CFOs in demand amidst fundraising and IPOs
The tech hiring has been on a rise in the startup space however as the funding zooms, the startups are in dire need of CFOs and Heads of Finance (HoF). There are over 100 open positions of CFOs and HoFs in the startup world, according to YourCFO. The salaries have also seen a rise as high as 25-30% especially in 2020, as mentioned by reports of an executive search firm, Transearch.
Several companies have hired a full-time CFO in the past two years. According to the founder of YourCFO, Mr. Gaurav Nanda, the demand for CFOs and HoFs will continue to rise as these startups try to affirm their place in the market. Various kinds of incentives and a hike in salaries have been observed in recent times.
It is said that after raising a large funding, several startups hire senior finance roles. Many SMEs look for CFOs that have had earlier IPO experience.
YourCFO’s analysis of various companies shows that only 35% of the startups had a full-time CFO or Head of Finance and most of these were hired in the last two years only. “The remaining two-thirds of this high growth cohort would be deploying their capital and lining up for further investments in the current buoyancy. They will soon be seen on the lookout for full-time CFOs and Heads of Finance”- Gaurav Nanda Founder and CEO of YourCFO.online.