A commercial HVAC chief financial officer keeps the money straight on long projects and service contracts: bids, job costs, progress billing, retainage, bonds and cash. The CFO tells the CEO which jobs make money and which are slipping. The CFO also says how much new work the company can safely take on.
By the HireBus team · Updated · Pay data: BLS, May 2025
Median pay, HVAC and plumbing contractors · BLS, May 2025
Lead the financial strategy for our Commercial HVAC division while ensuring robust financial planning, budgeting, and risk management for large-scale projects. Drive profitability and operational efficiency through effective financial analysis and reporting. Collaborate closely with senior leadership to align financial practices with company goals and market dynamics. Serve as a key strategic advisor on investments, cost management, and growth initiatives.
2. Essential Duties and Responsibilities
Develop and implement comprehensive financial plans and budgets to support large HVAC projects.
Oversee risk management strategies, ensuring compliance with industry regulations and company policies.
Monitor financial performance through detailed analysis and reporting to senior management.
Collaborate with project managers to optimize cost-efficiency and maximize profitability.
Maintain strong relationships with external partners, financial institutions, and regulatory bodies.
3. Key Tasks / Daily Activities
Review and analyze financial statements and reports related to HVAC project performance.
Conduct regular forecasting and variance analysis to support decision-making.
Work closely with project teams to review cost implications and funding requirements.
Liaise with auditors and regulatory agencies to ensure financial compliance.
Present detailed financial insights and strategic recommendations at executive meetings.
4. Key Performance Indicators (KPIs)
Project Budget Variance: Maintain variance within 3% of approved budgets.
Gross Margin Improvement: Achieve a 10% year-over-year increase in gross margin.
Net Profit Growth: Increase net profit margins by at least 12% annually.
Return on Investment (ROI): Secure a minimum ROI of 15% for major HVAC projects.
5. Required Qualifications and Skills
Bachelor’s degree in Finance, Accounting, or a related field; MBA or CPA preferred.
Minimum of 10 years of progressive financial management experience, ideally within the home services or HVAC industry.
Strong analytical, leadership, and strategic planning skills.
Excellent communication and interpersonal abilities for cross-functional collaboration.
Proven proficiency in financial software and reporting tools.
6. Preferred Experience
Experience in Commercial HVAC or related home services industries.
Prior leadership role overseeing large-scale projects and budgets.
Background in risk management and regulatory compliance in a technical industry.
Track record in implementing process improvements and cost-control measures.
7. Physical Requirements
Primarily office-based role with the ability to work in a standard corporate environment.
Occasional site visits may require moderate walking and standing.
Ability to handle standard office equipment and technology.
Minimal lifting requirements (under 20 pounds) for document handling and equipment setup.
8. Work Environment and Schedule
Standard business hours, typically 40 hours per week.
Occasional extended hours during critical financial periods or project deadlines.
Some travel required for site visits, conferences, and meetings with stakeholders.
Office setting complemented by opportunities for remote work as needed.
9. Compensation and Benefits
Base Salary: $150,000 - $200,000 per year, commensurate with experience.
Performance Bonuses and Incentive Programs based on meeting financial and project milestones.
Comprehensive benefits package including Health, Dental, and Vision insurance.
401(k) plan with company match and additional fringe benefits.
10. Company Culture and Overview
At [INSERT COMPANY NAME HERE], we foster a collaborative and empowering environment where innovation and personal growth are not only encouraged but expected.
We pride ourselves on our commitment to quality, continuous improvement, and customer satisfaction across all facets of our operations.
Our culture is defined by transparency, integrity, and a shared drive for excellence, ensuring every team member feels valued and empowered to succeed.
We are excited to welcome a strategic thinker who is ready to contribute to our legacy of excellence in the Commercial HVAC industry.
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
Cash, budgets and reports look alike in any industry. Commercial HVAC adds long projects, billing through general contractors, surety bonds, and prices that can move after a bid is signed.
Big projects eat cash before they pay
On a large job, the company buys equipment and pays crews long before the money comes in. It bills monthly, waits on the general contractor, and often has part of each payment held back as retainage until the end. Some states limit retainage by law. Minnesota, for one, caps it on private jobs and requires the owner to release it within 60 days after substantial completion. The CFO checks that the bank line can carry each big job. Source: Minnesota Statutes 337.10: Progress payments and retainages.
Profit follows the work, not the invoice
Billing on a long job rarely matches the work done that month. The CFO keeps a work-in-progress schedule that compares each job's billings with its costs and how far along it is. That way overbilling doesn't look like profit and underbilling doesn't hide a loss. Project managers update their cost to finish each month to feed it.
Prices can move after the bid
Commercial bids are often priced months before the equipment is bought. If a rooftop unit or chiller goes up in price, or ships late, the margin shrinks. The CFO decides how long quotes stay good, pushes for price-change terms in contracts where the client will accept them, and judges when buying early and storing equipment makes sense.
