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Chief Financial Officer Average Salary in Australia 2020

How much money does a Chief Financial Officer make in Australia?


Average Yearly Salary
189,000 AUD
( 15,700 AUD monthly)

LOW
96,200
AUD
AVERAGE
189,000
AUD
HIGH
291,000
AUD

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 Salary Distribution in Australia

Median and salary distribution yearly Australia Chief Financial Officer
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The median, the maximum, the minimum, and the range

  • Salary Range

    Chief Financial Officer salaries in Australia range from 96,200 AUD per year (minimum salary) to 291,000 AUD per year (maximum salary).

  • Median 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.

  • Percentiles

    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.


What is the difference between the median and the average salary?

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

Chief Financial Officer Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience yearly Australia Chief Financial Officer
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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.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

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.


Chief Financial Officer average salary change by experience in Australia

0 - 2 Years
108,000 AUD
2 - 5 Years+31%
141,000 AUD
5 - 10 Years+40%
197,000 AUD
10 - 15 Years+20%
237,000 AUD
15 - 20 Years+9%
258,000 AUD
20+ Years+8%
278,000 AUD
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Chief Financial Officer Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Chief Financial Officer(s) who have the same experience but different education levels.

Salary comparison by education level yearly Australia Chief Financial Officer
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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.


Chief Financial Officer average salary difference by education level in Australia

High School
129,000 AUD
Certificate or Diploma+15%
149,000 AUD
Bachelor's Degree+41%
209,000 AUD
Master's Degree+29%
269,000 AUD
Percentage increase and decrease are relative to the previous value

Is a Master's degree or an MBA worth it? Should you pursue higher education?

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.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Chief Financial Officer Salary Comparison By Gender

Salary comparison by gender yearly Australia Chief Financial Officer
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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.

Female
182,000 AUD
Male+8%
196,000 AUD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Australia for all Careers

Salary comparison by gender yearly Australia
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Chief Financial Officer Average Annual Salary Increment Percentage in Australia

How much are annual salary increments in Australia for Chief Financial Officer(s)? How often do employees get salary raises?

Chief Financial Officer

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.

Annual Salary Increment Rate Australia Chief Financial Officer
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Australia / All Professions

Annual Salary Increment Rate Australia
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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.

How to calculate the salary increment percentage?

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

The average salary increase in one year (12 months) in Australia is 6%.

Annual Increment Rate By Industry 2019

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

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.


Worldwide Salary Raises: All Countries and All Jobs

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Chief Financial Officer Bonus and Incentive Rates in Australia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Australia Chief Financial Officer
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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.

Received Bonus
83%
No Bonus
17%

Types of Bonuses Considered

Individual Performance-Based Bonuses

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.

Bonuses Are Not Commissions!

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.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting 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.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries yearly Australia
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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.

Private Sector
89,400 AUD
Public Sector+5%
93,800 AUD
Percentage increase and decrease are relative to the previous value

Chief Financial Officer Salary Trend and Forecast in Australia

How are Chief Financial Officer salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast yearly Australia Chief Financial Officer
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Average Salary 2016
169,000 AUD
Average Salary 2017+4%
175,000 AUD
Average Salary 2018+2%
179,000 AUD
Average Salary 2019+3%
185,000 AUD
Percentage increase and decrease are relative to the previous value

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.

Chief Financial Officer Average Hourly Wage in Australia


91 AUD per hour

The average hourly wage (pay per hour) in Australia is 91 AUD. This means that the average Chief Financial Officer in Australia earns approximately 91 AUD for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

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.

