VP/Head of Finance Salary Guide

What is the Average Salary of a VP or Head of Finance?

The average salary in the US for a VP of Finance is $221,307.

How Does Tenure Impact Earnings?

Years of Experience Salary Range Notes
5-7 Years $150,000 – $200,000 Solid experience in financial leadership, strong accounting and financial analysis skills. May lead a team of finance professionals.
8-10 Years $180,000 – $250,000 Proven track record of success in leading financial operations, experience with strategic financial planning and analysis.
10+ Years $220,000 – $300,000+ Extensive experience, strong leadership and communication skills. Potential for overseeing complex financial operations, including mergers & acquisitions or investor relations.
5-7 Years
Salary Range $150,000 – $200,000
Notes Solid experience in financial leadership, strong accounting and financial analysis skills. May lead a team of finance professionals.
8-10 Years
Salary Range $180,000 – $250,000
Notes Proven track record of success in leading financial operations, experience with strategic financial planning and analysis.
10+ Years
Salary Range $220,000 – $300,000+
Notes Extensive experience, strong leadership and communication skills. Potential for overseeing complex financial operations, including mergers & acquisitions or investor relations.

How Does Organization Size Impact Earnings?
Small (Less than 100 Employees) $100,000 – $150,000 May oversee all financial operations with limited staff support.
Mid-Size (100-1,000 Employees) $130,000 – $180,000 Likely to manage a team of finance professionals and focus on core financial activities (accounting, budgeting, reporting).
Large (1,000-10,000 Employees) $160,000 – $230,000 Increased responsibility for strategic financial planning, potential involvement in mergers & acquisitions or investor relations. May lead a larger finance department.
Very Large (10,000+ Employees) $200,000 – $300,000+ Overseeing complex financial operations, potentially leading a team of directors or senior managers within the finance department.
Small (Less than 100 Employees)
$100,000 – $150,000
May oversee all financial operations with limited staff support.
Mid-Size (100-1,000 Employees)
$130,000 – $180,000
Likely to manage a team of finance professionals and focus on core financial activities (accounting, budgeting, reporting).
Large (1,000-10,000 Employees)
$160,000 – $230,000
Increased responsibility for strategic financial planning, potential involvement in mergers & acquisitions or investor relations. May lead a larger finance department.
Very Large (10,000+ Employees)
$200,000 – $300,000+
Overseeing complex financial operations, potentially leading a team of directors or senior managers within the finance department.

Which Industries Pay VPs of Finance the Most?

