How to prep for FP&A Interviews
Hey folks,
In my recent job search I have beet targeting a lot of financial analyst roles (Preferably in high tech or healthcare) to use industry experience and my education qualifications/CFA to break into ER. But I have been less successful with FP&A interviews in comparison to more intense IB interviews and wanted to get some tips.
I often get asked what kind of modeling I have been part of, to which I mention the typical modeling for IB (connecting 3S, comps/DCF valuation, etc). I have also done variance and Price-Volume-Cost analysis in an FP&A course. How else are FP&A roles different? I know people in FP&A usually work with a single BU but the forecasting methodology shouldn't be any different, right?
Also, I always seem to come up short in terms of experience. Most FP&A roles require 2+ financial experience and prefer CPA's. But they almost always mention that they like IB/consulting experience (Which seem to be fundamentally different). I have internships in these fields and a masters degree in finance, but my hit rate has been much lower than for IB interviews. Am I doing something wrong?
Lastly, are there any resources that I can learn financial analysis for FP&A? (Similar to WSP for IB)
Thanks in advance
Coke Bump
Coming from someone in fp&a I would highlight your ability to model not just in specific terms but if you are good at modeling you can improve their processes. Also focus less on technical how can I do this and more on wanting to learn an industry and answer a companies biggest questions. Fit is a big part of fp&a because your going to work on a lean team and deal with all the wtf moments together you have to be on the same page. Fp&a isn’t rocket science you just need to be down to earth and show your willing to be a team player!
Thanks really helpful. How would you recommend me to go about the competition for jobs that require 2-3 years of experience while I mostly have internships in non-FP&A roles (small VC and corp strategy), along with a masters degree with a high GPA. I know that I got what it takes, especially when it comes to answering the company's biggest questions that you mentioned, but people often go with candidates who have the specific industry experience on paper.
Convince 1 person your are worth the risk. I know that is over simplified but coming out of FLDP I convinced someone to give me a senior financial analyst role when they were looking for 4-6 with a heavy emphasis on the 6 years and I had 2.
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