Route to CFO
I've recently been doing a bit of career related soul searching and I'm hoping to get some third party opinions. When I observe the more experienced people at my job (i.e., sr managers, directors, partners) I don't really see a life that seems fulfilling to me personally. Therefore, I've concluded that higher level public accounting is not the route I would like to follow.
I've observed a fair share of CFOs at small to medium public companies. They all seem to have reasonable work-life balance and get paid pretty well. In addition, the leadership role the position offers really appeals to me. CFO of a small to medium size public company has essentially become my long term goal. I feel that larger company CFOs tend to lack as much life-work balance and it seems they typically come from finance backgrounds. A non-public company CFO position also doesn't sound bad, but I feel that the public company aspect provides a few additional perks (specifically equity compensation). I've been debating what my best course of action would be so I though I would get some reddit opinions. See the specifics of my situation below.
My Resume: * Bachelor of accounting from a state school * Master of accounting from a large well recognized state school * 3 years Big 4 audit experience (2 staff, 1 senior) * 1 year senior accounting advisory experience (e.g., FAAS, CMAAS, AAS) * Ratings have been fairly high compared to my peer group * 6 years reserve military experience * Licensed CPA * Work in a large metropolitan area (top 5 largest US cities)
The CFO at my current client progressed as follows: Asst controller> division controller> director finance/ accounting> Director finance> VP Finance> VP Finance/ CFO> CFO
I think in general it is more common for a CFO to have a finance background, but the above progression proves that it is at least possible with an accounting background.
I am considering a jump to a large F500 (analysts, senior, reporting). The plan would be to find a F500 company provides MBA reimbursement. Then after working for a year or so I would enroll in an executive mba (large/ well recognized).
I feel like this path gives me a chance to see accounting from the industry perspective while simultaneously building the resume for a leadership role. I've always gotten the impression that seeing accounting from the industry side is pretty key and I feel like an executive MBA increases my odds of moving into leadership roles. I'm afraid of becoming boxed into strictly accounting roles if I leave at/after manager. I also do recognize that a full-time MBA from an M7 would obviously carry more weight, but again I'm not looking to be CFO at a large company. I've seen CFOs at these types of company's that don't have any MBA.
If I were to jump to industry and see a halt in career progress then I would plan to return to Big 4 to get the manager title and proceed from there.
Am I overestimating the impact of being boxed into accounting roles if I stay until manager? Am I underestimating the difficulty of moving up in industry? Am I crazy? I don't know I just want some opinions if you kind people wouldn't mind.
tl;dr - I'm a senior in a FAAS practice. I want to be a CFO of a small to medium public company. Give me your opinions on the best route I can take.
I've observed a fair share of CFOs at small to medium public companies. They all seem to have reasonable work-life balance and get paid pretty well. In addition, the leadership role the position offers really appeals to me. CFO of a small to medium size public company has essentially become my long term goal. I feel that larger company CFOs tend to lack as much life-work balance and it seems they typically come from finance backgrounds. A non-public company CFO position also doesn't sound bad, but I feel that the public company aspect provides a few additional perks (specifically equity compensation). I've been debating what my best course of action would be so I though I would get some reddit opinions. See the specifics of my situation below.
My Resume: * Bachelor of accounting from a state school * Master of accounting from a large well recognized state school * 3 years Big 4 audit experience (2 staff, 1 senior) * 1 year senior accounting advisory experience (e.g., FAAS, CMAAS, AAS) * Ratings have been fairly high compared to my peer group * 6 years reserve military experience * Licensed CPA * Work in a large metropolitan area (top 5 largest US cities)
The CFO at my current client progressed as follows: Asst controller> division controller> director finance/ accounting> Director finance> VP Finance> VP Finance/ CFO> CFO
I think in general it is more common for a CFO to have a finance background, but the above progression proves that it is at least possible with an accounting background.
I am considering a jump to a large F500 (analysts, senior, reporting). The plan would be to find a F500 company provides MBA reimbursement. Then after working for a year or so I would enroll in an executive mba (large/ well recognized).
I feel like this path gives me a chance to see accounting from the industry perspective while simultaneously building the resume for a leadership role. I've always gotten the impression that seeing accounting from the industry side is pretty key and I feel like an executive MBA increases my odds of moving into leadership roles. I'm afraid of becoming boxed into strictly accounting roles if I leave at/after manager. I also do recognize that a full-time MBA from an M7 would obviously carry more weight, but again I'm not looking to be CFO at a large company. I've seen CFOs at these types of company's that don't have any MBA.
If I were to jump to industry and see a halt in career progress then I would plan to return to Big 4 to get the manager title and proceed from there.
Am I overestimating the impact of being boxed into accounting roles if I stay until manager? Am I underestimating the difficulty of moving up in industry? Am I crazy? I don't know I just want some opinions if you kind people wouldn't mind.
tl;dr - I'm a senior in a FAAS practice. I want to be a CFO of a small to medium public company. Give me your opinions on the best route I can take.
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