The Chief Financial Officer (CFO) is the most crucial leadership position in any organization, who oversees financial wellness, planning, risk management, compliance, and long-term financial advice responsibilities. As a member of the executive team, the Chief Financial Officer not only enjoys budgeting and forecasting but also works extremely closely with the CEO and board members in developing long-term financial plans for the organisation. CFO roles are common in sectors ranging from banking to healthcare, IT, manufacturing, real estate, FMCG, and so on.
The salary of a Chief Financial Officer is among the highest in corporate and varies based on the industry, size of the company, experience, location, and credentials. New joiners in start-ups or small-to-medium-sized companies may receive fairly smaller packages, while those in multinational companies, conglomerates, or listed companies are rewarded with multi-crore value packages annually.
CFO Salary after Experience
The table below outlines the average salary of a CFO in India based on experience levels and job titles associated with the CFO trajectory.
CFO Salary after Different Levels of Study
Reaching a Chief Financial Officer role requires a lot of experience, but having the right academic degree or certifications is also important. Chartered Accountancy (CA), MBA Finance, CPA, CFA, and ICWA are some common qualifications that increase the earning potential. One can start their career as a CFO by taking an undergraduate degree like BBA Finance and Accounts or BCom Finance.
Also, Read about BCom Finance
CFO Salary as per Designation
Chief Financial Officer-level positions have different titles depending on the company or organisation. Pay levels vary across designations, but the work responsibilities are the same.
CFO Salary in India
The salary of CFO can fluctuate a great deal based on the city. Financial centers like Mumbai, Bengaluru, and Delhi NCR provide the best packages because of the dominance of large corporates and MNCs.
CFO Salary Abroad
The demand for Chief Financial Officers is equally high globally, with salaries significantly exceeding Indian standards, especially in developed economies.
Skills Required in a CFO Career
Chief Financial Officer develops a wide range of critical executive and financial management skills, such as:
- Strategic Planning
- Risk Management
- Financial Analysis and Reporting
- Leadership and Team Management
- Regulatory Compliance
- Investor Relations
- Mergers and Acquisitions
CFO Salary FAQs
Is being a CFO financially worthwhile?
Yes, CFOs are amongst the highest-paid professionals in business, especially in big business or MNCs, and are commonly rewarded with stock options, performance bonuses, and perks.
What is the requirement to become a CFO?
They should begin by pursuing an UG course in finance as a foundation. UG courses may be BBA in Finance or BCom in Finance. They can thereafter go for a Chartered Accountant (CA), MBA in Finance, CPA, CFA, or ICWA, and 15–20 years of senior finance experience, which is usually required to be a CFO.
What sectors provide the best CFO remuneration?
Sectors such as BFSI, IT, Pharma, Manufacturing, FMCG, and E-commerce provide the best CFO deals, particularly for large turnover and multinational companies.
In what way does company size influence a CFO's salary?
CFOs in large organizations are likely to earn more in terms of salary since financial operations are intricate, there are greater responsibilities, and revenue management is higher. A CFO who works in a startup can receive INR 40–60 LPA, while a CFO who is working in a conglomerate can earn over INR 2–5 Cr annually.
Can a CFO earn more than a CEO?
While uncommon, in certain cases—especially in finance-driven organizations or startups with strong equity compensation structures—a CFO can earn as much or more than a CEO, depending on performance-linked incentives or negotiated equity stakes.
What is the career path to a CFO?
To pursue a career a a CFO, one needs years of experience and they may have to go through the following job roles that may differ based on the company hierarchy. The common positions to cross to reach CFO are Financial Analyst, Finance Manager, Financial Controller, VP/Head of Finance, and then CFO.
