Understanding Chief Financial Officer Salary in the UK

When researching a chief financial officer salary, it is important to recognise that pay varies widely by company size, ownership structure, region, and individual experience. Unlike many roles where national pay scales exist (such as NHS bands or teacher pay), CFO compensation is largely market-driven. The most recent comprehensive data for the UK mid-market comes from the Directorbank CFO Remuneration Study 2026, which surveyed CFOs in businesses with turnovers typically between £10 million and over £100 million.

Median and Range for Mid-Market CFOs

The study reports a median base salary of £170,000 for UK mid-market CFOs, with a tight interquartile range of £140,000 to £200,000. This means half of all CFOs in this segment earn between these figures. Listed company CFOs command a clear premium, with a median of £200,000, while privately owned businesses lag at £160,000. Private equity-backed businesses, which make up 60% of the study universe, show a median of £170,000, closely matching the overall figure.

Business size is the strongest driver of base salary. In PE-backed businesses, CFO median base salary rises from £145,000 at £10m–£19m turnover to £200,000 at over £100m turnover. The number of direct reports is equally telling: CFOs managing more than ten direct reports earn an average of £222,000 versus £167,000 for those with fewer than four.

Regional Differences in CFO Pay

London and the South East offer a pay premium, but the gap with other regions is narrower than some might expect. For PE-backed CFOs, the median base salary in London and the South East is £180,000, with a 90th percentile of £300,000. In the North West, the median is £170,000 (P90 £220,000), and in Yorkshire & North East it is £165,000 (P90 £200,000). This reflects growing private equity activity in cities such as Manchester, Leeds, and Newcastle, increasing competition for experienced CFO talent.

For listed company CFOs, the London premium is likely more pronounced, though the study does not break down listed pay by region. If you are considering a CFO role outside London, the data suggests that base salaries are competitive, especially in PE-backed firms.

Seniority and Experience Premium

Experience significantly boosts a chief financial officer salary. CFOs with more than three prior No.1 finance roles earn an average of £215,000, a 49% premium over first-time CFOs who average £144,000. This makes a strong case for hiring proven, repeat CFO talent. The premium reflects the value of experience in handling complex financial operations, investor relations, and strategic decision-making.

How CFO Pay Compares to National Benchmarks

To put CFO salaries in context, the Office for National Statistics (ONS) Annual Survey of Hours and Earnings (ASHE) for 2025 shows median full-time gross annual earnings of £39,039 for all UK employees. The median hourly rate (excluding overtime) is £19.67. A CFO earning £170,000 per year is therefore well above the national median, but the role carries significant responsibility and long hours.

The National Living Wage for employees aged 21 and over was £12.21 per hour in April 2025, rising to £12.71 per hour in 2026/27. For comparison, an NHS Band 5 entry step point in 2026/27 is £16.40 per hour, and Band 6 entry is £20.44 per hour (NHS Employers). These figures highlight how CFO pay sits at the top end of the UK earnings distribution.

Converting CFO Annual Salary to Hourly Rates

If you want to understand what a CFO salary equates to on an hourly basis, a standard conversion uses a 37.5-hour week over 52 weeks (1,950 hours per year). For a £170,000 base salary, this gives approximately £87.18 per hour. However, CFOs often work well beyond 37.5 hours, especially during reporting periods, fundraising, or acquisitions. The effective hourly rate may be lower when unpaid overtime is considered. Use our hourly calculator to run your own conversions, and always check your contract for agreed hours and any overtime provisions.

For more context on how salaries compare across different roles and industries, browse our salary articles covering everything from entry-level positions to executive pay.

Caveats and Further Reading

The Directorbank study focuses on mid-market CFOs; it does not cover FTSE 100 or very large company CFOs, whose total compensation packages (including bonuses, equity, and benefits) can be several times higher. The figures quoted are base salary only. Additionally, regional comparisons are based on PE-backed businesses; other ownership structures may show different patterns.

For official earnings data across all occupations, refer to the ONS ASHE releases. For minimum wage rates, consult GOV.UK. The NHS pay scales provide a useful benchmark for public sector professional roles.

Summary

A chief financial officer salary in the UK mid-market typically ranges from £140,000 to £200,000, with a median of £170,000. London and the South East offer a premium, but northern regions are closing the gap. Experience commands a significant premium, with seasoned CFOs earning nearly 50% more than first-timers. When converting to an hourly rate, remember that CFOs often work long hours, so the effective rate may be lower than a simple annual-to-hourly division suggests.