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The differences between chief finance and operating officers and finance directors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a chief finance and operating officer and a finance director. Additionally, a chief finance and operating officer has an average salary of $166,139, which is higher than the $118,518 average annual salary of a finance director.
The top three skills for a chief finance and operating officer include financial statements, oversight and human resources. The most important skills for a finance director are CPA, financial analysis, and payroll.
| Chief Finance And Operating Officer | Finance Director | |
| Yearly salary | $166,139 | $118,518 |
| Hourly rate | $79.87 | $56.98 |
| Growth rate | 17% | 17% |
| Number of jobs | 166,131 | 90,012 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Average age | 46 | 46 |
| Years of experience | 8 | 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 finance director's role is to oversee all financial activities and aspects of a company or organization. One of their duties is to gather necessary financial data and cultivate reports on essential matters such as revenue and budget, provide risk assessments and estimates, implement vital policies, and allocate funds within the company. Furthermore, a finance director must also devise strategies and recommend innovative methods for financial gains, while in adherence to the organization's policies and regulations.
Chief finance and operating officers and finance directors have different pay scales, as shown below.
| Chief Finance And Operating Officer | Finance Director | |
| Average salary | $166,139 | $118,518 |
| Salary range | Between $87,000 And $314,000 | Between $76,000 And $183,000 |
| Highest paying City | Foster City, CA | Palo Alto, CA |
| Highest paying state | California | California |
| Best paying company | University of Nebraska at Omaha | Meta |
| Best paying industry | Internet | Manufacturing |
There are a few differences between a chief finance and operating officer and a finance director in terms of educational background:
| Chief Finance And Operating Officer | Finance Director | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| 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 finance directors' demographics:
| Chief Finance And Operating Officer | Finance Director | |
| Average age | 46 | 46 |
| Gender ratio | Male, 80.5% Female, 19.5% | Male, 65.1% Female, 34.9% |
| 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, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 9.4% White, 64.1% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |