The Three Pricing Models
Ad-hoc engagement billed by the hour. Common for very early-stage businesses or one-time advisory needs. Senior or highly specialised profiles can reach €500–€800/hour. The main drawback: unpredictable costs and limited strategic continuity across sessions.
The most common and effective structure. A fixed monthly fee for a defined number of hours (typically 8–40 hours/month). Predictable cost, ongoing availability, and sustained strategic continuity. This is the format that delivers the most value for a growing service business.
Fixed price for a defined deliverable — building a financial model, preparing for a fundraise, running due diligence, exit readiness assessment. Scope must be explicitly defined upfront to avoid disputes.
Monthly Retainer Levels in Practice
| Engagement level | Monthly fee | Hours/month | Typical scope |
|---|---|---|---|
| Foundational | €2,500–€3,500 | 8–12 hrs | Monthly financial review, cash flow monitoring, board commentary |
| Core | €4,000–€6,000 | 16–24 hrs | Full FP&A, budgeting, KPI dashboard, investor liaison, management accounts |
| Intensive | €7,000–€10,000 | 30–40 hrs | All core work plus fundraise lead, M&A support, finance team management |
Typical starting point: Most businesses engaging a Fractional CFO for the first time start at the Core level — 16–24 hours/month at €4,000–€6,000/month. This covers enough hours for real strategic work without over-committing before you've established what you need.
Project-Based Fee Reference Points
| Project type | Typical fee | Timeline |
|---|---|---|
| 3-year financial model build | €5,000–€12,000 | 3–6 weeks |
| Investor-ready financial package | €8,000–€18,000 | 4–8 weeks |
| Full fundraise support (seed–Series A) | €12,000–€25,000 | 2–4 months |
| Due diligence financial pack | €8,000–€20,000 | 4–8 weeks |
| Annual budget + rolling forecast | €4,000–€10,000 | 2–4 weeks |
| Exit readiness programme | €15,000–€40,000 | 3–6 months |
What Drives the Cost Up
- Senior experience and specific track record — a CFO who has led 10 fundraises charges more, and is often worth more
- Specialist sector expertise — regulated industries (financial services, healthcare, fintech) command a premium due to compliance complexity
- Live transaction involvement — active participation in a fundraise or M&A process significantly increases time demand and risk
- Geographic premium — major financial centre rates are typically 20–40% above regional equivalents
What Drives the Cost Down
- Lower revenue stage — businesses at €500k–€1M revenue often negotiate lower retainers; experienced CFOs value the long-term relationship potential
- Clean existing infrastructure — if you already have accurate books and a solid controller, the Fractional CFO focuses on strategy rather than remediation
- Clearly scoped engagement — ambiguity in scope inflates cost; the more precisely you define what you need, the more accurately it can be priced
Cost vs. Full-Time CFO — The Real Comparison
| Cost element | Fractional CFO | Full-Time CFO |
|---|---|---|
| Core fees / salary | €36k–€96k/yr | €120k–€220k/yr |
| Social contributions | None | +15–25% of salary |
| Pension + benefits | None | €10k–€25k/yr |
| Bonus | Rarely required | €18k–€55k/yr |
| Recruitment cost | ~€2k (referral) | €20k–€50k+ |
| Total year-one cost | €38k–€98k | €185k–€370k+ |
How to Think About ROI
The better question is not "can we afford this?" but "what does it cost us not to have it?" The most common value levers:
- Cash flow improvement — most businesses discover significant inefficiencies within 60–90 days; tightening payment terms and eliminating cost leaks often recovers 3–5× the monthly retainer
- Fundraising outcome — a well-prepared fundraise with a credible CFO in the room routinely adds 15–30% to valuations; on a €2M raise, that is €300k–€600k in additional equity value
- Founder time recaptured — if you're spending 8 hours per week on finance and your time is worth €200/hour, that's €83k/year; a Fractional CFO at €5k/month costs €60k/year and frees that time for revenue-generating work
- Cost reduction — vendor renegotiations, COGS analysis, and overhead reviews typically yield 3–8% cost reduction; on a €3M cost base, that is €90k–€240k in savings
If you engage a Fractional CFO and nothing measurably improves in 90 days, either the wrong person was hired or the scope was not properly defined. The right engagement should be clearly value-positive within the first quarter.
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