Middle-tier online platforms are generating annual revenues exceeding $350,000 each.
In a recent survey of 312 CFOs in the United States, JM Search, a leading executive search firm, has shed light on the compensation expectations and bonus structures for finance chiefs in middle-market companies.
According to the study, finance chiefs at middle-market companies, defined as those with revenues between $100 million and $500 million, typically earn a base salary in the range of $350,000 to $399,000 per year. Specifically, 29% of CFOs at companies with $100 million to $249 million in revenue and 39% at companies with $250 million to $499 million in revenue reported earning at least $350,000. Interestingly, very few CFOs in the middle market earn over $500,000 in base salary.
Regarding bonuses, JM Search found that middle-market CFOs usually have a target bonus range of 50% to 59% of their base salary, which is consistent with bonus structures at larger companies. For large companies, nearly one-third of CFOs earn bonuses exceeding 60% of their salary, but for middle-market firms, the standard target remains within the 50%-59% bracket.
The data provides a clear benchmark for compensation expectations for finance chiefs in U.S. middle-market companies. Here's a summary of the key findings:
| Revenue Range (in $ millions) | Average Base Salary Range | Typical Bonus Target (% of Base Salary) | |-------------------------------|---------------------------|-----------------------------------------| | $100M - $249M | $350,000 - $399,000 | 50% - 59% | | $250M - $499M | $350,000 - $399,000 | 50% - 59% |
JM Search's study also found "clear patterns" in the way finance teams are built at organizations of varying sizes. The firm noted that larger companies tend to prioritize FP&A hires, while smaller companies focus on hiring controllers. In the middle market, both controllers and FP&A professionals are added to the finance team.
JM Search's network has a strong presence in the private equity and growth equity sector, with 68% of respondents in the survey working at companies owned by private equity or growth equity firms. Only 10% of respondents work at venture capital-backed firms, and a mere 4.5% work at publicly traded firms.
The data on how finance teams evolve as companies scale resonated with JM Search's partners, who believe that the insights gained from this study will help companies make informed decisions about their finance team structures and compensation packages.
[1] Source: JM Search 2025 Survey of 312 CFOs in the United States.
- In the midst of discussing compensation for finance chiefs in middle-market companies, it's interesting to note that personal finances of these professionals are largely influenced by their base salaries, which range from $350,000 to $399,000 annually.
- As the growth of a company increases, the focus of finance teams shifts from hiring controllers to prioritizing FP&A hires in larger organizations, while maintaining a balance between both in the middle market.
- As per the JM Search 2025 Survey, there's a significant trend in the business world with 68% of finance chiefs in the survey working at companies owned by private equity or growth equity firms, and only 10% at venture capital-backed firms.
- The revenue margin for finance growth in middle-market businesses, defined as those with revenues between $100 million and $500 million, is substantial, with the typical bonus target ranging from 50% to 59% of their base salary.
- For businesses looking to make informed decisions about their finance team structures and compensation packages, understanding the equity and compensation expectations for CFOs in the middle market, as outlined in the JM Search study, becomes crucial in the realm of personal and corporate finance.
