Chief Financial Officer, ship

What does a Chief Financial Officer on a ship do? – Tasks and Work Environment

A Chief Financial Officer on a ship is responsible for the financial management of the vessel's household and service operations. Tasks include budgeting, accounting, procurement of goods and services, and personnel management in areas such as kitchen, cleaning, and other service functions onboard. The role requires good planning and organizational skills to ensure efficient operations, even during long voyages at sea. The work environment is varied and often involves working in an international setting with high demands on flexibility, problem-solving, and clear communication, as the work is performed onboard ships that may be at sea for extended periods.

Salary Development Over Time

The salary for a Chief Financial Officer on a ship has shown stable and positive growth over the past three years. In 2022, the average salary was 40,000 SEK per month, followed by a slight decrease to 39 900 SEK in 2023. However, in 2024, the average salary increased significantly to 41 600 SEK, representing a rise of approximately 4.3% compared to the previous year. This increase can largely be explained by increased demand for qualified personnel in the shipping sector and a greater focus on streamlining financial processes onboard. Changes in collective agreements and higher educational requirements may also have contributed to the strengthening of salary levels for this profession.

Chief Financial Officer on a ship Salary – Complete Overview

• Average salary: 41 600 SEK/month
• Lowest salary: 36,400 SEK (men, public sector), 36,600 SEK (women)
• Highest salary: 45,400 SEK (men, public sector), 43,200 SEK (women)
• Hourly wage: 250 SEK
• Gender differences: Women earn an average of 42 400 SEK/month; specific male figures are unavailable
• Regional differences: Specific regional salary data are not available

Education and Qualifications

To work as a Chief Financial Officer on a ship, a post-secondary education in economics, hotel, or restaurant management, or equivalent, is usually required. Practical experience in service, large-scale catering, or shipping is often advantageous. Since the role involves both administrative and operational responsibilities, leadership training and good language skills are highly valued.

• Economics or hotel education: Post-secondary, 2–3 years
• Special maritime training: Certifications in safety and hygiene
• Practical experience: Often required relevant work experience or onboard internships
• Leadership training: Meritorious for personnel management roles
• Language skills: English and Swedish are often required

Common Benefits and Compensation

Chief Financial Officers on ships are often offered benefits such as free meals and accommodation during service, travel allowances to and from the ship, and additional vacation days. Other common compensations include supplements for unsociable hours and sometimes bonuses linked to performance or efficiency.

Competition and Challenges

The competition for positions as a Chief Financial Officer on a ship can vary depending on the type of vessel and employer. Since it is a relatively niche profession with demands for both financial and operational expertise, there are often fewer qualified applicants than for broader financial roles. Challenges in the profession include leading personnel from different cultures, managing limited resources onboard, and quickly solving practical problems. Additionally, high demands are placed on accuracy in financial reporting and compliance with maritime regulations.

Tips for Aspiring Chief Financial Officers on Ships

To succeed as a Chief Financial Officer on a ship, it is beneficial to combine analytical skills with a genuine interest in service and leadership. Developing good organizational skills facilitates managing daily routines and resource planning onboard. Flexibility is an important trait, as the work environment often changes rapidly and unexpected situations can arise. Communication is crucial – both for leading the team and collaborating with other departments onboard. It is also valuable to gain experience in large-scale catering, hotel, or restaurant management before entering the maritime sector. Being solution-oriented and stress-resistant makes it easier to handle challenges during long sea voyages, and a willingness to continuously develop oneself contributes to a successful career in the profession.

Key Facts about Chief Financial Officers, Ships

• Education level: Post-secondary education in economics or hotel/restaurant management (2–3 years)
• Work environment: Onboard ships, often in an international setting
• Typical employment: Fixed-term contracts with free meals and accommodation
• Demand: 123 available positions within the profession
• Special skills: Certifications in safety and hygiene

Career Paths and Future Outlook

After several years of experience as a Chief Financial Officer on a ship, there are opportunities to advance to higher administrative roles within shipping companies or maritime organizations, such as operations manager or financial manager for multiple vessels. Some also choose to work in land-based roles within logistics, hotel, or restaurant industries due to their broad skill set. According to the Swedish Employment Agency’s forecasts, demand for the profession is relatively good, with 123 reported job openings. Digitalization and increased focus on efficiency in maritime operations may, however, change the role’s content and requirements over time. Specialization in environmental and sustainability issues can also open new career paths.

Frequently Asked Questions about Chief Financial Officers, Ships

• What does a Chief Financial Officer on a ship earn?
  - The average salary is 41 600 SEK per month, with variations depending on experience and employer.
• What education is required to become a Chief Financial Officer on a ship?
  - Post-secondary education in economics, hotel, or restaurant management, along with safety certifications, is recommended.
• Are there salary differences between women and men?
  - Women earn on average 42 400 SEK, while specific figures for men are unavailable.
• What is the work environment like for a Chief Financial Officer on a ship?
  - The work takes place onboard ships in an international environment with varying workdays and personnel responsibilities.
• What career opportunities are available after a few years in the profession?
  - Opportunities include advancing to management roles or transitioning to land-based positions within related industries.
• What benefits are common in this profession?
  - Free meals and accommodation, travel allowances, and extra vacation days are typical benefits.
• What are the future prospects for a Chief Financial Officer on a ship?
  - Demand is stable with good job prospects, especially for those with the right education and experience.