Published fractional CFO retainers run $3,000 to $12,000 a month. For a company between $1M and $20M in revenue, $5,000 to $8,000 is the common band. The table below this guide shows the minimum fees the firms on this site publish; most of the rest quote after a call.
Retainers by company size
As a rough guide from published rates and the quotes buyers report:
- Under $2M in revenue: $2,000 to $4,000 a month, usually a monthly review of the numbers, a cash forecast and a call with the founder.
- $2M to $10M: $4,000 to $8,000 a month for a standing day or so a week, monthly reporting and the bank relationship.
- $10M to $50M: $7,000 to $15,000 a month, often with a controller or senior accountant from the same firm.
- PE-backed or multi-entity above $50M: $12,000 to $20,000 a month and up, close to the cost of a full-time hire.
What moves the price
Revenue is a proxy. The real drivers are complexity and hours. Each extra legal entity adds consolidation work. Inventory, foreign currency and revenue recognition under ASC 606 add more. Lenders with monthly covenant reporting and investors with quarterly board packs set deadlines that cannot slip. Industry matters too: healthcare billing, construction job costing and SaaS metrics each take specialist knowledge, and specialists charge for it. Finally, check whether bookkeeping is inside the fee. A bundled quote of $9,000 can be cheaper than a $6,000 CFO plus a $4,000 bookkeeper.
Hourly, day rates and projects
Fractional CFOs who bill by time charge roughly $175 to $400 an hour, or $1,500 to $3,000 a day. Fixed-fee projects are common for defined work: a three-statement model and fundraising deck support often runs $10,000 to $30,000, and an annual budget build $5,000 to $15,000. A quality of earnings report before a sale is a separate job for an accounting firm and is priced separately.
Equity and cash
At venture-backed startups some fractional CFOs take part of the fee in equity, typically 0.25% to 1% vesting over two to four years, in exchange for a lower cash retainer. Put it in a written advisor agreement with vesting, a cliff and a clear exercise window. Be careful with success fees on a raise: in the US, a fee tied to the amount of equity raised can require broker-dealer registration, so ask how the CFO handles it.
What the first month costs in time
The fee is not the only cost. Plan on 6 to 10 hours of the founder’s time in the first month: a kickoff, granting access to the bank, accounting system, payroll and CRM, answering questions about past transactions and reviewing the first forecast. If you have a bookkeeper, budget their time too. After month one, most CEOs spend an hour or two a week with their fractional CFO.
How to read a quote
Check six things. What is included: bookkeeping, payroll, tax filings, audit support. The hours or days behind the fee, and the rate when you go over. Who does the work: the CFO you met, or a junior accountant reviewed by them. The minimum term and notice period; three months with 30 days notice is common. What counts as out of scope, usually a fundraise, an acquisition or an audit. And which software costs you pay directly.