Blogs & Comment

CFO compensation

According to the websites for Chartered Accountants (CA), Certified General Accountants (CGA) and Certified Management Accountants (CMA), there are appoximately 200,000 people in Canada who hold or are working toward their professional designations. Payscale.comreveals that the median salary for accountants with 10 to 19 years of experience is $89,100 for a CA, $84,000 for a CMA and $76,300 for a CGA.
We decided to check out the CFOs of Canada’s largest public companies and came up with some interesting numbers. The median compensation for the 60 CFOs for the latest fiscal year was $2,236,100 — or about 25 times the median CA level. With the values of options exercised removed, the median came in at $1,487,950.
The annual compensation ranged from over $10,000,000 for Wayne Brownleeof Potash Corp. to $408,300 for Mark Gowof Fording Canadian Coal Trust. A total of 47 CFOs made more than $1,000,000 last year. Considering that the average Canadian tax filer pulled in about $39,900, accounting is certainly a profitable profession.