Chief Financial Officer (CFO) Career Field

CFOCareer Overview

Chief financial officers (CFO’s) are top executives responsible for the financial planning, strategies, and reporting that make a company successful. This is an area where many companies, especially large companies, have come under deep scrutiny in the last few years as many companies had unethical financial reporting practices. The financial reporting that CFO’s are responsible to manage is particularly important in publicly traded companies. CFO’s can have management over financial decisions in all kinds of companies including public businesses and corporations, public-sector organizations, nonprofit institutions, and other organizations. These positions require long hours and at times a great deal of travel. There is a lot of competition for jobs in these top executive slots.

Education Requirements

Master’s Degree in Accounting/ Finance/MBA

A CFO does generally need at least a bachelor’s degree in finance or accounting but a master’s degree in accounting, finance, or business related field is preferred. Many companies also like their CFO to have their CPA (Certified Public Accountant) license.

Coursework

Finance
Accounting
Tax Law
Business Ethics
Financial Reporting &Forecasting
Financial Planning

School Recommendations

University of Texas-Austin
Duke University
University of Southern California
Baylor University
George State University

Employment Trends

Job Availability as of May 2008 for Top Executives: 2,133,500
Projected Employment through 2018 for Top Executives: 2,125,700
Average Annual Salaries for Top Executives in 2008: $158,560

Related Jobs

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Article Reference: Bureau of Labor Statistics

 

 

 

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One Comment

  1. Posted October 24, 2011 at 9:00 pm | Permalink

    CFO’s can definitely earn a lot of money but a lot of hard work is required. Today’s CFO’s do a lot more than just number cruching. They also need to know how to manage people (many are managers) and be IT and tech savvy. It’s a good field if you are strong in Math.

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