From the perspective of required skills , a financial director is required to:
foresight, to be able to combine the short, medium and long term;
problem solving, leadership and diplomacy, which are essential for managing the numerous internal and external relationships that concern him/her;
preparation in the regulatory field, to monitor compliance with standards by the company and its partners;
knowledge of markets in general and especially of the reference market in which it operates;
familiarity and mastery of spreadsheets, data management and analysis, and technological management tools.
How to become a CFO?
Understanding exactly what a CFO does is not easy. In fact, the number of tasks and skills required requires a very high level of training, as well as solid work experience, especially in the field of accounting and finance. The chief financial officer oversees all activities carried out within accounting offices, for treasury management, financial planning and relations with banks and credit institutions.
Typically, becoming a CFO requires a degree and a master's cambodia whatsapp data degree in the economic field , such as an Executive MBA or a Global MBA , although humanistic courses are not excluded, accompanied by a master's degree in the business sector. This type of training allows the student to acquire the skills necessary to perform the countless functions of a CFO. In particular, the academic path should focus on auditing, finance, accounting and control mechanisms.
However, what makes the difference in a CFO's career is the opportunity to learn the trade through practice and experience . Indeed, becoming a CFO often represents the natural culmination of professional growth within a company's accounting departments. In the case of a small, innovative startup, for example, it can be set up as an entry-level role for the project.
Several factors come into play when determining a CFO's salary , the most important of which are the years of experience, the actual skills acquired and the type of company where the person works. The average annual salary of a CFO in Spain is around 43,000 euros, with a minimum of around 33,000 euros for junior figures in small companies, and a maximum of more than 100,000 euros for professionals with a high level of seniority or active in the context of large corporations.
It is clear that the centrality and omnipresence of the CFO is well paid. Depending on the company, they can even earn several hundred thousand euros or even millions, as is the case for the financial directors of multinationals. Ruth Porat, chief financial officer of Alphabet, the group that controls Google, received total compensation estimated at around $70 million in 2015. Apple's CFO, Luca Maestri, earns a salary of around $25 million a year, while David Wehner, CFO of Meta, 'makes do' with around €21 million. In addition to the salary, other extras must also be taken into account, such as company cars, shares and supplementary pensions.