Chief Financial Officer Salary in Alabama
Annual Median: $134,080
Hourly Median: $64.46
Data sourced from Career One Stop, provided by the BLS Occupational Employment and Wage Statistics wage estimates.
Annual and Hourly Chief Financial Officer undefined, Alabama Salary Table:
| Percentile | Annual Salary | Hourly Wage |
|---|---|---|
| 10th | $81,970 | $39.41 |
| 25th | $102,990 | $49.51 |
| Median | $134,080 | $64.46 |
| 75th | $171,110 | $82.26 |
| 90th | $226,190 | $108.75 |
Best Schools to become a Chief Financial Officer in Alabama 2024
Columbia Southern University
In-State Tuition:$5,880
Out-of-State Tuition:$5,880
Admission Rate:N/A
Graduation Rate:33%
Total Enrollment:15,948
The University of Alabama
In-State Tuition:$11,100
Out-of-State Tuition:$31,460
Admission Rate:80%
Graduation Rate:73%
Total Enrollment:38,644
Auburn University
In-State Tuition:$10,392
Out-of-State Tuition:$31,176
Admission Rate:44%
Graduation Rate:81%
Total Enrollment:31,764
University of Alabama at Birmingham
In-State Tuition:$8,832
Out-of-State Tuition:$21,216
Admission Rate:87%
Graduation Rate:64%
Total Enrollment:21,639
Troy University
In-State Tuition:$9,312
Out-of-State Tuition:$18,624
Admission Rate:95%
Graduation Rate:46%
Total Enrollment:14,156
University of North Alabama
In-State Tuition:$10,200
Out-of-State Tuition:$20,400
Admission Rate:96%
Graduation Rate:52%
Total Enrollment:9,830
Browse Chief Financial Officer Salaries by the Top Cities in Alabama
Chief Financial Officer Salary in Alabama FAQs
What factors influence the salary of a Chief Financial Officer in Alabama?
Several factors can affect the salary of a Chief Financial Officer in Alabama, including:
- Company Size: Larger companies often pay higher salaries due to increased responsibilities and the complexity of managing financial operations.
- Industry Type: Different industries, such as technology, healthcare, and manufacturing, may offer varying compensation packages based on industry standards and financial performance.
- Experience Level: More experienced CFOs typically command higher salaries. Additional factors include years of experience in finance and previous roles in leadership.
- Location within Alabama: Salaries can differ depending on the specific location within Alabama. Urban areas may offer more competitive salaries compared to rural regions.
- Educational Background: Advanced degrees or certifications (such as an MBA or CPA) can enhance your qualifications and lead to higher compensation.
Are bonus and incentive structures common for CFOs in Alabama?
Yes, compensation for CFOs in Alabama frequently includes bonuses and incentive structures. These may be tied to:
- Performance Metrics: Bonuses can be linked to the company’s financial performance, meeting specific financial targets, or other key performance indicators (KPIs).
- Long-Term Incentives: Many organizations offer stock options or other long-term incentives that align the CFO’s interests with the company’s growth and shareholder value.
- Retention Bonuses: Some companies provide retention bonuses to incentivize high-performing CFOs to stay with the organization for an extended period.
How important are networking and industry connections for CFOs in Alabama?
Networking and industry connections are vital for CFOs in Alabama. Building relationships can offer several advantages, including:
- Access to Opportunities: Networking often leads to job openings that may not be publicly advertised.
- Industry Insights: Connecting with other professionals can provide valuable insights into market trends, best practices, and emerging technologies.
- Referrals: Strong professional relationships can result in referrals for new positions or consulting opportunities.
What skills are most valued in CFO roles in Alabama?
CFOs in Alabama should possess a mix of technical and soft skills that are highly valued, such as:
- Financial Acumen: In-depth knowledge of financial regulations, corporate finance, and accounting principles.
- Strategic Thinking: The ability to align financial goals with the overall business strategy and foresee potential challenges.
- Leadership: Strong leadership skills to manage the finance team and collaborate with other executives.
- Communication: The capacity to effectively communicate financial information to non-financial stakeholders and the board of directors.
- Analytical Skills: Proficiency in analyzing financial data to drive informed decision-making.
How does the role of a CFO differ in smaller companies versus larger corporations in Alabama?
The responsibilities of a CFO can vary significantly based on company size:
- Smaller Companies: CFOs may wear multiple hats, managing a wide range of financial functions and taking a hands-on approach in day-to-day operations. They often have a closer relationship with the company's overall operations.
- Larger Corporations: CFOs typically focus on high-level strategic planning and oversight. They may manage a larger team and delegate specific financial responsibilities to other finance professionals.
What is the typical career progression for a CFO in Alabama?
The career progression for a CFO usually follows a path that includes:
- Entry-Level Positions: Starting in roles such as financial analyst or accountant, where foundational financial knowledge is developed.
- Mid-Level Management: Moving to positions like finance manager or controller, which involves greater responsibility and oversight in financial reporting.
- Senior Management: Transitioning to roles such as Vice President of Finance or Director of Finance, which requires strategic decision-making experience.
- CFO Role: Attaining the CFO position, which represents the culmination of years of experience and demonstrated expertise in financial leadership.