation and psychiatry services.
  • Provide management oversight and support to international markets to ensure compliance with U.S. GAAP and internal management reporting requirements.
  • Work with outside consultants and CPA.
  • Produce payroll for thirty staff and union workers, make payroll deposits, and produce annual payroll documents.
  • Show more

Chief finance and operating officer vs corporate vice president skills

Common chief finance and operating officer skills
  • Financial Statements, 21%
  • Oversight, 5%
  • Human Resources, 5%
  • Payroll, 4%
  • Regulatory Compliance, 4%
  • Risk Management, 4%
Common corporate vice president skills
  • Risk Management, 9%
  • Portfolio, 8%
  • Oversight, 7%
  • Project Management, 6%
  • Financial Statements, 5%
  • Real Estate, 4%

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