If you want to become a chief financial officer (CFO), know that the role demands far more than technical proficiency in financial reporting, cash flow management, and other mechanics of finance and accounting. The modern CFO must lead with strategic insight, emotional intelligence, and the ability to collaborate across diverse teams. They must understand how every business function contributes to performance and navigate risks that can impact the company’s bottom line. That means professionals considering the career path to CFO must develop a skill set that transcends finance.
The CFO job description has expanded significantly over the past two decades to become one of the most influential positions in the executive suite—partnering closely with the CEO, collaborating across departments, and shaping everything from financial planning and mergers and acquisition (M&A) strategy to digital transformation and workforce development.
What is the career path to CFO?
There’s no one path to the CFO chair. However, if you study typical chief financial officer career paths, you will see a long pattern of focused effort in building technical expertise and strategic leadership skills.
Many CFOs begin their finance careers in entry-level roles like financial analyst or staff accountant, eventually moving into management positions like controller or finance director. Along the way, they develop and expand their experience in areas such as budgeting, risk management and operations.
For many professionals, the CFO career path also includes lateral moves across business units, international assignments or time spent in consulting—each experience offering opportunity to expand overall business knowledge and gain new perspectives.
Key steps to consider taking along the CFO career path
So, how can you position yourself for one of the most influential roles in the C-suite? These seven steps can help guide and advance your journey.
1. Expand your business education
The CFO’s remit once centered primarily on financial reporting, compliance and stewardship. A bachelor’s degree in accounting or finance—often paired with a CPA designation—was considered a solid educational foundation for this leadership role. However, many companies now seek candidates who possess broad business acumen in addition to financial expertise. This is why an aspiring CFO may want to pursue an MBA or similar advanced degree.
Can you become a CFO today without an MBA? The short answer is yes. However, it can help you stand out as a candidate—and ultimately, be a more effective C-level executive. Business school can expand your understanding of operations, corporate strategy and organizational behavior. Equally important, it helps sharpen critical thinking, strengthen decision making under pressure, and enhance interpersonal skills – traits that are essential for leading diverse teams and navigating complex business challenges.
So, whether it’s an MBA, a specialized master’s degree in finance or analytics, or executive education through a professional association, the right investment in learning can help you amplify your leadership potential and advance your career path to CFO. Just be sure that when you apply for roles, your CFO resume highlights both the technical expertise and strategic business skills today’s employers expect.
2. Strengthen your command of financial fundamentals
CFOs are responsible for shaping financial strategy, supporting sustainable growth and ensuring the organization’s long-term fiscal health. That requires advanced knowledge in core areas of finance such as budgeting and forecasting, financial reporting, compliance, capital planning, and enterprise risk management. These capabilities underpin the CFO’s ability to guide investments, manage liquidity, assess performance, and deliver financial insight to executives, investors and the board of directors.
Complementing these technical skills are the soft skills that support sound financial leadership – resilience in the face of market volatility, meticulous attention to detail when analyzing complex data and unwavering ethical judgment when making high-stakes decisions. These qualities help CFOs maintain credibility and trust while navigating uncertainty and upholding the integrity of financial operations.
Building a strong financial foundation starts with hands-on experience in roles that develop your technical capabilities and business insight. Positions such as staff accountant or controller can offer critical exposure to how businesses manage capital, meet compliance requirements and measure performance. These roles also provide a front-row view into how financial data shapes strategic decisions—insight that’s critical as you move along the path to CFO.
Learn more about skill sets that can enhance your career in finance.
3. Develop executive presence and grow your influence
CFOs don’t just guide finance and accounting teams. They also advise the CEO, present to the board and clearly convey complex financial matters to a wide range of stakeholders. So, while you need technical skills to launch a finance career, strong leadership and communication skills help you advance it.
Key communication abilities—such as storytelling to make data relatable, negotiation to align competing priorities, and active listening to understand stakeholder concerns—are essential for building trust and influence at the executive level. These skills help CFOs translate financial into compelling narratives that drive strategic decisions.
To develop these capabilities, look for opportunities to lead high-profile projects, present to senior leaders and contribute to cross-functional initiatives. Consider stepping into mentoring roles or volunteering to represent your department on enterprise-wide committees. These experiences can move you along the CFO career path by helping you build credibility and visibility as an emerging leader.
