First finance hire recruitment for Australian startups
Taking finance off the founder for the first time? Story Recruitment places two roles only, the first finance hire and the first CFO, and Tom Hunter runs every search himself.
Making your first finance hire? Start with your email.
Tom calls you back, usually within one business day. Or call 02 9099 7619.
Which first finance hire do you need?
Usually not a CFO. Of the 191 funded Australian startups in our study of first finance hires, 71% (135) started below CFO: a head of finance or finance director (44), a financial controller (36), an accountant or FP&A analyst (29) or a finance manager (26). For most VC-backed startups at 10 to 20 heads the right seat is a hands-on financial controller; a head of finance comes first when the business is complex early. The common triggers for making the hire:
- Scaling past 10 to 20 heads, often around a big seed or Series A round
- Three to six months after a seed round closes
- The existing bookkeeper and accountant setup breaking
What to pay your first finance hire
$160k to $240k across the usual first seats in 2026. A financial controller sits at roughly $160k to $200k plus super, a head of finance at $180k to $240k plus equity. Price the role for 12 months out, not for today. Our salary guides by role has the detail.
Want the band for your stage and city? Tom will send it.
Tom calls you back, usually within one business day. Or call 02 9099 7619.
Finance salaries in tech, deep tech and fintech startups
Our Startup Finance Salary Database holds 256 sourced salary figures from 104 funded Australian startups: pay bands from the companies' own job ads, and salaries reported for the same role at the same company. Every figure links to its source.
- Financial Controller salaries (11 figures)
- Head of Finance salaries (9 figures)
- Finance Manager salaries (38 figures)
- FP&A and finance analyst salaries (61 figures)
- Accountant salaries (118 figures)
- Finance salaries in tech startups (170 figures)
- Finance salaries in deep tech startups (37 figures)
- Finance salaries in fintech startups (30 figures)
What the search costs
Our fee is published, which most firms do not do. On a first finance hire package of $190,000 total remuneration, 18% is $34,200, paid in three instalments.
| What it means for you | Our terms | |
|---|---|---|
| Fee | A known cost, set against the package you agree with the hire. | 18% of total remuneration, including super. |
| When you pay | Payments track work delivered, not only the outcome. | A third at the start, a third at shortlist and interviews, a third about ten days after written acceptance. |
| If it does not work out | The risk of a failed hire does not sit only with you. | A free replacement search within the first six months. |
| Who runs it | One person from brief to offer. | Tom Hunter, personally, on every search. |
How the search runs
Brief to signed contract averages about three weeks on Tom's searches. Senior finance people are usually employed and on notice, so plan the start date around that.
The brief
Tom sits with you and writes down the real story of the business: what this person walks into on day one and what they have to build. That brief becomes the scorecard.
The search
The role goes to market as a story post, alongside market mapping and direct approaches to people who are not looking.
The shortlist
A small number of people Tom has met and assessed against the brief, each with a clear trade-off. Then three interviews: getting to know each other, a case study on a real problem in your business, and a culture conversation.
The offer
References with permission, then a signed contract. Tom stays in touch through the notice period and the first months in the seat.
What clients and candidates say
“We really wanted to just do the one hire properly, and find a recruiter that was able to work with us, understand what we were looking for, and find us that person.”
“He advised on structuring the right job title aligned with salary, provided a strong shortlist of candidates, and offered clear recommendations that supported the decision-making process.”
Common questions
Should a startup's first finance hire be a CFO?
Usually not. In our study of funded Australian startups, 135 of the 191 with a dated finance hire (71%) started below CFO, and 56 (29%) started with a CFO. The right seat is the one the business will need in 12 to 18 months.
If my first finance hire is below CFO, will I have to replace them when I hire a CFO?
More often than not, the CFO goes above them. Of the 135 startups we tracked whose first finance hire was below CFO, 65 later hired a CFO, a median 26 months after the first hire. In at least 35 of those 65, the first hire was still in their role when the CFO started.
Can a fractional CFO replace a first finance hire?
For a while, in a simple business. A single-product SaaS company might rely on a fractional CFO until Series B, while a complex deep tech business such as robotics needs an in-house finance professional much sooner.
What does the search cost?
Our retained fee is 18% of total remuneration including super, paid in thirds: at the start, at shortlist, and about ten days after written acceptance. On a $190,000 package that is $34,200. If the hire does not work out in the first six months, we run the replacement search free.
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Tell Tom about the role
The stage, the scope and the timeline. You will get an honest read on the level, the market and the cost before you commit, and if the hire you need is a different one, Tom will say so.
Prefer to talk first? Call 02 9099 7619 or email info@storyrecruitment.com.au.