CFO is the Chief Financial Officer who deals with overseeing and directing the long term annual goals of finance of the company. He is responsible for business and accounting tasks and maintains the accuracy, timeliness and regulatory compliance of the financial reporting.
They are responsible for executing the financial strategy and work towards developing strategies for the growth of the company to increase its revenue and reduce its costs. They engage in preparing the monthly and annual financial plans. In short, the financial personnel are supervised and analysed by them and accordingly they develop strategies for the finances.
The salary of a CFO is likely to vary as per the experience and locations of the company. The normal US salary of a CFO is around $126,696 per year, as per Indeed reports and can also range from $30,000 to $291,000 per year.
This executive position requires you to be qualified in bachelor’s degree in accounting, finance or other related fields. This education is necessary because the course assists the students in developing analytical skills and guides them with the financial analysis method and software.
However, most of the companies prefer candidates with a Master of Business Administration (MBA) which is a two year program. Also, some MBA programs require candidates to have some work experience to be eligible for the program.
In order to be a CFO, you require substantial experience in a financial leadership role. Look out for internships if you are still in college to gain experience of working in a finance or accounting department.
After your bachelors, you can take up some entry level or associate level roles.
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