An electrical chief financial officer plans and protects an electrical contractor's cash. Builders pay by phase on their own terms, and homeowners pay when each job is done. The CFO plans around both, keeps lien rights and insurance in order, and runs the budget.
By the HireBus team · Updated · Pay data: BLS, May 2025
Median pay, electrical contractors · BLS, May 2025
Lead the financial strategy for our electrical home services division by managing the company’s financial health, forecasting, budgeting, and risk mitigation. Drive business growth through strategic financial planning and operational excellence. Collaborate with senior leadership to ensure financial stability and support long-term company objectives.
2. Essential Duties and Responsibilities
Oversee the development and implementation of financial strategies and policies to support business growth.
Manage comprehensive budgeting, forecasting, and financial reporting processes.
Conduct risk assessments and develop risk mitigation strategies to protect company assets.
Ensure compliance with financial regulations and industry standards while optimizing cash flow.
3. Key Tasks / Daily Activities
Monitor daily financial operations, including cash flow management and expense tracking.
Analyze financial data to provide actionable insights and forecasts for decision-making.
Collaborate with operational teams to align financial goals with business priorities and project needs.
Conduct regular reviews of internal controls and compliance measures to safeguard organizational assets.
Bachelor’s degree in Finance, Accounting, or Economics; Master’s degree preferred.
CPA or CFA certification is highly desirable.
Minimum 10+ years of experience in financial management within dynamic industries.
Proficient in financial forecasting, budgeting, and risk assessments.
Strong leadership, communication, and strategic planning abilities.
6. Preferred Experience
Previous experience in the home services or electrical industry.
Proven track record in financial planning, risk management, and operational oversight.
Experience collaborating with cross-functional teams in a fast-paced environment.
Familiarity with advanced financial management systems and ERP software.
7. Physical Requirements
Ability to work in a standard office environment.
Occasional lifting of small office equipment or files up to 15 lbs.
Extended periods of sitting and working at a computer.
Moderate walking around the office and through meeting spaces.
8. Work Environment and Schedule
Standard office hours with occasional extended hours during fiscal close periods.
Minimal travel for industry conferences and team meetings.
Occasional on-call duties during critical financial periods.
A collaborative setting that supports professional and personal growth.
9. Compensation and Benefits
Annual salary range: $150,000 - $200,000 USD based on experience.
Performance-based bonus structure.
Comprehensive Health, Dental, and Vision insurance packages.
401k plan and additional fringe benefits.
10. Company Culture and Overview
Dynamic, growth-oriented environment dedicated to excellence and innovation.
A culture that emphasizes employee development, teamwork, and continuous improvement.
Commitment to outstanding customer service and operational integrity.
Supportive leadership that values professional advancement and a balanced work/life environment.
11. How to Apply
If you meet the above criteria and want to be part of a growth-oriented company focused on customer satisfaction, please send your resume to [INSERT EMAIL HERE] or apply online at [INSERT WEBSITE LINK HERE].
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What makes electrical contractor finance different
Cash planning and reporting are the core of any CFO job. At an electrical contractor, builder pay terms, lien deadlines, costly stock and license insurance rules change the work.
Two kinds of customers pay two ways
Homeowners usually pay when a repair or upgrade is done. Builders pay by phase, after rough-in or trim-out, on their own schedule. Some builders run orders through online portals such as Hyphen's SupplyPro, which trades also use to handle lien releases. The CFO forecasts cash by customer type and tracks how long each builder really takes to pay. Source: Hyphen Solutions: SupplyPro for suppliers and trades.
Lien rights come with deadlines
On a remodel run by a general contractor, the company is a subcontractor. In California, a subcontractor has 20 days after starting work or delivering materials to give a preliminary notice. If the notice is late, the company loses lien rights for work done more than 20 days before it, the CSLB says. The CFO sets up a notice routine for each state the company works in. Source: Contractors State License Board: Homeowner's guide to preventing mechanics liens.
Quotes and stock tie up money
A standby generator or a new-home wiring package can sit as a quote for weeks, and material prices can change before the customer signs. Generators and panels on the shelf are cash the company can't use. The CFO decides how many days a quote holds, how price changes pass through to builders, and how much big-ticket stock to keep on hand.
Charger demand can shift with tax rules
The IRS says the federal credit for EV charging equipment covered chargers placed in service from January 1, 2023, to June 30, 2026. It also applied only in certain low-income or non-urban census tracts. A forecast shouldn't count on it now. The CFO watches which state and utility rebates still pay out, and tells sales before anyone promises one to a customer. Source: IRS: Alternative fuel vehicle refueling property credit.
Insurance is part of the license
In Texas, an electrical contractor must carry liability insurance at set minimums. It must also show proof of workers' comp, a certificate to self-insure, or a statement that it chose not to buy that coverage. Many builders want proof of insurance before crews start, too. The CFO keeps policies current, plans for renewals, and tracks claims that could raise rates. Source: Texas Department of Licensing and Regulation: Apply for a new electrical contractor license.
Residential vs. commercial electrical finance
Both jobs manage cash and report results. On commercial work, longer jobs and bid work change the numbers the CFO lives in.
