The median annual income reported for Chief Corporate Financial Officers (CFO)in the manufacturing field is $130,032, but 10 percent make less than $87,414 and 10 percent make over $259,603. Of course, not all financial professionals working in the manufacturing industry are CFOs. Even among CFOs, pay varies widely with the fiscal size of the manufacturing firm. For example, CFOs in manufacturing firms with annual revenues of $10-$24.9 million have a median annual income of $111,916 vs. $226,325 when annual revenue is a billion dollars or more.
This information comes from a recent survey of employees in the manufacturing field conducted by Dr. Steven Langer, President of Abbott, Langer & Associates, Inc., Crete, IL.
Three hundred and fourteen firms participated in the survey report, supplying pay data for over 53,000 managerial, supervisory, sales, engineering, technical, clerical, and blue-collar employees. This resulted in the eight-volume report Compensation in Manufacturing, 25th Edition - 2005. Copies of the report are available for $1,495.00 from Abbott, Langer & Associates, Inc., Dept. NR, 548 First Street, Crete, IL 60417 (telephone 708/672-4200; fax 708/672-4674; http://www.abbott-langer.com. The Findpay Program (which permits the user to determine pay levels of each survey job on the basis of two or more variables simultaneously) is available at $3,495.00 for software and printed report or $2,495.00 for software only. An eight-volume companion report, Compensation in Smaller Manufacturing Firms (those with under 250 employees), is available for $795.00. Each volume of both reports may be purchased separately.
Other financial jobs surveyed have the following middle 50 percent ranges:
- Corporate Controllers, $73,508 - $108,872
- Cost Accounting Managers, $62,273 - $82,545
- General Accounting Managers, $53,893 - $73,485
- Financial Analysts/Auditors, $45,300 - $63,161
- Cost Accountants, $42,332 - $55,718
- General Accountants, $34,263 - $48,250
- Cost Analysts, $31,320 - $52,606
- Payroll Clerks, $25,043 - $35,880
- Billing Clerks, $24,148 - $31,810
- Account Clerks, $23,525 - $30,322
Naturally, the figures reported vary by region, state, type of product manufactured, number of employees, total annual revenue, and level of supervisory/managerial responsibility. Income data by each of these variables appear in the complete report by job.
For more information on this report and the other compensation surveys published by Abbott, Langer & Associates, Inc., visit our web site at www.abbott-langer.com.