A person working as a Chief Financial Officer in Australia typically earns around 189,000 AUD per year. Salaries range from 96,200 AUD (lowest) to 291,000 AUD (highest).
This is the average yearly salary including housing, transport, and other benefits. Chief Financial Officer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Chief Financial Officer salaries in Australia range from 96,200 AUD per year (minimum salary) to 291,000 AUD per year (maximum salary).
The median salary is 185,000 AUD per year, which means that half (50%) of people working as Chief Financial Officer(s) are earning less than 185,000 AUD while the other half are earning more than 185,000 AUD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Chief Financial Officer(s) are earning less than 127,000 AUD while 75% of them are earning more than 127,000 AUD. Also from the diagram, 75% of Chief Financial Officer(s) are earning less than 233,000 AUD while 25% are earning more than 233,000 AUD.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Chief Financial Officer salaries by experience level and this is what we found.
A Chief Financial Officer with less than two years of experience makes approximately 108,000 AUD per year.
While someone with an experience level between two and five years is expected to earn 141,000 AUD per year, 31% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 197,000 AUD per year, 40% more than someone with two to five years of experience.
Additionally, Chief Financial Officer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 237,000 AUD per year, 20% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 258,000 AUD per year, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 278,000 AUD per year, 8% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+31%|
|5 - 10 Years||+40%|
|10 - 15 Years||+20%|
|15 - 20 Years||+9%|
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Chief Financial Officer salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Chief Financial Officer is 129,000 AUD per year.
While someone with a Certificate or Diploma gets a salary of 149,000 AUD per year, 15% more than someone having a High School degree.
A Bachelor's Degree gets its holder an average salary of 209,000 AUD per year, 41% more than someone with a Certificate or Diploma.
Professionals who hold a Master's Degree are rewarded with an average salary of 269,000 AUD per year, 29% more than someone with Bachelor's Degree.
|Certificate or Diploma||+15%|
A Master's degree program or any post-graduate program in Australia costs anywhere from 38,100 Australian Dollar(s) to 114,000 Australian Dollar(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Chief Financial Officer employees in Australia earn 8% more than their female counterparts.
Chief Financial Officer(s) in Australia are likely to observe a salary increase of approximately 14% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Listed above are the average annual increase rates for each industry in Australia for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
A Chief Financial Officer is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
17% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 83% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.
The most standard form of bonus where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone.Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Where can you get paid more, working for a private company or for the government? Public sector Chief Financial Officer employees in Australia earn 5% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+2%|
|Average Salary 2019||+3%|
Chief Financial Officer salaries in Australia are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The average salary for Chief Financial Officer is 52% more than that of Executive and Management. Also, Executive and Management salaries are 36% more than those of All Jobs.
|Job Title||Average Salary|
|Account Coordinator||88,300 AUD||-53%|
|Administration Manager||105,000 AUD||-44%|
|Area Manager||103,000 AUD||-45%|
|Asset Protection Associate||109,000 AUD||-42%|
|Assistant Director||109,000 AUD||-42%|
|Assistant Manager||117,000 AUD||-38%|
|Assistant Operations Manager||126,000 AUD||-33%|
