2023’s Highest Paid CFO (& 24 Other High-Flyers)
CEOs seem to get all the attention when it comes to executive pay. But other C-suite executives are also raking in the big bucks — and there are even some CFOs making well into the 7-figures.
On average, chief financial executives in the United States earn around $430k annually. But there’s a huge range of CFO pay levels, from less than 6 figures of total comp all the way up to 7-figure bonuses.
The CFO Club is all about helping CFOs and other finance leaders progress in their careers. For a bit of inspiration, I thought it’d be fun to compile a list of the highest-paid chief executive officers in the world. Let’s dig in.
Before We Start: The Stats
Whether you’re looking to become a CFO or advance your career by switching companies, there are some useful tidbits to keep in mind when it comes to CFO compensation packages.
Industry
Industry, of course, affects CFO salary levels. As you’ll see on my list below, some of the highest-salary CFO roles are in the tech, pharmaceutical, and financial services industries. Many companies in highly competitive industries use more aggressive compensation strategies to attract top talent.
Geography
The majority of the CFOs on this highest-paid Chief Financial Officers list work for US-based firms, and most also work and live in the United States. This is due to a few reasons:
- Many of the world’s largest and most profitable firms are located in the US
- The US tends to have higher executive pay levels than other world business centers
- Salary data from the US is more widely available to the public (so it’s possible there are some highly paid foreign CFOs that didn’t make the list due to non-public salary info)
Dual Roles/Titles
In many cases, CFOs are given additional titles and responsibilities at firms. This can affect pay levels, as well as workload and responsibilities. For instance, many CFOs also serve in executive vice president or even president roles, and/or serve on the company’s board of directors.
Doing Well: 11th - 25th Highest Paid CFOs
These CFOs are among the highest-paid finance leaders in the world, earning jaw-dropping sums and serving in key roles in some of the most important firms of the modern world.
Note: This data was gathered from 2022 stats, as 2022 was the most recent full fiscal year available at the time of publishing.
25. Andrew D. Dickinson, Gilead Sciences: $8.4 million
Known for: Drawing on multiple disciplines and experiences in his career. Dickinson holds degrees in cellular biology and law and has worked in the healthcare and pharmaceutical industry as both a general counsel and a financial executive.
Total Annual Compensation: $8,402,698
- Base salary: $1,018,419
- Stock/option awards: $5,467,586
- Bonus + non-equity incentive compensation: $1,885,572
24. Joseph J. Wolk, Johnson & Johnson: $8.8 million
Known for: Coming from a storied Investor Relations background. Wolk previously served as Johnson & Johnson’s President of Investor Relations, during a period in which J&J was recognized for superior investor relations by Institutional Investor.
Total Annual Compensation: $8,823,082
- Base salary: $1,008,462
- Stock/option awards: $6,560,849
- Bonus + non-equity incentive compensation: $1,177,800
23. Colette M. Kress, Nvidia: $9.8 million
Known for: Specializing in financial roles at technology companies. Kress formerly held financial management positions at Microsoft, Cisco, and Texas Instruments.
Total Annual Compensation: $9,775,927
- Base salary: $896,595
- Stock/option awards: $8,269,020
- Bonus + non-equity incentive compensation: $600,000
22. Sharon Yeshaya, Morgan Stanley: $10 million
Known for: Being an intern-to-executive success story. Yeshaya joined Morgan Stanley as a summer intern in 2000 and worked her way up to CFO and EVP.
Total Annual Compensation: $10,014,902
- Base salary: $1,000,000
- Stock/option awards: $5,051,302
- Bonus + non-equity incentive compensation: $3,937,500
21. James J. Kavanaugh, IBM: $10.1 million
Known for: Being an IBM veteran of over 25 years. Kavanaugh joined IBM in 1996 and worked his way up through the ranks.
Total Annual Compensation: $10,113,798
- Base salary: $1,040,000
- Stock/option awards: $7,174,775
- Bonus + non-equity incentive compensation: $1,665,760
20. Pascal Desroches, AT&T: $11.8 million
Known for: Overseeing massive capital outlays into fiber and 5G development, while maintaining margins by reducing costs elsewhere.
