General contractor chief financial officer job description
A general contractor's chief financial officer keeps cash, job costs and risk in line while money moves through homeowners, lenders and dozens of subs. They set billing rules for fixed-price and cost-plus jobs, keep subs paid and insured, and tell the CEO what each new home or addition really earns.
By the HireBus team · Updated · Pay data: BLS, May 2025
Median pay, residential builders and remodelers · BLS, May 2025
The Chief Financial Officer (CFO) plays a pivotal role in shaping the financial strategy and operations of our home services business. In addition to overseeing financial planning, budgeting, and risk management, this role collaborates closely with the general contracting team to ensure that all projects are executed within budget and operational standards. The CFO will contribute to strategic decision-making, drive efficiencies, and uphold robust financial controls across the organization.
2. Essential Duties and Responsibilities
Oversee financial planning, budget management, and comprehensive risk control procedures.
Lead the development of financial policies and strategies that support the company's long-term growth.
Provide accurate and timely financial reports and forecasts to executive leadership.
Collaborate with the general contracting team to integrate financial insights into project planning and execution.
Ensure compliance with regulatory standards and internal financial controls.
3. Key Tasks / Daily Activities
Review daily financial statements, budgets, and cash flow analyses.
Meet with department heads and project managers to discuss budget performance and project financials.
Monitor and analyze key financial metrics and identify areas for cost savings.
Communicate regularly with external auditors, banks, and regulatory bodies.
Implement and update financial systems to streamline budget tracking and reporting.
4. Key Performance Indicators (KPIs)
Budget variance maintained within 3% of forecasted figures.
Achieve a minimum gross margin of 25% on all projects.
Bachelor’s degree in Finance, Accounting, or a related field; MBA or CPA preferred.
Minimum of 7 years of financial management experience, preferably in a home services or construction environment.
Excellent analytical, quantitative, and problem-solving skills.
Strong communication and leadership abilities with a collaborative mindset.
6. Preferred Experience
Experience working within the general contracting or construction industry.
Prior involvement in strategic financial planning for project-based operations.
Proven track record of integrating financial management with operational performance.
Familiarity with construction/project management software and tools.
7. Physical Requirements
Ability to work in an office environment with prolonged periods of desk work.
Occasional site visits may require mobility across construction or project locations.
Minimal heavy lifting; typical office and site safety protocols apply.
8. Work Environment and Schedule
Typical work hours: Monday through Friday, 8:00 AM to 5:00 PM.
Occasional extended hours based on project deadlines and financial reporting cycles.
Limited travel required for meetings, audits, or site visits.
May involve on-call duties during financial close periods or critical project stages.
9. Compensation and Benefits
Salary range: $125,000 - $175,000 USD per year, commensurate with experience.
Eligibility for performance-based bonuses and profit-sharing.
Comprehensive health, dental, and vision insurance coverage.
401(k) plan with employer match and additional fringe benefits.
10. Company Culture and Overview
At [INSERT COMPANY NAME HERE], we pride ourselves on fostering a culture of continuous growth, innovation, and integrity. We value collaboration and encourage our employees to take ownership of their work, providing them with the resources and support they need to excel. Our dynamic team spirit and commitment to excellence have positioned us as a leader in the home services industry, and we are dedicated to empowering every team member to reach their full potential.
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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A general contractor collects from homeowners and their lenders and pays out to dozens of subs and suppliers. Most of that money only passes through, so small gaps in the paperwork become large gaps in cash.
Some Colorado cities collect tax at the permit
Colorado lets cities with a home-rule charter collect their own sales and use taxes under their own rules. Boulder, for example, collects construction use tax as part of getting a building permit. When that tax is prepaid on an estimate, crews show the permit at the supply house and skip city and county sales tax. Sales tax paid at the counter anyway can't be credited later. Jobs with a final price of 75,000 dollars or more also need a true-up return within 90 days of the certificate of occupancy. Source: City of Boulder, Colorado (example): construction use tax.
A sub's missing coverage can land on you
In Connecticut, for example, when a sub's worker is hurt doing work that is part of your business, on a site you control, you can owe workers' comp as if you were the employer. A sub with no coverage leaves you holding the claim. The CFO's team keeps a current insurance certificate for every sub, tracks the end dates, and holds payment when a policy lapses. Ask your carrier how its yearly audit treats subs with no proof of coverage. Source: Connecticut General Statutes 31-291 (example): principal employer, contractor and subcontractor.
Unpaid subs can reach the homeowner's house
Connecticut gives an unpaid sub or supplier 90 days from its last day of work or delivery to record a lien on the house. All liens together are capped at the contract price, and the homeowner gets credit only for good-faith payments made to you before notice of a lien. One unpaid sub can stall a draw. Pay subs from each draw and get a lien waiver with every payment. File the contractor's affidavit with the town clerk within 15 days of starting, so subs must notify you too. Source: Connecticut General Statutes 49-34 to 49-36 (example): mechanic's liens, notices and limits.
Cost-plus jobs run on open books
On a cost-plus home or remodel, the client pays actual cost plus a fee, and the contract usually lets them check the receipts. The CFO decides in advance what counts as cost: crew hours at a set burdened rate, sub bills as invoiced, and whether supplier rebates go to the client. Each bill goes out with its backup attached. Loose rules here turn into an argument at closeout, when the client adds up the year.
