A fractional CFO is a senior, qualified finance leader who provides CFO-level strategic leadership part-time, usually one to three days a week on an ongoing retainer. The model suits businesses that need board-level finance and investor-facing capability but cannot yet justify a full-time CFO on a base salary of around £130,000–£215,000. Done well, a two-day fractional CFO delivers most of the strategic and investor-facing value of a full-time CFO for roughly half the all-in cost.
This guide sets out typical fractional CFO day rates by experience and region, how monthly retainers are structured, how the cost compares with interim and permanent CFOs, and the situations where a cheaper option will do the job. A note on how we work: fractional CFO searches are run jointly with our sister firm FD Capital, whose core work is CFO and FD appointments, while Accountancy Capital places the fractional Financial Controllers and Finance Managers who usually work alongside them. For how the search itself runs, see fractional CFO recruitment; this page is about the money.
Fractional CFO Day Rates
Day rates vary with the individual’s seniority and track record, the complexity of the engagement and the sector expertise required. The most experienced fractional CFOs — former full-time CFOs of £30m–£150m businesses with PE-backed or listed experience and a record of fundraising, exit or M&A — sit at the top of the range and often hold two or three engagements at those rates.
| Profile | London | South East | Midlands & North |
|---|---|---|---|
| Fractional CFO, FD background, SME experience | £750–£900/day | £640–£765/day | £565–£675/day |
| Fractional CFO, PE-backed / fundraising background | £850–£1,100/day | £725–£935/day | £640–£825/day |
| Senior fractional CFO, listed / complex group | £1,000–£1,300/day | £850–£1,105/day | £750–£975/day |
These are typical ranges for fractional CFOs engaged through specialist recruiters. Someone the business already knows may agree a lower rate, but experienced portfolio CFOs tend to hold close to market rate whatever the route. Remote engagements are usually priced near the CFO’s home-region rate, with travel days charged as agreed. Rates cover the individual’s time only and exclude software, tools and expenses; where the CFO’s company is registered for VAT, VAT is added on top, which matters if your business cannot fully recover it.
What pushes a rate up or down
- Investor complexity. Reporting to a PE fund or an institutional board, with covenants and quarterly updates, commands more than guidance to an owner-manager.
- Live transactions. A fundraise, refinancing or sale in the next six to twelve months narrows the pool to people who have led one before.
- Regulation and sector. FCA-regulated firms, SaaS metrics or multi-currency groups need specific experience. Regulated senior manager roles such as SMF2 add personal accountability and are priced accordingly.
- The team underneath. A CFO with no Financial Controller below them ends up doing two jobs, which means more days or a higher rate.
Monthly Retainers and Engagement Models
The monthly retainer is the most common structure for ongoing fractional CFO work. It gives the business a predictable cost and the CFO stable income across a portfolio of typically two to four clients. A retainer agreement normally specifies the days included each month, a clear scope of work, how extra days are approved and charged, and the notice period. A minimum initial term of around three months, followed by a one-month rolling notice period, is typical.
| Engagement | London monthly | London annual | South East annual | Midlands & North annual | Typical fit |
|---|---|---|---|---|---|
| 1 day per week | £3,250–£5,500 | £39k–£66k | £33k–£56k | £29k–£50k | £5m–£15m revenue, early CFO need |
| 2 days per week | £6,500–£11,000 | £78k–£132k | £66k–£112k | £59k–£100k | £10m–£30m, active fundraising or investor board |
| 3 days per week | £9,750–£16,500 | £117k–£198k | £99k–£168k | £88k–£150k | Near full-time; often a step to permanent |
At three days a week the upper end overlaps with the cost of a permanent CFO, and the permanent route usually becomes better value unless there is a specific reason to stay fractional: a defined project, a wish for flexibility, or a particular individual who will not take a permanent role. One day a week is the sweet spot for early and mid-growth businesses that need board-level guidance and a credible investor voice but genuinely need the CFO for only part of the week.
Other structures you will see
- Day rate, billed monthly in arrears. Common for the first few months while the real time requirement becomes clear.
- Project fee. A fixed price for a defined deliverable such as an investor model or a data room, sometimes alongside a retainer.
- Retainer plus flex days. A base number of days with an agreed rate for extra days during a raise, an audit or a board cycle.
- Success-linked elements. Occasionally a bonus tied to completing a fundraise or sale; agree it in writing and check it does not compromise the CFO’s objectivity.
Our guide to pricing fractional finance work covers these models from both sides, and fractional FC engagement models shows how the same structures apply one level down.
Pricing a Fractional CFO? — 0204 553 8893
Tell us the days, scope and budget you have in mind and we will tell you honestly whether they match the market. Fractional CFO searches run jointly with FD Capital; fractional FCs and Finance Managers are placed directly. Same working day response.
Fractional vs Interim vs Permanent CFO: The Cost
Cost should not drive the choice on its own. A business that needs a CFO every day — to lead a large team, handle daily investor contact or steer a complex restructuring — needs a permanent or interim CFO. A business that needs board-level leadership, an investor model and a credible CFO voice for one or two days a week is a natural fractional fit.
| Model | Annual cost (London) | Days/week | Best for |
|---|---|---|---|
| Fractional CFO (1 day/week) | £39k–£66k | 1 | Pre-Series A; board-level guidance |
| Fractional CFO (2 days/week) | £78k–£132k | 2 | Active fundraising; investor reporting |
| Interim CFO (full-time, typically 3–12 months) | Typically £750–£1,300/day; £165k–£286k a year equivalent | 5 | Transaction, crisis or urgent full-time gap |
| Permanent CFO | £160k–£280k all-in (base around £130k–£215k) | 5 | Sustained full-time CFO need |
The permanent figure adds employer’s National Insurance at 15% (from April 2025), pension contributions, a bonus that commonly targets 20–30% of base, and benefits such as private medical cover, to the base salary. The interim annual equivalent assumes a typical day rate over about 220 working days, though few interim CFOs stay full-time with one client for a whole year. A two-day fractional CFO therefore costs roughly half a permanent CFO, and a one-day arrangement roughly a quarter. See the CFO salary guide for permanent benchmarks and interim CFO recruitment for full-time cover.
