The disparity between CEO and chief financial officers' salaries continues to widen, as middle-market CFOs earn an average of $927,743, approximately 40 percent of CEO pay (at $2,338,874), an analysis of 600 public companies by BDO USA LLP revealed.
Despite the difference, both groups saw significant pay increases. CFO pay is now up 19 percent while CEO pay is at a 25 percent growth.
"CEOs have always earned significantly more than other executives, but we have seen an even greater divide in recent years due to an increase in CEO pay leverage tied to the performance of their company's equity," says Randy Ramirez, a senior director in the compensation and benefits practice at BDO. "We expect CFO pay to start catching up within the next few years as the emphasis on pay-for-performance trickles down to other top executives."
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