Chief finance officer education requirements

Q: What degree do you need to be a CFO?

You need a bachelor's degree in business accounting to be a CFO. An aspiring CFO should strive to obtain an MBA as well. A CFO is the director of the financial aspect of a business. It is preferable that their education include business, accounting, and economics courses. Obtaining an MBA (master's in business administration) is highly suggested. The MBA is advanced training in leadership and management. There are also certifications available that will further your expertise. CPA (certified public accountant) and CMA (certified management accountant) are the most common certificates acquired by a CFO. Having both of these will round out your knowledge in accounting practices, taxes, audits, and management accounting. Experience is also a vital part of the education process for a CFO. Most companies want a candidate who has no less than a master's degree, although a bachelor's degree is the minimum. They also want several years of experience and certifications. All of these technical skills combined with the leadership, organizational, and management skills that are acquired during your education are necessary for an aspiring CFO.

Updated January 8, 2025

4 min read

There are several educational requirements to become a chief finance officer. Chief finance officers usually study accounting, business, or finance. 72% of chief finance officers hold a bachelor's degree, and 20% hold an master's degree. We analyzed 48,056 real chief finance officer resumes to see exactly what chief finance officer education sections show.

The most common colleges for chief finance officers are the University of Phoenix and the University of Phoenix.

There are also many online chief finance officer courses to help get the education required to be a chief finance officer.

There are certain chief finance officer certifications that you should consider. These chief finance officer certifications include Certified Management Accountant (CMA) and Chartered Global Management Accountant (CGMA).

What education do you need to become a chief finance officer?

What degree do you need to be a chief finance officer?

The most common degree for chief finance officers is bachelor's degree, with 72% of chief finance officers earning that degree. The second and third most common degree levels are master's degree degree at 20% and master's degree degree at 5%.

Bachelor's, 72%

Master's, 20%

Associate, 5%

Doctorate, 1%

Other Degrees, 2%

What should I major in to become a chief finance officer?

You should major in accounting to become a chief finance officer. 44% of chief finance officers major in accounting. Other common majors for a chief finance officer include business and finance.

Accounting, 44%

Business, 27%

Finance, 12%

Economics, 4%

Other Majors, 13%

Most common colleges for chief finance officers

Chief finance officers often get their degrees at University of Phoenix, New York University, and Brigham Young University. Here are the most common colleges for chief finance officers in the US based on their resumes.

Chief finance officer common college	Percentages
University of Phoenix	10.77%
New York University	6.00%
Brigham Young University	5.81%
California State University - San Bernardino	5.60%
Pennsylvania State University	5.38%

Show more common chief finance officer colleges

Best majors for chief finance officers

Rank	Major	Percentages
1	Accounting	44.0%
2	Business	27.3%
3	Finance	11.9%
4	Economics	3.5%
5	Management	2.2%

Show more common chief finance officer majors

Best colleges for chief finance officers

The best colleges for chief finance officers are Northwestern University, University of Pennsylvania, and University of Southern California.

A chief finance officer with advanced education typically earns a higher salary and has access to better jobs. That's why Zippia looked into the best colleges for chief finance officers. We based this list on several metrics: admissions rate, retention rate, mean earnings of graduates, the ratio of working vs. non-working students ten years after admission, the average cost of attendance, and median debt for graduates who become 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

20 best online courses for chief finance officers

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5. Financial Statement Auditing Cycles

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9. Financial Statement Analysis

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17. Financial Statements: Balance Sheet, Income Stmt, Cash Flow

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20. Financial Statement Analysis - Ratio Analysis

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Top 10 most affordable universities for chief finance officers

The most affordable schools for chief finance officers are Baruch College of the City University of New York, university of florida, and brigham young university.

If the best universities for chief finance officers are out of your price range, check out these affordable schools. After factoring in in-state tuition and fees, the average cost of attendance, admissions rate, average net price, and mean earnings after six years, we found that these are the most affordable schools for chief finance officers.