Industry Justification
1. Technology (Software & Internet) * High-growth and fast-paced environment with complex financial modeling needs due to subscription-based revenue models, potential for R&D expenses, and frequent acquisitions. * VP of Finance needs to be a strategic partner to the CEO, guiding financial decisions for rapid growth and potential IPO readiness. * Competitive salaries offered to attract skilled financial leaders who can navigate the ever-changing tech landscape and manage risk associated with high-growth startups or established tech giants.
2. Financial Services (Banking, Insurance, Investment Management) * Highly regulated industry with strict financial reporting requirements, complex financial instruments, and global operations. * VP of Finance needs deep financial expertise in areas like risk management, capital allocation, and regulatory compliance. * Experience in mergers & acquisitions and investor relations becomes crucial for larger financial institutions. * Financial services firms are willing to offer top dollar to attract and retain VP-level talent with the necessary skills and experience.
3. Healthcare & Pharmaceuticals * Growing and complex industry with evolving regulations, pressure on costs, and potential for mergers & acquisitions. * VP of Finance needs to manage financial aspects of clinical trials, drug development, and ensure pricing strategies comply with healthcare regulations. * Expertise in navigating the unique financial challenges of the healthcare sector becomes important. * Competitive salaries offered to attract skilled financial leaders who can manage the financial risks and opportunities in this dynamic industry.
4. Energy & Utilities * Capital-intensive industry with significant financial modeling needs due to fluctuating commodity prices and infrastructure projects. * VP of Finance needs to manage risk associated with energy market volatility, ensure financial stability, and potentially oversee complex financing arrangements. * Experience in areas like project finance and regulatory compliance can be valuable assets. * Competitive salaries offered to attract skilled financial leaders who can navigate the financial complexities of the energy sector.
5. Consumer Goods & Retail * Large, global companies with complex supply chains, international operations, and potential for mergers & acquisitions. * VP of Finance needs to manage financial aspects of inventory management, pricing strategies, and ensure profitability across various product lines and geographical regions. * Expertise in international financial operations and managing foreign exchange fluctuations becomes crucial for multinational corporations. * Competitive salaries offered to attract skilled financial leaders who can manage the financial aspects of a global consumer goods or retail company.
1. Technology (Software & Internet)
Justification * High-growth and fast-paced environment with complex financial modeling needs due to subscription-based revenue models, potential for R&D expenses, and frequent acquisitions. * VP of Finance needs to be a strategic partner to the CEO, guiding financial decisions for rapid growth and potential IPO readiness. * Competitive salaries offered to attract skilled financial leaders who can navigate the ever-changing tech landscape and manage risk associated with high-growth startups or established tech giants.
2. Financial Services (Banking, Insurance, Investment Management)
Justification * Highly regulated industry with strict financial reporting requirements, complex financial instruments, and global operations. * VP of Finance needs deep financial expertise in areas like risk management, capital allocation, and regulatory compliance. * Experience in mergers & acquisitions and investor relations becomes crucial for larger financial institutions. * Financial services firms are willing to offer top dollar to attract and retain VP-level talent with the necessary skills and experience.
3. Healthcare & Pharmaceuticals
Justification * Growing and complex industry with evolving regulations, pressure on costs, and potential for mergers & acquisitions. * VP of Finance needs to manage financial aspects of clinical trials, drug development, and ensure pricing strategies comply with healthcare regulations. * Expertise in navigating the unique financial challenges of the healthcare sector becomes important. * Competitive salaries offered to attract skilled financial leaders who can manage the financial risks and opportunities in this dynamic industry.
4. Energy & Utilities
Justification * Capital-intensive industry with significant financial modeling needs due to fluctuating commodity prices and infrastructure projects. * VP of Finance needs to manage risk associated with energy market volatility, ensure financial stability, and potentially oversee complex financing arrangements. * Experience in areas like project finance and regulatory compliance can be valuable assets. * Competitive salaries offered to attract skilled financial leaders who can navigate the financial complexities of the energy sector.
5. Consumer Goods & Retail
Justification * Large, global companies with complex supply chains, international operations, and potential for mergers & acquisitions. * VP of Finance needs to manage financial aspects of inventory management, pricing strategies, and ensure profitability across various product lines and geographical regions. * Expertise in international financial operations and managing foreign exchange fluctuations becomes crucial for multinational corporations. * Competitive salaries offered to attract skilled financial leaders who can manage the financial aspects of a global consumer goods or retail company.

How Can You Increase Your Earnings?

Obtain Executive Leadership Training

Enroll in executive leadership or advanced management programs offered by reputable institutions. These programs are designed to enhance strategic thinking, leadership skills, and business acumen.

Executive education can significantly boost a VP of Finance’s profile and effectiveness in leading complex corporate strategies. According to a survey by the Graduate Management Admission Council (GMAC), individuals who completed executive MBA programs reported substantial salary increases, often exceeding 20% post-graduation. This additional training equips them with broader skills that are highly valued at executive levels, translating into higher compensation.

Specialization in High-Demand Financial Areas

Specialize in areas such as mergers and acquisitions (M&A), international finance, or corporate restructuring. These areas often require nuanced expertise and can dramatically influence a company’s financial trajectory.

Specialists in high-stakes areas like M&A are critical during periods of corporate expansion or restructuring and command higher salaries due to the high value and impact of their work. According to the Robert Half 2020 Salary Guide, finance professionals with expertise in M&A and strategic investments often receive premiums due to the direct revenue implications and complex nature of their work.

Lead High-Impact Projects

Take the initiative to lead high-impact projects that significantly improve profitability or efficiency, such as major system integrations, cost reduction programs, or capital financing initiatives.

Leading successful projects that result in substantial savings or profit gains for the company can justify requests for salary increases. A study by Payscale noted that finance executives who can directly tie their efforts to improvements in profitability or cost savings are in a stronger position to negotiate higher compensation, as they demonstrate direct ROI from their initiatives.