Why there is no standard COO number
Of all the C-suite titles, COO is the least standardised. In one business it means running a large delivery organisation with most of the headcount underneath it. In another it means being the founder's second in command across everything that is not product. In a third it is a title given to a strong general manager to keep them.
Those are not variations of one job, they are three different jobs, and they price differently. This is why a published COO average is almost always unusable: it is averaging roles with completely different spans of control. Before you can price the seat you have to define it.
The variables that actually move it are the size of the operation underneath the role, whether it carries a profit and loss, how much of the executive team reports through it, and the stage and capital structure of the business. A COO with revenue accountability and most of the company reporting in is an entirely different hire to a COO who coordinates functions.
Be careful with national benchmarking at executive level
Executive pay is exactly where aggregated salary data is weakest. Large benchmarking providers will not accurately know what a CFO in a deep tech startup in Adelaide earns, or what a Head of Finance in a Series A Sydney fintech is worth.[1] The same limitation applies to the COO seat, more so, because the role definition varies further.
Many of the highest-ranking COO salary sources are also American, and a US figure does not translate. Australian packages are quoted on base plus superannuation, our equity structures and tax treatment differ, and the executive market here is smaller. If a source is quoting percentiles without naming the country and the company scale, it is not telling you anything you can budget against.
Geography inside Australia matters too. Sydney leads the country in both role volume and pay, driven by demand and cost of living.[2] Executive roles follow that pattern.
How to price the seat instead
Work from the mandate, not the title. Write down what the person will actually own, what reports to them, and what decision they can make without the CEO. Then benchmark against comparable businesses at your stage and scale, rather than against the title in a national dataset.
| COO mandate | What it means for the package | |
|---|---|---|
| COO running the delivery organisation | Most headcount, own P&L accountability | The most expensive version of the seat, priced at or above the CFO band in the same business. You are buying someone who can run a company inside the company. |
| COO as founder's second in command | Broad scope, shallow reporting lines | Common in scale-ups. Priced against executive comparables at your stage, with equity carrying a large share because the value is judgement and trust rather than span of control. |
| COO as senior general manager | Functional ownership, no P&L | A title given for retention or seniority signalling. Prices below the true executive band, and mispricing it upward is a common and expensive founder mistake. |
| Overlap with the finance seat | Undefined line between COO and CFO | In fast-growing businesses finance often already doubles as operations, strategy and systems. Decide the line before you hire, or you will pay twice for the same scope. |
At venture-backed businesses, the cash component is only part of the picture. Assess equity as a table of economic outcomes tied to the grant structure, across a range of exit scenarios, rather than as a percentage on a page.[3] That is the only honest way to compare a lower-cash startup executive offer against a higher-cash corporate one.
Where the COO seat meets the finance seat
This is the part I do have a view on, because it is where founders get the org design wrong. In fast-growing environments, finance teams often double as operations, strategy and systems, with private equity and venture capital expectations driving faster cycles and tighter budgets while the structure is still forming.[4] That overlap is normal early. It becomes a problem when nobody decides where the line is.
What businesses actually value is finance leaders who speak the language of operations, technology and strategy, not just accounting.[5] A strong finance leader with commercial reach covers a meaningful part of what founders reach for a COO to solve, which is why I regularly see businesses discover the seat they needed was a Head of Finance or a CFO rather than a COO.
The relationship also decides whether either hire works. Financial Controllers and finance leaders have to proactively partner with the business, working closely with CEOs, COOs and department heads to communicate insight and influence decisions.[6] When that partnership fails, the hire fails regardless of the technical quality. I saw a Head of Finance leave within nine months, despite strong qualifications, because they could not win the CEO's trust or build rapport with operations.[7]
If you are working out where the operations line sits against the finance line, I set out how the structure should evolve by stage here.
The finance bands, for comparison
These are the 2026 Australian ranges I stand behind, because they come from roles Story actually places in VC-backed startups and scale-ups. A VP or Head of Finance sits at $180k to $240k plus equity.[8] A late Series A CFO commands $275k to $325k base plus equity, often a Head of Finance stepping up.[9] At Series B it moves to $325k to $375k plus equity for an executive who has raised capital, hired a team and sat on a board.[10] At Series C and pre-IPO it is $350k to $500k and up, weighted towards equity.[11]
In most Australian scale-ups the COO and CFO seats sit in a broadly similar band, with the spread driven by which of the two carries more of the operating mandate. If you are budgeting for both, that is a more useful starting frame than a national COO average.
