Whether in tech or health care, manufacturing or marketing, every organization needs strong financial leadership. Opportunities for chief financial officer (CFO) careers are numerous and range across industries and organization types and sizes. Pursuing a career as a CFO takes strong financial skills and a solid educational foundation, which working professionals can acquire through specialized online Master of Business Administration (MBA) in finance programs offered by respected schools like Florida Institute of Technology.
Chief Financial Officers Job Outlook
The U.S. Bureau of Labor Statistics (BLS) projects employment of chief executives, including CFOs, will grow steadily in coming years, resulting in a 5% increase in jobs between 2023 and 2033. This is somewhat faster than the average growth of all occupations.
Job growth will vary by industry and generally reflect the growth or decline of each specific industry. For example, healthcare is a rapidly growing field and should have more opportunities for top executives. Competition is strong for top positions; candidates with strong managerial experience, leadership qualities and advanced education credentials could have an advantage.
Job Description for CFOs
While chief financial officer duties vary with an organization’s size and industry, CFOs are generally responsible for guiding and overseeing an organization’s day-to-day and long-term financial operations. CFOs coordinate the actions of the accounting and finance departments and ensure the entire organization meets fiscal responsibilities according to established objectives.
These senior finance professionals are executive-level leaders and typically report directly to the chief executive officer (CEO) and board. CFOs are often responsible for strategic financial planning and contributing to the overall strategic operational plan of the business. This role could also include participating in acquisition, divestiture and merger activities.
Executives in the CFO position may be responsible for all budgeting and forecasting activities, as well as overseeing investing and financing. They may plan, direct and coordinate budget preparation for the entire organization. Reviewing and approving financial reports, budgets, contracts and capital expenditures are additional job duties for CFOs. Further, chief financial officers supervise cash management activities and execute capital-raising strategies to support a firm’s operations or expansion.
Chief financial officers usually work in a private office; a 40-hour week is standard. Depending on the company’s size, the job may require travel to satellite offices. At certain times of the year — such as quarter-end and year-end reporting periods — chief financial officers may put in extra hours to meet important deadlines.
Salary Potential: Chief Financial Officers
According to data from the 2025 Salary Guide compiled by Robert Half, Inc., the typical salary range of chief financial officers is $194,250 to $321,750, with a median annual salary of $268,250. In addition, CFOs often earn a substantial amount through profit-sharing, bonuses and other forms of additional compensation, and larger companies with higher revenues tend to pay more. The data shows that the top salaries generally go to those with solid experience and the advanced education employers need to remain competitive in a changing global business environment.
Education and Training Requirements
Most chief financial officer positions require at least a bachelor’s degree and extensive experience, but many top employers prefer candidates with a specialized graduate degree, such as an MBA in finance. Thus, professionals who wish to advance into a chief financial officer position can improve their career prospects by enrolling in a finance MBA program like the one offered fully online by Florida Tech.
Beyond core MBA studies, specialized finance coursework in Florida Tech’s program covers subjects like finance markets and institutions, investment management, financial management and portfolio analysis. Employers can be confident that graduates of a quality MBA in finance are able to:
- Use critical thinking to make decisions and solve problems
- Apply modern theories of leadership, management and negotiation to real-world challenges
- Understand how managerial economics and microeconomics influence effective decision-making
- Apply financial management practices effectively
- Assess risk using financial, statistical and economic data and create manageable solutions
- Evaluate portfolio performance and manage investment processes
- Leverage advanced knowledge and skills to succeed as a chief financial officer
Do You Aspire to Advance to a Chief Financial Officer Career?
The challenges of a CFO position require highly developed accounting skills, as well as leadership, self-motivation and decisiveness. For those who possess these qualities and the desire to advance a career to new heights, a chief financial officer role could be the perfect aspiration. Florida Tech’s online MBA in Finance program provides the skills and knowledge top employers want and helps graduates build the confidence needed to compete for a top position as a CFO.
Learn more about Florida Tech’s online MBA in Finance program.
