Comments on: Is your CFO a Joke?

By: Producer Los Angeles

Producer Los Angeles — Fri, 13 Jan 2012 15:36:51 +0000

Thanks for your posting. I also think laptop computers have grown to be more and more popular lately, and now tend to be the only form of computer found in a household. The reason being at the same time they are becoming more and more reasonably priced, their processing power is growing to the point where they may be as potent as personal computers out of just a few in years past.

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By: Gabe Galvez

Gabe Galvez — Mon, 17 May 2010 16:33:03 +0000

This posting bring up a great point about job descriptions in general. Its nearly impossible to compensate someone correctly if the employer does not have a deep understanding of what the position entails. Often times HR, or hiring managers do not have the depth of knowledge to tell the difference between that critical Controller vs CFO debate.

On a personal note I will tell you, the accounting management side of the job is fine, but the really challenging and rewarding part is all the other stuff (i.e risk management, deep analysis, strategy work etc..)

By: Tom Trutna

Tom Trutna — Thu, 18 Mar 2010 17:19:17 +0000

Ren: This is right on the money, just this morning I was just looking for the difference between the two, it’s clear I am looking for a Controller. Thank you for saving me time and money.

By: Herb Kalman

Herb Kalman — Wed, 27 Jan 2010 17:51:45 +0000

Your description of the difference between a controller and a CFO is on point. We are a CPA firm and have had that discussion more than once.

By: Walter Hastings

Walter Hastings — Tue, 19 Jan 2010 23:03:50 +0000

Great article. In my experience, I have found that the CEO/President of small companies like this are the person/persons that originally started the company. They don’t have any real concept what their top financial person does from day to day. Typically they themselves enter into projects and or deals without ever first consulting or including their CFO or Controller in the discussions and many time they get sold a raw deal.

By: Mike Mason

Mike Mason — Tue, 19 Jan 2010 19:38:17 +0000

Great article. I once accepted a CFO position with a $100 million Florida-based company for $165,000 per year (the rates cited in the article are way, way off). After a few weeks, it became clear that the CEO really wanted nothing more than a controller. After 6 months I left for a better role in a better run company.

By: Piotr

Piotr — Tue, 19 Jan 2010 10:21:10 +0000

Indeed, the location (South Florida) and job market determine the pay rates. Remember, there are hundreds of skilled Finance employees unemployend and underemployed in the country. I am sure they would move from Oregon or Minnesota to Florida for the salary mentioned in the article.
It isrrelevant, how much companies are paying. What matters is – for how much you can find a candidate now. And this is significantly lower that two years ago.

By: Neil Gordon

Neil Gordon — Fri, 15 Jan 2010 19:41:27 +0000

Perhaps we need to remember that the Chief Financial Officer is just that, the chief financial officer. Taken literally, the skills of any company’s CFO should match that company’s recurring needs, not some hypothetical job description.

Most middle market and smaller companies need systems, controls and reports more than they need finance, M&A and the like (at least day to day). When the periodic need arrises, the company should reach outside and supplement the limited skills of their otherwise competent (presumably) CFO.

By: Frank Lu

Frank Lu — Fri, 15 Jan 2010 18:36:29 +0000

1) To all the folks commenting about the wages be aware that you are dealing with South Florida – many skilled people will take a lot less to be there just to be there.

2) Regarding the tasks and the pay level and title – be careful. Many times is talking to CEO’s they do not realize exactly what is done and who is doing it in these small organazitions. Comments like “some” IT or HR could mean running the whole department. While these CEO many not give CFO’s credit it is the sum of total effort and we all known who is number one.

3) How many times have seen lenders give more importance to the CFO type rather the CEO. Being the quality control person who the lender trusts can trump all the rest. No consultant type and walk in and have that – it must be earned. With very tight credit currently this may even more key. Many CEO’s do not get this – till their line reduced or pulled.

Having sat in all three chairs and seen stranger things than what presented here I would say that many questions need to answered before coming to a conclusion.