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The differences between controllers and chief finance officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a controller, becoming a chief finance officer takes usually requires More than 10 years. Additionally, a chief finance officer has an average salary of $143,947, which is higher than the $101,204 average annual salary of a controller.
The top three skills for a controller include CPA, payroll processing and reconciliations. The most important skills for a chief finance officer are payroll, CPA, and oversight.
| Controller | Chief Finance Officer | |
| Yearly salary | $101,204 | $143,947 |
| Hourly rate | $48.66 | $69.21 |
| Growth rate | 17% | 6% |
| Number of jobs | 75,440 | 145,184 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 72% |
| Average age | 46 | 52 |
| Years of experience | 8 | - |
Controllers are employees in the accounting department who manage the finances of the organization. They are involved in the budget setting activity at the start of the company's fiscal year. Controllers are responsible for ensuring that all departments work within their respective budgets. They have the power to recommend budget cuts due to any unforeseen circumstances that may happen. They also have the ability to veto or forego budget items. Controllers should have accounting skills and auditing skills. They must also be trustworthy and should work with integrity.
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.
Controllers and chief finance officers have different pay scales, as shown below.
| Controller | Chief Finance Officer | |
| Average salary | $101,204 | $143,947 |
| Salary range | Between $70,000 And $144,000 | Between $80,000 And $257,000 |
| Highest paying City | Portland, ME | Washington, DC |
| Highest paying state | New York | California |
| Best paying company | Perkins Coie | Baker McKenzie |
| Best paying industry | Technology | Construction |
There are a few differences between a controller and a chief finance officer in terms of educational background:
| Controller | Chief Finance Officer | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 72% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between controllers' and chief finance officers' demographics:
| Controller | Chief Finance Officer | |
| Average age | 46 | 52 |
| Gender ratio | Male, 58.9% Female, 41.1% | Male, 71.9% Female, 28.1% |
| Race ratio | Black or African American, 7.7% Unknown, 4.1% Hispanic or Latino, 14.8% Asian, 9.4% White, 63.7% American Indian and Alaska Native, 0.3% | 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 | 11% | 12% |