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The differences between chief finance officers and chief operating officers can be seen in a few details. Each job has different responsibilities and duties. It typically takes More than 10 years to become both a chief finance officer and a chief operating officer. Additionally, a chief finance officer has an average salary of $143,947, which is higher than the $136,604 average annual salary of a chief operating officer.
The top three skills for a chief finance officer include payroll, CPA and oversight. The most important skills for a chief operating officer are healthcare, customer service, and oversight.
| Chief Finance Officer | Chief Operating Officer | |
| Yearly salary | $143,947 | $136,604 |
| Hourly rate | $69.21 | $65.67 |
| Growth rate | 6% | 6% |
| Number of jobs | 145,184 | 128,993 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 65% |
| Average age | 52 | 52 |
| Years of experience | - | - |
A chief financial officer is responsible for managing and reviewing the financial status of a company. Chief financial officers' duties include ensuring the accuracy of financial reports, monitoring the company's expenses and budget goals, providing recommendations to prevent financial loss and increase revenues, processing the company's tax obligations, and resolving financial disputes. A chief financial officer must have an impeccable knowledge of the financial industry, updated with the current market trend, and strong leadership and decision-making skills to support the organization's financial department.
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 officers and chief operating officers have different pay scales, as shown below.
| Chief Finance Officer | Chief Operating Officer | |
| Average salary | $143,947 | $136,604 |
| Salary range | Between $80,000 And $257,000 | Between $81,000 And $229,000 |
| Highest paying City | Washington, DC | Jersey City, NJ |
| Highest paying state | California | New Jersey |
| Best paying company | Baker McKenzie | Baker McKenzie |
| Best paying industry | Construction | Manufacturing |
There are a few differences between a chief finance officer and a chief operating officer in terms of educational background:
| Chief Finance Officer | Chief Operating Officer | |
| Most common degree | Bachelor's Degree, 72% | 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 officers' and chief operating officers' demographics:
| Chief Finance Officer | Chief Operating Officer | |
| Average age | 52 | 52 |
| Gender ratio | Male, 71.9% Female, 28.1% | Male, 76.6% Female, 23.4% |
| Race ratio | Black or African American, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.7% White, 76.1% American Indian and Alaska Native, 0.6% | 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 | 12% | 12% |