Elevator company chief financial officer job description
An elevator company chief financial officer manages money that comes in on a schedule: bills for maintenance contracts and milestone payments on modernizations. The CFO prices renewals to cover rising labor and parts, keeps insurance and taxes in order, and shows the CEO which contracts lose money.
By the HireBus team · Updated · Pay data: BLS, May 2025
Median pay, other building equipment contractors · BLS, May 2025
Responsible for overseeing the financial health of the elevator maintenance division and ensuring sustainable growth through rigorous budget management, cost control, and profitability analysis.
2. Essential Duties and Responsibilities
Develop and implement financial strategies that align with the company’s long-term goals.
Oversee budgeting, forecasting, and financial planning for all operational activities in the elevator maintenance division.
Monitor cost controls and financial performance to maximize profitability and operational efficiency.
Collaborate with other executive team members to support strategic initiatives and business development.
3. Key Tasks / Daily Activities
Review and analyze financial statements and operational performance metrics on a daily basis.
Communicate with department heads to ensure financial alignment with service delivery and customer satisfaction initiatives.
Manage daily financial operations including cash flow management, expense tracking, and invoice approvals.
Engage in periodic financial reviews and cost-benefit analyses to inform decision-making processes.
4. Key Performance Indicators (KPIs)
Gross Margin Improvement: Increase by 5% annually.
Cost Control Efficiency: Achieve operational cost reductions of 8% year-over-year.
Budget Variance: Maintain budget variances within 3% of projected figures.
Profitability Analysis: Ensure net profit margins exceed 10% in elevator maintenance operations.
5. Required Qualifications and Skills
Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
A minimum of 10 years of progressive financial management experience with at least 5 in a senior strategic role.
Demonstrated expertise in budget management, cost control, and profitability analysis.
Excellent communication, leadership, and strategic planning capabilities.
6. Preferred Experience
Previous experience in the home services or elevator maintenance industry.
Proven track record of working within a complex operational framework and driving financial performance improvements.
Experience using financial management software and ERP systems.
Familiarity with regulatory requirements and compliance standards within the home services sector.
7. Physical Requirements
Ability to work in a typical office environment with extended periods of sitting.
Occasional travel to operational sites may be required.
Capability to carry lightweight documents/equipment up to 10 lbs.
Adaptability to work in varied office settings and occasional site visits.
8. Work Environment and Schedule
Typical work hours are Monday through Friday during standard business hours.
Occasional extended hours during high-demand periods or end-of-quarter closings.
Limited travel required for onsite financial evaluations and strategic meetings.
Minimal on-call duties, with occasional participation in emergency financial reviews.
9. Compensation and Benefits
Competitive salary range from $150,000 to $200,000 USD per year.
Performance-based bonuses tied to achieving financial KPIs.
Comprehensive Health, Dental, and Vision insurance coverage.
401(k) retirement plan with company match and other fringe benefits.
10. Company Culture and Overview
We foster a culture of innovation, collaboration, and excellence where every team member's contribution is valued.
Our commitment to employee growth, diversity, and inclusion drives our success and industry leadership.
We are passionate about delivering exceptional service and building long-term relationships with both customers and employees.
Our supportive environment encourages continuous learning, creative problem solving, and professional development.
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].
Need help filling this role? HireBus posts the ad, Iris interviews every applicant by phone before you do, and you decide who to hire. Start hiring now
Most of an elevator contractor's revenue is promised years ahead in maintenance contracts, at prices set before the next wage increase or the next worn-out machine. The CFO's job is to make those promises pay.
Paid ahead, earned over the year
When contracts bill a quarter or a year ahead, cash arrives before the work. For federal tax, an accrual-method company can elect to push the unearned part of an advance payment into the next tax year, but no further. So even a contract paid three years up front is fully taxed in the tax year after the money arrives. Keep a schedule of unearned revenue by contract, and settle the election with your tax preparer. Source: eCFR: 26 CFR 1.451-8, advance payments for goods and services.
Federal contracts reset wages each year
Federal service contracts to maintain equipment generally fall under the Service Contract Act. On a multiyear or option contract with FAR clause 52.222-43, the wage determination in force on each anniversary or option start applies. The price can rise to cover the raises and fringes that determination requires, plus the payroll taxes and workers' comp tied to them. It can't include overhead, profit or raises you chose to give. Claim the increase within 30 days of getting the new determination, unless the contracting officer extends that in writing. Source: eCFR: FAR 52.222-43, Service Contract Labor Standards price adjustment.
Full maintenance carries the parts risk
A full maintenance contract can put most repair parts on you, from door operators to controller boards. A narrower contract, such as oil and grease only, bills most repairs to the owner. The CFO compares what each unit costs in labor and parts with what the owner pays, sorted by contract type and equipment age, and flags full maintenance units whose parts spending climbs year after year.
Labor costs climb during long contracts
Mechanic wages often step up on a set schedule, under a union agreement or your own pay plan, while a maintenance contract can lock its price for years. The CFO writes a yearly price change into each contract, tied to the labor agreement or a named index where the owner accepts that. Any contract whose price stood still while labor rose goes on the list for the next renewal talk.
