Would You Take This Position?
Monkeys, I am a senior in college and this company has asked me to replace their current treasurer/CFO. This position has a few job titles (treasurer, CFO, head of finance, controller), which are cool, but not too important to me. Basically I would be in charge of accounting/finance. Private company with 50mm revenue. I think the exit ops would be good considering high level financial management.
What do y'all think? Would you take a position like this?
Where do you go to school.
Asking a mediocre college grad from Temple to be the CFO of a 50mm rev company would be a bit insane and questionable.
If you're a target grad with great EC's, industry experience then it is still weird but not unimaginable.
Also depends, is it about 50mm rev or 50mm as in it could be a 1mm rev "company".
I'd be real skeptical of any company offering a head of finance position to a college senior...
Yeah this whole scenario sounds odd.
How are you head of finance and who is under you? Or is it just 1 person in finance and you're the head of it?
Anyway, if you do take this position and you are actually CFO or something with people under you, just know that the weight of being a CFO is more of a make it or break it kind of role even if it is early in your career. Meaning that in an IB analyst position or something yeah maybe you fuck up some pitchbooks, but they get the deal and its ok. No one even really noticed. As a CFO, you could potentially fuck up this whole company. Then no one will touch your resume. So even if it is a junior CFO role, you need to know from the start that you are taking on a leadership role in the company and are responsible somewhat for its future.
Maybe the CEO already does all the CFO functions and wants to groom you for the role. This would probably be the best case. If they are taking you on and think you know what to do because you have a 'business degree', well things might not turn out that well. If you take the role, do your research and even start to come up with a 5 year plan, drivers for growth and increased volume, and cost/profitability analysis. The answers aren't always clear cut in the real world (versus academics) and marketing mistakes can sometimes break a company, so be careful. Know what you are getting into and your responsibilities from the start.
This perspective is what I was looking for.
Thanks!
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