PWM to CFO?
Hi WSO,
Here is my situation: I'm a 2013 grad from a non target, economics major, work in BB PWM, 3.2 gpa, great EC's. Ultimately I want to be a CFO because it allows me to:
1. work with companies
2. Help build something from the start to finish, should I join a startup
3. great mix between sales, investor relations, and a hard skill
What is the best path in accomplishing this? I put my stats because I was thinking about doing a master in accounting -> audit -> corp fin -> startup
Ultimately, I want to work within the life science/biotech industry and although I am learning a lot in PWM i'm just not happy because I see myself working in life sciences. Is an MBA in the future, then ib? or maybe a master in accounting? or night classes in accounting?
What are your thoughts? IB would be interesting but not sure if I have the grades and work experience for a top mba.
I think you may have some misconceptions of what a CFO actually does. The CFO is usually a more internally focused role so it's not really about working with other companies or selling, outside of dealing with banks/lenders/investors.
Most startups don't really have a need for the CFO function. The person in charge of finance usually does other things as well. This might be more of the role you are looking for, but it usually is more of a jack-of-all trades business role that does include things like selling, strategy, fundraising, etc. There are pretty minimal finance needs at an early stage startup, particularly those that are pre-revenue. As a startup grows, it is usually a controller that runs the books. Often times the general business needs are covered by the CEO or COO, depending on the management structure of the company.
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