Residential vs. commercial general contractor finance
Both run on job costing and subcontractors. Who pays, and how, changes most of the CFO's month.
Topic
Residential
Commercial
Who signs the contract
Homeowners, sometimes with a construction or renovation lender behind them
Building owners, developers and tenants, usually through their lenders
How bills go out
A deposit and payments at set stages, or monthly cost-plus bills
Monthly pay applications measured against a schedule of values
Money held back
Little; the last payment waits on the punch list and final inspection
Retainage held on each bill until closeout
Bonds
Rare on private homes
Performance and payment bonds are common, especially on public jobs
Biggest cash risk
A homeowner who stops paying, or a fixed price on an old house
Slow owners and retainage that sits for months
How much general contractor chief financial officers make
The closest BLS group for general contractor chief financial officers is chief executives. Chief executives who work for residential builders and remodelers earned a median of $213,510 a year ($102.65 an hour) in May 2025, according to the Bureau of Labor Statistics. That’s about the same as the $213,990 median for chief executives in all industries. About 520 of the 204,350 chief executives in that survey work for residential builders and remodelers.
The template adds performance bonuses and profit sharing to the CFO's salary. At a builder, make some of the bonus depend on a work-in-progress (WIP) report the bank accepts without questions, sub files with no lapsed insurance, and cash that covers the slow months.
Residential builders and remodelers
$213,510$213,510 median Middle half $157,070–$315,530 10th–90th $91,200–$392,560
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
Residential builders and remodelers
$91,200
$157,070
$213,510
$315,530
$392,560
All industries
$75,700
$129,540
$213,990
$356,200
$507,730
BLS doesn’t publish pay for general contractors on their own. These figures cover residential building construction, 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 the finance side of a home builder, remodeler or other contractor that tracks costs by job
Builds a monthly work-in-progress schedule and explains over- and under-billing to a lender
Sets billing rules for staged, fixed-price and cost-plus contracts
Keeps sub insurance, lien waivers and sub payments in step
Turns project managers' cost-to-complete numbers into a cash forecast
Teach these on the job
Local sales and use tax rules in each town you build in
Lien deadlines and contract law where you build
Your insurance carrier's audit steps
Your cost codes and estimate format
Your bank's covenant reports
Construction accounting that tracks costs by job and cost code, such as QuickBooks with job costing, Sage 100 Contractor or Foundation, tied to the project management system where change orders and draws start. The CFO also owns the sub insurance tracker and the lien waiver log.
General contractor 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 · Matching payments to costs
Client progress payments are running behind what you owe subs and suppliers. What do you do?
A strong answer: Sets draw schedules ahead of costs, enforces payment terms, follows state rules on deposits, and plans the credit line.
Behavioral · Building job profit reporting
Tell me about a report you built that showed PMs which remodels were fading in margin while there was still time to act.
A strong answer: Names the report, such as a weekly cost-to-complete by job, what decisions it changed, and how they kept it simple enough for PMs to use.
Treat the template's percentages as a first draft. Reset them from the jobs you've closed over the past few years, then hold the CFO to the ones your bank watches too.
Budget variance maintained within 3% of forecasted figures
Each month's actual revenue, job costs and overhead against the forecast the CEO approved, with a short written reason for any line that missed by more than your tolerance.
Achieve a minimum gross margin of 25% on all projects
Margin on every closed job, listed lowest to highest rather than averaged, so the jobs that dragged the total down get a review with their project manager.
Net profit growth of at least 10% year-over-year
Net profit after overhead and owner pay this year against last year, adjusted for one-time items such as a legal settlement or the sale of a truck.
What should project managers send the CFO each month?
An estimate of what's left to spend on each open job: costs so far, what's committed to subs and suppliers, and what's still to buy, plus any change waiting for the homeowner's signature. Those numbers feed both the monthly WIP report and the cash forecast. A project manager who says a job is on budget without numbers is guessing, so make it a form with a fixed due date.
How much does a general contractor chief financial officer make?
Chief executives who work for residential builders and remodelers earned a median of $213,510 a year ($102.65 an hour) in May 2025, according to the Bureau of Labor Statistics. The middle half earned between $157,070 and $315,530 a year. Pay also depends on your local market, experience and bonus terms.
What can a general contractor do when a homeowner stops paying?
Call a construction lawyer early, because the deadlines are short. Connecticut's clock is typical: a contractor's own lien certificate has to be lodged with the town clerk within 90 days after it stops work, then served on the owner within 30 days of that. Before that first call, pull the signed contract, every signed change, the billing records and your site photos.
What does the bank want from a general contractor's CFO?
Usually a WIP report along with the financial statements: each open job's price, costs to date, expected profit, and whether billing is ahead of the work done or behind it. Billing ahead brings in cash but leaves work you still owe. Billing behind means the company is funding the homeowner. Explain big swings before the lender asks about them.
Why does a builder's CFO template mention site visits and lifting?
Most of a builder's CFO's week is at a desk, but the numbers are easier to trust after a look at the job. Typical visits: walking an addition with the project manager before a large draw to see what's really done, checking that cabinets or lumber billed to a client are on site, and carrying a laptop and a plan set. Put that in the posting, along with a note that the company will look at reasonable accommodation.