Insurance keeps the license alive
Missouri asks a licensed elevator contractor to show general liability, personal injury and property damage coverage. The floors are 1 million dollars per occurrence for injury or death and 500,000 dollars for property damage, plus workers' comp as state law requires. Letting that coverage lapse is grounds for discipline. The CFO tracks every renewal date and sends proof before the state or a customer asks. Source: Example state: Missouri Code of State Regulations, 11 CSR 40-5 (elevators).
How much elevator company chief financial officers make
The closest BLS group for elevator company chief financial officers is chief executives. Chief executives who work for other building equipment contractors earned a median of $157,100 a year ($75.53 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 100 of the 204,350 chief executives in that survey work for other building equipment contractors.
Salaried, with bonuses earned by hitting the finance KPIs in this blueprint. At these firms, BLS puts the chief executive median close to the range's floor.
Other building equipment contractors
$157,100$157,100 median Middle half $81,360–$177,770 10th–90th $68,550–$253,000
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
Other building equipment contractors
$68,550
$81,360
$157,100
$177,770
$253,000
All industries
$75,700
$129,540
$213,990
$356,200
$507,730
BLS doesn’t publish pay for elevator contractors on their own. These figures cover other building equipment contractors, which include them. 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 led finance where most revenue came from recurring service contracts
Builds an unearned revenue schedule and explains it to a lender
Prices a contract renewal from a unit's real labor, parts and callbacks
Has managed insurance renewals, certificates and claims for a field workforce
Has billed public agencies and kept up with their payment and wage rules
Teach these on the job
Elevator equipment names and the parts that wear out
Your contract types and the exclusions in each
Benefit fund reports, if your mechanics are union
Company license and tax filings for every state on your routes
Your field service and accounting systems
Expect an accounting system that bills recurring contracts, tracks unearned revenue and job-costs modernizations, fed by the field service software that logs hours and parts to each unit. A CFO who can pull margin by building, not only by month, finds the losing contracts first.
Elevator company chief financial officer interview questions
Two of the 6 questions we'd ask, and what a strong answer sounds like. Ask every candidate the same questions, and rate each answer on your own before you compare notes.
Situational · Absorbing labor cost increases
Mechanic wages and benefits rise mid-year, but most contracts adjust prices only on their anniversary. What do you do?
A strong answer: Models the gap by contract, reviews escalation clauses, plans repricing at renewals, updates repair and modernization pricing, and shows leadership the cash impact.
Behavioral · Cutting overtime without hurting response
Tell me about a time you cut overtime or after-hours callback costs without hurting response times.
A strong answer: Found what drove overtime, such as repeat callbacks or poor on-call routing, fixed causes with operations, and tracked response times and callbacks alongside the savings.
Use last year's closed months to set each target, and agree in writing how each one is counted before any bonus is paid on it.
Gross Margin Improvement
Gross margin against last year's, shown separately for maintenance contracts, billable repairs and modernizations. Count callback labor and the parts you supplied under full maintenance as costs of the contract they served.
Cost Control Efficiency
Record each saving, what the cost was and what it is now, such as fewer callbacks, less overtime on night calls or better parts pricing. Leave out any saving that came from skipped maintenance visits.
Budget Variance
Each month, compare every department, and every open modernization, with its budget. Explain any gap past the agreed limit in writing, and say whether price, volume or timing caused it.
Profitability Analysis
Net profit for maintenance operations, with each contract's margin ranked from best to worst. Bring the bottom of that list to every renewal and pricing meeting.
Career path
BookkeeperBills contracts, posts payments and learns which buildings pay late.
ControllerCloses each month and tracks margin contract by contract.
Chief financial officerPrices renewals, guards cash and keeps the license insurance in force.
Which numbers should an elevator company CFO report each month?
The contract count at month end, with gains and losses. Maintenance revenue billed and earned, and the unearned balance. Margin by contract type, callback cost and overtime. The modernization backlog and its margin. Money owed by each property management firm. Keep the same layout every month so the CEO and board can see a trend.
How much does an elevator company chief financial officer make?
Chief executives who work for other building equipment contractors earned a median of $157,100 a year ($75.53 an hour) in May 2025, according to the Bureau of Labor Statistics. The middle half earned between $81,360 and $177,770 a year. Pay also depends on your local market, experience and bonus terms.
How should an elevator company price a contract on old equipment?
Start from what the unit really costs: hours per visit, last year's callbacks and the parts already replaced. Ask the field supervisor which parts are near the end of their life. Then choose a higher price, a narrower contract, or full maintenance with named exclusions. Tell the owner which modernization would bring the price down.
Is elevator experience a must for an elevator company CFO?
The template counts home services or elevator work in a candidate's favor but doesn't demand it. A record with recurring contracts and project job costing matters more. To test it, hand finalists one of your full maintenance contracts and a year of labor and parts costs for that unit. Ask whether it should renew at the same price, and why.
When should the CFO weigh in on a modernization bid?
Before it goes out. The CFO checks the deposit the equipment supplier wants, the payment milestones, and how long the car will be down before the last payment. The CFO also checks whether a public owner brings wage rules. A modernization that looks good on margin can still tie up cash for months.
What does the CFO template's physical section mean in practice?
Mostly desk work: long stretches at a computer for the close, forecasts and renewal pricing. Now and then the CFO carries a laptop or a box of files to a bank meeting or a branch office, and walks a machine room with the operations team. Describe those tasks in the post and name who handles accommodation requests.
