FAQs
He helps both emerging and mature companies manage issues such as ensuring sufficient cash flow to sustain growth, enhancing working capital, freeing up money tied up in inventory, determining where to concentrate sales efforts, deciding whether to sell the business, and more.
What is the average age of a CFO? ›
The average age for CFOs at the top 1,000 U.S. companies by revenue is 54, which ties for the youngest role in the C-suite. There isn't much variance in the age of CFOs among industries, with an average age of 54 for all analyzed industries except the energy industry at an average age of 53.
How stressful is CFO? ›
As a high-growth CFO, the pressure to meet financial targets, manage budgets, and make strategic decisions can be overwhelming. It's easy to get caught up in the day-to-day demands of the job and forget to take care of yourself.
What is the most difficult decision for a CFO to make? ›
The most difficult decisions for a CFO often involve balancing risk and reward in financial investments, determining the right time for expansion or cost-cutting, and allocating capital between competing projects or departments.
What age do CFOs retire? ›
CFO retirement and board service
The average retirement age in 2016 was 58.2, a decline from 59.8 in 2015 and down from a recent peak of 60.6 in 2011.
What does a CFO do all day? ›
If you work as a CFO, you oversee the investment of funds held by the company and assess and manage associated risks. You also supervise cash management activities, execute capital-raising strategies to support a firm's expansion, and deal with mergers and acquisitions.
How long do CFOs last? ›
Based on the sample, the average tenure for the C-suite executives, in general, is 4.6 years, up from 4.3 years in 2022. However, the average tenure for CFOs is 4.5 years, down from 4.6 years in 2022 and down from 4.9 years in 2018, according to the firm. CEOs in the Fortune 500 have an average tenure of seven years.
Who is the youngest CFO in the US? ›
Nolan Watson became the CFO of Silver Wheaton at age 26.
Within a year Nolan was named as the company's chief financial officer, making him the youngest-ever CFO of a New York Stock Exchange-listed company.
Is CFO a difficult job? ›
CFOs often face complex ethical dilemmas and compliance issues. A key aspect of the role involves guaranteeing that the company complies with financial regulations and maintains ethical principles. Addressing these challenges can be difficult, especially in industries with rigorous regulatory environments.
Are CFOs well paid? ›
Indeed, CFOs at S&P 500 companies are paid an average of $4.7m (£3.8m) – compared with CFOs at FTSE 100 companies earning £575,000, according to Page Executive's 2023 salary guide.
There are five MBTI personality profiles that are most likely to flourish in finance. Introverted sensors, ISTJs are known as the best personality type for accounting jobs, CFO positions, or careers as auditors.
How much do most CFOs make? ›
Average Total Cash Compensation
In the United States, the median base salary for a CFO is $362,030. Additionally, their median total compensation package, which includes bonuses and benefits, amounts to $506,386. However, these figures can vary widely, reflecting the salary range for CFOs in private companies.
What makes a bad CFO? ›
They lack soft skills
CFOs need to be able to communicate effectively with all influencers within and without the business, drawing on all the sources of information available to them: from hard data and reports right through to conversations with stakeholders.
What is the best leadership style for a CFO? ›
Strategic Outlook
Most CFOs find themselves implementing changes within their companies, whether on a financial or operational level. Having a strategic outlook is a leadership skill that will help CFOs uncover potential opportunities for growth and tackle existing challenges within the company.
Is it bad when a CFO quits? ›
Long-Term Effects on Company Performance
Negative Impact: If the departing CFO played a pivotal role in the company's success, their departure can have a lasting negative impact. The company may struggle to find a replacement who can fill their shoes, leading to a period of financial instability.
Do CFOs have work-life balance? ›
They continue to be energised by the role, and most of them report their work-life balance is “o*k” (51%) or good (29%). From an industry perspective, CFOs from the services sector report the best work-life balance, with 41% rating it “good,” compared to only 25% of CFOs in the consumer sector.
Is being a CFO worth it? ›
Reaching the position of CFO is a significant feather in your career cap. It highlights the culmination of several years of experience, knowledge, and professional development. Such a prestigious position may open doors for future opportunities, leading to positions on the board or senior executive roles.
How many hours does a CFO work? ›
On average, they work around 50 hours to 60 hours a week. During busy times, such as the end of the quarter or when traveling to attend meetings with investors, you can expect to work even more. Sometimes, you'll end up working as much as 90 hours a week. CFOs tend to have fairly non-traditional business hours.
Is being a CFO a hard job? ›
The CFO position is often associated with high levels of stress and pressure. The responsibility of managing a company's finances, especially during economic downturns or financial crises, can be overwhelming.
