Explore Chief Financial Officer Schools (2024)

Looking to start your journey as a Chief Financial Officer? Finding the right education is key. Here's a curated list of schools offering quality Chief Financial Officer programs:

  • We've identified top institutions known for excellent Chief Financial Officer education.
  • Options include both local schools and nationally recognized programs.
  • Each listing highlights relevant degree programs for aspiring Chief Financial Officer professionals.
  • You'll also find information on related career paths in the field.

Browse through these options to find a program that aligns with your career goals in the Chief Financial Officer industry.

Top Chief Financial Officer Schools (2024)

View our ranking methodology here
#1Maricopa County

University of Phoenix-Arizona

Phoenix, AZ

In-State Tuition:$9,552
Out-of-State Tuition:$9,552
Admission Rate:N/A
Graduation Rate:18%
Total Enrollment:88,891
#2Merrimack County

Southern New Hampshire University

Manchester, NH

In-State Tuition:$15,000
Out-of-State Tuition:$15,000
Admission Rate:96%
Graduation Rate:41%
Total Enrollment:164,091
#3Salt Lake County

Western Governors University

Salt Lake City, UT

In-State Tuition:$7,404
Out-of-State Tuition:$7,404
Admission Rate:N/A
Graduation Rate:49%
Total Enrollment:156,935
#4El Paso County

Colorado Technical University-Colorado Springs

Colorado Springs, CO

In-State Tuition:$12,036
Out-of-State Tuition:$12,036
Admission Rate:N/A
Graduation Rate:20%
Total Enrollment:24,808
#5Maricopa County

Grand Canyon University

Phoenix, AZ

In-State Tuition:$16,407
Out-of-State Tuition:$16,407
Admission Rate:78%
Graduation Rate:45%
Total Enrollment:101,816
#6Lynchburg City

Liberty University

Lynchburg, VA

In-State Tuition:$15,467
Out-of-State Tuition:$15,467
Admission Rate:99%
Graduation Rate:66%
Total Enrollment:96,709

Chief Financial Officer Required Education (2024)

To become a Chief Financial Officer (CFO), you will need to pursue a combination of minimum and advanced education options that cater to the complexities of the role.

  • Minimum Education Requirements:

    • A bachelor's degree in a relevant field is essential. Common majors include:
      • Accounting
      • Finance
      • Business Administration
      • Economics
    • This foundation will equip you with the fundamental understanding of financial principles, accounting practices, and business strategies necessary for a CFO role.

  • Advanced Education Options:

    • Many CFOs choose to advance their education further by obtaining a master’s degree, which is highly regarded in the field. Notable options include:
      • Master of Business Administration (MBA) with a focus on Finance or Accounting
      • Master of Science in Finance
      • Master of Accounting
    • Graduate education helps you to deepen your expertise in financial management, strategic planning, and leadership skills.

  • Other Considerations:

    • While not formally required, many individuals in CFO positions benefit from pursuing additional educational opportunities such as specialized financial training or executive programs. These can enhance your leadership abilities and strategic vision within the financial sector.

In summary, achieving a position as a CFO typically starts with a relevant bachelor's degree and is often supplemented with a higher degree, such as an MBA, to build the necessary skills for the role.

Chief Financial Officer Professional Certifications & Licenses (2024)

To excel as a Chief Financial Officer (CFO), obtaining certain professional certifications and licenses can significantly enhance your qualifications and expertise in the field. Below are the most recognized and often pursued certifications and licenses:

  • Certified Public Accountant (CPA)
    This certification is highly valued and often required for CFO roles, as it signifies a strong understanding of accounting principles and regulations.

  • Chartered Financial Analyst (CFA)
    The CFA designation is ideal if your role involves investment management. It demonstrates proficiency in investment analysis and portfolio management.

  • Certified Management Accountant (CMA)
    This certification focuses on financial management and strategy, making it relevant for CFOs who need to analyze and manage financial operations.

  • Chartered Global Management Accountant (CGMA)
    This designation is suited for CFOs working in a global environment, emphasizing management accounting and business strategy.

  • Certified Internal Auditor (CIA)
    If your CFO role includes a focus on internal controls and audits, obtaining a CIA can be beneficial to ensure compliance and operational efficiency.

