I'm currently a college junior studying Finance and Marketing. I'll be going into Investment banking at Bank of America Merrill Lynch next summer hopefully in Mergers & Acquisitions or Consumer & Retail. My ultimate career goal is to become CEO or CFO of a major fashion company like Burberry, my question is how do I get there?
Trending Content
Career Resources
Well, start at Burberry at an entry level job, invent a product that will make them millions of dollars and then when you have their attention tell them what else to do and when it comes out right they will make you the ceo. Here is a helpful video:
do you really have a PASSION for FASHION?
Its really all I see myself doing. I have a genuine interest in finance and business strategy but fashion is really what I love.
CFOs know the operational aspect of businesses and know how to implement processes. IB is one small slice of finance and your analyst years really only prepare you to be a banker. By the time you are wrapping that up, PE guys like to recruit you because of pedigree and some knowledge of the deal process. But, it doesn't make you better equipped to become a CFO/CEO.
The best way to do it is to learn how to implement and lead in processes and work with company boards, investors, and other industry leaders. If you gain a strong, 10+ years' generalist understanding of finance, like implementing processes, budgeting, forecasting, financing operations, consolidation, etc., then that would be smart. Next, you just need to go work for startup/small companies and catalyze growth or be a big component to high growth. CFOs/CEOs of big companies like Burberry probably came over from being CEO/CFO of another company.
Thanks for responding! What type of role would give me the experience you mention other than a startup?
Don't work for a startup unless you're part of the bootstrapping/foundation/early stage of the company, and therefore will become the CFO from the start. Startups/small companies don't pay enough for people coming from BB backgrounds, so getting a job there would be impossible for you.
Think about it like this, banking/finance like PE is good for understanding shareholder/financer issues while CF/FP&A is better for understanding operational/internal issues. A career path to CEO/CFOs leaves you gunning for 1 spot of the 1000s of potentially qualified individuals. It will be more important to distinguish yourself somehow.
You just need to focus on getting some operational experience, most likely will want to do an MBA, and then work in a very critical role at a company, helping to successfully steer the company through huge challenges.
HBS
Also, toss in a little luck and pretty much good to go.
Start your own business..... Is this a trick question? That's the obvious answer
As far as at burberry goes, you're going to have to bust your ass
Is it really? Because most successful entrepreneurs have no interest joining another corporation except to be on the board of directors.
The clearest path forward for you would be to go from IB to a consumer focused PE fund that has some fashion companies. Get involved with those companies and hopefully move up in the fund to be placed on the boards of those companies. If one of the investments struggles, sometimes the PE fund will put someone from the fund into senior management...you then get an opportunity to build some operating experience.
oh boy i'm not sure if this would be the right place to dip in as your first rodeo. just personal opinion
I'm not sure that I understand your comment? I have had several friends move from their PE funds into C-level operational roles at portfolio companies. It has played out in a number of ways, but it's not uncommon. I am old for this site so most of the guys I'm talking about are ~40 and range from VP to principal to partner.
One of my best friends just took over as CEO to lead a portfolio company through its bankruptcy process. It was incredibly stressful, but he learned a lot. He was put in the role by his fund, and now he's actually getting compensated by the buyers out of bankruptcy who wanted him to stay in charge for continuity.
I'm just a college student and have no experience, however my father has been pretty successful throughout his career. I often discuss business with him and admire him a great deal. I'm not sure if this will be helpful for you, since you're in banking but... here's roughly his career path
Things to keep in mind: - Everywhere's he's been in a leadership position, he has created significant results - He's a good politician and has great relationships with everybody and maintains them. For example: in company of 4. his CEO fired peson X, and CEO said something like "X is too stupid for this level of business bla bla bla". My father was the only one to call X up (because other employees were scared of CEO) and tell him that he was sorry and that he wished him luck in his future career. 3 years later X calls him up and asks him if he wants to be COO of the company X is CEO of. - He has changed a lot between different companies but has roughly stayed within the same industry throughout his career
Nice idea. Keep it up. How you'll reach your goal.
I'm sorry but where is DickFuld ?
Why do you want to be a CEO of fashion company? Recently a headhunter asked me to help in financials of Burberry franchise in small country, and I didn't know why I'd work in fashion industry. Just for curiosity.
I like fashion because of the creative freedom that comes along with it. I see it as a small way that you can express yourself everyday and for me, I see this expression as a way for me to read and understand people better. I would like to be CEO of a firm because I want to be able to transform a company and take it to new levels under my direction. And superficially, I want to be the person who makes the decisions.
Burberry isn't a brand specifically known for 'expression'. They have only a few cookie cutter conservative designs.
I have a Burberry scarf and Burberry London cologne. That is the extent of Burberry products that I own. I don't feel that I am 'expressing' myself when I wear the scarf. Its a nice comfortable classic cashmere $300 scarf that is warm. It won't go out of style.
Anyway, based on this paragraph you have expressed, it honestly seems you are starry eyed for this brand for some reason. Maybe a parent was particularly fond of it or you received a special gift that allured you to the brand. If you really like fashion, I would explore a little more of the fashion companies or take a trip to NYC or Milan.
Actually, hit up NYC during fashion week. Tons of chicks. You'll get to see a lot of brands. Call it a 'life experience' for your future career.
Finally, you will need to move to and live in NYC. There is no other city where you will get exposure to fashion and business/finance enabling you to network a path for your future.
Path to becoming Hospital CEO for Stanford student (Originally Posted: 04/12/2016)
Hello all,
I recently committed to Stanford C/O 2020... I aspire to be a hospital CEO in the future and likely pursue and MBA before doing so. What are steps I can take in the right direction? What do hospital CEOs typically do before becoming appointed?
