CFOs are doing just fine, salarywise

CFOs may not be doing well stress-wise, full-night’s-sleep-wise, or otherwise, but they’re doing fine compensation-wise.

That’s according to a new survey from JM Search, an executive search firm, which polled 312 CFOs in Q4 2024 about base compensation, cash bonuses, and other related topics. All numbers were self-reported.

The majority of respondents (83%) worked at investor-backed or private companies. A few other notes on whose compensation we’re talking about here: 88% of respondents were male, and 87.5% were white. A third (32%) worked at health and life science companies, 22% in software and tech firms, and 16% at industrials and manufacturing companies.

Not shockingly, among this group, base salaries grew with company size. At small companies with revenue under $100 million, CFOs most commonly reported base salaries of between $250,000 and $299,000. At middle market companies, or those with revenue between $100 million and $500 million, the most common base salary range came in between $350,000 and $399,000. And following the tradition of the others, CFOs at companies exceeding $500 million in revenue most frequently made between $400,000 to $449,000. 22% of respondents in that group reported base salaries of $450,000 or higher.

But even though company size clearly played a prominent role in determining pay, experience was similarly critical. Looking at the most common compensation ranges for mid-market CFOs, the survey found that by the six- to 10-year experience range, nearly half of CFOs earned over $350,000, with 40% getting bonuses that exceeded 50% of their base salary.

Also filed under things-get-better: While 42% of first-time CFOs at private equity and VC-backed companies reported feeling underpaid compared to market standards, 64% of multi-time CFOs at the same types of orgs said they felt fairly compensated.