Where to launch career for best exit to Corporate Finance (F500 type companies) - besides their own grad programs
Hi Everyone,
Quick background:
I'm in my last year of uni - majors in Finance from a Group of 8 Uni in Australia (Our more prestigious unis - although I think uni prestige here is a bit less important!). 6.67 GPA (7.0 scale). EC's: Founded our University Basketball Club, SAE (Society of Automotive Engineers) team manager, a senior position on the University Sports Council where I represent students to the University Sports board. Also worked as a tutor part-time during uni and mentor high school students. I was also an elite athlete in high school for Tennis, but wasn't able to continue this due to injuries, and this year will be mentoring students from the tennis program there also. Finally, I did my study abroad to UW Seattle and got on the dean's list while there.
My career goal is to get to a large international corporate - in Australia our largest employers at the grad level and really, one of the best places to work in are Oil & gas firms - EG BHP, Chevron, BP etc. So that's the aim!
I would love to be a senior manager position (Director/VP) of finance/treasury etc at these sorts of firms.
However, they hire very few grads and it is quite competitive. However, I really like the sound of these grad programs as you get rotated through Internal Audit, Treasury, M&A, Accounting etc. I would hope at the end to be placed in Treasury or M&A.
I like the idea of work-life balance at the Corporates (relative to IB's etc), I'm not too focused on salary etc. The only drawback is potentially slower career progression, but they do pay well here! (Better than big 4 actually)
I currently have an offer from a big 4 Accounting firm in Audit, where I just did my internship!
I actually enjoyed working there, loved the firm and people, and I think it would be a pretty good place to start with for awhile, and start working towards my CA and I would be learning alot. However, I would want to transfer out ASAP (
However, I am also thinking of applying to other big 4 CF teams or some IB's, as I think I would enjoy that kind of work - and tbh, if I am going to work Audit hours, I may as well get paid for it! Audit here at least, pays pretty badly and has ALOT of hours. I also think that I may as well shoot for the most "prestigious" grad program I can get into while I can - as it may improve my exit opportunities?
My only worry here is that I won't be able to get the time towards CA Study, which may be beneficial in the corporate world?
I would really welcome anybody's opinions on a good career path for me to take at this stage, and some advice on where to launch my career to get where I would like to go!
Thanks very much!
Everything below applies to US companies, so not sure how it works in Australia. You may want to try and get in touch with alumni that work at the companies or send out cold emails to all the people you can find on LinkedIn or wherever with a profile that says they went through one of the programs you want to be in.
It depends what you mean by corporate finance. If you mean the actual internal finance/accounting functions (FP&A, project finance, general accounting, etc), then your best bet is probably audit at the Big 4.
If you ultimately want to do M&A (usually it's called corporate development in the US), then you almost have to start in investment banking or consulting. I understand that some Big 4 TAS make it into corpdev, but IB is the biggest feeder as far as I know.
Thanks for the response!
Of the two, I think Corp Dev sounds more interesting, but Both FP&A and Treasury sound like pretty good roles too and looks like they can lead to some great positions in an organisation.
From what I've read it may be possible (but difficult) to transfer from FP&A to a Corp Dev team in a company with good networking and solid work? What about (not sure this ever happens) but moving the other way? From IB/Corp Dev to more FP&A/Treasury positions? Is this more possible at the IB/Corp Dev roles are more prestigious? Not too sure how transferable the skills are though.
If that was the case I would definitely shoot for IB/Corp Dev first, as I would be able to transfer to FP&A / Treasury later if desired.
This really just makes me want to get into a good grad rotational program more as I'd get to explore each team before being placed in one/locked in!
I should reiterate that all I've been told refers to American companies, but here goes:
1) I haven't heard of FP&A moving to CorpDev, unless the person in FP&A was in an FLDP at the time. That said, it may be possible. The thing is, FP&A isn't M&A. Usually the CorpDev teams are small, so they want people who can jump right into the work. Even making the jump from an FLDP to CorpDev is rare. There is also the possibility that the examples you've heard of are people transferring at a much higher level. That is a Director in FP&A with 10-15 years of corpfin + industry experience may have made the move to CorpDev or something like that. Of course, you have to remember I haven't spoken to everyone, and I definitely haven't talked to anyone in Australia.
2) IB or CorpDev to FP&A shouldn't be an issue. I'm not so sure about IB, but CorpDev I know for a fact sends people all over the company. That said, after 2-3 years in IB you should be well positioned to get a role just about anywhere.
3) IB or CorpDev to Treasury is a bit more difficult to cover. Treasury can encompass a lot of different job descriptions. I still think you'd be able to make it happen, but I've also heard that they often look for people coming from more trading/Asset Management/risk type of positions. Because for the most part, that's what treasury is involved in.
4) Honestly, a good rotational program is the best way to see what you want to do haha. Also, positioning yourself for a good MBA is a great idea because of all the doors that can open up down the road. You can switch into any position you've listed with a good MBA.
Sorry I can't help more, your best bet is to talk to people in those types of jobs in Australia. Just reach out and mention your interest / offer to buy a drink or what have you.
Best of luck.
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