Still Exploring Finance Careers: Corporate Finance (accountant, 100k, corporation, jobs)

[Jumpman023]

Hi,

I'm still looking at different careers in finance, so I was wondering if anyone can tell me about corporate finance, especially if you work in that field in terms of career path, compensation, stress, boring/fun, etc.? Also, would a CPA or CFA be more useful for climbing up the ladder in this field?

thanks

[Randomdude]

Originally Posted by Jumpman023

Hi,

I'm still looking at different careers in finance, so I was wondering if anyone can tell me about corporate finance, especially if you work in that field in terms of career path, compensation, stress, boring/fun, etc.? Also, would a CPA or CFA be more useful for climbing up the ladder in this field?

thanks

My best advice on this career path is to make sure you move, or can move to a major corporate center.

I originally wanted to be in corporate finance (maybe an analyst), and after I became sick, and relocating to NYC was no longer an option, I found out quick that there was absolutely no demand at all for this around Norfolk, VA.

[Jumpman023]

bump

[kemcnyc]

I work at an Investment Bank, so probably not an apples to apples comparison to Corp. Finance but I will give you my $0.02.

I work in this field solely for the compensation. I find very little to be "fun" or rewarding. That is just me. I have coworkers whose eyes light up in a meeting when discussing certain issues, processes, nostro accounts or whatever. So I think it really depends on what "floats your boat", makes you want to jump out of bed in the morning. I am going somewhere with this.... stay with me....

So, as far as a CFA or CPA (I have an MBA)... I would recommend doing some kind of personal assessment before undergoing either. Have a plan of how you want to use these certifications. You might find that they are not necessarily the answer on their own merit.

Personally, I think climbing up the ladder can occur in many ways. A combination of preparation, determination and flat out luck (lucky timing, etc.). You are going to be more successful if you like what you do. At the end of the day, relationships/ contacts are your best route for success.

Anyway, hope I answered your question somewhat and hope the information is helpful.

[drshang]

Jumpman,

An MBA would be more useful for Corp Finance than either a CPA or a CFA. The CFA is generally targeted at investment management or investments and won't be useful at all for Corp Finance IMO. That said, if you want to some day make the transition to that side it can be useful. CPA is also pretty much not useful for Corp Finance but if you want to move up the ladder to a corporate controller or some job that runs accounting + finance it might be useful. More useful than a CFA for sure if you want to stay working for a corporation. All that said, an MBA will help you way more than either a CFA or CPA for a corporate finance career.

I think a lot of undergrad corporate finance jobs make 40-45k. MBA level corporate finance makes 75-100k. I know many people (disclaimer, I have MBA, don't work in the field but have friends climbing the corp finance ladder) that were stunted 3-4 years after undergrad in corporate finance until they got an MBA. If you get a CPA many people in corporate finance will think you want to become an accountant. If you get a CFA many will think you want to be an investment manager. Neither will really deliver the right message or give you the relevant skills to climb the ladder. MBA gets you into a network and provides relevant skills for corporate finance.