Administration April 5, 2002

Best-Paid CFOs Earn 600K Plus

May 16, 2001 (PLANSPONSOR.com) - The best-paid chief corporate financial officers earn more than $600,000 in total annual compensation and tend to work for organizations who employ 10,000 or more employees and post $1 billion or more in annual revenue, according to a new survey.
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The survey, conducted by Abbott, Langer & Associates Inc. and based on responses from 324 organizations concerning 57 benchmark jobs found the median annual income of CFOs to be $109,319.

The highest-paid CFOs work in or near:

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  • Chicago
  • Cincinnati
  • Birmingham, Alabama
  • Kansas City
  • Indianapolis
  • New York City
  • Denver or Colorado Springs
  • Memphis
  • or outside metropolitan areas in California and
  • South Carolina.

Median annual incomes, which include salaries, cash bonuses and profit sharing, in the accounting/financial field include:

  • corporate treasurer, $86,890;
  • chief corporate audit officer, $82,768;
  • corporate controller, $70,000;
  • senior accountant, $42,323;
  • auditor, $34,676;
  • payroll clerk, $27,727;
  • and junior account clerk, $21,925.

– Camilla Klein                        editors@plansponsor.com

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