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December 12, 2001
CFOs Make Up To $400,000
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The composite, drawn by Abbott, Langer & Associates, belongs to a chief corporate financial officer. While the median CFO makes $100,533 per year, the highest-paid people in this group make well over $400,000 annually.
Based on the survey, the highest-paid CFO:
- has more than 10 years' experience and a bachelor's or master's degree.
- oversees five or more employees.
- is employed by a construction, land development, or engineering firm; a health care organization; a financial organization; or an automotive parts & accessories manufacturer.
- works for an organization that probably has an annual revenue of $100 million or more and 50 or more employees, and is headquartered in or near San Francisco/Oakland, Indianapolis, Sacramento, Miami, Detroit,
Dallas/Ft. Worth, or New York City, or outside the metropolitan areas studied in Alabama, Texas, California, or Indiana.
This survey information can be found in "Compensation in the Accounting/Financial Field, 20th Edition," a 495-page statistical analysis of current salaries and total cash compensation of 40 benchmark jobs in the field.
It involves data collected from more than 2,000 people in 234 organizations.
The survey also revealed median annual incomes (salaries plus cash bonuses & cash profit sharing) of the some of the more common jobs in the
accounting/financial field:
Accounting Managers (Taxation)- $89,500
Corporate Treasurers - $87,000
Chief Corporate Audit Officers - $80,496
Corporate Controllers - $75,600
Accounting Managers (Financial Analysis/Planning) -$73,825
Plant/Office Controllers - $61,141
Accounting Managers (General Accounting) - $57,500
Senior Accountants (Cost Accounting) - $46,800
Accountants (Financial Analysis/Planning)- $38,800
Auditors - $37,000
Junior Accountants (General Accounting)- $32,600
Payroll Clerks - $29,997
Account Clerks (Accounts Receivable)- $28,010
Junior Account Clerks (General Accounting)- $22,880
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