  • Financial Risk Manager (FRM)
    This certification is advantageous if your responsibilities include managing financial risks, showing expertise in risk assessment and management strategies.

  • Certified Financial Planner (CFP)
    While less common for CFOs, this certification can be beneficial if your role involves personal financial planning aspects or advising executives on benefits and financial strategies.

While these certifications and licenses are not universally mandatory, possessing one or more can set you apart in the competitive landscape of financial leadership. Evaluate your career goals and the specific requirements of your desired position to determine which certifications will be most advantageous for you.

Job Duties for Chief Financial Officers

  • Delegate authority for the receipt, disbursement, banking, protection, and custody of funds, securities, and financial instruments.

  • Develop and maintain relationships with banking, insurance, and external accounting personnel to facilitate financial activities.

  • Evaluate needs for procurement of funds and investment of surpluses and make appropriate recommendations.

Technologies and Skills Used by Chief Financial Officers

Accounting software

  • Intuit QuickBooks
  • Sage 50 Accounting

Enterprise resource planning ERP software

  • Microsoft Dynamics
  • SAP software

Presentation software

  • Microsoft PowerPoint

Basic Skills

  • Reading work related information
  • Thinking about the pros and cons of different ways to solve a problem

People and Technology Systems

  • Measuring how well a system is working and how to improve it
  • Thinking about the pros and cons of different options and picking the best one

Problem Solving

  • Noticing a problem and figuring out the best way to solve it

Chief Financial Officer Internships, Apprenticeships & Practical Training

As you navigate your path toward becoming a Chief Financial Officer (CFO), gaining practical experience through internships and apprenticeships can significantly enhance your skills and understanding of the financial landscape. Here are some valuable opportunities that can shape your career trajectory:

  • Corporate Finance Internships
    Many large corporations offer internship programs in their finance departments where you can work alongside financial analysts and managers. In these roles, you often engage in tasks such as financial modeling, budgeting, and preparing financial reports. Companies like Deloitte and PwC frequently seek interns who can provide insights and support in financial decision-making.

  • Investment Banking Internship Programs
    Interning at an investment bank provides a unique perspective on financial markets and corporate finance. These programs typically involve rigorous financial analysis, pitch book preparation, and exposure to mergers and acquisitions. In firms such as Goldman Sachs or JPMorgan Chase, you will gain insights into capital raising and advisory services that are critical for CFO roles.

  • Public Accounting Internships
    Working in a public accounting firm, such as EY or KPMG, allows you to develop a solid understanding of compliance, auditing, and tax regulations. As an intern, you will assist in audits and financial statement preparation, which are essential experiences as they enhance your financial acumen and familiarize you with the regulatory environment that CFOs must navigate.

  • Financial Analyst Apprenticeships
    An apprenticeship that focuses on financial analysis trains you in data analysis, forecasting, and strategic financial planning. These programs often pair you with seasoned finance professionals who mentor you while you work on real-world financial challenges, preparing you for future responsibilities as a CFO.

  • Government Finance Internships
    Engaging in internship programs offered by governmental finance departments or the Treasury can provide insights into public finance management. These positions often involve budget analysis, financial reporting, and policy evaluation, helping you understand the financial operations within public sectors, which is valuable experience for a CFO considering roles in nonprofit sectors or government entities.

  • Startup Finance Roles
    Interning at a startup can expose you to the dynamic aspects of business finance, including fundraising, cash flow management, and strategic planning. These experiences often require you to wear multiple hats and provide a broad understanding of financial operations in a fast-paced environment, which can be beneficial as you advance in your career.

  • Financial Technology (FinTech) Internships
    With the rise of technology in finance, securing an internship with a FinTech company can be particularly advantageous. These roles often involve working on innovative financial solutions and understanding how technology can disrupt traditional financial practices. Exposure to data analytics and emerging financial tools will enhance your skill set as a modern CFO.

Pursuing these internships and apprenticeship opportunities allows you to build a network, develop critical skills, and gain firsthand experience in environments similar to where you may work as a CFO in the future. Engage actively with these opportunities to maximize your learning and prepare effectively for the challenges ahead.

