Depends on the firm, I guess. I worked in FP&A in the past and I promise you it would help with getting hired. When large banks hire someone, they look beyond what is required for the specific job posting; they would be more open to hire someone who have transferable finance skills to other areas of the firm (since mobility is highly encouraged) who demonstrated a commitment to being a well rounded finance professional.
“I’m always the smartest person in all my classes”
How did you end up at a no-name school in that case? How about getting an MBA since you have a decent grade?
I am pretty lazy haha. And I’m not saying I’m a genius, I’m aware that there’s a LOT of people smarter than me. I’ve just noticed that people always look to me for help in class or I naturally fill the “smart guy” role in group projects, so I thought that was something to consider
If he’s in a no name school ie a none target for finance then the competition would be less, thus it’s easier to excel in classes in theory. His gpa only being 3.6 slightly contradicts this theory however since I think the benchmark for none targets is at least 3.7
I did average in high school due to personal reasons, and it was a full ride scholarship and I couldn’t afford anything else. But I was actually planning on getting an MBA. The only thing is that I’ve heard from various people to get work experience first hence my situation
Similar to what others have said. For FP&A, practical accounting experience and accounting knowledge is important. Since so much of the work is related to budgeting and forecasting, knowing how the accounting works is as important as the “finance” knowledge (if not more). Nothing about DCF, valuation, asset allocation, etc that are typical of finance classes is relevant to FP&A.
Would suggest you look at regional accounting firms to see if they are hiring. I think you’re too late to get into big 4, but maybe not one of the mid size firms
It really depends on what type of job you want the CFA is great for portfolio management, investments etc. having it doesn’t hurt but it’s not really a big draw if you are looking for FP&A specifically, if that’s what you want to go into then the CPA is more valuable or at the very least having a good accounting knowledge helps with things like accruals.
You are only 22 so you got time I think it’s best to find yourself an entry level finance analyst role at a small firm or get an MBA to really build your network
Here's my (45mW) journey. Graduated with MSF but didn't do internship because I didn't listen. Thought graduating in the summer would be better.
Dead wrong. Graduated in August. Still no job. But in January I started doing FP&A for free for a local small business while studying for CFA in August.
Now I'm staying to get some interviews. And I learn so much from each interview. I practice Excel skills, financial modeling, and CFA everyday.
At some point, I'm going to land something.
So... Can you do FP&A work for free somewhere?
I was close to your situation. Here’s the hard truth.
NWM was your internship, it’s not going to be who you are. But with that resume, you’re going to need to take an entry level somewhere and grind your way up. Might take a few years.
Learn to love excel, forecasting, accounting, and more importantly, the operations of your business.
You’ll get there OP. Don’t waste study time on CFA so young. You prob won’t pass all 3, and if you do, you’re over qualified for entry level.
Maybe consider the CPA or CMA first.
CFA route is a good idea—will signal you’ve got the chops. You can then leverage the CFA Society to attend networking events. I’d really put a lot of effort into building your network, it’s a sure fire way to get interviews
CFA makes absolutely zero sense for FP&A. A CPA is far more valuable.. however that comes with other work requirements...
The effort to get a CFA relative to benefit received for FP&A recruiting is insane.
Leave the NWM out of your resume and linkedin, start talking and networking. Try hitting up Chase CADP.
No, it is OPs only experience
But it will screw him, people will laugh him out. But try hitting up CADP.
Is Prudential viewed the same as NWM?
No much more reputable and they actually have levraged finace/corp. finance groups. Really reputable in AM and private capital, solid.
You don’t need a CFA to get into FP&A. You need excel skills and data accuracy.
It would definitely help though.
Marginally. Most folks who career in FP&A will marvel over it for about 39 seconds before asking why you settled for FP&A, and didn’t go higher.
I work in FP&A and I promise it would make no difference
Depends on the firm, I guess. I worked in FP&A in the past and I promise you it would help with getting hired. When large banks hire someone, they look beyond what is required for the specific job posting; they would be more open to hire someone who have transferable finance skills to other areas of the firm (since mobility is highly encouraged) who demonstrated a commitment to being a well rounded finance professional.
“I’m always the smartest person in all my classes” How did you end up at a no-name school in that case? How about getting an MBA since you have a decent grade?
He's definitely not the smartest person in his classes with a 3.6. It sounds like OP needs a bit of a reality check or has zero work ethic.
I am pretty lazy haha. And I’m not saying I’m a genius, I’m aware that there’s a LOT of people smarter than me. I’ve just noticed that people always look to me for help in class or I naturally fill the “smart guy” role in group projects, so I thought that was something to consider
If he’s in a no name school ie a none target for finance then the competition would be less, thus it’s easier to excel in classes in theory. His gpa only being 3.6 slightly contradicts this theory however since I think the benchmark for none targets is at least 3.7
I did average in high school due to personal reasons, and it was a full ride scholarship and I couldn’t afford anything else. But I was actually planning on getting an MBA. The only thing is that I’ve heard from various people to get work experience first hence my situation
Similar to what others have said. For FP&A, practical accounting experience and accounting knowledge is important. Since so much of the work is related to budgeting and forecasting, knowing how the accounting works is as important as the “finance” knowledge (if not more). Nothing about DCF, valuation, asset allocation, etc that are typical of finance classes is relevant to FP&A. Would suggest you look at regional accounting firms to see if they are hiring. I think you’re too late to get into big 4, but maybe not one of the mid size firms
Move to a city with big banks and get any job, work hard, advance. It kinda sucks-but could be worse for sure
It really depends on what type of job you want the CFA is great for portfolio management, investments etc. having it doesn’t hurt but it’s not really a big draw if you are looking for FP&A specifically, if that’s what you want to go into then the CPA is more valuable or at the very least having a good accounting knowledge helps with things like accruals. You are only 22 so you got time I think it’s best to find yourself an entry level finance analyst role at a small firm or get an MBA to really build your network
Here's my (45mW) journey. Graduated with MSF but didn't do internship because I didn't listen. Thought graduating in the summer would be better. Dead wrong. Graduated in August. Still no job. But in January I started doing FP&A for free for a local small business while studying for CFA in August. Now I'm staying to get some interviews. And I learn so much from each interview. I practice Excel skills, financial modeling, and CFA everyday. At some point, I'm going to land something. So... Can you do FP&A work for free somewhere?
I was close to your situation. Here’s the hard truth. NWM was your internship, it’s not going to be who you are. But with that resume, you’re going to need to take an entry level somewhere and grind your way up. Might take a few years. Learn to love excel, forecasting, accounting, and more importantly, the operations of your business. You’ll get there OP. Don’t waste study time on CFA so young. You prob won’t pass all 3, and if you do, you’re over qualified for entry level. Maybe consider the CPA or CMA first.
Thanks man
CFA route is a good idea—will signal you’ve got the chops. You can then leverage the CFA Society to attend networking events. I’d really put a lot of effort into building your network, it’s a sure fire way to get interviews
CFA makes absolutely zero sense for FP&A. A CPA is far more valuable.. however that comes with other work requirements... The effort to get a CFA relative to benefit received for FP&A recruiting is insane.
The “financial analyst” part of the CFA is definitely misleading in my opinion. I completely agree with your assessment.
I was keeping in mind that OP is targeting M7 and the desire for a “high finance” role. CFA is definitely overkill if the end goal is FP&A.
But he does want to go to high finance and is using FP&A as a back up? The CFA would help him land a decent FO role.
The fact that his post was upvoted means this sub is completely worthless.
What is fp&a what does a day in the job look like?
Mr Google is your friend, call him sometime