Chief Financial Officer
Lead Financial Strategy
Shape Organizational Direction
Drive Executive Decisions
Undergraduate
Graduate
Post-Graduate
No degrees available
This is the educational pathway. There may be additional tests or licensure requirements necessary before begining to practice in the field. Consult your state guidelines for more. information.
Career Reality
Average Salary
The median annual wage for top executives was $103,840 in May 2024, with many earning significantly more depending on organization size and performance.
Job Market Demand
Employment of top executives is projected to grow about 6% from 2023 to 2033, with approximately 343,800 openings per year on average.
Work Environment
Office-based executive role with full-time hours, high responsibility, and direct collaboration with senior leadership and boards.
Common Employers
Corporations, nonprofit organizations, healthcare systems, educational institutions, financial institutions, and government entities.
Career Advancement
Progression from accountant or financial analyst to finance manager, controller, VP of Finance, and ultimately Chief Financial Officer.
Popular Titles
Core Areas of Impact
Is this career right for you?
What is the role of a Chief Financial Officer?
A Chief Financial Officer oversees an organization’s financial strategy, reporting, risk management, budgeting, and long-term fiscal planning.
What does a typical day look like?
Reviewing financial reports, meeting with executive leadership, analyzing forecasts, evaluating investment decisions, managing finance teams, and advising on strategic initiatives.
Where do CFOs work?
CFOs work in corporations, nonprofit organizations, healthcare systems, financial institutions, educational institutions, and government agencies.
What are the common job titles and career paths?
Career paths often begin in accounting or financial analysis roles and progress through finance manager, controller, or VP of Finance before reaching CFO.
Who is this career a good fit for?
This career suits individuals with strong financial expertise, leadership ability, strategic thinking, and comfort with high-level decision-making.
What are the biggest rewards of this career?
Rewards include executive leadership influence, high earning potential, organizational impact, and strategic authority.
What does long-term growth look like?
Long-term growth may include leading larger organizations, serving on boards, or transitioning into CEO or advisory roles.
What does the educational pathway for a CFO look like?
There is no single required degree to become a CFO, but most begin with a bachelor’s degree in accounting or business administration.
A BA in Accounting provides strong preparation in financial reporting, compliance, and auditing, which are foundational for leadership in finance. A BA in Business Administration builds expertise in management, operations, and corporate strategy.
Many CFOs pursue a Master of Business Administration to strengthen executive-level strategic and leadership skills. CPA licensure is common among CFOs, especially those who begin their careers in accounting or auditing.
Sara Schenirer’s BA in Accounting, BA in Business Administration, and MBA together create a clear academic pathway from foundational finance knowledge to executive leadership preparation.