The Lower-Cost Alternative: A Fractional Financial Controller
Many businesses pricing a fractional CFO actually need control before strategy. If management accounts are late, the balance sheet is not reconciled or the audit is painful, a CFO on a CFO day rate will spend expensive days on Financial Controller work. A one-day fractional Financial Controller in London typically costs £29k–£39k a year, against £39k–£66k for a one-day fractional CFO, and fixes the underlying numbers that any CFO will later rely on. Full figures are in our fractional FC rates UK guide.
For many businesses of £2m–£10m revenue the sensible sequence is a fractional FC or fractional Finance Manager first, adding a fractional CFO when a fundraise, lender or investor board arrives. Businesses with investors often need both: the CFO owns the strategy and the board, the FC owns the close and controls, and the combined cost is usually still well below a permanent CFO. Where the need is board-level but not investor-heavy, a fractional Finance Director can be another middle option.
What the Retainer Should Buy
The core deliverable is board-level financial leadership: presenting performance to the board with credible analysis, managing relationships with investors, lenders and other external stakeholders, building the models behind strategic decisions, and acting as the CFO in investor conversations and due diligence. A fractional CFO should also provide stewardship of the function below, checking that the FC or Finance Manager produces accurate, timely accounts and that controls suit the size of the business.
The engagements that tend to give the best return are Series A or B fundraising, where the CFO builds the investor model and runs the data room; M&A, where they lead the due diligence response and manage advisers; exit preparation, where they build the information pack that shapes valuation; and early PE backing, where they set up investor reporting before a full-time hire is justified. Our guide to what a fractional CFO does covers scope in more detail, and when a business needs a fractional CFO helps with timing.
Setting realistic expectations
The most common mismatch is expecting the full range of CFO work — investor relations, M&A, strategy, team leadership and controls — from one day a week. One CFO-level day buys excellent board guidance and a credible investor voice; it does not buy someone who is in the business daily, leading the team and answering every investor query. If the honest need is two or three days, price it at that level and weigh it against a permanent hire. If one day is enough for the board and investor work, the fractional model is very good value.
IR35 and Tax
Fractional CFOs usually work through their own limited company. Many engagements sit outside IR35 where the CFO serves several clients, controls how and when the work is done and has a genuine right of substitution. A CFO who works only for one business and is closely directed is more likely to fall inside. Medium and large clients must make the status determination themselves under the off-payroll working rules, and HMRC’s Check Employment Status for Tax tool is a reasonable starting point. Record the determination at the outset and review it if the arrangement changes materially, for example if a portfolio engagement becomes effectively exclusive. Our guide to umbrella vs PSC vs fixed-term engagements covers the alternatives.
The Fractional CFO Market
The UK fractional CFO market has grown steadily, driven by a large scale-up sector, more private equity at smaller deal sizes and founders recognising the value of board-level finance before they can afford a full-time CFO. On the supply side, more experienced CFOs and FDs now choose portfolio work as their main career. The quality range is wide: alongside highly experienced portfolio CFOs there are people using the title without the investor-facing record the role demands. Checking track record, references from previous fractional clients and sector fit before engaging matters, because at these day rates a misaligned engagement is expensive for a smaller business. Professional bodies such as the ICAEW publish guidance for members working in portfolio roles.
Fractional CFO Rates: FAQs
What is a typical fractional CFO day rate?
In London, typically £750–£1,300 a day depending on experience and complexity, with lower rates in the South East and the Midlands and North.
How much does a fractional CFO cost per year?
One day a week in London is typically £39,000–£66,000 a year and two days £78,000–£132,000, roughly half the all-in cost of a permanent CFO for the two-day model.
Is an interim CFO more expensive per day?
Interim CFO day rates are typically £750–£1,300, similar to fractional rates, but full-time, so the monthly cost is far higher. Interim suits an urgent, time-limited full-time need.
Do you recruit fractional CFOs directly?
Fractional CFO searches run jointly with FD Capital. Accountancy Capital places the fractional FCs, Finance Managers and accountants around the CFO, with candidates typically within days.
How do I get started?
Call 0204 553 8893 or email recruitment@accountancycapital.co.uk; we respond the same working day. Our offices are at 167–169 Great Portland Street, London W1W 5PF and Watling Court, Orbital Plaza, Watling Street, Cannock WS11 0EL. Fees are agreed in writing before a search starts.
Adrian Lawrence FCA — Founder, Accountancy Capital
Fellow of the ICAEW | Chartered Accountant holding an ICAEW practising certificate | Part of FD Capital Group
Adrian is a former listed-company Finance Director with a BSc from Queen Mary College, University of London, and founded FD Capital before Accountancy Capital. Many fractional CFO conversations end with a cheaper, better-fitting answer — a fractional FC first, or fewer CFO days with a capable team beneath — and our recruitment team will say so when it is the case.
Related Pages and Resources
Fractional CFO
The role, the search and the timing.
Interim and Permanent CFO
Full-time CFO cover and hires.
Rates and Salaries
Benchmarks for finance roles.
Find the Right Fractional Finance Leader — 0204 553 8893
Fractional CFO searches run jointly with FD Capital; fractional FCs and Finance Managers placed directly by Accountancy Capital. Same working day response, with fractional candidates typically within days.