At that level do you get P&L responsibility in Corporate Finance?

nbd786's picture
Rank: Senior Monkey | 87

From what I've read, having P&L responsibility is the goal when climbing the finance ladder as it leads to having responsibility of segments with higher revenue with every promotion (if you perform well) and can lead to the CFO spot in an ideal world. I've seen on LinkedIn that Finance Managers of some Fortune 1000 companies get P&L responsibility, but what about in the F500 realm?

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Aug 14, 2018

I'm at one of the four big A&D companies- We have a CFO that leads the entire company, and then CFOs for our business units (they are technically VPs), and then directors for each product line within the BUs, and managers leading each "grouping" of contracts, and then analysts assigned to each contracts. An example of the director/manager relationship is that the director might lead the product line that makes sensors, a manager under him leads the "land sensors" group, another manager leads the "air sensors" group, and another manager leads the "space sensors" group.

I'd say that the managers get some P&L responsibility but have to clear most decisions with their director (who leads the entire product line). The director is much more autonomous and often times just briefs the BU CFO on his decisions rather than needing approval.

In summary: Company CFO -> Business unit CFO/VP -> Product line Director -> Group Manager -> Analysts

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Aug 27, 2018
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