How to Improve FP&A Skills Amidst Furlough
Hi everyone,
I graduated in December 2019, and after interning for two years I landed a spot in my companies FLDP. My first rotation was in the FP&A department. I really enjoyed this role and although I still have a couple of rotations to go after this one I think FP&A is what I'd like to do after finishing the program. I was recently furloughed for 2 months as a result of COVID-19. Home bound and with nothing to do, I'm looking for ways to improve my skills in Corporate Finance and more specifically in FP&A so I can come out of this situation with something positive. I'm hoping to get some suggestions on the best things that I can do from home to improve myself professionally. I'm happy where I am, so generally my focus is to improve my effectiveness rather than my marketability.
I have an undergraduate degree in Finance and no certifications. I am somewhere in between beginner and intermediate in VBA, and I have been actively working to improve these skills. Other than VBA, any suggestions on what I can do to best improve my skills coming out of this furlough? Whether it be certifications or something else I am open to any and all suggestions.
Thanks!
Not sure how relevant it would be, but programming is always helpful.
Python would be a good starting point, and especially in a corporate finance SQL would also be helpful.
I'd say stay on top of your excel skills and continue to learn the ins and outs of the 3 statements. Wouldn't hurt to spread some financials and read through your company's (or competitors 10Ks) as well. Stay positive !
I work FP&A in Pharma, graduated May 2020. I would say VBA and SQL have been extremely helpful in automating tasks. Python is good as well, but I have not found a lot of use for it.
Hope this helps.
How do you automate tasks with SQL? Isn't it basically just querying a database? From what I understand, it's not like Python where you're running scripts on objects.
I use SQL to pull directly from our databases as opposed to using third party software (Hyperion, micro strategy, etc.) to “write” the queries.
I think you are able to get to much more of a granular level of detail.
Sorry to hear - I'm surprised that they would furlough an FLDP Analyst but maybe I'm being naive. What industry?
I haven't used them in the past but I myself am trying to learn SQL. I'd recommend that you work on your general excel and modelling skills. If you've never taken an excel crash course catered for finance, do it. Being the fastest at excel/modelling will make you stand out in an FP&A setting. Also take a class on monthly cash flow modelling - feel free to PM me for recommendations.
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