Chief Financial Officer Continuing Education & Professional Development (2024)

To excel as a Chief Financial Officer, you should focus on ongoing education and professional development opportunities that enhance your skills and keep you informed about industry trends. Consider the following avenues:

  • Advanced Degrees:

    • Pursuing an MBA with a focus on finance or a Master's in Finance can deepen your understanding of financial strategies and management.
    • Consider obtaining a Doctorate in Business Administration (DBA) for a research-oriented approach to financial leadership.

  • Professional Certifications:

    • Earning certifications such as Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), or Certified Management Accountant (CMA) can enhance your credibility and expertise.
    • The Chartered Global Management Accountant (CGMA) certification focuses on strategic management and helps you align financial principles with business operations.

  • Webinars and Online Courses:

    • Engage in online platforms offering courses on financial regulations, risk management, or financial technology (FinTech) to stay current.
    • Webinars from industry experts can provide insights on best practices and new developments in financial management.

  • Industry Conferences and Networking Events:

    • Attend conferences like the CFO Leadership Conference or the Financial Executives International (FEI) annual conference to network with peers and learn from thought leaders.
    • Participating in workshops and panels allows for direct interaction with experts and insights from real-world scenarios.

  • Executive Programs:

    • Many universities offer executive programs tailored for senior financial leaders that focus on strategic leadership, financial innovation, and organizational management.
    • These programs often combine theoretical knowledge with practical case studies and peer collaboration.

  • Professional Associations:

    • Join professional organizations such as the Association for Financial Professionals (AFP) or the CFO Network to access resources, training, and mentorship opportunities.
    • These associations often provide webinars, newsletters, and specialized forums for CFOs to share insights and trends.

  • Mentorship and Coaching:

    • Seek a mentor who has a successful track record in finance leadership to provide guidance and share experiences.
    • Executive coaching can also be beneficial in honing leadership skills and addressing personal development areas.

  • Reading and Research:

    • Regularly read financial publications, journals, and books focused on CFO responsibilities, market trends, and strategic finance.
    • Staying informed about economic indicators and financial regulations will enhance your decision-making capabilities.

By actively engaging in these continuing education and professional development opportunities, you can refine your skills, adapt to changes in the financial landscape, and position yourself as a leader in your organization.

What To Look For When Deciding On Campus vs Online Degree Programs for Chief Financial Officers (2024)

When considering your education pathway for a career as a Chief Financial Officer (CFO), you have the option to choose between online and campus-based programs. Each method presents distinct advantages and challenges that can impact your educational experience and career preparation.

Online Education Programs

  • Flexibility: Online programs offer a flexible schedule, allowing you to learn at your own pace and balance other commitments such as work or family.
  • Accessibility: You can access courses from anywhere, eliminating geographical constraints and broadening your options for institutions.
  • Cost-Effectiveness: Generally, online programs can be less expensive than their campus counterparts, as they often have lower tuition rates and eliminate the need for commuting and housing costs.
  • Diverse Learning Resources: Many online programs utilize a variety of multimedia resources, including webinars, podcasts, and interactive simulations, enriching the learning experience.
  • Limited Face-to-Face Interaction: While some programs include opportunities for virtual interaction, online education may lack in-person networking and relationship-building opportunities with peers and instructors.
  • Self-Motivation Required: Success in an online program often depends on your ability to stay disciplined and motivated, as the format requires more independent study and time management skills.

Campus-Based Education Programs

  • Structured Environment: Campus programs typically follow a structured schedule and provide a traditional classroom atmosphere, which can be beneficial for those who thrive in organized environments.
  • Networking Opportunities: Attending classes on campus allows for direct interaction with professors, industry professionals, and peers, fostering relationships that can be valuable in your career.
  • Hands-On Learning: Many campus programs offer access to facilities and resources, such as laboratories or business simulations, providing practical experiences that enhance learning.
  • Extracurricular Activities: Being on campus often gives you access to clubs, organizations, and events that can further your education and career through leadership opportunities and professional development.
  • Geographical Limitations: You may need to relocate or commute, which can be a significant factor regarding time, costs, and flexibility.
  • Potentially Higher Costs: Campus programs often include additional expenses, such as commuting, housing, and supplies, which can increase the overall cost of education.

In choosing the right program for your aspirations as a CFO, consider your learning style, career goals, and the specific attributes of each educational format that align with your needs.

