Moving from CorpDev to FP&A?
I've seen a lot of posts about FP&A folks breaking into M&A via CorpDev, but what about the other way around? I have 9+ years experience (2y MM IB, 5y public CorpDev, 2y PE portco CorpDev) and I'm wondering if there's a path to move into a Director-level FP&A / strategic finance role? I'm confident in my ability to do the work, but not sure if I can stand out against a sea of candidates with years of traditional FP&A work.
I'm open to making the move for a few reasons: 1) I was impacted by tech layoffs, and mid-senior level CorpDev roles are hard to come by, 2) I like the potential for a path to CFO down the line, and 3) I think I might actually enjoy the work and I don't mind taking a slight pay cut in exchange for more predictable hours.
Based on the most helpful WSO content, moving from Corporate Development (CorpDev) to Financial Planning & Analysis (FP&A) is indeed a path that some professionals take. Here are some insights that might help you navigate this transition:
Leverage Your Experience: Your background in M&A and CorpDev has likely equipped you with a strong understanding of strategic decision-making, which is valuable in FP&A. Highlight how your experience can contribute to strategic finance roles, emphasizing your analytical skills and understanding of the company's financial drivers.
CFO Aspiration: It's noted in the WSO threads that many CFOs have a background in FP&A, as it's closely aligned with the core responsibilities of a CFO. Your interest in eventually becoming a CFO aligns well with a move to FP&A, as it can provide a comprehensive view of the company's financial health and strategic planning.
Diversity of Experience: Having a diverse background can be an asset. It's mentioned that a diversity of experiences is good, and if you can position your CorpDev experience as bringing a unique perspective to FP&A, that could set you apart from candidates with a more traditional FP&A background.
Internal Moves: If you're already within a company, internal moves can sometimes be easier to navigate. It's been observed that professionals with strong internal relationships and a good reputation can often transition into different roles within the same company.
Networking: As with any job transition, networking is key. Reach out to your contacts, let them know you're interested in moving into FP&A, and seek their advice or assistance. Having a mentor in a senior FP&A role can also be beneficial, as they can provide guidance and potentially advocate for you.
Tailor Your Resume: When applying for FP&A roles, tailor your resume to highlight the relevant skills and experiences that align with FP&A responsibilities. Focus on your strategic thinking, financial modeling, and any experience you have with budgeting, forecasting, and variance analysis.
Be Prepared to Explain: Be ready to articulate why you want to move into FP&A and how your previous experience will add value to the role. Address any concerns about your transition proactively in your cover letter and interviews.
Remember, while your path may not be the traditional one, your unique experience in CorpDev and PE could provide a fresh perspective that is valuable in an FP&A context. It's all about positioning your skills and experience in a way that aligns with the strategic finance objectives of the FP&A role you're targeting.
Sources: The Other Road: Corporate Development Associate Fielding Questions, Q&A: F500 Director of FP&A, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Anyone do both FP&A and Corp Strat or Dev?, Compensation Structure at the mid-management level in Corporate Development / Strategy / Finance
Haven't been in a position where I've personally pivoted. That said, the person that was previously in my role (Corp Dev, same company) actually left the position to do an internal transition to the finance BU (to go through the CFO route).
I think you definitely have flexibility to move over to FP&A if you have the skillsets (e.g., modeling, accounting/finance background). On top of that, not sure of your processes, but we interact pretty frequently with the finance people when there is a business case. These experiences/interactions should help you have some rapport/relationship with some of the people in finance, so definitely leverage that. Hope this helps provide a perspective!
Thank you for the reply! This is helpful perspective. It seems like making the transition and a lateral move internally is probably the most direct path.
I was a director on my company's corpdev team for ~5 years, but moved to lead our FP&A team recently (vp). total of around 8 years of experience.
Broadly I'd say if your corpdev experience got into the weeds beyond the usual valuation and forecasting kit and into like post-merger integration, really understanding how the business worked, then it's a pretty natural transition. The biggest thing IMO is managing bigger teams and having tm manage a real org and build out processes and things that you do on a regular monthly/quarterly cadence. There's also frankly a flavor of working with people that are not quite the same caliber in CD/PE/IB, as well.
Thanks for the reply. I do have some experience getting into the weeds with FP&A on budgeting and integration tracking, which is helpful. It may be a hard sell for me to get into a FP&A role that has a large number of direct reports, since corp dev is often an individual contributor role, even at more senior levels.
I was laid off at a corpdev role last year where I almost did no modeling to a strategic finance / FP&A role at a portco. I think some things that helped me out were:
When interviewing around for my current role the jobs that I aligned more with were strategic finance / FP&A roles where there were lean teams where different hats were required. I think the general experience / quality of candidates of IB / CD etc. to tackle the unknown / ambiguity was more fitting for these roles. In fact a lot of roles (like my current one) specifically called out for past IB experience or the like.
That being said I don't have a lot of experience people managing or working in more typical roles at larger corporations. For example, I was disqualified from some roles where they needed someone to people manage a couple of analysts. In another role I was disqualified as I didn't have enough specific experience projecting out sales team expenses, close rates, etc. which would be 90% of the role.
In the end you'll just have to find roles you'll slot into. TBH the roles you'll fit into more are probably going to be the most interesting and pay more competitively.
Dignissimos eaque ut vero officiis. Corporis voluptatum ipsa similique. Ut et ea nam accusamus necessitatibus. Et voluptatem expedita repellendus. Ea enim blanditiis aut illo illum rem sunt. Corrupti qui autem laborum.
Eveniet ipsum odit voluptatem consectetur tempore quia facere. Sit aut nesciunt sit ullam commodi sunt accusamus. Perferendis non dignissimos est.
Id accusamus voluptatibus similique in. Quaerat autem ad neque autem eum nihil recusandae nostrum. Inventore explicabo officiis repellendus accusamus rerum quo illum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...