Interview with a Forecasting Analyst

Mod Note (Andy): user Angelz629 was nice enough to do this interview with us. Our questions are in bold, her responses follow.

What is your current job title and a one sentence description of your primary job responsibility?

Forecasting Analyst. My primary job responsibility is to forecast the financial statements (Balance Sheet, Cash Flow, and P&L) ranging from 1 to 20 years out for the business units I support.

What are previous positions you have held and how many years of experience do you have?

I have 8 years of O&G experience in corporate finance with roles ranging from budgeting and forecasting, risk management, strategy development, economic evaluations, external relationship management, and M&A support.

Undergrad:

1.Did you go to a “target”, “semi target” or “non target”?

Yes, I graduated from the University of Texas at Austin – McCombs School of Business, which is one of the top 10 business schools in the US.

2.What was your most useful class and why?

Financial Statement Analysis since I forecast financial statements in my current role

3.GPA? 3.85/4.0

4.During recruiting, how were you able to set yourself apart from other competitive candidates at your school?

I differentiated myself by asking very specific, unique questions that demonstrated to the recruiters that I did a tremendous amount of research. It wasn’t a general cookie cutter question about what the company culture is like, what the development opportunities are, etc.. Instead I found ways to take specific events from the news and linked to the job, my qualifications, and the company. Basically, you want to appear as if you have “insider” information when it’s really because you’ve done a lot of networking and researching.

5.What kind of internships did you have during ugrad?

I was exploring the world of finance, and my internships reflected this: Merrill Lynch - Private Wealth Management, a boutique real estate firm, and Marathon Oil - Treasury.

Grad school:

1.Did you get an mba (or msf or equiv) or are you considering it?

I am currently studying for my GMAT in preparation for applying to graduate school.

2.Do you have any professional certifications (CFA / CAIA / CPA / CIIA, etc.) ?

No. Not required for progression in corporate finance roles. However, required/highly recommended for treasury roles

3.What were some of the main factors in getting the job position you have now?

High performance, exposure to upper management who can influence your career path, good network/connections within the company.

4.What are some of the specific things you do in your current position?

Since I support the Canada and Latin America business units, I maintain constant communication with my contacts in those areas to help with forecasting financial statements and providing business insights/commentaries. I also analyze actuals versus forecasts to understand the variances and incorporate the learnings into my future forecasts. In addition, I follow the business news/current events to determine whether or not there may be potential impacts to these business units that I need to take into account in my forecasts (Keystone Pipeline’s delay on Canada, governmental election in Argentina, foreign exchange currency impacts, etc..)

5.What is your favorite part about the job? What is your least favorite?

My favorite part of the job is being able to learn about new businesses/regions in the O&G industry. For example, a deepwater operation (Gulf of Mexico) is significantly different from heavy oil (Canada) and onshore (Lower 48). My least favorite is the lack of diversity in my job – all financial statement related.

6.What type of person (what background / knowledge / experience / personality) is best fit to do your type of job?

Finance degree, good communication skills, able to work with all types of people, analytical.

7.How do you see your type of role and your industry as a whole changing in 5 years? 20 years?

It’s definitely already changing due to the low oil price environment and the movement towards cleaner energy. However, the skills can be transferred to another industry, if necessary.

8.Did you ever have a mentor and who were some other influential people who helped you along the way?

Definitely, I had several mentors to gain different perspectives. You don’t have a lifetime to make all the mistakes in the world. Having someone share theirs will allow you to learn and avoid repeating them yourself. They also know the “secrets” since they’ve been around longer and are in the upper ranks.

9.What keeps you motivated?

Recognition for my hard work – whether it’s tangible or intangible.

10.How much does someone in a role like yours make per year (base + bonus)?

Approximately $100k- $150k

11.Have you ever considered leaving your job to start your own company?

Yes, but I need the perfect idea!

Advice:

1.What is the one tip you would give to current students (ugrad and/or grad students) to help them succeed?

Don’t just jump on the bandwagon and do what everyone else is doing or what is popular/sexy. Explore all industries and areas of finance. Find your competitive advantage and use it. The money will follow.

2.What are some tips for moving up and becoming “the boss” (i.e. a department head / managing director / partner)?

Identify the “right” roles in the company that will give you exposure to upper management, work on high profile projects, network, and definitely be a high performer.

3.Any specific networking tips you can pass on?

Always maintain contact with your network. You don’t want to just give them a call only when you need something.

4.What are unique things college students and young-professionals can do to separate themselves from the crowd?

Network so you have contacts within the companies. If they’re impressed, they will refer you internally which pretty much grants you an interview.

5.What are some ways (in general) someone could best prepare for an upcoming internship or ft job at a firm like yours?

Familiarize yourself with the industry, why you want to work there, your future goals, etc… Basically, know yourself and convey confidently how you are a good fit for them.

6.What is your opinion on gaining relevant experience at a lesser known firm vs. working for a brand name firm (with less relevant experience)?

Based on my experience, a brand name firm is more credible. It demonstrates that you’ve passed the selection process, which is very competitive for brand name firms. If you passed and demonstrated that you’re smart thru your GPA/school, companies are willing to accept that because they assume you’re smart enough to learn on the job.

7.If you review resumes (or have in the past) - what are some of the most common mistakes you’ve seen?

Very vague, generic descriptions OR a laundry list of role responsibilities instead of accomplishments

8.If you review resumes (or have in the past) - what is something someone can do to make their resume stand out among the crowd?

Add quantitative metrics! Organize it in such a way that it tells a story about you and not just a list of your experiences.