In short
- The closer the role sits to the board, the higher the salary. A CFO sits on the management team.
- Decide in advance which parts of the package are negotiable.
- Plan for the notice period and give a clear start date.
Finance manager or CFO?
A finance manager (ekonomichef in Swedish) usually runs the finance function and makes sure accounting, reporting and the budget process work. A CFO sits on the management team, works with financing and strategy and is often in direct contact with the board and owners. The closer the role sits to the board, the higher the salary.
Factors that set the salary
- The company's revenue and headcount.
- The number of direct reports in the role.
- A seat on the management team and contact with the board.
- Responsibility for financing, acquisitions or fundraising.
- International operations with several entities, currencies and regulations.
- Whether the company is listed or private equity-owned.
Base salary and variable pay
At executive level, the base salary is only part of the offer. Bonus, share programmes, occupational pension above the collective agreement and a company car are common. Decide in advance which parts you can negotiate, so you do not lose a candidate over a detail late in the process.
Plan for the notice period
Experienced finance managers in Sweden often have long notice periods. You need to plan for that, and it sometimes affects what the candidate expects in order to move. A generous offer rarely shortens the notice period, but a clear start date and a plan for the handover make the decision easier.
Where to find benchmarks
- Statistics Sweden (SCB), where finance managers are reported as a separate occupational group.
- Civilekonomerna's salary statistics, broken down by job level.
- Remuneration reports in listed companies' annual reports, for CFO roles in larger companies.