As per a report by Bengaluru-based executive search firm, WalkWater Talent Advisors, 96 per cent of CFOs (Chief Financial Officer) are men and only four per cent are women in Indian unicorns. In the US, 83 per cent of CFOs are men while only 17 per cent are women.
In recent times, India has witnessed a transition in the number of unicorns and some have even launched their IPOs. Investments into Indian start-ups was down by 75 per cent during the first quarter of 2023. The report highlighted that only 33 per cent of unicorn CFOs were hired from other start-ups – BFSI (18 per cent), industrial (16 per cent), and FMCG (14 per cent).
An analysis of 100 Indian start-ups and 50 US unicorns showed that Indian CFOs are younger than Americans. In India, 60 per cent of the talent pool come with a minimum 15-25 years of work experience. In the US, 20-30 years of experience make up for 60 per cent of the talent pool.
The role of CFOs in a unicorn is strategic in nature from a fundraising point of view, dealing with key investors, preparing the company for an IPO and other such crucial responsibilities. Delhi-NCR and Bengaluru are the main hubs for the hiring of CFOs in India – 35 per cent from Delhi, 32 per cent from Bengaluru and 16 per cent from Mumbai.