Fractional CFO Hourly Rates Guide 2024 | Rates for 50 US States

Fractional CFO Hourly Rates Guide

Download exclusive hourly rate insights for fractional, virtual, and outsourced CFO services.

Download Fractional CFO Hourly Rates Guide

Fractional CFO salaries and hourly rates

At CFO Recruit, we connect organisations with top-tier financial expertise utilizing our extensive network of fractional CFOs.

If your organization is considering employing a CFO on a part-time basis, understanding the associated costs is crucial. This page offers a detailed overview of fractional CFO hourly rates and salaries. Additionally, we provide a downloadable guide that delves deeper into these rates with an extensive analysis, broken down by the 50 US states and distinguishes between strategic fractional CFO hourly rates and the hourly rates of operational CFOs.

Why download our Fractional CFO Rates Guide?

Unlike many figures published by many online job boards, our CFO salary data isn’t the product of a random internet algorithm. Our CFO Salary Guide is possibly the only guide developed through collecting salary data directly from CFOs.

How are we able to generate such accurate CFO Salary information?

We have one of the largest databases of CFO candidates in the USA. Using this (and our unique online candidate registration portal), we regularly collect data from US CFOs about their earnings and the CFO hourly rate expectations that would motivate them to consider a career move. In addition to salary insights, we also ask them about the benefits they receive. This attention to detail allows us to offer the most thorough CFO hourly rate guide available. Updated annually, our guide provides relevant, region-specific information for the USA market.

Fractional CFO Hourly Rate and Salary Insights

Fractional CFOs offer a flexible solution for businesses that require high-level financial expertise without the need for a full-time employee. Hourly rates for Fractional CFOs can vary significantly based on several factors such as industry sector, size of organisation, location within the USA, and the CFO’s experience and qualifications. Rates typically range from $150 to $350 per hour, reflecting the depth of responsibility and the strategic value a specific CFO brings to a business.

For longer-term appointments, a fixed salary might be more appropriate. Salaries are usually set annually based on the responsibilities and expected hours, ranging from $60,000 to over $150,000 per year for part-time CFO roles. This structured approach helps businesses effectively control costs while from benefiting expert financial guidance.

Explore Our Detailed Fractional CFO Salary Guide

For a closer look at compensation, we encourage you to download our Fractional CFO Salary Guide. This comprehensive resource provides an in-depth analysis of hourly rates across all 50 states and differentiates between the compensation for strategic CFOs, who focus on long-term business planning, and operational CFOs, who manage day-to-day financial operations. This guide is an invaluable tool for businesses planning how to structure their financial leadership strategy and is split by:

  • Fractional CFO Hourly Rates for an Operational CFO
  • Fractional CFO Hourly Rates for a Strategic CFO
  • Fractional CFO Hourly Rates for a Blended Skillset.

Other Key Factors Influencing Fractional CFO Salaries Compensation

  1. Experience and Expertise: Compensation tends to be higher for CFOs with extensive experience and a proven track record in areas like fundraising, mergers & acquisitions, business exits, IPO preparation, and financial restructuring.
  2. Industry Specifics: Some industries require CFOs with specialized knowledge, which can affect fractional CFO rates.
  3. Company Size and Revenue: Typically, larger organizations or those with more complex financial structures require more seasoned CFOs, influencing the rates and salaries.
  4. Geographical Location: Differences in cost of living and local market demand can significantly impact compensation. If you require someone to travel to your offices then you will probably be restricted by a limited supply although this is where we come in with our extensive network of Part-Time & Fractional CFOs.

Rates and Salaries for Related Roles

  • Virtual CFO Rates: Virtual CFOs generally work remotely, and their compensation often aligns with that of fractional CFOs but can be adjusted lower due to reduced overhead costs.
  • Outsourced CFO Rates Outsourced CFOs can be employed on a contract basis by third-party firms, and their compensation may mirror those of fractional or virtual CFOs, structured around the terms of their service agreements. However, be aware that if you are going through a CFO consultancy firm then the cost tends to be higher due to head office overheads.

Choosing to hire a fractional, virtual, or outsourced CFO is a strategic decision that can provide substantial financial and operational benefits. By understanding the various aspects of CFO compensation, companies can make informed decisions that align with their financial goals and budgetary constraints. Download our comprehensive Fractional CFO rates data for guidance.

