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The Hierarchy Of Corporate Finance
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Working in banking and finance, you need to clearly define what kind of work you want to be doing , how you can forward your career and where you want to end up in the future. Here are the top corporate finance jobs you should aim for.
The Chief Financial Officer
The CFO is at the top of the food chain. Not even the CEO can push him around. He has a team that directly reports to him. He manages around 50 to 200 people and at an average company earns at least $300,000 USD. His main goal in life is to hit his net income target. This is the top role that everybody in that department is aiming for—to one day sit at the CFO’s desk.
This job relies heavily on company politics and knowing the right people at the right time. It isn’t just about doing an honest work at the end of the day. The career path towards becoming a CFO is not merit based. It can however be achieved by aiming to become an account manager.
The Financial Planning And Analysis Manager
This is a department run by 4 to 5 analysts, headed by a senior analyst who then reports to the FP&A Manager and the FP&A Manager in turn reports to the CFO. This is a department that decides what strategies the company is going to take. The objective of this line of work is to project the Profit & Loss Statement of the company and predict the growth of net sales. You are also responsible of assigning a revenue target for the different operational departments. Work involves data consolidation, analysis of the previous quarter, key metric reports, employee compensation expense.
The FP&A Manager works 60 hours a week and receives at least $200,000 USD for compensation. The senior analyst gets an average of $100,000.
If you want to a job that’s going to get you that CFO position, become a controller. Controllers do the financial accounting work of the company. They are in charge of making accounting decisions so that the company’s financial statements and balance sheets remain accurate. The CFO might have different goals that could compromise the job of the controller so you always have to keep your CFO in check and keep him happy at the same time.
At an entry-level position, the Controller works 40 hours a week and received $50,000 USD but when you’re striving for the role of the CFO, prepare to work as much as the FP&A Manager and also get as much pay. If you would rather be in investment banking, find your preferred bank job at the Marks Sattin website.
If you want to earn almost close to what the CFO makes, become the treasurer. The Treasurer gets paid as much as the CFO and probably even more. The Treasurer coordinates the treasury department and deals directly with investors and banks. You invest funds and manage all the accounts in the company. Work hours are around 45 hours a week on average but it really depends on the company you are in. If the company is at a good spot with cash, working will be a piece of cake. If you’re in a company that’s running out of cash, you’ll have to work you’re head off every day to find ways on how to counter the problem. The work involves bonds, equity, and credit negotiation with debt capital market groups at banks. Visit markssattin.com.au to learn what other accounting job you can get into.
If you want a job in corporate finance where you are able to move up, take your pick. People in other positions rarely forward their career so right off the bat, you better decide where you want to end up. Browse http://markssattin.com.au to find more finance jobs in Sydney.
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