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Compensation for most CFOs has been hard hit by the economic downturn–and it’s not making life any easier for Russell Boyle. The head of the financial services practice at New York-based executive search firm Egon Zehnder International, Boyle has had trouble filling a number of jobs at major public companies lately because his clients simply don’t have the resources to pay the candidates enough. One company, a business with no debt and plenty of cash, has been turned down by no fewer than three prospective CFOs over the past five months, including people working for smaller, private firms.

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