CFO Salaries in India by Experience Level: What to Expect at Each Stage of Your Career?

A CFO or Chief Financial Officer plays a crucial role in ensuring the financial health of an organisation. A CFO is the mastermind behind a company's economic success. This prestigious position and the person holding it make strategic decisions that can shape the future of a business. Moreover, a CFO is the third-highest rank in a company's hierarchy, right after the CEO and COO.

Given the responsibilities and respect of this position, the CFO salary in India is also impressive. Keep reading to understand what being a CFO means and the top CFO salaries in India. 

What is a CFO?

A CFO is a C-suite executive who is majorly responsible for managing a business or company's financial actions and decisions. The job of a CFO is a lot more than just crunching numbers. A CFO is responsible for financial planning, tracking cash flow, and providing valuable insights to ensure the commercial success of a business.  A CFO leads a company's accounting and finance departments to forecast how a company's operations can affect its finances. 

A CFO works in close collaboration with other C-suite executives to manage capital structure, optimise financial operations, and oversee fiscal activities. By leveraging their expertise, CFOs can guide the company toward making informed decisions that impact its bottom line.

If you have a passion for finance and want to become a CFO, then this line of work can also earn you a pretty impressive salary given you have the skills and qualifications to hold this position. Chief Financial Officer pay scale India usually depends on your experience in the industry. Keep on reading to understand what factors affect CFO salaries in India.

Factors Affecting CFO Salaries in India

The Chief Financial Officer pay scale India depends on several factors. These are:

• Experience: Work experience is a key factor in determining the salary for CFOs.  If you enter the business arena as a fresh-faced CFO, you can expect to earn an average CFO salary of INR 3, 00,000 annually. However, top CFO salaries India for individuals with several years of expertise can go as high as INR 75, 40,300 per annum. 
• Company Size and Revenue: The average CFO salary in India often depends upon the company’s size and revenue as well. CFOs working in big companies with more revenue generally tend to have higher wages because of the complexity of their financial operations and the costs of managing larger finances. 
• Geographic Location (City):  The location or city of your work also impacts the Chief Financial Officer pay scale India.  CFOs based in major financial hubs or expensive cities like Mumbai or Bangalore demand higher salaries, given the high cost of living in these places. In Delhi, the average salary for a CFO is around INR 47, 80,000 annually.
• Education and Experience: Advanced degrees, like an MBA or ACA (Chartered Accountant), and certifications like the ISB CFO program can boost a CFO's credentials. A well-credited CFO course can also lead to higher salary expectations. 

Top CFO Salaries in India

The estimated CFO salary in India is ₹43,65,954 per year, with an average salary of 33, 65,954 per year. However, this number can increase or decrease based on the abovementioned factors. As mentioned earlier, experienced professionals can earn up to INR 75, 40,300 annually while freshers start with an average salary of INR 3, 00,000 annually. 

How To Become a CFO?

• Earn a Finance Related Degree: The first step towards becoming a chief financial officer is earning a bachelor's and Master's degree in a finance-related discipline. Go for a BCom or BBA course in finance or accounting. Following this with an MBA can fast-track the process of becoming a CFO. 
• Pursue Advanced Certification: Pursuing an advanced certification or CFO course, like the Chief Financial Officer course from the Indian School of Business in association with Imarticus Learning, can help you accelerate your career path and ensure you earn a higher salary. 
• Gain Relevant Experience: Aspiring to become a CFO straight after your graduation or post-graduation is unrealistic. This prestigious role requires experience, knowledge, and practice in relevant areas like finance, business operations, and customer service.
• Expand Your Network: While you gain work experience, consider building your network with C-suite executives and company leaders. This will not only help you get professional development opportunities but also allow you to improve your skill set. 

Conclusion

An organisation's financial success depends heavily on its growth and profitability. A CFO's growth and profitability. A CFO relies on the expertise and work of a CFO. A CFO oversees financial affairs and participates in crucial strategic decisions, playing an important role in driving the growth and profitability of the company. CFO salary in India can vary based on factors like experience, city, company size, and skills.

Imarticus Learning allows you to take your Financial leadership skills to the next level through the Chief Financial Officer Course from the Indian School of Business. This unified CFO programme will help you start thinking like a leader, shape a high-performing team, and effectively lead growth.