When Marcus started evaluating fractional CFO services for his $4M revenue SaaS company, proposals ranged from $4,500 to $18,000 per month. After three months with a mid-tier fractional CFO at $9,500/month, he closed a Series A round $3M higher than his initial target—an investment that paid for itself ~40×.
According to Robert Half’s 2025 Salary Guide, full-time CFOs at mid-sized companies earn $200,000–$350,000 in base salary. Fractional CFOs deliver similar strategic expertise at ~30–50% of that cost—if you choose the right model and scope.
At-a-Glance: Typical Pricing Ranges
| Model | Typical Range | Best For | Notes |
| Monthly Retainer | $5,000–$15,000+ | Ongoing leadership | Predictable budget; defined scope & hours |
| Hourly | $200–$400+ / hr | Projects / variable needs | Flexible; less predictable total cost |
| Project-Based | $15,000–$35,000+ | Fundraising prep, M&A, systems | Fixed fee; tight scope control |
| Hybrid / Equity | Reduced cash + 0.5–1.25% equity | Early-stage, cash-constrained | Aligns incentives; requires clear terms |
Monthly Retainer Tiers (What You Actually Get)
Entry ($5K–$7K / mo · ~10–15 hrs)
- Monthly close oversight & accuracy review
- 13-week cash flow forecasting
- KPI dashboard + variance analysis
- Strategic guidance on key decisions
Mid-Tier ($8K–$12K / mo · ~15–20 hrs)
- Everything above plus: 3-statement modeling, scenario planning
- Fundraising prep & investor materials; board reporting
- Due diligence coordination; proactive advisory
Premium ($13K–$15K+ / mo · 20–30+ hrs)
- Everything in mid-tier plus: M&A advisory (buy/sell)
- Org design & finance team hiring/management
- Advanced cohort/unit economics modeling
- Regular board participation & IR; systems selection/oversight
Hourly Rate Structures ($200–$400+ / hr)
- $200–$250/hr: newer fractional CFOs (5–10 yrs leadership)
- $300–$400+/hr: seasoned execs with deep industry wins (exits, raises)
Works well for: defined projects (investor model, diligence, FP&A implementation).
Trade-off: flexible but can expand from 30 → 50 hours if complexity emerges.
Hybrid & Equity Options (Startup-Friendly)
- Cash + Equity: e.g., $3,500/mo + 0.5% (standard 4-year vest, 1-year cliff)
- Equity-only (pre-revenue): 0.75–1.25% (rare; higher alignment risk)
- Deferred/Catch-Up: reduced cash now; accrued balance paid at funding
These work best when the relationship is truly long-term and well-documented.
What Drives Pricing (and Value)
1) Experience & Specialization
- Pattern recognition from 10–20 similar companies (e.g., SaaS Series A) commands a premium—and often returns it.
- Industry complexity matters: franchise ≠ e-commerce ≠ SaaS. Specialists often price 15–30% higher and deliver faster outcomes.
2) Scope & Time Commitment
Match scope to stage:
- Core financial management: close, cash, KPIs (8–12 hrs/mo)
- Strategic + fundraising: modeling, scenarios, investors (15–20 hrs/mo)
- Full partnership: M&A, org design, daily involvement (20–30+ hrs/mo)
3) Company Stage & Complexity
Complexity often outweights revenue:
- Multi-entity/location, international ops, complex revenue models
- Regulated industries (healthcare/financial services)
- Active M&A cycles
Choosing the Right Pricing Model
Monthly Retainer
Pros: Predictable budget; continuous involvement → proactive guidance
Cons: Less flexible if needs fluctuate; minimum terms common
Best for: Growth, fundraising readiness, multi-location complexity
Hourly
Pros: Pay only for used time; easy start/stop
Cons: Budget unpredictability; potential time-tracking friction
Best for: Short, defined initiatives
Project-Based (Fundraising & M&A)
Pros: Fixed fee, outcome-oriented; clear deliverables
Cons: Scope creep risk if not tightly defined; limited post-project support
Best for: Investor-ready financials, diligence, system rollouts
Fractional vs. Full-Time CFO: The Real Math
- Full-time CFO (all-in year one): base $200K–$400K + bonus/equity + benefits + recruiting → often $350K+ total.
- Fractional CFO: $120K/yr at $10K/mo (or $180K/yr at $15K/mo)—a 65%+ reduction with appropriately scoped leadership.
Rule of thumb: If fractional spend > 5% of revenue, it may be time to consider full-time.
Hidden Costs to Watch
- Tech stack changes: tool migrations (e.g., QBO → NetSuite) can add $10K–$30K year one
- Onboarding ramp (30–60 days): ROI usually shows months 3–4
- Scope creep & change orders: prevent with explicit SOWs (what’s in/out, pricing for add-ons)
Price-Point Benchmarks (Sanity Check)
- $5K–$7K/mo: close, cash, KPIs, variance review, strategic guardrails
- $8K–$12K/mo: 3-statement modeling, scenarios, fundraising, board, diligence
- $13K–$15K+/mo: M&A, org build, advanced analytics, IR, daily access
Startups: Smart Structures
- Reduced cash + equity (e.g., $5K/mo + 0.5%)
- Milestone step-ups (e.g., $6K → $10K post-Series A)
- Deferred components (cap accruals; pay from raise)
- Fundraising project packages ($20K–$35K)
Document everything clearly to align expectations.
How to Evaluate Proposals (and Spot Red Flags)
Low-Price Red Flags
- Vague scope; generic deliverables
- Limited stage/industry references
- Cookie-cutter plans; no systems integration plan
High-Price Red Flags
- Premiums without matching track record
- Long lock-ins; excessive add-on fees
- Overly complex proposals that obscure cost
8 Questions to Ask
- What’s included vs. out-of-scope in the monthly fee?
- How many clients do you serve—and how do you manage capacity?
- References at our stage and in our industry?
- What tools do you require—and what do they cost?
- How flexible are hours as our needs change?
- Typical ramp timeline to visible strategic value?
- How do you support transition to a future full-time CFO?
- What if we’re not satisfied after 60 days?
ROI: Where the Payoff Usually Comes From
- Cash flow optimization: e.g., vendor terms + collections → $22K/mo saved (≈ $264K/yr)
- Fundraising uplift: valuation delta vs. initial target can dwarf fees
- Mistakes avoided: shelving weak-market expansion saved $180K
- M&A value capture: working capital adjustments worth $320K
- Pricing/margin gains: +4pp gross margin at $5M revenue → $200K/yr
Most teams see positive ROI in 3–6 months when focus stays on high-leverage moves.
What’s Negotiable (Usually… Almost Everything)
- Rates: 10–20% discounts for prepay/annual commitments or referrals
- Scope clarity: tighten definitions to prevent surprise fees
- Trial periods: 60–90 days at a slightly higher rate, no long lock-ins
- Equity mix: especially for strong-potential startups
- Payment terms: quarterly prepay for small discounts (5–7%)
Goal: structure deals where both sides win as you grow.
Getting Started
Fractional CFO pricing varies—value does not. Match experience and scope to your stage, use the right model for your needs, and measure ROI ruthlessly.
Considering a fractional CFO? Exact Partners offers flexible, transparent engagements for startups, franchises, and scaling SMBs—backed by clear scopes and a track record in fundraising, M&A, and profitable growth.
Schedule a consultation to get a tailored proposal. Visit getexact.com or call (716) 249-6434.
