What Is a CFO?

• A CFO, or chief financial officer, is the go-to person for the strategic financial management of a company. The CFO oversees the implementation of budgets, profitability of sales and all other financial aspects of the company at every level with the assistance of lower executives and upper management. All accounting reports also go to the CFO for review and approval. Strategic planning for marketing, financing, profitability and taxes for the company also all fall to the CFO. This becomes especially important when the company is publicly traded. In fact, all investor relations also go through the CFO.
  
  

Qualifications

• Most CFOs have a bachelor's or master's degree in accounting, finance or business administration though employer preferences vary by industry and the size of the company. In addition to a good education and plenty of business experience, many personal traits are highly valued in top executives like CFOs, according to the Bureau of Labor Statistics, such as leadership, motivational skills, decisiveness, flexibility and sound business judgment.
  
  

Average Salary

• In May 2008, the median or 50th percentile wage reported by the Bureau of Labor Statistics for chief executives such as CFOs was $158,560 a year. The next year, the Occupational Employment Statistics listed the average or mean wage for chief executive officers as $167,280. Geographic location makes a big difference in average annual salary of a CFO. The Occupational Employment Statistics listed the mean salary in greater Stamford, Connecticut, area as $217,080 while the average CFO in Springfield, Illinois, made $98,310 a year.
  
  

Benefits

• CFOs often enjoy the perks and benefits most people only dream of. Not only are comprehensive health insurance, life insurance, vacation pay and retirement plans standard issue, but stock options and performance bonuses are also common. The Bureau of Labor Statistics also lists benefits for tops executives like CFOs in the private sector as use of company-owned cars and aircraft, expense accounts, club memberships paid by the company, and other private and executive perks.