CFO COMPENSATION IN PE-BACKED MANUFACTURING FIRMS

We analysed compensation data from 168 CFOs operating within Private Equity-backed Manufacturing businesses across North America.
The data is segmented by revenue size to illustrate how CFO compensation, bonus structures, and equity participation evolve as manufacturing platforms scale in size, complexity, and capital intensity.

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RESPONDENT BREAKDOWN

• 45% from firms with under $50M revenue

• 30% from firms with $50M–$150M revenue

• 25% from firms with over $150M revenue

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BASE SALARY

Firms < $50M Revenue

• Lowest: $100,000

• Median: $225,000

• Highest: $350,000

Firms $50M–$150M Revenue

• Lowest: $175,000

• Median: $275,000

• Highest: $450,000

Firms > $150M Revenue

• Lowest: $250,000

• Median: $350,000

• Highest: $650,000+

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BONUS STRUCTURE

• 88% of CFOs at firms < $50M receive a bonus of 50% or less

• 79% of CFOs at firms $50M–$150M receive a bonus of 50% or less

• 62% of CFOs at firms > $150M receive a bonus of 50% or less

Key insight: As manufacturing platforms scale, CFO bonus flexibility increases slightly, but cash incentives remain secondary to equity-based alignment.

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EQUITY & PROFIT PARTICIPATION

• 54% of CFOs at firms < $50M receive carry or profit/partner share

• 66% of CFOs at firms $50M–$150M receive carry or profit/partner share

• 81% of CFOs at firms > $150M receive carry or profit/partner share

Equity participation increases materially with scale, reflecting the CFO’s role in capital allocation, margin optimisation, working capital discipline, debt structuring, and exit preparation.

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KEY TAKEAWAYS

• CFO base salaries scale steadily with revenue, rising from a $225K median in sub-$50M manufacturers to $350K in firms exceeding $150M.

• Bonus structures are more flexible at scale, but remain capped for the majority of CFOs.

• Equity is the primary upside lever, particularly in larger manufacturing platforms where long-term value creation is paramount.

• Compensation dispersion widens significantly at scale, driven by differences in capital intensity, plant footprint, and M&A activity.

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Bottom Line

CFO compensation in PE-backed Manufacturing firms is disciplined, equity-led, and value-creation focused.
While cash compensation increases with scale, the most meaningful upside is consistently delivered through ownership participation tied to operational performance and exit outcomes.

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Looking to benchmark CFO compensation or hire a proven Manufacturing finance leader for your portfolio company?
Connect with jack.burns@raw-selection.com

Raw Selection | De-Risking Executive Search for Private Equity firms across Europe & North America

All insights in this salary report are derived from Raw Selection’s proprietary data.