For more information on how our recruitment services can connect you with the right fractional or Part-Time CFO, please contact us. We are dedicated to helping you find the ideal financial leadership to drive your business forward.

Download our in-depth guide on Fractional CFO Rates and Salaries today to stay informed and competitive.

Download Fractional CFO Hourly Rate Guide

Fractional CFO Hourly Rates FAQs

How are hourly and day rates for Fractional CFOs structured?

Hourly and day rates for fractional CFOs vary based on their experience, industry specialization, and the scope of the role. Our guide provides an overview of these rates depending on your CFO needs.

How do Fractional CFOs charge for their time?

Our rates guide includes regional comparisons of hourly rates for fractional CFO’s. However, some fractional CFOs may charge on a daily or monthly basis.

Retainers are a good way of capping the fee and spreading the charges over 12 months even though though the demand will vary over the year. The benefit of a retainer to a fractional CFO is it gives them guaranteed monthly revenue.

What is the typical hourly rate for a Fractional CFO across different industry sectors?

Hourly rates vary by sector, reflecting the unique financial challenges and expertise required in each industry. Our figures given are all sector averages.

However, we split out the data by specific sector. When you use us to recruit your Fractional CFO we will be able to provide you with more accurate data for your sector, as well as guidance on the appropriate salary for the level of experience you require.

Can I negotiate the hourly rate of a Fractional CFO based on my company’s specific needs?

Yes, the guide includes general salary information, but individual CFOs may be open to negotiation depending on the quantity of time you desire and the amount of commitment you are prepared to give.

Where can I find average Fractional CFO rates for my region?

Our salary guide includes detailed information on regional variations in hourly rates to help you make informed decisions based on local market conditions.

The guide provides a state-by-state average for 3 types of fractional CFO skill sets. Our recruiters can give further guidance based on your specific circumstances.

How much does an outsourced CFO or freelance CFO cost?

Rates for fractional CFOs depend on the role complexity, company size, and the specific financial responsibilities involved.

Is it better to use a CFO consultancy firm or hire a Fractional CFO who operates as an independent freelancer?

Choosing between a CFO consultancy firm and an independent fractional CFO depends on your needs and budget. Consultancy firms will have head office operational costs to cover so they will tend to cost you more.

Using CFO Recruit to find a fractional CFO can provide you with a range of independent fractional CFOs with experience in your type of business. By hiring an independent fractional CFO, you will save on the heavy head office margins associated with CFO consultancy firms.

How can CFO Recruit help me find a Fractional CFO?

CFO Recruit specializes in connecting companies with skilled fractional CFOs tailored to their specific financial requirements. We assess your company’s needs and provide a selection of qualified fractional CFO candidates to interview

These CFOs can manage financial tasks and strategies effectively and flexibly, aligning with your business goals and budget constraints. We always look for candidates with experience working with your type of organization.

What is the cheapest most cost-effective way of hiring a Fractional CFO?

You can hire a Fractional CFO directly. A quick internet search will put you in touch with a consultancy firm or a CFO generalist who can do a job for you.

Keep in mind that CFO consultancy firms often place a high markup on their hourly rates, so you might end up paying double compared to if you hired a CFO directly.

However, be mindful that a CFO generalist will take time before they get to know your sector and start to add value. Alternatively, give us a call and we will put you in touch with several independent CFOs who have experience with your type of business and can add value almost immediately.

Should I meet several CFOs before I hire one?

Going to a small CFO consultancy firm or hiring someone from your local network can reduce your options. Surely you want the best CFO for your business not just the best of a limited pool.

This is where CFO Recruit comes in. We know most of the fractional CFOs in the market so we can introduce you to the most appropriate fractional CFOs for your business.

When making important decisions, like buying your first home or making a key business hire, you don’t just choose the first option you see. You should compare all available options thoroughly, or engage a professional service like CFO Recruit to assist in the process, to ensure you make the best choice.

Is it an advantage to recruit a fractional CFO with knowledge of our sector?

If you need a new home heating system, you wouldn’t necessarily call your local handyman. You would probably be better off calling a qualified heating engineer with years of proven experience and expertise. Hiring a CFO should be no different.

Hiring a CFO generalist may save you a few dollars in the hourly rate but the value they deliver will be a fraction of what someone can do when they are an expert in your type of business or your sector.