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Corporate finance career tracks
 

Silverthunder's picture
O
 
Points)
 on 1/26/10 at 3:16am

Hey, I am trying to learn more about internal corporate finance career tracks (as in doing finance work for a company that is also my employer). Is there any online/ print information information that you guys can direct me to as a potential career changer?

Undergrad in finance/ economics
mortgage industry for 6 years, 4.5 of those years in sales
looking at getting MBA in corporate finance. Also considering money management, accounting (potentially sub MS taxation or MS accountancy for MBA?)

So anyway, looking for information on corporate finance in the capacity of work for a fortune 500 or midcap company, possibly healthcare company as I would imagine that will be a hot field. I am also somewhat interested in corporate finance for small alternative energy company. The main focus is to learn about a career in corporate finance, doesn't necessarily have to be (aformentioned) industry specific.

Thanks so much guys. This is a great forum; I have read a ton of posts.

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AlphaGeneration's picture

I recommend looking at

IB
(Orangutan, 363
 
Points)
 on 1/26/10 at 3:49am

I recommend looking at companies like Proctor and Gamble and IBM. Check out their corporate finance careers, since these are the big players who have well established programs. Both companies use rotational-like programs, where junior level entrants will stay in one position for 12-24 months and then rotate to another business area (i.e. from a cost forecaster to brand management role to corporate treasury). This allows employees to broaden their experiences and bring something fresh to every position (while also adding value from what they've experienced in prior roles). Mid level managers will rotate positions typically once every 24-60 months. It varies for senior level managers.

Smaller companies obviously won't have a structure like this, but it's a great place to start researching.

Silverthunder's picture

Thank you for the info; I

O
 
Points)
 on 1/26/10 at 11:39pm

Thank you for the info; I will keep that in mind for future employment. However, I don't see a ton of information on their websites. Perhaps they are not doing much recruiting for these roles currently. I do see that IBM has a posting for finance summer intern & even some Co-ops in finance that mentions roles in financial planning, accounting, pricing, business controls, internal audit, treasury, tax, business development (acquisitions/ divestures) and global financing. They say that these roles prefer masters degree in accounting/ finance. Slightly off topic question- does that terminology include an MBA with a concentration in one of those areas or they are really referring to the MS in accounting and the MS in finance.

Let me rephrase my original question a bit. What tend to be the more important/ less important skill sets in each of the corporate finance functions (financial planning, pricing, business controls, internal audit, treasury, tax, business development, revenue forecast, SEC reporting, and global financing)? Which ones are the most analytical skill demanding? How about communication skill demanding and leadership? I heard, from someone that used to work in finance, that the financial planning and analysis tends to be more entry level than the others-- is this true? What would be some career prgressions within these areas in terms of moving up in complexity/ responsibility/ income?

TNA's picture

I am getting a MS in Finance

O
(Human, 13,515
 
Points)
 on 1/26/10 at 11:54pm

I am getting a MS in Finance and there are a lot of people in my class interested in corporate finance. Honestly, you would be better off with a MACC. MSF is too financial market and financial modeling focused to really help you within a corporate finance career path.

MSF Website
MACC Website
MSF Twitter

Silverthunder's picture

that is a really interesting

O
 
Points)
 on 1/27/10 at 1:30am

that is a really interesting post, AnthonyD1982. I would have never guessed that a masters in accountancy would be the right choice for corporate finance. Thank you for your insight. What do others think of this? Would the MS in accountancy be useful for a money management job? I was also considering money mgmt; I think I stated this in my original post.

TNA's picture

Well let me maybe back track

O
(Human, 13,515
 
Points)
 on 1/27/10 at 1:45am

Well let me maybe back track a little. Not saying a MSF would be useless. If you are looking to do Corp Fin or Money Management then maybe a MSF would be a good choice. I just know for the program I am in a large majority of the classes would not be directly attributed towards f500 corporate finance. I feel like a CPA or MS in Accounting would be a better fit. Thing is a MAC isn't really going to prepare you for money mgmt.

MSF Website
MACC Website
MSF Twitter

Silverthunder's picture

I just made a post over in

O
 
Points)
 on 1/27/10 at 3:32am

I just made a post over in the other forum about my interest in money management. We will see what people over there say. An undergraduate degree in economics and finance and the MS in accounting followed by CPA, doesn't seem like it would be that bad for money management (I am not saying that in actual practice a person with such a background would get hired but it just seems like this kind of a background could come in handy with some investment decisions). Even just a random liberal arts undergrad with CPA doesn't seem like it would be that bad because all of the companies (even governments) that the money is invested in, have some form of accounting statements & that relates to how sound the investment is. For example, if you were a CPA looking at good ol Enron, you could have made a killing by shorting the stock- if the fund doesnt let you- even better- bet your own house on it. The only investments that I can think of that do not fit into this category would be residential mortgages and some commercial paper (ie. the stuff that backs funding of hollywood movies).

Anyway, let me know what you guys think about the corporate finance posts that I made earlier about some of the real specific nuances of corporate finance.

george_costanza's picture

I have a question. CPA in

CF
(Baboon, 105
 
Points)
 on 2/3/10 at 6:01pm

I have a question. CPA in Corporate Finance usually means becoming a controller/CFO right? I heard that for those roles, you usually have to start in public accounting (preferably Big 4) and then quit after 2-5 years after being headhunted. Therefore, I was wondering if its still possible to go the controller/CFO route by starting in a company right away instead of doing a whole lot of bitch work at an accounting firm, especially if you know you want to go the managerial accounting instead of the public accounting route.

So I guess a better way of putting it is which path looks better?

A: undergrad => Masters in Accounting => CPA (maybe CMA as well?) => public accounting (not just Big 4, but any public accounting) => corporate work (hopefully as controller/CFO or damn close)

B: undergrad => Masters in Accounting => CPA (maybe CMA as well?) => industry => working your way up to CFO/Controller

C: undergrad => Industry =>working way up to either CFO/Controller or other high level finance positions such as VP of finance, etc. => MBA => continuing up the ladder.

Silverthunder's picture

I am by no means an industry

O
 
Points)
 on 2/4/10 at 4:16am

I am by no means an industry expert, I am not even in the field. However, here is some data that I have found in my research. Here is info for the 2008 graduates.
After graduating, here is what accounting students did..
After BA:
35% public accounting
21% unknown
20% business/ industry
18% graduate school- I think that this means taht they go to graduate school.
3% govt
1% non-profit
2% unknown
--------------------------------------------
After MA:
74% public accounting
7% unknown
11% business/ industry
2% graduate school- I think that this means taht they go to graduate school.
3% govt
1% non-profit
2% unknown

I hope that is at least a bit helpful to you :)

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