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Chief finance and operating officer vs executive vice president

The differences between chief finance and operating officers and executive 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 an executive vice president takes usually requires More than 10 years. Additionally, an executive vice president has an average salary of $216,285, which is higher than the $166,139 average annual salary of a chief finance and 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 an executive vice president are financial statements, oversight, and business development.

Chief finance and operating officer vs executive vice president overview

Chief Finance And Operating OfficerExecutive Vice President
Yearly salary$166,139$216,285
Hourly rate$79.87$103.98
Growth rate17%6%
Number of jobs166,131123,982
Job satisfaction--
Most common degreeBachelor's Degree, 70%Bachelor's Degree, 71%
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 an executive vice president do?

An executive vice president is responsible for monitoring departmental operations, managing customer relationships, developing the company's strategic goals, and identifying business opportunities that would maximize the company's performance, drive revenues, and achieve the business's profitability goals. Executive vice presidents contribute to sales innovations, negotiate business contracts, analyze financial reports, and minimize the company's expenses without compromising high-quality operations and customer satisfaction. An executive vice president must have excellent leadership and communication skills to support its daily operations to achieve its long-term goals and objectives.

Chief finance and operating officer vs executive vice president salary

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

Chief Finance And Operating OfficerExecutive Vice President
Average salary$166,139$216,285
Salary rangeBetween $87,000 And $314,000Between $118,000 And $394,000
Highest paying CityFoster City, CAWashington, DC
Highest paying stateCaliforniaWashington
Best paying companyUniversity of Nebraska at OmahaGartner
Best paying industryInternetTelecommunication

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

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

Chief Finance And Operating OfficerExecutive Vice President
Most common degreeBachelor's Degree, 70%Bachelor's Degree, 71%
Most common majorAccountingBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Chief finance and operating officer vs executive vice president demographics

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

Chief Finance And Operating OfficerExecutive Vice President
Average age4652
Gender ratioMale, 80.5% Female, 19.5%Male, 74.7% Female, 25.3%
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, 7.7% Asian, 7.6% White, 76.5% American Indian and Alaska Native, 0.6%
LGBT Percentage11%12%

Differences between chief finance and operating officer and executive 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

Executive vice president example responsibilities.

  • Used data and KPI's to achieve consistent sales growth and below industry average turnover.
  • Manage logistics department, negotiate rates with suppliers, oversee incoming and outgoing inventory.
  • Lead the implementation of a new third-party ERP system, introducing sophisticate enterprise management system where none exist previously.
  • Manage operations and logistics, staff planning and supervision for all administrative, personnel, training and logistical requirements.
  • Manage all financial functions including controlling/accounting, board and regulatory reporting, treasury and cash management, and asset/liability management.
  • Provide oversight over subordinate supervisors and complete twice-monthly payroll activities, ensuring employees are paid as expected and on time.
  • Show more

Chief finance and operating officer vs executive 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 executive vice president skills
  • Financial Statements, 9%
  • Oversight, 6%
  • Business Development, 6%
  • Healthcare, 6%
  • Revenue Growth, 6%
  • Strategic Partnerships, 4%

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