|Assistant Project Manager||109,000 AUD||-42%|
|Assistant Section Head||93,200 AUD||-51%|
|Assistant to CEO||106,000 AUD||-44%|
|Assistant Vice President||119,000 AUD||-37%|
|Associate Director||106,000 AUD||-44%|
|Bid Manager||130,000 AUD||-31%|
|Branch Manager||115,000 AUD||-39%|
|Business Development Manager||129,000 AUD||-32%|
|Business Operations Associate||106,000 AUD||-44%|
|Business Operations Lead||111,000 AUD||-41%|
|Campaign Manager||128,000 AUD||-32%|
|Chairman of The Board||213,000 AUD||+13%|
|Chairman Office Manager||128,000 AUD||-32%|
|Chief Corporate Officer||164,000 AUD||-13%|
|Chief Executive Officer||204,000 AUD||+8%|
|Chief Financial Officer||189,000 AUD||+0%|
|Chief of Staff||97,900 AUD||-48%|
|Chief Operating Officer||146,000 AUD||-23%|
|Chief Risk Officer||140,000 AUD||-26%|
|Client Services Manager||141,000 AUD||-25%|
|Commercial Project Manager||114,000 AUD||-40%|
|Commodity Broker||85,200 AUD||-55%|
|Corporate Affairs Executive||124,000 AUD||-34%|
|Corporate Compliance Director||136,000 AUD||-28%|
|Corporate Director||145,000 AUD||-23%|
|Corporate Officer||98,800 AUD||-48%|
|Corporate Partnerships Officer||102,000 AUD||-46%|
|Country Manager||170,000 AUD||-10%|
|Deputy Director||151,000 AUD||-20%|
|Director of Accreditation||144,000 AUD||-24%|
|Director of Catering Services||131,000 AUD||-31%|
|Director of Client Services||139,000 AUD||-26%|
|Director of Facilities Management||110,000 AUD||-42%|
|Director of Operations||137,000 AUD||-27%|
|Director of Process Simplification||111,000 AUD||-41%|
|Director of Project Management||143,000 AUD||-24%|
|Director of Revenue Management||122,000 AUD||-35%|
|Director of Training and Development||132,000 AUD||-30%|
|Distribution Manager||143,000 AUD||-24%|
|Division Manager||121,000 AUD||-36%|
|Duty Manager||116,000 AUD||-39%|
|Engagement Manager||145,000 AUD||-23%|
|Executive Director||209,000 AUD||+11%|
|Executive Manager||171,000 AUD||-9%|
|Franchise Manager||183,000 AUD||-3%|
|General Manager||167,000 AUD||-12%|
|Global Master Data Manager||144,000 AUD||-24%|
|Head of Middle Office||136,000 AUD||-28%|
|Head of Projects||137,000 AUD||-27%|
|Head of Sustainability||122,000 AUD||-35%|
|Housing Manager||117,000 AUD||-38%|
|HSE Manager||113,000 AUD||-40%|
|Key Account Manager||115,000 AUD||-39%|
|Knowledge Manager||130,000 AUD||-31%|
|Location Manager||125,000 AUD||-34%|
|Logistics Manager||114,000 AUD||-40%|
|Management Consultant||115,000 AUD||-39%|
|Management Executive||153,000 AUD||-19%|
|Managing Director||177,000 AUD||-6%|
|MIS Executive||145,000 AUD||-23%|
|Ocean Services Manager||149,000 AUD||-21%|
|Operations Assistant||99,900 AUD||-47%|
|Operations Director||149,000 AUD||-21%|
|Operations Executive||151,000 AUD||-20%|
|Operations Manager||161,000 AUD||-15%|
|Operations Supervisor||129,000 AUD||-32%|
|Policy Administration Executive||120,000 AUD||-36%|
|Private Sector Executive||127,000 AUD||-33%|
|Product Development Manager||140,000 AUD||-26%|
|Product Executive||119,000 AUD||-37%|
|Production Executive||138,000 AUD||-27%|
|Production Manager||147,000 AUD||-22%|
|Production Supervisor||119,000 AUD||-37%|
|Program Manager||141,000 AUD||-25%|
|Programme Coordinator||100,000 AUD||-47%|
|Project Control Manager||151,000 AUD||-20%|
|Project Coordinator||85,900 AUD||-54%|
|Project Management Officer||96,000 AUD||-49%|
|Project Manager||104,000 AUD||-45%|
|Project Portfolio Manager||110,000 AUD||-42%|
|Quality Manager||114,000 AUD||-40%|
|R/D Director||129,000 AUD||-32%|
|Regional Director||196,000 AUD||+4%|
|Regional Manager||142,000 AUD||-25%|
|Relationship Manager||143,000 AUD||-24%|
|Retail District Manager||100,000 AUD||-47%|
|Revenue Manager||115,000 AUD||-39%|
|Risk and Capital Manager||158,000 AUD||-16%|
|Risk Officer||107,000 AUD||-43%|
|Safety Manager||104,000 AUD||-45%|
|Section Head||112,000 AUD||-41%|
|Service Manager||108,000 AUD||-43%|
|Shift Supervisor||84,500 AUD||-55%|
|Solutions Manager||95,900 AUD||-49%|
|Supply Chain Manager||142,000 AUD||-25%|
|Technical Manager||129,000 AUD||-32%|
|Territory Manager||136,000 AUD||-28%|
|Validation Manager||115,000 AUD||-39%|
|Vice President||162,000 AUD||-14%|
|Zone Manager||141,000 AUD||-25%|
|Gold Coast-Tweed||193,000 AUD|
|Sunshine Coast||186,000 AUD|