1. Baruch College of the City University of New York

New York, NY • Private

In-state tuition

$7,262

Cost of attendance

14,046

2. University of Florida

Gainesville, FL • Private

In-state tuition

$6,381

Cost of attendance

21,034

3. Brigham Young University

Provo, UT • Private

In-state tuition

$5,620

Cost of attendance

18,136

4. USF Sarasota-Manatee

Sarasota, FL • Private

In-state tuition

$5,587

Cost of attendance

13,043

5. California State University - Fullerton

Fullerton, CA • Private

In-state tuition

$6,886

Cost of attendance

17,645

6. University of South Florida

Tampa, FL • Private

In-state tuition

$6,410

Cost of attendance

20,456

7. Florida State University

Tallahassee, FL • Private

In-state tuition

$5,656

Cost of attendance

21,623

8. USF St. Petersburg

St. Petersburg, FL • Private

In-state tuition

$5,821

Cost of attendance

19,849

9. SUNY Farmingdale

Farmingdale, NY • Private

In-state tuition

$8,306

Cost of attendance

16,091

10. University of Houston - Victoria

Victoria, TX • Private

In-state tuition

$6,491

Cost of attendance

19,075

Top 10 hardest universities to get into for chief finance officers

The hardest universities for chief finance officers to get into are Northwestern University, University of Pennsylvania, and University of Southern California.

Some great schools for chief finance officers are hard to get into, but they also set your career up for greater success. The list below shows the most challenging universities to get into for chief finance officers based on an institution's admissions rates, average SAT scores accepted, median ACT scores accepted, and mean earnings of students six years after admission.

1. Northwestern University

Evanston, IL • Private

Admissions rate

SAT average

1,508

2. University of Pennsylvania

Philadelphia, PA • Private

Admissions rate

SAT average

1,492

3. University of Southern California

Los Angeles, CA • Private

Admissions rate

13%

SAT average

1,445

4. Carnegie Mellon University

Pittsburgh, PA • Private

Admissions rate

17%

SAT average

1,507

5. Northeastern University

Boston, MA • Private

Admissions rate

19%

SAT average

1,466

6. New York University

New York, NY • Private

Admissions rate

20%

SAT average

1,419

7. Boston University

Boston, MA • Private

Admissions rate

22%

SAT average

1,420

8. Washington University in St Louis

Saint Louis, MO • Private

Admissions rate

15%

SAT average

1,506

9. Lehigh University

Bethlehem, PA • Private

Admissions rate

22%

SAT average

1,380

10. University of Miami

Coral Gables, FL • Private

Admissions rate

32%

SAT average

1,365

Top 10 easy-to-apply-to universities for chief finance officers

The easiest schools for chief finance officers to get into are Mount Saint Mary's University, barry university, and oklahoma wesleyan university.

Some schools are much easier to get into. If you want to start your career as a chief finance officer without much hassle, check out the list of schools where you will be accepted in no time. We compiled admissions rates, average SAT scores, average ACT scores, and average salary of students six years after graduation to uncover which were the easiest schools to get into for chief finance officers.

1. Mount Saint Mary's University

Los Angeles, CA • Private

Admissions rate

84%

SAT average

1,031

2. Barry University

Miami, FL • Private

Admissions rate

91%

SAT average

1,006

3. Oklahoma Wesleyan University

Bartlesville, OK • Private

Admissions rate

68%

SAT average

964

4. University of North Texas at Dallas

Dallas, TX • Private

Admissions rate

83%

SAT average

992

5. Holy Names University

Oakland, CA • Private

Admissions rate

70%

SAT average

849

6. Notre Dame de Namur University

Belmont, CA • Private

Admissions rate

82%

SAT average

983

7. Notre Dame College

Cleveland, OH • Private

Admissions rate

90%

SAT average

994

8. Waynesburg University

Waynesburg, PA • Private

Admissions rate

91%

SAT average

1,080

9. Felician University

Lodi, NJ • Private

Admissions rate

81%

SAT average

999

10. La Roche College

Pittsburgh, PA • Private

Admissions rate

99%

SAT average

1,008

Average chief finance officer salary by education level

According to our data, chief finance officers with a Master's degree earn the highest average salary, at $168,702 annually. Chief finance officers with a Doctorate degree earn an average annual salary of $168,673.

Chief finance officer education level	Chief finance officer salary
Master's Degree	$168,702
Bachelor's Degree	$152,601
Doctorate Degree	$168,673
Some College/ Associate Degree	$113,400

Chief finance officer education FAQs

What degree do you need to be a CFO?

What is the best college for Chief Finance Officers?

Have more questions? See all answers to common executive management questions.

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Updated January 8, 2025

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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