The surety decides how big you can bid
Many public and private contracts require surety bonds, such as bid, performance and payment bonds. A surety backs a contractor that meets its tests for credit, capacity and character. The CFO hands over what the surety reviews: year-end statements, the work-in-progress schedule and the bank line. Keeping the surety posted all year means bonding is ready when a big bid comes up. Source: U.S. Small Business Administration: Surety bonds.
Service agreements need their own math
A service agreement is priced months ahead for a set number of visits, filters, belts and coil cleanings. The CFO tracks each agreement's actual labor and parts cost against its price, plus the repair work it brings in. Renewals then go out at prices that cover the work. Agreements that lose money every year get repriced or dropped.
How much commercial HVAC chief financial officers make
The closest BLS group for commercial HVAC chief financial officers is chief executives. Chief executives who work for plumbing, heating, and air-conditioning contractors earned a median of $174,130 a year ($83.72 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 760 of the 204,350 chief executives in that survey work for HVAC and plumbing contractors.
Salary, with a bonus linked to financial and project goals, such as margins, cash and how close major jobs land to budget.
HVAC and plumbing contractors
$174,130$174,130 median Middle half $93,740–$271,790 10th–90th $70,780–$421,320
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
HVAC and plumbing contractors
$70,780
$93,740
$174,130
$271,790
$421,320
All industries
$75,700
$129,540
$213,990
$356,200
$507,730
BLS reports HVAC and plumbing contractors together, residential and commercial. 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 construction accounting: job costing, pay applications, retainage and the work-in-progress schedule
Builds a cash forecast that allows for slow payers and held retainage
Has worked with sureties and banks on bonding and credit lines
Reviews large bids for margin and risk ahead of submission
Closes each month on schedule and can walk the owner through the numbers
Teach these on the job
How your service agreements are priced and renewed
Your supplier terms and how long equipment quotes hold
Your estimating process and cost codes
Your insurance and bonding history
How your accounting and service software connect
Construction accounting software such as Sage 300 CRE, Viewpoint Vista, Foundation or Sage Intacct Construction holds job costs, pay applications, retainage and certified payroll. Candidates will want to know which one you use, how it links to the service side, and who builds the work-in-progress schedule now.
Use the template's targets to start the conversation, then set each one from your budget, your bid history and what your surety and bank expect. Report them monthly.
Project Budget Variance
For each major job, compare costs to date with the estimate for the same stage of work, by cost code. Go over it in monthly job reviews with project managers, and explain large gaps in writing.
Gross Margin Improvement
This year's gross margin compared with last year's, split into service agreements, time-and-material repairs and projects. Compare each project's closing margin with its bid margin to see whether estimating or the field is losing money.
Net Profit Growth
Net profit as a share of revenue, from the reviewed or audited year-end statements and from monthly closes in between. Agree with the owner whether the target means growth in dollars or in margin.
Return on Investment (ROI)
For each major project, divide the profit at closeout by the cash the company had tied up in it, including retainage and unbilled work. Settle the method with the CEO before bids go out.
Career path
Project accountant or construction auditorLearns job costing, pay applications and the work-in-progress schedule.
ControllerCloses the books, runs payroll and keeps job reports current.
Chief financial officerOwns cash, bonding, bank lines and project profit for the company.
Finance for a company that lives on bids and contracts. The CFO checks the margin on each large bid before it is submitted, holds monthly job reviews with project managers, keeps the work-in-progress schedule, and keeps the bank and surety informed. Insurance, payment terms in contracts and the monthly close fall to the CFO too.
How much does a commercial HVAC chief financial officer make?
Chief executives who work for plumbing, heating, and air-conditioning contractors earned a median of $174,130 a year ($83.72 an hour) in May 2025, according to the Bureau of Labor Statistics. The middle half earned between $93,740 and $271,790 a year. Pay also depends on your local market, experience and bonus terms.
What does the CFO check before a commercial HVAC company bids a large project?
Before a big bid, the CFO checks whether the surety will bond it, whether the bank line can carry the cash gap, how the job's size compares with the rest of the backlog, and whether the bid margin makes sense next to past jobs of the same kind. The CEO makes the call. The CFO should be able to say no to a job the company can't afford to win.
Is a CPA required for a commercial HVAC CFO?
No. The template prefers an MBA or CPA, and a CPA helps when you face audits, reviews or a sale. Construction accounting matters more: job costing by cost code, pay applications, retainage, change orders and the work-in-progress schedule. Those take a long time to learn on the job. A candidate from residential service may know agreements well but find progress billing and bonds new.
What sets a commercial HVAC CFO apart from a residential one?
A residential CFO plans around seasonal cash, maintenance plan payments and consumer financing. A commercial CFO plans around long projects, slow pay through general contractors, retainage, bonds, and weekly certified payroll on federally funded construction. Contracts are bigger, so a single pricing mistake costs more. That is why a commercial CFO spends more time on bids.
Controller or CFO: which one does a commercial HVAC contractor need?
A controller makes sure each month's numbers are correct and on time. You need a CFO when the questions move ahead of the books. How much bonding can we get? Should we bid this large project? How do we fund equipment for a big job? Is the bank line big enough to carry retainage and slow payers? Some companies start with a fractional CFO.
