CFOs have been faced with unprecedented economic factors in the past three years, but pay has steadily increased to meet this burden, according to a recent analysis by DataRail, a financial planning and analysis platform,
From 2016 to 2021, the latest period for which official data exists, the average CFO compensation — involving salary, bonuses, stock awards and options — increased from $2.4million to $3.5 million, DataRails found in its analysis of 2,056 companies. The $1.1 million increase represents a 40 percent jump over the five-year period.
CFO stock awards rose to 63 percent of overall compensation in 2021, with compensation continuing to shift towards stock awards and away from salary, bonuses and stock options, according to the report. The percentage of total compensation that came from stock awards in 2021 jumped to 63 percent, up 10 percent from the 2016 value of 53 percent.
Among 26 sectors evaluated by DataRails, healthcare CFOs ranked 19th and took home an average of $2 million in 2021. CFOs in the cable and satellite industry topped the list with an average compensation of $8.1 million, while CFOs in education were at the bottom of the list, taking home $1.1 million on average.
Click here for more details on the analysis.