The CFO band moves the most across stages, so I broke it down stage by stage with what each band buys here.
Where Story sits
Story recruits senior finance for Australian VC-backed startups and scale-ups, specifically the first finance hire and the first CFO. I do not recruit chief operating officers. If you are working out whether the gap in your executive team is actually an operations problem or a finance one, that is a conversation worth having, and a big focus of my value proposition is free advice to the market.[12]
Common questions
How much does a COO earn in Australia?
There is no reliable single figure, because the COO title covers at least three different jobs: running a large delivery organisation with P&L accountability, acting as the founder's second in command across everything that is not product, or holding a senior general manager remit with a bigger title. Those price very differently. Published averages blend them, and many of the highest-ranking sources are American and do not translate to Australian packages, which are quoted on base plus superannuation with different equity and tax treatment.
What drives a chief operating officer's salary?
The mandate and the scale underneath it, well ahead of the title. Specifically: how large the operation reporting to the role is, whether it carries profit and loss accountability, how much of the executive team reports through it, and the stage and capital structure of the business. Location matters too, with Sydney leading Australia in both role volume and pay. The right way to price the seat is to write down what the person will actually own and benchmark against comparable businesses at your stage.
Does a COO earn more than a CFO?
In most Australian scale-ups the two sit in a broadly similar band, and which one is higher depends on which carries more of the operating mandate. For reference, the finance side is concrete: a VP or Head of Finance sits at $180k to $240k plus equity, a late Series A CFO at $275k to $325k plus equity, a Series B CFO at $325k to $375k, and a Series C or pre-IPO CFO at $350k to $500k and up, weighted towards equity. A COO running most of the company will sit at or above the CFO band in the same business.
Do I need a COO or a strong finance leader?
It is worth testing before you hire, because the answer is often finance. In fast-growing businesses, finance teams already double as operations, strategy and systems while the structure is still forming, and businesses value finance leaders who speak the language of operations, technology and strategy rather than just accounting. A commercially capable Head of Finance or CFO covers a meaningful part of what founders reach for a COO to fix. Story recruits senior finance rather than operations leadership, but we will tell you honestly when the gap is not a finance one.
References
- Tom Hunter on benchmarking: large providers will not accurately know what a CFO in a deep tech startup in Adelaide earns or what a Head of Finance in a Series A Sydney fintech is worth, a gap he fills through direct conversations.
- Story Recruitment market data: Sydney leads Australia in both the volume of Finance Business Partner roles and pay, driven by demand and cost of living.
- Story Recruitment guidance on presenting equity offers as a table of economic outcomes tied to the founder's grant structure, showing a range of exit scenarios.
- Tom Hunter on fast-growing environments: finance teams often double as operations, strategy and systems, with PE and VC expectations driving faster cycles and tighter budgets while the structure is still forming.
- Tom Hunter on what businesses value: finance leaders who speak the language of operations, technology and strategy, not just accounting.
- Story Recruitment guidance for Financial Controllers: proactively partner with the business, working closely with CEOs, COOs and department heads to communicate financial insights and influence decision-making.
- Tom Hunter on a Head of Finance hire that left within nine months despite strong qualifications, because they could not win the CEO's trust or build rapport with operations.
- Story Recruitment 2026 finance leadership salary bands: VP / Head of Finance $180-240k plus equity.
- Story Recruitment 2026 finance leadership salary bands: late Series A CFO $275-325k plus equity, often a promotion from a previous Head of Finance.
- Story Recruitment 2026 finance leadership salary bands: Series B CFO $325-375k plus equity for a proper executive hire who has raised capital, hired a team and sat on a board.
- Story Recruitment 2026 finance leadership salary bands: Series C+ / pre-IPO CFO $350-500k+, weighted to equity.
- Tom Hunter on his approach to the market: a big focus of his value proposition is free advice, including salary benchmarking, offered before any commercial conversation.