Please Help me weigh this offer (IR/RE vs CF) (long)


I am in Wealth Management.

I want to do FP&A because:

  • I'm more analytical
  • I like the structure of the career path & the abundance of opportunities
  • I like the geographic & industry flexibility

BUT I don't know how qualified I am for FP&A. People on here said that I may have a shot at an entry level role.

I definitely want to leave Wealth Management (at least the building my own book part).

I haven't aggressively networked yet, but I have mass applied for roles. Got almost 0 traction so far for FP&A. Some traction at WM firms where I don't have to build my own book, and 1 unique opportunity:

an Investor Relations offer from a crowdfunded Real Estate startup. Comp similar to what I'm making now, but I don't know if I would like: a) the Real Estate industry (if I can even continue to move up in the industry) and b) Investor Relations (if this role even allows me to move around different IR positions, like F500) and c) If this decision is reversible to where I can go to FP&A after this gig.


Any advice? I guess the main thing driving me is getting away from WM, but only if this opportunity could lead to FP&A or SOMETHING I like down the road.


Thank You!

 
Most Helpful

How many years of experience do you have? If you're looking for an entry level FP&A role, don't overestimate what it takes to be qualified. Plenty of companies will hire FP&A analysts out of college. You could probably land an Analyst II role if you can show that you are familiar with excel and tracking down/explaining variances.

Be careful though- FP&A can indeed be an analytical role, but in companies or business units that are well established, there will likely be files that sort the actuals for the period and just need some simple refreshing to give you all your variances.. without anything too novel going on, FP&A can feel very robotic at the analyst level.

An IR role isn't a bad gig to break into corporate- I did an internship in IR and got to take investment analysts on plant tours, go to bank sponsored breakfasts/lunches. If I was full time there would have been some neat travel opportunities. I remember showing up to work in my full time job and my only prior experience was in IR.. I was wondering where I should hang my suit coat in case any customers/investors came by. I learned pretty quickly that it simply doesn't happen- you are the total opposite of "client facing" unless you are in IR or CD. One of my coworkers spent a few years in IR before getting into FP&A- he said he got neat perks like tickets to MLB games, meals, travel. On top of that, you are brushing shoulders with some high-level people in the company, so that's a big plus.

Anyway, I'd keep searching for FP&A roles. If you can't find any good leads, the IR role is a great intermediate step in that direction.

 

Thank you so much for your response! I am 2.5 years into my career in WM. 
 

Lol at your experiences in IR then CF. Although WM is not as prestigious as IR, so much of our experience is similar when it comes to always being ready for client facing opportunities, especially on a larger team.

To be quite honest, I don't know if that's where I thrive (right now) and welcome an opportunity to "take a backseat" and being part of a larger organization, really setting myself up for a guaranteed, stable career path as opposed to the more risky/uncertain/volatile one I am in right now. 

The position that I just got an offer for is a startup, so after a super helpful user in the RE part of these forums helped explain, and after my interviews, I've learned that this role is very niche compared to typical corp IR roles. I will be mainly dealing with individual investors, and this role may not be as translatable to typical corp IR, or corp fin, but instead more translatable to the world of private capital raising, startups, VCs, and some non traded REITs, and some HFs, etc.

Because of the above facts, as well as my desire for a true stable career path, I am inclined to reject this offer and aggressively focus on networking for FP&A opportunities over the next 3 months or so. I haven't had luck with cold applications, yet.

What's your reasoning for continuing to look for FP&A opportunities? I am inclined to agree for my reasons above.

Can I PM you a couple things.. I think the two things that would really help me to firm my decision which I am already inclined to is.. a) my chances of getting into FP&A, and b) the nature of this particular offer.

I'd really appreciate it! Thanks

 

Feel free to send me a PM.

I don't know if I'd say PWM is less prestigious than IR.. I can tell you that getting a steady paycheck is nice, but there isnt a way to directly dial up ones income.. Some days I feel motivated to go out there and crush it, but there is only so much work that can be done.. only so many ad hoc questions that need answering. I can't bust my butt to get more clients, I have to continue with the process and work toward a promo in the future. Some days I dream about jumping in to PWM, building a book, and getting to a point down the road where I can golf all day with clients. Grass is always greener I guess.

Anyway, FP&A isn't terribly hard to get into. Structure your resume to talk about forecasting, analyzing variances from forecast, excel, working with people, the dollar figures you've worked with, etc. Personal budgeting and long term forecasting are very similar to FP&A and you can spin your resume to show your experience. Use the WSO resume template- I've had great luck with it. Tailor your resume to the job descriptions you are applying for.

Often times FP&A roles are not called "FP&A analyst" and just have the more generic title "Financial Analyst". Look through the job description to find mentions of forecasting, variance analysis, budgeting, planning, etc and that should tip you off. Almost all financial analyst roles are some form of FP&A, whether it is more focused on the "FP" side or the "A".

 

Non voluptatum accusantium ea voluptatem. Mollitia voluptatem facere voluptatem amet. Dolorum optio adipisci possimus ullam.

Non excepturi commodi qui. Corporis repellendus placeat aut. Provident dolores quia error sunt aut porro quo.

Sequi quisquam quasi facere ratione. Ullam laborum quis veniam sed velit. Aut totam quia repudiandae corporis optio. Corrupti eos cupiditate perspiciatis ipsa fugiat et. Accusantium ut eos aut est. Illo reiciendis porro facere vero et consequatur.

Consequatur veritatis repudiandae pariatur perspiciatis. Perspiciatis et quam commodi sit tempore deserunt rerum. Minus vitae dignissimos sunt qui cupiditate eos explicabo doloremque. Et necessitatibus commodi aut odit.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
CompBanker's picture
CompBanker
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”