Key Points
Chief financial officers are switching jobs like never before as companies - from IPO-bound startups to large firms entering new businesses - seek seasoned CFOs to ensure financial stability, meet stricter accounting and regulatory norms, rationalise costs, raise funds and so on in a volatile business environment...
The massive CFO churn in the last several months has also led to their compensation soaring to new highs, getting closer to the CEO pay in some of the top conglomerates and new-age companies, top HR consultants and company executives told ET...
"For instance, someone like Jatin Dalal will have wide experience of global markets too and, hence, for a global company like Cognizant, he brings the value of being able to handle stakeholders across geographies," a top company official said.. Boards have been trying to hold onto existing talent by either giving them larger group roles and hefty compensation packages...
Average salaries of CFOs at large companies could be between 4-6 crore and going as high as 12-16 crore, depending on the size and complexities to be dealt with, experts said.. "Typically, CFO is the second-highest paid executive in the majority of the organisations after the CEO, but in recent times, in some large organisations and even new-age firms, we may see the gap narrowing, depending on the criticality of the role and matters that the person has to handle," said Anandorup Ghose, partner at Deloitte India...
"CFOs of many of the large Indian companies are individuals who are not only able to manage the domestic shareholders, regulatory matters, and corporate governance issues, but who also have an exposure in managing global investors, accounting norms and regulatory requirements," he said...