Topic
Residential
Commercial
How work is won
Service calls, quotes in the home, and builder price lists
Competitive bids to general contractors and property owners
When money comes in
When a service job is done, or by phase on builder homes
Monthly pay applications over a job that runs for months
Money held back
Little or none on service work
Retainage is often kept until the job wraps up
Bonds
A license bond where the state asks for one
Payment and performance bonds on many jobs
Tracking profit
Per job, usually closed within days
Through a monthly work-in-progress report
How much electrical chief financial officers make
The closest BLS group for electrical chief financial officers is chief executives. Chief executives who work for electrical contractors earned a median of $172,410 a year ($82.89 an hour) in May 2025, according to the Bureau of Labor Statistics. That’s below the $213,990 median for chief executives in all industries. About 630 of the 204,350 chief executives in that survey work for electrical contractors.
Salaried, with a bonus each year based on profit, cash and budget results.
Electrical contractors
$172,410$172,410 median Middle half $118,510–$266,910 10th–90th $90,720–$403,030
All industries
$213,990$213,990 median Middle half $129,540–$356,200 10th–90th $75,700–$507,730
10th–90th percentileMiddle halfMedianAnnual pay, May 2025. Source: BLS Occupational Employment and Wage Statistics.
Annual pay by percentile
Group
10th
25th
Median
75th
90th
Electrical contractors
$90,720
$118,510
$172,410
$266,910
$403,030
All industries
$75,700
$129,540
$213,990
$356,200
$507,730
BLS reports residential and commercial electrical contractors together. Post a real range for your market in the ad.
The pay line in the template above is an example from our Role Blueprint. Set yours from these figures and what local companies pay.
Skills to hire for, and what you can teach
Hire for these
Has run finance for a construction or trade contractor
Keeps a rolling cash forecast up to date every week
Sets up job costing that separates service, remodels and new homes
Manages credit lines, vehicle loans and insurance renewals
Puts tight controls on billing, collections, payroll and vendor payments
Talks about results in plain terms with field managers
Teach these on the job
Your builder contracts, portals and pay terms
How lien notices work in each of your states
Pricing on generators, panels and EV chargers
What your field service software can report
How you pay commission and bonuses to electricians and salespeople
Expect an accounting system such as QuickBooks Online, Foundation or Sage Intacct, tied into the field service software that bills service jobs and the builder portals that handle new-home billing. Find out which of these each finalist has closed the books in, and how long their last month-end close took.
Start from your budget and the last few years of results when you set each target, and have your outside CPA sign off on how each one is calculated. The CFO reports on them to the CEO every month.
Revenue Growth Rate
Revenue measured against last year's same period, with growth from higher prices split from growth in job count. Check it against signed builder backlog to judge the next two quarters.
Budget Variance
Each month, compare what each department actually brought in and spent against its plan. Explain big misses in a sentence or two, and fix the forecast right away rather than at year-end.
Investment Return
For each big spend, such as new vans, a second shop, software or an acquisition, write down the expected gain before buying. A year later, compare the actual profit or savings with the cost.
Risk Mitigation
Define a risk incident first, such as an injury claim, a missed lien deadline, a bad-debt write-off or a vehicle accident. Count them each quarter against the year before, and note what changed.
Career path
Project accountantLearns job costing and billing at a contractor or construction accounting firm.
ControllerCloses the books each month and runs billing and payroll.
Chief financial officerRuns cash planning, credit, insurance and the numbers the owner sees.
At what point is a CFO worth it for an electrical contractor?
It depends on what's ahead. A controller and an outside CPA can handle the books and taxes for a steady business. Bring a CFO on full time when you're adding builders who pay slowly, borrowing for vans or a new shop, buying another contractor, or getting ready to sell. A part-time, fractional CFO can cover the gap until then.
How much does an electrical chief financial officer make?
Chief executives who work for electrical contractors earned a median of $172,410 a year ($82.89 an hour) in May 2025, according to the Bureau of Labor Statistics. The middle half earned between $118,510 and $266,910 a year. Pay also depends on your local market, experience and bonus terms.
What does an electrical CFO do that a controller doesn't?
A controller keeps the books accurate and closes each month on time. The CFO takes those books and plans ahead: cash, budgets, loans, insurance and pricing. For an electrical contractor, the CFO also sets credit terms for builders, how long quotes hold, and how much stock to carry. The bookkeeper records the daily entries both of them rely on.
Should an electrical CFO be a CPA or a CFA?
The template lists either one as highly desirable. The CFA Institute says its program teaches investment analysis. That helps most if you plan to buy other companies or answer to investors. For closing a contractor's books, job costing and audits, hands-on construction accounting matters more, with or without a CPA license.
What numbers should an electrical CFO watch each week?
Start with the bank balance and the rolling forecast. Then look at what each builder owes and how old each balance is, signed backlog by month, and open quotes for generators and upgrades. Add overtime hours and repeat trips, since both eat margin before the monthly books close.
What should an electrical CFO job ad include?
Describe the money side as it is today: yearly revenue range, how much comes from builders, who keeps the books, and what software they use. Then say what the CFO is for. That might be faster builder collections, getting ready for a new lender, or getting the company ready to sell.
