Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Bodybuilding Boards => Gym/Stores/Industry Business Board => Topic started by: onlyme on August 16, 2008, 07:53:46 PM
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Hey guys what is the typical salary for a CFO say for a company with $10 million
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I would say around 80-120k for that company size. Additional stock options and premiums are pretty much obligatory if you want someone good.
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Hey guys what is the typical salary for a CFO say for a company with $10 million
A company that size should probably be able to get by with a qualified Controller on approx $90k-$100k plus bonus and pension of 20%. Companies who actually need a CFO usually do so because they need someone respected by the financial institutions and auditors for raising debt etc or else because they are part of a group and need someone who is credible at quarterly group meetings etc. In most small to medium companies the CFO is simply a glorified accountant and far too much money is spent on them. Companies needing a good credible CFO turning over $10-$50 million would need to pay $150k to $200k basic plus bonus of up to 30% and a 15% pension contribution. Share options are not as common for CFO's as you might think as most equity is tied up in existing members or public listing or whatever. Most common reason for CFO's getting stock when they join a struggling or growing business and actually put their own cash into the deal with a proportional amount of options or soft loan debt as an incentive.
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A company that size should probably be able to get by with a qualified Controller on approx $90k-$100k plus bonus and pension of 20%. Companies who actually need a CFO usually do so because they need someone respected by the financial institutions and auditors for raising debt etc or else because they are part of a group and need someone who is credible at quarterly group meetings etc. In most small to medium companies the CFO is simply a glorified accountant and far too much money is spent on them. Companies needing a good credible CFO turning over $10-$50 million would need to pay $150k to $200k basic plus bonus of up to 30% and a 15% pension contribution. Share options are not as common for CFO's as you might think as most equity is tied up in existing members or public listing or whatever. Most common reason for CFO's getting stock when they join a struggling or growing business and actually put their own cash into the deal with a proportional amount of options or soft loan debt as an incentive.
I agree with most of that, although I would take a good financial advisor on board from day one. If you want someone experienced who is willing to go the extra mile, you will have to give him stock, since you will not be able to pay 150-200k at the beginning.
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A company that size should probably be able to get by with a qualified Controller on approx $90k-$100k plus bonus and pension of 20%. Companies who actually need a CFO usually do so because they need someone respected by the financial institutions and auditors for raising debt etc or else because they are part of a group and need someone who is credible at quarterly group meetings etc. In most small to medium companies the CFO is simply a glorified accountant and far too much money is spent on them. Companies needing a good credible CFO turning over $10-$50 million would need to pay $150k to $200k basic plus bonus of up to 30% and a 15% pension contribution. Share options are not as common for CFO's as you might think as most equity is tied up in existing members or public listing or whatever. Most common reason for CFO's getting stock when they join a struggling or growing business and actually put their own cash into the deal with a proportional amount of options or soft loan debt as an incentive.
thought u were SCOTTISH?
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I am Scottish but worked as group controller of a US based multinational in California back in the late 70's / early 80's. My last FD role was Bowater Plc (now Rexam) group and we controlled 202 companies round the world including 31 in the USA. I still sit as a non exec director with 3 Scottish companies which have overseas subsidiaries. Right now I am working on european fundraising for an Ohio based Photovoltac (solar) business.
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I am Scottish but worked as group controller of a US based multinational in California back in the late 70's / early 80's. My last FD role was Bowater Plc (now Rexam) group and we controlled 202 companies round the world including 31 in the USA. I still sit as a non exec director with 3 Scottish companies which have overseas subsidiaries. Right now I am working on european fundraising for an Ohio based Photovoltac (solar) business.
202 companiess???????
sounds like u know a thing or two about business then jimmy........
where u from in scotland?..... im from Glasgow am fae glesga ;D
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I'm frae sunny east kilbride monstercalves. :D
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E.K has changed a wee bit since the late 70s......
do u live there now?... are u not an IFBB judge?