Ever since the economic downturn, finance chiefs have been asked to do a whole lot more. New research shows that most CFOs’ paychecks reflect this added responsibility.
Seventy-eight percent of CFOs received raises at median rate of 3.5% back in 2010 — according to a recent analysis by Compensation Advisory Partners.
While the CFO always plays an essential role in a company’s business operations, that role takes on an added-importance in tough economic climates. During the recession, tasks such as restructuring the company and searching out companywide cost savings generally fell squarely on CFOs’ shoulders.
The Compensation Advisory Partners study also found that from 2009 to 2010, CFOs:
- Bonuses increased 15.6%, and
- Long-term incentives went up 18.6%.