Non-Target Looking to Break Into FP&A at Large Firm

Hi all (note: tl;dr version at bottom),

So basically, I'm a recent grad who wants to work in FP&A and I am looking for advice about what my next steps should be given that my ultimate goal is to work in FP&A for a large firm. Right now, I have a job as a financial analyst for a small company, which I really want to get out of, and am also doing pseudo-equity research on a project basis for another company from home (basically, if they have a stock in mind or need a stock in a certain industry, I do some fundamental analysis, put together a report, and then make a recommendation), but I want to move onto a larger firm doing FP&A work.

I have been considering a couple of options and wanted advice on what the best path to pursue this goal is. One path that I have been considering recently is taking the GMAT, getting masters in accounting (even though my UG background is in Finance), and then taking the CPA after the masters. Since I have an interest in becoming controller or VP of Finance, this would also be potentially relevant to future roles and I can always get an MBA later. The flaw with this path is that I know I wouldn't want to work in public accounting outside of Big 4, and I run the risk of doing the program, wasting a year in tuition/opportunity cost and then not working for the Big 4 and being in the exact same predicament I am in now.

Otherwise, I am also (while studying for the GMAT), looking to lateral as much as possible. I have a couple of family friends who have offered to forward my resume, but they said that both of their firms are on hiring freezes right now, so I need to expand my options. I was wondering if anyone has tips for contacting companies and getting my name out there because applying online alone isn't doing anything for me. There are lots of firms that do not have alumni from my school working there, but I want to get in touch with and I need help getting my name out there/in the right hands even if I am not in the same state.

So if anyone has advice on which path would be best (stick with my job and do the CPA or keep trying to lateral), I'd really appreciate it.

Thankis!

TL;DR
-Recent grad working for small company, hoping to move into larger company in FP&A role
-Studying for GMAT while working and considering opting for a MAcc and then CPA
-CPA may be relevant for goals (VP of Finance/Financial Controller), but it's a wasted year of tuition/opp cost if it does not add much value
-Also don't want to work in public accounting outside of Big 4 (due to limited ops), run risk of not getting B4 offer, wasting a year, being stuck in the same spot with a credential that may not help much.
-Simultaneously trying to lateral and have a couple of leads but need to expand net
-Wondering how to get in touch with companies I want to work for that aren't in my region and do not have alumni within them
-Need advice on which path to take (CPA v focusing on laterals)
-Thanks

 

Stick with your job and get the CPA. Assuming your GPA wasn't too horrendous, the Big 4 will jump on someone with a MAcc, CPA, and a couple years of accounting experience. Even if you don't go the Big 4 route, the CPA in particular with dramatically increase your opportunities. You could even go directly to F500 FP&A and skip the Big 4 altogether, although you may not necessarily get into the type of FP&A you were hoping for.

"Financial analysts" with some experience at a small company are a dime a dozen. The CPA immediately makes you a valuable commodity.

 
808:
Stick with your job and get the CPA. Assuming your GPA wasn't too horrendous, the Big 4 will jump on someone with a MAcc, CPA, and a couple years of accounting experience. Even if you don't go the Big 4 route, the CPA in particular with dramatically increase your opportunities. You could even go directly to F500 FP&A and skip the Big 4 altogether, although you may not necessarily get into the type of FP&A you were hoping for.

"Financial analysts" with some experience at a small company are a dime a dozen. The CPA immediately makes you a valuable commodity.

Thanks a lot for the response. I have a followup question if you don't mind?

I am certainly interested in the CPA as I think it's a valuable credential to becoming a CFO, however, my biggest concern if I pursue that route is not getting into the Big 4 after my Macc and working for a second-tier or regional firm. I don't want to sound like an elitist, but a lot of job postings I have seen say that they "strongly prefer" big 4 backgrounds and I was wondering how limiting it would be to move from public to private accounting from a non-big 4 background? I know that in terms of resume, I am competitive, but honestly, I am a bit lacking in the soft skills department currently (working hard to improve) and I have seen lots of kids with very average credentials (i.e. 3.4 GPA or below, few or no ECs) getting in over kids smarter than I am, which means that it won't be a slam dunk. Do you have any idea how much of a hindrance a lack of a Big 4 background would be?

Also, this is just a general inquiry, but would anyone be willing to look at my resume via PM so I can get a feel for how competitive I would be for F500 jobs?

 

Do you know anyone in Big 4? If so, get them to introduce you to the HR rep and make that connection - your blog seems to be well written, so what is weak about your 'soft-skills' are you awkward or something?

I wouldn't necessarily reccomend to anyone that they go back and get their 5th year in accy, unless of course they are set on a career in accounting / hope to jump on the accy --> controller --> CFO, etc. train.

If you can't get into FP&A w/o getting your 5th year, and you are certain you want to take that career route, then it might be worth it to go back to get that extra year. I would just make sure you have a plan of attack to get into a big 4 - if your grades are weak, you'll need to really network, etc.

My grades were shit undergrad, and I did very well in my 5th year accy and was able to land a big 4 gig.

Everyone likes to bash the Big 4, but if you are an average white male, it is not exactly easy to get an offer. I get e-mail updates from my firm about recruting at my school and it seems like the only kids we take have 3.6+ GPAs - unless of course you are 'diverse', which big 4 just loves.

Why don't you just post your resume to the resume board and black out all your info, i'd be happy to look @ it.

 
Best Response

My assumption was that the MAcc was necessary in order to achieve the required number of accounting credits for the CPA. If not, then I agree with Mr. B. - don't waste your time on the MAcc and go straight for the CPA.

Going into a regional firm won't limit your chances. One of my friends worked at a regional firm straight out of college, stayed for about 4 or 5 years, didn't make manager, left to be a controller at a $45 million company, and became VP Finance with a few months. The company got significantly bigger and he cashed out on the acquisition to a larger company. You can do very well from a regional firm. In addition, it seems to me that it is very easy to go from a regional firm to a Big 4 after you have a couple years of experience.

The only soft skill you need is the ability to not be awkward. Don't "work on" your soft skills; if you're worried about this, just get out of the house and meet people - nothing to work on. In the words of one Big 4 hiring director, the key to getting into the Big 4 is "Don't suck." You have to have good grades and be reasonably intelligent, but it's not rocket science.

Post your resume in the WSO resume forum. I will also be posting a general accounting resume advice post in the Big 4 accounting group in the near future.

 

Hi,

Thanks everyone for the responses. In regards to the 5th year, I would be needing it as I do not have 150 hours and need more upper-level accounting courses to sit for the CPA in most states. The CPA, btw, isn't just something I'd be doing for the hell of it because I can't find a job I like. I have always had some interest in accounting, it's just that during UG, I was more drawn to corp fin than public accounting, and I was clueless about the fact that corporate finance has more to do with accounting than traditional finance (big mistake on my part).

Regarding GPA and softs. My GPA isn't too bad (a little above 3.7), but I know that I can do better. Up until my senior year, I used to be a loser and gave up really easily when things didn't go my way. So when I didn't get the dream internship my soph/junior years, I would sulk and similarly, when I didn't do as well on a midterm as I hoped for, I would give up almost costing me a bit in my GPA. I also never went out and socialized (only started partying my senior year sadly), but I now have a newfound work ethic and at least know how to socialize a bit better, so while I can't change my past, I can hopefully do better in grad school if I pursue that route. I'm still a bit weak in terms of personality, but I am trying to work on it and am actively trying to be more social to give myself more opportunities to improve.

I hope that clears things up. I can't work on my resume right now since I'm at work, but I can post something up later tonight when I get off.

 

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