New Zealand's finance bosses have ambitious plans

One in five of New Zealand's chief financial officers wants their next career step to be into a CEO role. Photo/Supplied.

New Zealand's top money men and women are not satisfied with reaching the peak of their financial career - many also want to be the boss.

Research by recruitment company Robert Half has found one in five New Zealand chief financial officers is hoping their next career move will be into a chief executive role.

A further 23 per cent said they planned to move on to a bigger company in the same role and another 21 per cent said they wanted to head up a business division other than finance.

Just 11 per cent were either satisfied in their current role or were not looking to make a change.

Megan Alexander, general manager Robert Half New Zealand, said the research showed New Zealand's chief financial officers (CFOs) were ambitious and highlighted the fact that becoming a CFO was not necessarily the peak of their career ambitions.

"Our findings show New Zealand CFOs are acutely aware of what they want for the future of their careers and the necessary steps needed to achieve the next step."

The findings were in line with Australian CFO research which also found that 20 per cent wanted to move into a CEO's role in their current organisation.

Alexander said the modern CFO was now considered a strategic business partner who was not only responsible for their organisation's finance department, but is able to contribute to the overall direction of the business - attributes that are part of the broad skill set needed to step up into the CEO role.

Being able to lead an organisation often requires professionals to have an in-depth understanding of the business's finance function and an informed view of the broader financial environment, which are key tenets of any CFO's role.

Megan Alexander

Alexander said the current market for CFOs in New Zealand was buoyant, so it was not surprising to see a large number of CFOs ambitious to take the next step in their career by moving on to a larger organisation.

As well as career progression the move is also likely to come with a bigger pay-check.

According to Robert Half's 2016 New Zealand Salary Guide, a CFO/Financial Director working in small or medium-sized organisation can earn between $190k-$250k, and a CFO of a large organisation can earn between $200k-$500k.

Of those surveyed 56 per cent said gaining experience in another part of their company was vital to taking their next career step while 49 per cent said managing a major project was vital while 40 per cent pointed to stronger relationships with external stakeholders.

Alexander said it was important for all professionals to map out their career journey.

"Knowing one's career aspirations allows them to focus on their ultimate career goals."

The survey questioned 100 New Zealand chief financial officers.