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The differences between chief finance officers and finance directors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes More than 10 years to become a chief finance officer, becoming a finance director takes usually requires 6-8 years. Additionally, a chief finance officer has an average salary of $143,947, which is higher than the $118,518 average annual salary of a finance director.
The top three skills for a chief finance officer include payroll, CPA and oversight. The most important skills for a finance director are CPA, financial analysis, and payroll.
| Chief Finance Officer | Finance Director | |
| Yearly salary | $143,947 | $118,518 |
| Hourly rate | $69.21 | $56.98 |
| Growth rate | 6% | 17% |
| Number of jobs | 145,184 | 90,012 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 71% |
| Average age | 52 | 46 |
| Years of experience | - | 8 |
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 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 officers and finance directors have different pay scales, as shown below.
| Chief Finance Officer | Finance Director | |
| Average salary | $143,947 | $118,518 |
| Salary range | Between $80,000 And $257,000 | Between $76,000 And $183,000 |
| Highest paying City | Washington, DC | Palo Alto, CA |
| Highest paying state | California | California |
| Best paying company | Baker McKenzie | Meta |
| Best paying industry | Construction | Manufacturing |
There are a few differences between a chief finance officer and a finance director in terms of educational background:
| Chief Finance Officer | Finance Director | |
| Most common degree | Bachelor's Degree, 72% | 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 officers' and finance directors' demographics:
| Chief Finance Officer | Finance Director | |
| Average age | 52 | 46 |
| Gender ratio | Male, 71.9% Female, 28.1% | Male, 65.1% Female, 34.9% |
| 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, 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 | 12% | 11% |