CFO Job Security Down, But Pay Goes Up
CFOs continue to suffer from a downward decline in tenure and maintain the worst job security in the C-Suite, a new study from Datarails has revealed, covered this week in Forbes, Fortune, CFO Dive and CFO.com.
Datarails, the financial planning and analysis (FP&A) platform for Excel users, analyzed SEC filings by 1,657 of the biggest US listed companies between 2018 to 2023, the latest period for which official data exists. The methodology involved analyzing CFO tenure and compensation mandated by the SEC in annual filings.
The study finds that CFOs stayed in post an average of 3.1 years over this five-year period, falling from an average of 3.5 years two years ago.
This compares unfavorably to Chief Technology Officers (4.3 years), General Counsel (4.2 years) Chief Marketing Officer (4 years), and the CEO (3.9 years) based on complete 2023 data.
Overall half (48%) of the listed US companies have experienced at least one CFO turnover in this latest five-year period the analysis reveals.
The report also finds a 9% rise in pay for CFOs over the past year, hitting an average of $3.8 million among the listed companies in 2023 (comprising salary, bonuses, stock awards and options). Outliers for the biggest pay days among the large sample include CFO of LiveNation Entertainment Joe Berchtold- total annual compensation $52m, Comcast CFO Michael J. Cavanagh ($ 40.5m) and Walmart CFO John David Rainey ($40m).
Download the full study: https://www.datarails.com/research/cfo-and-csuite-2024/
🎧Watch/Listen: FP&A Today: Managing a remote FP&A Team to Big wins
Lindsey Martens, VP Finance at fintech company, Valera (Formerly PSCU/Co-op Solutions) talks about her transition from accounting to finance- and how she manages a remote FP&A team that has business partnering and storytelling at its heart. “Business partnering is my favorite thing about FP&A” Martens says, “I love being the translator. I think of myself as taking all this data, accounting data, and then all these other sources that come into it, and I’m packaging it up in a way that is very digestible by the rest of the organization, especially the leaders who are making decisions.”
In this episode:
Making the pivot to FP&A – why and how
Starting off in coding and the link to FP&A
My career at Valera (ex Co-Op solutions)- a fintech leader with clients that are credit unions
Opps and Challenges of managing a remote FP&A Team
Small talk at the beginning of meetings (not so small)
Meme of the Week
It's been electrifying
