JOB SATISFACTION HIGH FOR FINANCE EXECUTIVES
CFOs Surveyed Say They Enjoy Their Jobs, No Plans to Move On Until Retirement
MENLO PARK, CA -- For many chief financial officers (CFOs), the greenest pastures are right in their own backyard, a new survey shows. When asked about their career aspirations, 36 percent of finance executives said they plan to stay in their current jobs; close to one-third (32 percent) hope their next move will be retirement. Only 10 percent of CFOs cited starting their own business as a goal, although these numbers increased when funding a new company was not a factor.
The survey was developed by RHI Management Resources, North America's largest consulting services firm providing senior-level accounting and finance professionals on a project basis. It was conducted by an independent research firm and includes responses from 1,400 CFOs from a stratified random sample of U.S. companies with more than 20 employees.
CFOs were asked, "Which one of the following comes closest to describing what you hope will be your next career move?" Their responses:
|No change/satisfied in current role||36%|
|Start own business||10%|
|Become employed as a consultant||6%|
|CFO for a larger company||6%|
|CEO or president of a company||6%|
CFOs were also asked, "If you had the necessary capital, how interested would you be in starting your own business, of any type?" Their responses:
|Not at all interested||40%|
|Don't know/no answer||3%|
"Finance professionals typically aspire to the position of CFO for an organization, so it's not surprising to see high levels of job satisfaction among executives in this role," said Paul McDonald, executive director of RHI Management Resources. McDonald added that a number of CFOs among the baby-boom generation are already making plans for retirement. "As this trend gains momentum, there will be a greater demand for senior-level financial professionals to fill these vacancies."
The risks associated with starting a business outweighed the perceived benefits, according to the survey. "The current economic climate may be a factor in this option's limited appeal," McDonald said. "When start-up costs were taken out of the equation, executives' interest in entrepreneurship increased significantly."
RHI Management Resources has more than 90 locations in major cities throughout North America, Europe and Australia, and offers online job search services at www.rhimr.com.
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