Most CFOs currently retire or transition out of their roles between the ages of 55 and 57. Recent data indicates a trend toward earlier retirement, with the average age of retirement or moving to board roles being 56.6 years old, as of early 2024.
Retirement. 54% of outgoing CFOs either retired or transitioned into board roles. Now, 56.6 is the average age when they do so, marking the lowest average in six years, per the report.
Shortening Tenures and Mounting Turnover
By 2024, the average tenure for a CFO in the S&P 500 and other major indexes stood at just 5.8 years, down from 6.2 in 2023. In the U.S., CFOs now average around 3.1 to 3.5 years, markedly shorter than in other senior roles.
The average age of retiring CEOs has remained consistent since 2010, between the ages of 62 and 65, according to January data from executive outplacement firm Challenger, Gray & Christmas.
The average chief finance officer age is 51 years old. The most common ethnicity of chief finance officers is White (76.1%), followed by Hispanic or Latino (7.9%), Asian (7.7%) and Unknown (3.9%).
CFOs increasingly face challenges across business functions, from cyber risk to talent gaps to maintaining rigorous finance and accounting controls. How much does all that weigh on their mental health? As a C-Suite executive, the CFO is in a position of immense responsibility and, typically, stress.
Poor Performance: 34% of CEOs Ousted for Consistent Underachievement. According to Harvard Business Review, financial underperformance remains the top reason for CEO turnover globally.
A great CFO will not only have strong financial skills but will also have excellent leadership skills. Many finance professionals have a reputation for being soft-spoken. However, a CFO should be able to lead their financial team as well as to provide guidance to the operations team.
Nolan Watson became the CFO of Silver Wheaton at age 26.
Within a year Nolan was named as the company's chief financial officer, making him the youngest-ever CFO of a New York Stock Exchange-listed company.
Industry: High-growth and high-profit industries, such as technology and financial services, tend to offer more competitive CFO salaries and compensation packages. Company Size and Revenue: Larger companies pulling in higher revenues typically offer higher salaries to attract top talent.
Top 3 things CEOs hate to see coming: 1. submarines 2. Luigi Mangione 3. Coldplay.
Roughly 7% to 9% of American households have $500,000 or more in retirement savings, though figures vary slightly by source, with data from late 2025 suggesting around 7.2% and older 2022 data indicating about 9%, showing it's a significant milestone achieved by less than one in ten families, despite higher averages driven by wealthy individuals.
Key takeaways
The average age for men to retire is 65 while the average age for women to retire is 63. Americans can qualify for Medicare benefits starting at age 65. Social Security payouts can be lowered up to 30% if collected before full retirement age.
Steve Gallucci, US and global CFO program leader at Deloitte, sees things similarly, citing economic uncertainty, cyber and tech risk, and talent management as the biggest external concerns on CFOs' minds this year.
While the professionals we analyzed took various paths to reach CFO, the data says that the most straightforward path to the CFO seat is: Go to a top 100 school, get a bachelor's degree in finance, and then get an MBA.
The 10-5-3 rule in finance is a guideline for setting realistic, long-term return expectations from different asset classes: 10% for equities (stocks), 5% for debt instruments (bonds, fixed deposits), and 3% for cash/savings accounts, helping investors build diversified portfolios with balanced risk and reward. It's a simplified benchmark based on historical averages, not a guarantee, emphasizing diversification and a long-term view, though actual returns vary with market conditions, inflation, and personal risk tolerance.