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The role of a CFO is crucial to the success of any business. A CFO provides financial oversight and guidance, helps to make strategic decisions, and manages financial risks. However, not all businesses can afford to hire a full-time CFO. For small businesses or startups, a part-time CFO may be a more cost-effective solution. So, how much does a part-time CFO cost?

Part Time CFO Rates

The cost of a part-time CFO depends on several factors, including the size of the business, the industry, the complexity of the financial situation, and the location. A part-time CFO typically charges an hourly rate or a monthly retainer fee. Hourly rates can range from $100 to $400 per hour, while monthly retainers can start around $1,500.

What Factors Can Affect Part Time CFO Rates?

Size of Your Business

This is probably the most important factor in determining the cost of a part-time CFO. The larger the company, the more complicated its finances are likely to be. Therefore, you’ll need to hire someone with the experience and know-how to handle a higher volume of transactions. That being said, even small businesses can benefit from having a part-time CFO on staff. If your business is growing quickly or you’re thinking about making a major financial decision (like taking out a loan or going public), it’s always a good idea to have someone on hand who knows what they’re doing.

Keep Reading: The must-have skills of a CFO


Certain industries are more complex than others when it comes to finance. For example, if you’re in the healthcare industry, there are strict regulations around how you can and cannot use money. You’ll need to make sure that your part-time CFO has experience working within your industry so they can navigate the complexities specific to your field.

Level of Experience

The level of experience you need will also affect the cost of hiring a part-time CFO. If you’re a startup with no previous experience in finance, you’ll need someone who is comfortable working with entrepreneurs and teaching them the ropes as they go along. On the other hand, if you’re an established business with a finance team in place, you might just need someone to come in and oversee things on a high level. Either way, be sure to communicate your needs upfront so you can find someone who is qualified and doesn’t break the bank.

Keep Reading: What does a CFO do in a small business?


Last but not least, where you live will also play a role in how much it costs to hire a part-time CFO. If you’re based in a major metropolitan area like New York City or San Francisco, expect to pay on the high end due to increased competition for top talent. Conversely, if you’re located in a more rural area, you might be able to get away with paying less.

What Tasks Can a Part Time CFO Handle?

So, what exactly can you expect from a part-time CFO? Below are some of the most common tasks that CFOs handle:

Budgeting and forecasting

One of the most important roles of a CFO is to develop and oversee the budget for the company. This includes creating financial projections for future quarters and years so that the company can plan for growth and make informed decisions about strategic investments.

Keep Reading: How much does bookkeeping cost?

Risk management

Another key responsibility of a CFO is to identify and assess risks that could impact the financial health of the company. This includes things like market risk, credit risk, operational risk, etc. Once these risks have been identified, the CFO works with other members of senior management to develop strategies for mitigating them.

Investment planning

A good CFO will also help you plan for future growth by evaluating different investment opportunities—such as venture capital funding, loans, etc.—and advising you on which ones make the most sense for your business.

Financial reporting

The CFO is also responsible for overseeing all financial reporting for the company. This includes preparing monthly, quarterly, and annual financial statements as well as coordinating with auditors to ensure that all financial reporting is accurate and compliant with Generally Accepted Accounting Principles (GAAP).

In general, part-time CFOs can be an invaluable asset to small businesses. They offer an affordable alternative to full-time chief financial officers while still providing many of the same services—such as budgeting and forecasting, risk management, investment planning, and financial reporting. So if you’re looking for someone to help take your business to the next level financially, consider hiring a part-time CFO. You won’t be disappointed.