4. Build operational and cross-functional expertise
The modern CFO is expected to weigh in on decisions that span the entire organization—from product development and supply chain strategy to workforce planning and technology investments. To do that effectively, you need firsthand insight into how each function operates, how decisions are made and how different teams contribute to business performance. This requires not only business insight but also strong collaboration, empathy and cultural awareness to work effectively across teams.
To build this understanding, look for ways to step outside your lane. Shadow colleagues in other departments, volunteer for cross-functional initiatives or take on roles that allow you to work closely with teams in operations, marketing or HR. Even short-term assignments outside of finance can expand your perspective and sharpen your ability to connect financial priorities with broader business goals.
Explore these tips for building a strong CFO resume that highlights your leadership impact and cross-functional experience.
5. Engage with emerging technologies that impact finance and accounting
Technology is reshaping the finance function—from how teams forecast and report financial information to how companies manage risk and allocate resources. Increasingly, chief financial officers are expected to collaborate with chief information officers (CIOs), chief technology officers (CTOs), and other tech leaders to evaluate digital investments, improve operational performance and strengthen data security.
To lead effectively as a modern CFO, you’ll therefore need solid working knowledge of the technologies influencing your business and industry. That may require you to:
Learn how advanced data analytics tools can improve forecasting accuracy
Understand the financial and operational implications of enterprise resource planning (ERP) upgrades, automation and cloud migrations
Stay informed about relevant cybersecurity and data governance issues
Equipping yourself with digital fluency also calls for curiosity, openness to change, and strategic foresight – qualities that help CFOs anticipate trends, embrace innovation, and guide their organizations through transformation. Pursuing the CFO career path doesn’t require you to become a technologist, but you do need the ability to connect innovation to business outcomes and help shape the finance organization’s digital road map.
See these career tips for professional growth in finance—including learning how to work with AI, data analytics and blockchain technology.
6. Embrace the expanding scope of CFO leadership
Today’s finance leaders are often called on to play an active role in shaping company direction, driving transformation and influencing decisions that span well beyond the general ledger—a significant shift from the traditional CFO job description.
That evolution shows no signs of slowing. CFOs are increasingly involved in areas like environmental, social and governance (ESG) reporting, workforce planning, M&A strategy, customer experience, and digital innovation. The CFO also often serves as a key voice in scenario planning and crisis response, helping the business manage change and disruption while balancing risk and opportunity.
To thrive in this broader role, CFOs must lead with visionary thinking, adapt quickly to shifting priorities and foster inclusive leadership that brings diverse perspectives into strategic conversations. Embracing this expanded scope of the CFO role means staying curious, asking thoughtful questions, engaging in continuous learning, and growing your network inside and outside the business.
7. Build external relationships—and board readiness
CFOs need to navigate a wide range of external relationships, including with investors, lenders, auditors, regulators, analysts and the board of directors. Diplomacy, trust building and strong stakeholder management are essential soft skills for maintaining these relationships and representing the organization with credibility and confidence.
You can grow your understanding of these various relationships and how to manage them with confidence once you become a CFO by:
Attending industry conferences and leadership events to stay informed on market trends
Getting involved with professional associations or finance leadership groups that offer access to senior executives and peer learning
Building a deeper rapport with external stakeholders you already engage with, such as audit teams, financial advisers or consulting partners
Staying informed about regulatory, economic and market shifts that affect your industry, and discussing them with peers and mentors
These measures can equip you with valuable market insight, broaden your perspective and help position you as a trusted voice on business-critical issues. Also, consider studying the concept of board readiness and diving into topics like governance, fiduciary responsibility and enterprise risk oversight. Effective CFOs don’t just report to the board—they contribute meaningfully to their work. That’s why board readiness can be a rewarding avenue to explore along the path to CFO.
What is a good CFO salary?
CFO compensation reflects the weight of the role – strategic leadership, financial stewardship and cross-functional influence all come with high expectations and high rewards. While exact figures vary by industry, company size and location, CFOs may command total compensation packages that go well beyond base pay such as bonuses, stock options and other long-term incentives.
Curious about what your earning potential could look like? Robert Half’s latest Salary Guide offers detailed insights and tools to help you benchmark compensation in your market.
Ready to embark on the CFO career path?
The current listings on our website can be a valuable starting point for your job search. See what types of skills and experience employers are seeking in candidates for CFO roles.
