Break into FP&A from IT
I have 16 plus of IT and industry experience. A MBA that i completed 11 years back. I can not go back to a FT MBA. I don't think a PT MBA will provide any openings either.
What are some options that is advised/suggested.
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balafbi, pure crickets, that's where I come in. Any of these useful?
If those topics were completely useless, don't blame me, blame my programmers...
It would help if you clarify what kind of IT experience but even without that knowledge here's how I would go about it:
1) Find out who owns the budgeting and forecasting process for your IT organization. If you can become involved in that process and make connections with the Finance resource who owns the activities in this function, you can build a knowledge of the FP&A process in an area you're familiar with and potentially make the necessary connections to move into this role
or (and the better option)
2) Try to align your IT projects with FP&A. FP&A is only as good as the tools and data which they are leveraging. Understand the EPM tools your company is using and who owns these tools. Are there projects underway to revamp or improve the current EPM suite? Is your company still doing FP&A out of spreadsheets, if so why? Make a proposal to implement Hyperion or BPC. Already using one of these tools? What about upgrading to dashboarding and predictive analytics.
Honestly - I think step two is the best approach, many FP&A organizations will have a systems expert sitting within their organization. You can even use suggestion 1 to understand the process and then use the information you gain to build your case for suggestion 2.
Given the depth of your experience in IT, you're going to have a hard time finding a role in FP&A which you can transition to and will pay you what you are probably accustomed to.
What excites you about the prospect of FP&A? There might be something else you can consider which leverages similar skills and would be an easier transition at your level.
For instance, if you love the potential to influence change in the business and prepare models then consulting might be for you.
Going from IT to FP&A seems like a big step back from most mid-level IT jobs.
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