Unicorn CFOs: US leans more on outside hires than India, has older set too

Study by WalkWater Talent Advisors also points to gender disparity, with women CFOs only leading 4% of Indian Unicorns, compared to 17% in US

In India, only 33 per cent of Unicorn CFOs were hired from other startups indicating a higher reliance on talent from traditional sectors. In contrast, in the United States, 72 per cent of Unicorn CFOs were hired from other startups with Enterprise SaaS and Fintech emerging as the top talent sources. Unicorn CFOs in India tend to be younger compared to their American counterparts. About 15-25 years of experience made up 60 per cent of the Unicorn CFO talent pool in India compared to 20-30 years in the US, according to findings of a study by WalkWater Talent Advisors, an executive search firm. The company researched 150 Unicorns (100 Indian, 50 from the US). The study has been co-authored by Gibin Varghese, Partner-Technology Practice, and Shambhavi Singh, Managing Associate-Technology Practice.

Varghese, Partner-Technology Practice at WalkWater Talent Advisors, said, “Startups are facing many challenges in the current business landscape. CFOs today are called upon to shape the company's growth, focus on profitability, raise funds, drive M&A and lead investor & board relations. As a result, the demand for CFO recruitment has intensified, prompting our study into the trends of Unicorn CFO hiring in India and a comparative analysis with the more matured startup ecosystem in the United States.”

Harold D’Souza, Co-Founder and Director at WalkWater Talent Advisors, said, "In exploring the intricate realm of finance and innovation, we unravel the pivotal role of CFOs in our study, who bring a wealth of diverse backgrounds and experiences to enrich the unicorn landscape, nurturing growth and fortitude. However, it's intriguing to discover that despite their significance, 30% of unicorns continue to rely on VPs of Finance instead of embracing the full potential of CFOs."

Gibin Varghese, Partner-Technology Practice at WalkWater Talent Advisors, said, “Startups are facing many challenges in the current business landscape.  CFOs today are called upon to shape growth of the company, focus on profitability, raise funds, drive M&A and lead investor & board relations. As a result, the demand for CFO recruitment has intensified, prompting our study into the trends of Unicorn CFO hiring in India and a comparative analysis with the more matured startup ecosystem in the United States.”