Total Annual Compensation: $11,752,507
- Base salary: $1,250,000
- Stock/option awards: $2,612,500
- Bonus + non-equity incentive compensation: $7,499,993
- Other: $390,014
19. David Goulden, Booking Holdings: $12.1 million
Known for: Overseeing Booking.com’s transition into directly managing payment flows for bookings (Booking had previously used a pay-at-the-property model), and helping expand the flagship brand beyond hotels into short-term rentals, flights, and more.
Total Annual Compensation: $12,124,653
- Base salary: $625,000
- Stock/option awards: $8,844,265
- Bonus + non-equity incentive compensation: $2,646,000
18. Alastair M. Borthwick, Bank of America: $12.6 million
Known for: Advocating for transatlantic trade as part of his role as vice chair of BritishAmerican Business.
Total Annual Compensation: $12,601,937
- Base salary: $1,000,000
- Stock/option awards: $7,757,129
- Bonus + non-equity incentive compensation: $3,800,000
17. Michael P. Santomassimo, Wells Fargo: $12.8 million
Known for: Holding CFO roles at several prestigious banks. Santomassimo has served in CFO roles at BNY Mellon, US Private Bank, JP Morgan, and now Wells Fargo.
Total Annual Compensation: $12,808,167
- Base salary: $1,750,000
- Stock/option awards: $7,875,050
- Bonus + non-equity incentive compensation: $3,149,625
16. Gunnar Wiedenfels, Warner Bros Discovery: $13.5 million
Known for: Leading the merger to form Warner Bros Discovery, while overseeing additional acquisitions and expansions.
Total Annual Compensation: $13,504,614
- Base salary: $1,952,996
- Stock/option awards: $8,061,276
- Bonus + non-equity incentive compensation: $3,472,000
15. Amy Weaver, Salesforce: $14 million
Known for: Starting as General Counsel for Salesforce in 2013, then working her way up to a dual role as both CFO and President in 2021. Weaver is noted for “leading with kindness”, which isn’t something you’d typically expect to associate with lawyers or financial officers.
Total Annual Compensation: $14,043,514
- Base salary: $1,000,000
- Stock/option awards: $12,000,260
- Bonus + non-equity incentive compensation: $1,000,000
14. Vasant M. Prabhu, Visa: $14.5 million
Known for: Holding CFO roles at many prestigious companies. Prabhu has held senior finance and CFO roles at PepsiCo, Safeway, Starwood Hotels, NBC Universal, and now Visa.
Total Annual Compensation: $14,536,210
- Base salary: $1,104,239
- Stock/option awards: $4,624,239
- Bonus + non-equity incentive compensation: $3,520,000
13. R. Scott Herren, Cisco: $14.6 million
Known for: Leading efforts to shift Cisco to more of a recurring revenue model.
Total Annual Compensation: $14,608,279
- Base salary: $838,461
- Stock/option awards: $12,457,042
- Bonus + non-equity incentive compensation: $1,091,792
12. Mark Mason, Citigroup: $15 million
Known for: Being a 20+ year Citi veteran who has held a variety of senior positions at the bank.
Total Annual Compensation: $15,044,373
- Base salary: $1,000,000
- Stock/option awards: $7,201,834
- Bonus + non-equity incentive compensation: $6,824,239
11. Susan Li, Meta: $15.2 million
Known for: Advocating for women in finance (and specifically CFO) roles.
Total Annual Compensation: $15,209,487
- Base salary: $722,338
- Stock/option awards: $13,882,838
- Bonus + non-equity incentive compensation: $575,613
Doing Great: 10th - 2nd Highest Paid CFOs
These CFOs are knocking it out of the park, earning at least $15 million (that’s around $57,692 per working day, if you’re curious).
10. John Rex, UnitedHealth: $15.8 Million
Known for: A long career as a financial leader, primarily in healthcare industry roles.
Total Annual Compensation: $15,832,820
- Base salary: $1,200,000
- Stock/option awards: $12,400,721
- Bonus + non-equity incentive compensation: $2,200,000
9. Brian T. Olsavsky, Amazon: $18.2 million
Known for: Leading efforts to support diversification of Amazon’s sourcing to support more diverse-owned businesses.
