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How to Become a Chief Financial Officer (CFO): Australian Careers in Finance

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What is a Chief Financial Officer (CFO)?

What will I do?

What skills do I need?

Resources

What is a Chief Financial Officer (CFO)?

A Chief Financial Officer (CFO) is the most senior finance executive in an organisation. They manage financial health, lead the finance team, and report to the CEO.

CFOs oversee budgeting, financial reporting, risk management, and compliance with the Corporations Act 2001. They set financial strategy and keep the business solvent and profitable.

A CFO presents financial results to the board and to investors. They turn complex data into clear insights that guide major business decisions.

The path to CFO usually takes 15 to 20 years in accounting or finance. A CPA or CA designation is needed by most employers, along with proven leadership.

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Career snapshots For Chief Financial Officer (CFO)s

CFO salaries in Australia range from about $190,000 to $520,000 per year (source: Robert Walters Salary Survey, 2026). The average is around $300,000 per year. Pay is highest in Sydney and Perth, where large ASX-listed companies offer the best packages.

The role is typically held by professionals in their mid-40s to early 50s. Most CFO positions are full-time and permanent. Weekly hours range from 45 to 60, depending on company size and workload.

CFO demand is steady across all Australian industries. The role is growing in scope as companies invest in finance technology, ESG reporting, and data analytics. Professionals with skills in these areas are best placed for senior finance appointments in the years ahead.

What will I do?

A Chief Financial Officer (CFO) manages the financial health of an entire organisation. The role covers everything from day-to-day reporting to long-term strategic planning.

CFOs lead the finance team and are responsible for budgets, forecasts, and financial reports. They ensure the business meets all requirements under the Corporations Act 2001 and Australian Accounting Standards. Their work supports every major decision made by the executive team and board.

  • Financial Planning – Develops and manages financial strategy to support business goals.
  • Budget Management – Leads the annual budget process and monitors spending.
  • Financial Reporting – Prepares financial statements for stakeholders and regulators.
  • Risk Management – Identifies financial risks and builds strategies to reduce them.
  • Regulatory Compliance – Ensures the company meets all financial laws and accounting standards.
  • Cash Flow Management – Monitors and manages cash flow to maintain liquidity.
  • Investment Oversight – Assesses investment opportunities and manages the company’s capital.
  • Team Leadership – Leads and mentors the finance and accounting teams.
  • Stakeholder Communication – Presents financial results and strategy to the board and investors.
  • Strategic Planning – Works with the CEO and executive team to set long-term goals.

What skills do I need?

A successful CFO needs a mix of technical expertise and strong leadership. Finance skill alone is not enough for the role.

On the technical side, CFOs must understand reporting standards, tax, risk management, and corporate governance. Strong skills in financial modelling are also key.

Soft skills are just as important. CFOs lead large teams, influence boards, and work with investors and lenders. Clear communication and sound judgement both matter.

The best CFOs also keep up with technology. Finance systems, data tools, and automation are now core parts of the role.

Skills/attributes

  • Financial reporting and analysis
  • Strategic planning and decision-making
  • Risk management and compliance
  • Leadership and team management
  • Budgeting and cash flow management
  • Financial modelling and forecasting
  • Corporate governance knowledge
  • Stakeholder and investor relations
  • Communication and presentation skills
  • Data analytics and financial technology
  • Mergers, acquisitions, and capital raising
  • Tax and treasury management
  • Ethical standards and integrity
  • Problem-solving and critical thinking
  • Ability to lead through change and uncertainty

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About the author

Laura Atkinson

Laura Atkinson

Laura Atkinson is an Account Management and SEM specialist at Course Finder Group with six years' experience in the Australian education sector. She works day to day with universities, TAFEs and independent training providers, which gives her a close view of how courses map to real career outcomes. She writes practical guidance on career pathways, choosing the right qualification and what to expect when moving into a new field.