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Town posts CFO position

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Following the resignation of Chief Financial Officer Tim O’Leary, the Town of Hopkinton has posted an open position for his replacement.

In part, the job post reads:

Under the direction of the Town Manager, this position executes all of the financial planning, analysis and practices for the Town. This role ensures accuracy, accountability, and efficiency of all municipal and departmental finance reports and is responsible for maintaining and improving upon the efficiency and effectiveness of all areas under their direction and control. Building, leading and directing the finance team is a key focus of this position.The Chief Financial Officer acts as an ex-officio member to the Appropriations Committee per the Town Charter and interacts with the Town Manager on a frequent basis on all budgeting and financial matters.

The position requires a Bachelor’s Degree in Finance or a related field and a Master’s Degree in Financial Management is preferred. The position pays between $112,278 – $157,185.

Last week, HopNews reported on the recent exodus of town employees, which in part may be due to uncompetitive wages. According to Salary.com, the median salary for a CFO in the Boston area is $481,009 as of May 1, 2023, with the range between $364,414 and $618,078.

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  1. I’m wondering how the salary of a municipal CFO compares to that of a CFO in the private sector. I don’t think that comparing a Hopkinton Town position’s salary range to “CFO in the Boston area” paints an accurate picture of how competitive our town’s salaries are. We all know that compensation in the private sector tends to be much higher than in local governments.


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