Total Annual Compensation: $18,181,043
- Base salary: $313,750
- Stock/option awards: $17,861,193
8. Kathryn A. Mikells, ExxonMobil: $19.3 million
Known for: Making headlines as a rare outside hire - as well as the first female - to make it into the ExxonMobil senior management team, which is internally dubbed the “God squad”.
Total Annual Compensation: $19,312,002
- Base salary: $1,100,000
- Equity awards: $13,744,160
- Bonus + non-equity incentive compensation: $4,376,000
7. Christine M. McCarthy, Disney: $20.2 million
Known for: Being a strategic CFO with significant industry clout. McCarthy has recently announced a medical leave of absence from Disney, but she will remain on as a strategic advisor to the company.
Total Annual Compensation: $20,235,669
- Base salary: $1,980,000
- Equity awards: $12,310,836
- Bonus + non-equity incentive compensation: $5,820,000
6. Denis Coleman, Goldman Sachs: $23.6 million
Known for: Being a risk management informed CFO with significant responsibility at GS. Coleman serves not only as the CFO, but also as a committee member on the Management Committee, Firmwide Risk Council, Firmwide Enterprise Risk Committee, and Firmwide Asset Liability Committee.
Total Annual Compensation: $23,568,553
- Base salary: $1,850,000
- Stock/option awards: $14,500,517
- Bonus + non-equity incentive compensation: $6,060,000
- Other: $1,158,036
5. Ruth Porat, Alphabet: $24.4 million
Known for: Taking risks and leading the firm through many major acquisitions. In late 2023, she was promoted to President and Chief Investment Officer, where she’ll now oversee Google’s “Other Bets” ventures, including Waymo and Google Fiber.
Total Annual Compensation: $24,453,769
- Base salary: $1,000,000
- Stock/option awards: $22,663,723
- Bonus + non-equity incentive compensation: $1,775,000
4. Amy Hood, Microsoft: $26.3 million
Known for: Leading the acquisitions of LinkedIn, Nuance Communications, and Github.
Total Annual Compensation: $26,319,581
- Base salary: $1,000,000
- Stock/option awards: $21,681,666
- Bonus + non-equity incentive compensation: $3,575,000
3. Luca Maestri, Apple: $27.1 million
Known for: Leading global expansions and cross-border finance initiatives, both at Apple and in previous roles for GM.
Total Annual Compensation: $27,151,798
- Base salary: $1,000,000
- Stock/option awards: $22,132,015
- Bonus + non-equity incentive compensation: $4,000,000
2. Michael S. Chae, Blackstone: $36 million
Known for: Being the highest-paid CFO on Wall Street and having broad experience in global private equity finance and investments. Chae has been with Blackstone since 1997 and now serves as both CFO and Sr. Managing Director.
Total Annual Compensation: $36,025,857
- Base salary: $350,000
- Stock/option awards: $14,586,650
- Bonus + non-equity incentive compensation: $3,179,404
- Other: $17,909,803
Winning: the #1 Highest Paid CFO In The World
Let’s face it: this guy makes mind-boggling amounts of money. That’s all I have to say about that.
1. Joe Berchtold, Live Nation Entertainment: $52.4 million
Known for: Being so well-compensated that it has caused an uproar amongst investors. In a non-binding vote, investors rejected pay packages for Berchtold and CEO Michael Rapino (who earned $139 million).
Total Annual Compensation: $52,356,095
- Base salary: $1,300,000
- Stock/option awards: $42,401,504
- Bonus + non-equity incentive compensation: $8,600,000 (includes one-time $6 million signing bonus)
For CFO Salaries, The Sky's The Limit
As we can see from this list, there are some exceptionally well-paid CFOs out there. In fact, some earn even more than popular CEOs at firms such as Meta.
If you’re an aspiring finance professional, it’s wise to aim high and understand the pure earning potential of this position. To get there, don’t forget to improve your finance skills, follow industry leaders on Linkedin and other platforms, read CFO books, and most importantly, subscribe to The CFO Club newsletter to hone your skills as a finance professional.