Chief Financial Officer Typical Career Path (2024)

In your journey to becoming a Chief Financial Officer (CFO), you will typically progress through several positions that build your skills in finance, management, and strategy. Here’s how your career path may unfold:

Entry-Level Positions

  • Financial Analyst: This role involves analyzing financial data, preparing reports, and assisting in budget preparation. You will develop a strong foundation in financial principles and analytical skills.
  • Accountant: As an accountant, you will manage financial records, handle tax returns, and ensure compliance with regulations. This experience is vital for understanding the intricacies of financial reporting.
  • Junior Auditor: In this position, you will evaluate financial statements and internal controls for compliance. You will gain insights into risk management and the auditing process.

Mid-Level Roles

  • Senior Financial Analyst: Moving up, you will take on more complex analyses and may supervise junior analysts. Your focus will shift toward strategic planning and investment analysis.
  • Finance Manager: In this role, you will oversee financial operations, manage budgets, and lead teams. This position requires strong leadership skills and strategic insight.
  • Controller: As a controller, you will manage accounting operations, financial reporting, and compliance. You will play a key role in financial strategy and ensure accuracy in financial statements.

Advanced Roles

  • Director of Finance: You will oversee financial planning and analysis, budgeting, and forecasting. This role requires extensive experience in financial strategy and decision-making.
  • Vice President of Finance: Reporting typically to the CFO or CEO, you will take on significant responsibilities in financial strategy, mergers, and acquisitions, and stakeholder management.
  • Chief Financial Officer (CFO): As a CFO, you will be responsible for the financial health of the organization. You will oversee financial reporting, invest corporate funds wisely, lead financial planning, and provide strategic leadership to the executive team.

Each step on this path builds your expertise and leadership capabilities, preparing you for the multifaceted role of a CFO.

Related Fields and Alternative Career Paths to Chief Financial Officers (2024)

If you are pursuing a career as a Chief Financial Officer (CFO) or considering this path, several related fields can benefit from similar skill sets and educational backgrounds. Below are various alternative career paths where the expertise gained as a CFO can be effectively applied:

  • Corporate Controller

    • As a Corporate Controller, you will oversee the financial reporting process, manage budgets, and ensure compliance with accounting standards. This role typically requires strong accounting knowledge, making your background in finance highly relevant.

  • Financial Planning and Analysis Manager

    • In this position, you'll focus on budgeting, forecasting, and performance analysis. Your quantitative skills and experience in strategic financial decision-making as a CFO can seamlessly translate to this role.

  • Treasurer

    • A Treasurer manages an organization's financial assets, debt, and investment strategies. The experience in overseeing company finances as a CFO provides a solid foundation for managing treasury management and capital structure.

  • Strategy Consultant

    • Strategy consultants analyze business strategies and financial performance to recommend improvements. Your analytical skills and understanding of large-scale financial operations can be beneficial in this advisory position.

  • Risk Manager

    • This role involves identifying and mitigating financial risks that could impact the organization. Your expertise in financial assessment as a CFO equips you with the skills necessary to navigate complex financial landscapes.

  • Director of Finance

    • As a Director of Finance, you will oversee financial operations and lead your company's financial planning efforts. The transition from CFO to this position is natural, given your extensive background in finance and leadership.

  • Investment Manager

    • This position focuses on managing clients' investment portfolios. Skills gained in financial analysis and market understanding will be advantageous in developing investment strategies.

  • Accounting Manager

    • An Accounting Manager manages accounting staff and ensures accurate financial reporting. If you have a strong accounting foundation, this role can serve as a stepping stone toward higher financial leadership positions.

  • Business Development Officer

    • This role involves assessing new business opportunities and financial viability. Your skills in financial forecasting and market analysis can help identify opportunities for growth and expansion.

  • Nonprofit Financial Director

    • If you are inclined toward the nonprofit sector, this role allows you to use your financial expertise to ensure the efficient allocation of resources within organizations focused on social causes.

By leveraging your CFO education and experience, you can successfully pivot into these related fields, allowing your financial acumen to shine and your career to flourish in diverse environments.

Chief Financial Officer Frequently Asked Questions (FAQs) (2024)

  • What educational background do I need to become a Chief Financial Officer?
    To pursue a career as a Chief Financial Officer, you typically need at least a bachelor’s degree in finance, accounting, business administration, or a related field. Many CFOs also hold a master’s degree, such as a Master of Business Administration (MBA), which can enhance your qualifications.

