Lifestyle & Hours in Corporate Finance
We've heard so much in this forum about the lifestyle and hours in IB/PE/HF/CO/etc., but little have been covered for corporate finance.
I'll start on this. On average: 70hours/week (excluding commuting/lunch). 85hours/week (including 2hrs for 2-way commuting & 1hr lunch). Industry: FMCG/Tech/Retailer.
To be honest, I was expecting less before I entered the industry. What are yours?
The only way CF hours can be upwards of 70+ are if
A) your systems are so archaic that you have to do significant amounts of offline work during your reporting periods or
B) your executives are so dense that they demand work to be done on unrealistic timelines (like a client) and don't have good leadership to allow their direct reports the freedom to push back or
C) you are terribly inefficient at your job
I work for a F50 conglomerate, and came in through their LDP. I've never pushed 70 hours, had handfuls of 60 hour weeks, and mostly average 45-50. I've gotten promoted on schedule and have met or exceeded my bonus target each year. Our systems are pretty good for the size of the company, and I've always worked under people who encourage you to take ownership for your time and allow you to push back when necessary. That's a skill that will ruin you if you cannot do that. Wall street is different, I get it, but in the corporate side of things, you have to master when to say no.
This is not to boast, it is to illustrate that the hours conversation is always dependent on where and who you work for.
Is there any chance of breaking into corporate finance from TAS? I left audit after 2 busy seasons to work in FDD at another firm, but my long-term goal is to get into corporate finance in a non-financial reporting and more of a decision-making or decision-support role. Is FDD still applicable to FP&A, or will I not be considered as having the accounting chops to make the move? FWIW, I passed the CPA exams as well and am working on getting the sign-off and passing ethics to get the official license.