More than half of privately held companies offered raises to their chief financial officers, and those CFOs make 45 percent less than CFOs of public companies, according to a new CFO compensation survey report by MyCFOnetwork.
"Traditionally, executive compensation surveys are slanted toward publicly traded Fortune 1000 executives, making it difficult, if not impossible, for executives of smaller companies to determine their fair market value," says Tommy Souther, U.S. Ag CFO. "This report shows data from companies in the small- to middle-market revenue spectrum."
"Having a document to point to when you are negotiating an executive compensation package is vital," explains Craig Williams, co-founder of MyCFOnetwork. "Our report highlights critical areas that must be addressed in private company compensation packages."
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The MyCFOnetwork compensation report examines salaries, bonuses and other compensation for more than 500 financial executives in private, public, nonprofit and government organizations, and no participating company makes more than $5 billion in annual revenue, which MyCFOnetwork says, more accurately represents a typical company's financial situation.
"Most compensation surveys only offer the data for really large businesses," Souther says. "This report offers the private company information CFOs have been craving for years."
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