  • Is a CPA designation necessary for CFOs?
    While not strictly required, obtaining a Certified Public Accountant (CPA) designation is highly beneficial. It demonstrates expertise in accounting practices and financial regulations, which can strengthen your position as a CFO.

  • How important is experience in accounting or finance for a CFO role?
    Experience in accounting or finance is critical for aspiring CFOs. Most successful candidates have several years of progressive experience in financial management, including roles such as financial analyst, controller, or finance director.

  • Are there other certifications that can enhance my qualifications for a CFO position?
    Yes, additional certifications can enhance your qualifications. Consider pursuing designations such as Chartered Global Management Accountant (CGMA), Certified Management Accountant (CMA), or Chartered Financial Analyst (CFA). These certifications can demonstrate advanced knowledge and skills in specific areas of finance.

  • What skills should I focus on developing during my education?
    Focus on developing skills such as financial analysis, strategic planning, risk management, and leadership. Strong communication and interpersonal skills are also essential, as CFOs frequently collaborate with other executives and stakeholders.

  • Is continuous education important for CFOs?
    Yes, continuous education is vital in maintaining relevant skills and knowledge. The financial landscape is constantly evolving, so staying updated through workshops, seminars, and further certifications can be beneficial.

  • Can I start working in finance without a degree?
    While some entry-level positions in finance may not require a degree, advancing to a CFO role typically necessitates formal education. A degree lays a foundational understanding of finance principles and practices that are critical at higher levels.

  • Are online degrees considered valid for becoming a CFO?
    Yes, online degrees from accredited institutions are generally considered valid. Ensure that the program is recognized and has a strong curriculum in finance or business administration to strengthen your credentials.

  • What role does networking play in becoming a CFO?
    Networking can play a significant role in your career advancement. Building relationships within the finance community can lead to mentorship opportunities, access to job openings, and valuable insights into the industry.

  • How can internships or entry-level positions help my career path?
    Internships and entry-level positions provide practical experience and exposure to financial operations. They help you develop relevant skills, understand corporate finance dynamics, and make valuable industry connections that can support your career growth.

Additional Resources for Chief Financial Officers (2024)

  • Educational Institutions

    • University of Pennsylvania - Wharton School
      Wharton MBA Program
      The Wharton School offers a highly regarded MBA program with a focus on finance and management, providing rigorous academic training for future CFOs.

    • Columbia University - Columbia Business School
      Columbia MBA Program
      Offers specialized finance courses and executive education programs that cater to aspiring financial leaders.

    • Harvard University - Harvard Business School
      HBS MBA Program
      Known for its case study method and leadership development programs, aiding in the holistic education of future CFOs.

  • Professional Organizations

    • Financial Executives International (FEI)
      FEI Home Page
      A premier organization for financial executives offering educational resources, networking opportunities, and leadership development.

    • Institute of Management Accountants (IMA)
      IMA Home Page
      Provides certification (CMA) and education that are vital for CFOs, including financial planning and analysis skills.

    • Association for Financial Professionals (AFP)
      AFP Home Page
      Offers training programs, certifications, and resources for treasury and finance professionals, which are crucial for CFOs.

  • Certifications

    • Certified Public Accountant (CPA)
      AICPA CPA Program
      An essential certification for CFOs, establishing expertise in accounting practices and standards.

    • Chartered Financial Analyst (CFA)
      CFA Institute
      Focuses on investment analysis and portfolio management; an excellent fit for CFOs focused on financial strategy.

    • Certified Management Accountant (CMA)
      IMA CMA Certification
      Recognized global credential that emphasizes financial management and strategic decision-making.

  • Online Learning Platforms

    • Coursera
      Coursera Finance Courses
      Offers various finance courses from top universities, useful for ongoing education in financial strategies.

    • edX
      edX Business and Finance
      Provides access to finance and accounting courses from esteemed institutions, allowing for skill enhancement at your convenience.

  • Networking Platforms

    • LinkedIn
      LinkedIn Professional Groups
      Join industry-specific groups and connect with other finance professionals to exchange knowledge and experience.

    • Meetup
      Meetup Finance Groups
      Find and attend local finance networking events, workshops, and conferences to expand your professional network.

Utilize these resources and tools to enhance your educational journey and professional development as a Chief Financial Officer.