Next big step to the C-suite
Hi all,
Not sure if this question was already asked else where...
Anyway, I'm 28, with an MBA, half way done with my CPA, working as a Senior Financial Analyst for a Fortune 50. (probably a dream job to many)
Life is easy at the moment. However, I feel that my career is getting a bit "flat"? Like most big MNC, going up the ladder takes a long time at my company. So I'm really looking for the next big career move to reach a C-suite at 35. (my life-long goal since college)
With some lucks, I was able to get an offer for a Finance Manager position (FAS) at a Big 4. The new job gives me opportunities to work on M&A, deals, client advisory, pretty much the opposite stuff that I'm experiencing now.
Should I take the offer? Will moving to Big 4 Advisory speed up or slow down my goal of being a CFO for a mid-size company at 35? Is this an unusual career move? (from MNC to Big 4)?
I know there's no one-size-fit-all answer to this. But I just wanna hear your thoughts.
Thanks for reading
Your actually where I want to be in the next 6-8 years, with very similar goals. I know this post isn't much help, but hopefully someone with experience can comment.
Same with me, except without the MBA so maybe a little sooner. I'm hoping to be in the SFA role after three years of Big 4 audit. Assuming I don't go a more nontraditional exit opp, that it.
From my experience talking to c-suite guys... the track is as follows:
2 years BB IBD 2 years MM PE Join a portfolio company C-suite
Since a CFO has to be proficient both at accounting and transaction side (M&A), sounds like the move makes sense. Developing soft skills from consulting experience should also help if you are currently in a role where you don't manage people and\or have senior exposure. The main arguments against the move would probably be in regard of your current company: for example, if you are seen as a high potential fast track guy in your current position and\or you absolutely love your company, that might be a reason to stay.
Would agree. Take the position, get more diverse experience. Should help get you to the C-Suite.
Very interesting comment as it's a bit contradicting to some of the posts below. Is your statement true? Does a CFO have to be proficient both at accounting and transaction side? This is the struggle that I have at the moment. When I talk to about the move to my buddy, who is a Financial Comptroller at a mid-size company; his first reaction was: "Why?" He told me if my end goal is to become a CFO someday; I should (1) Finish my CPA (2) Get promoted fast by either staying in the current role or by moving to a smaller company. The transaction, client experience, to him, is just an unnecessary add-on; as it's not "core-finance" work. His comment is the reason why I'm posting this question online; instead of jumping to the 10% pay raise at the Big 4 immediately.
By the way, thank you all for the comments. Didn't expect such an overwhelming responses from everyone.
Well, doesn't M&A department report to CFO in your firm? I would expect that as CFO you would be heavily involved in all significant M&A activity at your company, as well as stuff like issuing equity, which is not exactly accounting. Excellent command is accounting i also required, but I guess you should have that by now from your SFA experience. CPA sounds right as well but wouldn't you have roughly the same opportunity to get this certification at Big 4?
However, take my opinion with a grain of salt both because I do not have first hand experience in corporate finance and because my experienced is not from the U.S. Let's hear more opinions from people with direct experience.
My experience is from an F50; it will be different for smaller companies or companies with different structures.
Harvardgrad outlines the typical path to C-suite pretty clearly here (last post of the thread):
http://www.wallstreetoasis.com/forums/best-way-to-executivejunior-exec-…
The hierarchical path is analyst->sfa->mgr->senior mgr->director->vp->cfo, and maybe some additional steps for senior director and senior or executive VP. There are also several levels of CFO's (global divisions & segments have CFO's, for example). I realize you're looking at smaller companies, but if you're trying to go from SFA to CFO in 7 years...you better start advancing really freakin' fast. That being said, I think SFA to Big 4 Manager is a good move, assuming you aren't being considered for a manager spot at your current F50 (if you were, whether to switch or not would be up for discussion).
whats mnc?
multi-national corporation
if you don't mind working long(er) hours, take the big4 gig. a manager role within FAS (transaction advisory/M&A/restructurings) is a pretty big deal to F500's. put in a few years as manager and that will def give your career a boost. also, you can use this experience to get into more interesting roles at F500's like corporate dev/strategy which tend to be feeders for c-level positions.
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