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The differences between co-owners and chief finance 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 co-owner and a chief finance officer. Additionally, a chief finance officer has an average salary of $143,947, which is higher than the $86,704 average annual salary of a co-owner.
The top three skills for a co-owner include customer service, financial statements and business plan. The most important skills for a chief finance officer are payroll, CPA, and oversight.
| Co-Owner | Chief Finance Officer | |
| Yearly salary | $86,704 | $143,947 |
| Hourly rate | $41.68 | $69.21 |
| Growth rate | 6% | 6% |
| Number of jobs | 52,915 | 145,184 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 72% |
| Average age | 52 | 52 |
| Years of experience | - | - |
A co-owner is responsible for ensuring smooth business operations, searching for the best industrial opportunities to drive revenues and increase profitability. Some of the business co-owners' duties include planning activities for business promotions, monitoring current market trends, establishing a reliable workforce, developing product specifications, managing financial goals and cost estimates, strengthening marketing strategies, and keeping records of business papers and documents. A co-owner should have excellent leadership, communication, and decision-making skills to secure business growth and success.
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.
Co-owners and chief finance officers have different pay scales, as shown below.
| Co-Owner | Chief Finance Officer | |
| Average salary | $86,704 | $143,947 |
| Salary range | Between $63,000 And $118,000 | Between $80,000 And $257,000 |
| Highest paying City | - | Washington, DC |
| Highest paying state | - | California |
| Best paying company | - | Baker McKenzie |
| Best paying industry | - | Construction |
There are a few differences between a co-owner and a chief finance officer in terms of educational background:
| Co-Owner | Chief Finance Officer | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 72% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between co-owners' and chief finance officers' demographics:
| Co-Owner | Chief Finance Officer | |
| Average age | 52 | 52 |
| Gender ratio | Male, 53.2% Female, 46.8% | Male, 71.9% Female, 28.1% |
| Race ratio | Black or African American, 3.7% Unknown, 3.9% Hispanic or Latino, 7.5% Asian, 7.4% White, 76.8% American Indian and Alaska Native, 0.6% | 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% |
| LGBT Percentage | 12% | 12% |