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Why don’t I just hire my own full-time CFO? |
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If your company can afford to - then great. However, keep in mind that in a small to mid-sized market a good CFO’s loaded compensations can easily be upwards of $120 an hour or $250,000 per year before equity or bonuses. Add in another 25% to 50% for equity and bonus incentives that many companies give their CFO’s and you will be paying out a very hefty sum of money. FYI: The average length of employment for a full-time CFO is now down to 2.5 years. Searches, placement cost and fees will be expensive each time you need to replace the CFO. In many cases having a CFO on retainer may be the most cost-effective use of the company’s money. It would cut the cost of having a full-time CFO on staff by as much as 80% a year still getting the expertise needed for the company.
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