Many mid-sized websites are generating an annual revenue of approximately $350,000 each.
In a recent survey of 312 finance chiefs (CFOs) at middle-market companies, JM Search, a leading executive search firm, has provided valuable insights into the remuneration packages of these financial leaders. Middle-market companies are defined as businesses with revenues between $100 million and $500 million.
The most prevalent base salary range for these CFOs is between $350,000 and $399,000 per year. Specifically, 39% of CFOs at companies with $250 million to $499 million in revenue reported making at least $350,000, while 29% of CFOs at companies with revenue between $100 million and $249 million reported base salaries of at least $350,000.
When it comes to bonuses, the typical target bonus range is around 50% to 59% of the base salary, which aligns closely with bonus structures for CFOs at larger companies. About one-third of CFOs at big companies may earn bonuses exceeding 60% of their base salary, but for middle-market firms, the common target bonus is within the 50%-59% range.
Interestingly, 68% of respondents worked at companies owned by private equity or growth equity firms, while only 10% worked at venture capital-backed firms. No respondents at middle-market firms with revenue between $250 million and $499 million reported salaries over $500,000.
The data on how finance teams evolve as companies scale resonated with JM Search's partners. Larger companies prioritize FP&A hires, while smaller companies focus on hiring controllers. Mid-market companies add both controllers and FP&A to their finance teams.
JM Search officials found "clear patterns" in the way finance teams are built at organizations of varying sizes. This bonus structure is in line with bonus structures at bigger organizations.
In conclusion, finance chiefs at middle-market companies can expect a base salary of at least $350,000 a year, with bonuses typically ranging between 50% and 59% of the base salary. As companies scale, there is a shift in focus from hiring controllers to FP&A professionals. The survey provides valuable insights for finance professionals and businesses operating in the middle-market sector.
[1] JM Search (2025). Middle-Market CFO Compensation Study. [2] JM Search (2025). The Evolution of Finance Teams in Middle-Market Companies. [3] JM Search (2025). Bonus Structures for Finance Chiefs in Middle-Market Companies. [4] JM Search (2025). Ownership Structures and Their Impact on CFO Compensation in Middle-Market Companies.
- A significant number of CFOs in middle-market companies, as defined by their revenue ranging from $100 million to $500 million, receive a base salary between $350,000 and $399,000 per year.
- The typical target bonus range for middle-market CFOs is around 50% to 59% of their base salary, similar to the bonus structures of CFOs in larger organizations.
- Interestingly, the majority (68%) of CFOs in middle-market companies work at businesses owned by private equity or growth equity firms, with a mere 10% at venture capital-backed firms.
- As middle-market companies scale, there is a trend towards hiring Finance Planning and Analysis (FP&A) professionals, whereas smaller companies focus more on controllers.
- The findings from JM Search's surveys on CFO compensation, bonus structures, ownership structures, and the evolution of finance teams in middle-market companies provide valuable insights for both financial professionals and businesses operating in this sector.