Chief Financial Officer VS Other Jobs

Salary Comparison Between Chief Financial Officer and Executive and Management yearly Australia
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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.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Coordinator88,300 AUD-53%
Administration Manager105,000 AUD-44%
Area Manager103,000 AUD-45%
Asset Protection Associate109,000 AUD-42%
Assistant Director109,000 AUD-42%
Assistant Manager117,000 AUD-38%
Assistant Operations Manager126,000 AUD-33%
Assistant Project Manager109,000 AUD-42%
Assistant Section Head93,200 AUD-51%
Assistant to CEO106,000 AUD-44%
Assistant Vice President119,000 AUD-37%
Associate Director106,000 AUD-44%
Bid Manager130,000 AUD-31%
Branch Manager115,000 AUD-39%
Business Development Manager129,000 AUD-32%
Business Operations Associate106,000 AUD-44%
Business Operations Lead111,000 AUD-41%
Campaign Manager128,000 AUD-32%
Chairman of The Board213,000 AUD+13%
Chairman Office Manager128,000 AUD-32%
Chief Corporate Officer164,000 AUD-13%
Chief Executive Officer204,000 AUD+8%
Chief Financial Officer189,000 AUD+0%
Chief of Staff97,900 AUD-48%
Chief Operating Officer146,000 AUD-23%
Chief Risk Officer140,000 AUD-26%
Client Services Manager141,000 AUD-25%
Commercial Project Manager114,000 AUD-40%
Commodity Broker85,200 AUD-55%
Corporate Affairs Executive124,000 AUD-34%
Corporate Compliance Director136,000 AUD-28%
Corporate Director145,000 AUD-23%
Corporate Officer98,800 AUD-48%
Corporate Partnerships Officer102,000 AUD-46%
Country Manager170,000 AUD-10%
Deputy Director151,000 AUD-20%
Director168,000 AUD-11%
Director of Accreditation144,000 AUD-24%
Director of Catering Services131,000 AUD-31%
Director of Client Services139,000 AUD-26%
Director of Facilities Management110,000 AUD-42%
Director of Operations137,000 AUD-27%
Director of Process Simplification111,000 AUD-41%
Director of Project Management143,000 AUD-24%
Director of Revenue Management122,000 AUD-35%
Director of Training and Development132,000 AUD-30%
Distribution Manager143,000 AUD-24%
Division Manager121,000 AUD-36%
Duty Manager116,000 AUD-39%
Engagement Manager145,000 AUD-23%
Executive Director209,000 AUD+11%
Executive Manager171,000 AUD-9%
Franchise Manager183,000 AUD-3%
General Manager167,000 AUD-12%
Global Master Data Manager144,000 AUD-24%
Head of Middle Office136,000 AUD-28%
Head of Projects137,000 AUD-27%
Head of Sustainability122,000 AUD-35%
Housing Manager117,000 AUD-38%
HSE Manager113,000 AUD-40%
Key Account Manager115,000 AUD-39%
Knowledge Manager130,000 AUD-31%
Location Manager125,000 AUD-34%
Logistics Manager114,000 AUD-40%
Management Consultant115,000 AUD-39%
Management Executive153,000 AUD-19%
Manager143,000 AUD-24%
Managing Director177,000 AUD-6%
MIS Executive145,000 AUD-23%
Ocean Services Manager149,000 AUD-21%
Operations Assistant99,900 AUD-47%
Operations Director149,000 AUD-21%
Operations Executive151,000 AUD-20%
Operations Manager161,000 AUD-15%
Operations Supervisor129,000 AUD-32%
Policy Administration Executive120,000 AUD-36%
Private Sector Executive127,000 AUD-33%
Product Development Manager140,000 AUD-26%
Product Executive119,000 AUD-37%
Production Executive138,000 AUD-27%
Production Manager147,000 AUD-22%
Production Supervisor119,000 AUD-37%
Program Manager141,000 AUD-25%
Programme Coordinator100,000 AUD-47%
Project Control Manager151,000 AUD-20%
Project Coordinator85,900 AUD-54%
Project Management Officer96,000 AUD-49%
Project Manager104,000 AUD-45%
Project Portfolio Manager110,000 AUD-42%
Quality Manager114,000 AUD-40%
R/D Director129,000 AUD-32%
Regional Director196,000 AUD+4%
Regional Manager142,000 AUD-25%
Relationship Manager143,000 AUD-24%
Retail District Manager100,000 AUD-47%
Revenue Manager115,000 AUD-39%
Risk and Capital Manager158,000 AUD-16%
Risk Officer107,000 AUD-43%
Safety Manager104,000 AUD-45%
Section Head112,000 AUD-41%
Service Manager108,000 AUD-43%
Shift Supervisor84,500 AUD-55%
Solutions Manager95,900 AUD-49%
Supervisor90,000 AUD-52%
Supply Chain Manager142,000 AUD-25%
Surveyor103,000 AUD-45%
Technical Manager129,000 AUD-32%
Territory Manager136,000 AUD-28%
Validation Manager115,000 AUD-39%
Vice President162,000 AUD-14%
Zone Manager141,000 AUD-25%

Salary Comparison By City

CityAverage Salary
Adelaide206,000 AUD
Brisbane211,000 AUD
Canberra-Queanbeyan192,000 AUD
Gold Coast-Tweed193,000 AUD
Gosford171,000 AUD
Melbourne204,000 AUD
Newcastle177,000 AUD
Perth199,000 AUD
Sunshine Coast186,000 AUD
Sydney217,000 AUD
Wollongong172,000 AUD
223750 - 4

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