Finance: Survey Says: Manufacturing Execs See Salaries Slide

"CFOs are no longer just the keeper of the numbers, but instrumental to executing the broad business strategy, from growth through acquisitions and maximizing existing assets to navigating an increased financial and industry-specific regulatory environment," says Randy Ramirez, a senior director at BDO.

Dave Blanchard

Nov. 1, 2013

manufacturing executive salaries decrease

It's not a great time to be a manufacturing CEO, at least not if you have any expectation of a salary increase. According to a recent study conducted by accounting and consulting firm BDO USA, CEOs at midmarket manufacturing companies saw their salaries drop by 6% over the past year; the only other industry where CEOs saw a salary decrease is retail, where the decline was 1%. The average increase, of the eight industries studied, was 6% (see chart at right).

Industryweek Com Sites Industryweek com Files Uploads 2013 10 Chart

It's even worse if you're a manufacturing CFO, since the average salaries dropped by 12% last year. But for CFOs as a group, it's mostly good news, with salaries overall being up 5%.

"The CFO role is undergoing a period of notable change, as even more is expected of today's CFOs," explains Randy Ramirez, a senior director at BDO. "CFOs are no longer just the keeper of the numbers, but instrumental to executing the broad business strategy, from growth through acquisitions and maximizing existing assets to navigating an increased financial and industry-specific regulatory environment. As the position evolves, pay rates across some industries are starting to meet those new demands."

About the Author

Dave Blanchard

Senior Director of Content

Focus: Supply Chain

Call: (941) 208-4370

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During his career Dave Blanchard has led the editorial management of many of Endeavor Business Media's best-known brands, including IndustryWeek, EHS Today, Material Handling & Logistics, Logistics Today, Supply Chain Technology News, and Business Finance. He also serves as senior content director of the annual Safety Leadership Conference. With over 30 years of B2B media experience, Dave literally wrote the book on supply chain management, Supply Chain Management Best Practices (John Wiley & Sons, 2010), which has been translated into several languages and is currently in its second edition. He is a frequent speaker and moderator at major trade shows and conferences, and has won numerous awards for writing and editing. He is a voting member of the jury of the Logistics Hall of Fame, and is a graduate of Northern Illinois University.