What is a Chief Finance Officer

Taking it all the way to the top. As a chief finance office, you may not be the CEO, but you're pretty far up there. In fact, you're so far up the chain of command that you're in charge of all of the company's financial actions. That's a job with a lot of responsibility.

As the CFO, you get to follow the company's cash flow and spend some time doing financial planning to ensure everyone is staying on budget. You may even get to allocate some funds to an under-budgeted department. But the biggest part of your job is identifying any weaknesses or strengths that the company has when it comes to the green stuff.

As the CFO, you can't be someone who just says "yes" all of the time. You have to have a keen mind when it comes to budgeting because you don't want to be the cause of the company going bankrupt. So you'll have to say "no" from time to time. But you'll survive.

There is more than meets the eye when it comes to being a chief finance officer. For example, did you know that they make an average of $65.42 an hour? That's $136,080 a year!

Between 2018 and 2028, the career is expected to grow 6% and produce 150,600 job opportunities across the U.S.

What Does a Chief Finance Officer Do

There are certain skills that many chief finance officers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed leadership skills, management skills and problem-solving skills.

Learn more about what a Chief Finance Officer does

How To Become a Chief Finance Officer

If you're interested in becoming a chief finance officer, one of the first things to consider is how much education you need. We've determined that 71.9% of chief finance officers have a bachelor's degree. In terms of higher education levels, we found that 19.7% of chief finance officers have master's degrees. Even though most chief finance officers have a college degree, it's impossible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a chief finance officer. When we researched the most common majors for a chief finance officer, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on chief finance officer resumes include associate degree degrees or doctoral degree degrees.

You may find that experience in other jobs will help you become a chief finance officer. In fact, many chief finance officer jobs require experience in a role such as controller. Meanwhile, many chief finance officers also have previous career experience in roles such as finance director or accounting manager.

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Average Salary
$136,080
Average Salary
Job Growth Rate
6%
Job Growth Rate
Job Openings
127,160
Job Openings
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Chief Finance Officer Career Paths

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Average Salary for a Chief Finance Officer

Chief Finance Officers in America make an average salary of $136,080 per year or $65 per hour. The top 10 percent makes over $221,000 per year, while the bottom 10 percent under $83,000 per year.
Average Salary
$136,080
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Chief Finance Officer Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a Chief Finance Officer. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

Learn How To Write a Chief Finance Officer Resume

At Zippia, we went through countless Chief Finance Officer resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Chief Finance Officer Resume Examples And Templates

Chief Finance Officer Demographics

Chief Finance Officer Gender Statistics

male

68.5 %

female

27.1 %

unknown

4.4 %

Chief Finance Officer Ethnicity Statistics

White

80.0 %

Hispanic or Latino

7.2 %

Asian

7.1 %

Chief Finance Officer Foreign Languages Spoken Statistics

Spanish

44.1 %

French

12.0 %

German

6.5 %
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Chief Finance Officer Education

Chief Finance Officer Majors

27.3 %
11.9 %

Chief Finance Officer Degrees

Bachelors

71.9 %

Masters

19.7 %

Associate

5.0 %

Top Colleges for Chief Finance Officers

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. University of Texas at Austin

Austin, TX • Private

In-State Tuition
$10,610
Enrollment
40,329

5. Northeastern University

Boston, MA • Private

In-State Tuition
$51,522
Enrollment
13,760

6. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Lehigh University

Bethlehem, PA • Private

In-State Tuition
$52,930
Enrollment
5,030

9. George Washington University, The

Washington, DC • Private

In-State Tuition
$55,230
Enrollment
12,161

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
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Top Skills For a Chief Finance Officer

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 13.3% of chief finance officers listed financial statements on their resume, but soft skills such as leadership skills and management skills are important as well.

12 Chief Finance Officer RESUME EXAMPLES

Best States For a Chief Finance Officer

Some places are better than others when it comes to starting a career as a chief finance officer. The best states for people in this position are Maine, Massachusetts, Pennsylvania, and New York. Chief finance officers make the most in Maine with an average salary of $153,412. Whereas in Massachusetts and Pennsylvania, they would average $149,124 and $148,546, respectively. While chief finance officers would only make an average of $148,458 in New York, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Massachusetts

Total Chief Finance Officer Jobs:
2,672
Highest 10% Earn:
$237,000
Location Quotient:
1.13
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. New York

Total Chief Finance Officer Jobs:
4,942
Highest 10% Earn:
$237,000
Location Quotient:
1.5
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Rhode Island

Total Chief Finance Officer Jobs:
353
Highest 10% Earn:
$233,000
Location Quotient:
1.13
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Chief Finance Officers

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Top Chief Finance Officer Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ chief finance officers and discovered their number of chief finance officer opportunities and average salary. Through our research, we concluded that Robert Half International was the best, especially with an average salary of $105,674. AT&T; follows up with an average salary of $125,617, and then comes Community Health Systems with an average of $150,669. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a chief finance officer. The employers include The Hartford Financial Services Group, IZEA Worldwide, and Hartford South

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Updated August 18, 2021