Thanks for all the help
if I were you, I'd look at some of the major hospital networks websites, there will be backgrounds on their leadership. there's no clear cut path, some people are MDs, some people are just businesspeople with no training as a doc. Google is your friend.
I did a lot of consulting work in hospitals. Fact of the matter is that if you're not an MD, you're nobody.
How can I become the CEO/CFO/director of a bank ? (Originally Posted: 02/10/2018)
I'm talking about a "normal" bank, so not necessarily an investment bank. Which kind of job would be best to start off once I graduate from university ?
Commercial employee who gives out loans to customers ? Can they climb up the ladder over time ?
An analyst ? Maybe investment analyst or something ?
An auditor in financial institutions ? (big4)
Maybe something else ?
I have no clue, anyone have more information about this please ?
Loan underwriting is the crux of banking. And the most valuable skill. Maybe focus on a commercial bank so you're dealing with companies instead of individual borrowers
CPA, CFA or MBA. Will add to your credibility.
Becoming a CEO (Originally Posted: 01/23/2008)
What do you guys think would be the best path towards becoming a C-level exec at a startup company or something similar? I am open to anything - Banking, GE FMP type gigs, Consulting, MBA, etc. I know there is no set route, but I am just interested in getting everyones perspective on this and exploring different ideas.
MBB
MIB
PMS
BSD
CFA
TMI
LOL
WTF
GFY
FUK!!! haha come on guys
a few paths. this is something i've thought about, so here's what i've been told.
all involve a trip to HBS/GSB or the ilk, with the exception of GE.
1 - MBB, HBS/GSB, MBB or revenue generating function, VP level - some combination of that
2 - Industry, in revenue generating all the way
3 - GE in management training program
What do you mean by revenue generating? The front office?
Also, how would those paths compare in terms of results? Which would be the best way, in your opinion?
exactly, revenue generating is the core of the business. that could run the gamut from being at a bank and working in legal. to the fact that next CEO of Microsoft will probably be from either their consumer or business/enterprise divisions and not entertainment. that is not to say that the head of entertainment can't be CEO one day, but the scale of the division is to small the bypass the heads of the significantly larger guys. (this all said there are more dynamics, like he should be younger and can move to the bigger roles, etc).
i listed those paths, as from my discussions they are generally the ideal mix of speed, compensation, status and expected outcome. for example, you can go work in a company and have a dick boss who rides you up the ladder (albeit taking you with him), but when you're the smart one.
if you're in college, think more about where you can go to learn the most and increase your option value. pm me with any specific question.
The best way to do what you want is to do what you want. Join a startup or found one yourself. That's the best way to get to a high-level position at one.
The atmosphere in finance/consulting and responsibilities of consultants, bankers etc. are completely different from what you have in a startup. A startup by its very nature is highly unstructured if it is early stage (so we're not talking Facebook here) and people need to step up and take on duties well beyond what they signed up for.
Finance, by contrast, is extremely structured (well, at least banking/PE are). Analysts will never be doing MD-level work, e.g. developing relationships. In some ways it prepares you for a C-level job, e.g. familiarity with dealmaking and financial analysis, but people in finance tend to stay in finance.
So if you want to become a startup exec, go join a fast-growing, early-stage one.
Dosk, thank you for your advice. My aim is to join a fast-growing, early-stage startup company. Although I feel that I could be a good banker, I don't think it would be the best fit with my talents and passions. I have always been a more well-rounded person than a specialist, and I want to continue to develop myself in a diverse manner. I would want a job where I do a lot of different tasks every day, have to improvise and be resourceful, and be under a lot of pressure. I am attracted to banking because of the pressure component, as well as the prestige and the people in it that I've met. I still want to work as a summer analyst for the experience, to really see what it's like, as well as proving to myself that I can do it. But for the long term, I am open to any path that would optimally position (as well as prepare) myself for a job at a startup.
I am curious -
1) What pre-requisite experience would be needed for such a position?
2) Where could I find these kind of opportunities?
Nulla commodi quia veniam et voluptatem. Eum exercitationem nihil ad laborum. Fugiat unde ipsam recusandae non vel.
Officia quia dicta nesciunt delectus et sunt possimus aut. Quia sed quia veritatis possimus excepturi debitis quia illum. Dolorem et sunt nulla sequi. Consequuntur quidem voluptate totam temporibus exercitationem ut. Reiciendis alias rerum qui aut inventore. Illo non molestiae eaque soluta quas qui dignissimos. Occaecati est minima laudantium ut reiciendis qui qui.
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...
Repudiandae odit praesentium odit laboriosam dolorem. Quis vitae est temporibus aliquam reprehenderit. In repellendus autem voluptatum sit perspiciatis doloribus sunt.
Itaque ipsam laudantium magnam accusantium culpa non. Unde beatae facilis facilis et dolorem. Neque et ut ipsa autem quas. Quis non qui officia voluptates est nostrum vel numquam.
Velit molestiae debitis et commodi consequatur est eius. Accusantium ipsa doloremque aut et. Esse et nesciunt autem. Sed ut veritatis deserunt vero maxime. Quo sed fugit accusantium alias ea quia laboriosam. Est voluptate fuga excepturi nisi asperiores. Quisquam doloremque aspernatur ratione consequatur necessitatibus et rerum.
Sint omnis est cupiditate earum ut et. Debitis suscipit libero quae eos dolorum. Molestiae id mollitia rerum accusamus officia dolor.
Nobis et ullam sunt sed. At rerum et recusandae sit velit. Nesciunt eius quia voluptas dolorem rem.