The 2025 Highest-paid CFOs Revealed

Unpacking the numbers

Pay for CFOs in both S&P/ASX 200 and S&P/ASX 300 companies showed minimal growth compared to the previous year. For CFOs of S&P/ASX 200 companies, the median pay rose modestly by 0.8% to $1.61 million. CFOs of S&P/ASX 300 companies saw no change, with median pay remaining steady at $1.37 million.

Last year, we reported that CFOs of S&P/ASX 300 companies saw a 12.8% pay increase, following a 9% rise the year before. For S&P/ASX 200 companies, CFO pay had increased 10.1%, building on a 24% surge from the previous year.

In the Australian Financial Review, Phil McCann emphasises that while fixed remuneration and short term incentives have generally increased, there has been a drop in long term incentive (LTI) payouts. Contributing factors are the continuing high movement of CFOs who may be sacrificing vesting LTI’s to move companies combined with a year of poor profit results for ASX300 companies flowing through to a reduction in LTIs granted.  

The overall median pay within the ASX100 has also been impacted by some major acquisitions such as Alcoa acquiring Alumina and Newmont acquiring Newcrest. In both cases, the incumbent CFOs remuneration of the acquiring companies is significantly higher in USD than the acquired company CFO.  There have also been several recent examples of companies strategically offshoring their CFO, mostly to the US, to be closer to their biggest market such as Xero and Ansell for generally higher remuneration packages.  

With 1 in 3 of the new ASX100 CFOs renewed via internal promotion in 2024, including JB Hi-Fi, Origin Energy and Worley, Phil discusses the role that succession planning plays in moderating remuneration increases, given companies often avoid the premiums paid to attract external candidates.  

The 2025 report on the highest-paid CFOs in Australia not only highlights the top earners but aims to provide a deeper understanding of the trends and factors influencing CFO compensation across all industry sectors. As the corporate landscape continues to evolve, the role of CFOs remains crucial in navigating the increasing complexities and uncertainties that many ASX businesses are facing.  

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Get in touch. For more CFO insights or more about the CFO Practice, contact Phil McCann, at phil.mccann@odgersberndtson.com.