FP&A Career Path and Salary Guide

What happens after the Director/VP level?

Transition to the CFO role is obviously rare (there’s only 1 spot) but FP&A, alongside the controller and treasury function have been considered potential stepping stones to the CFO position.

After the Director/VP level, the majority of FP&A professionals tend to stay within FP&A, either in their current organization or at other companies. At large companies, directors can progress internally by taking on responsibility for larger P&Ls.

Transition to the CFO role is obviously rare (there’s only 1 spot) but FP&A, alongside the controller and treasury function have been considered potential stepping stones to the CFO position. Those seeking this type of transition often look to rotate to other key areas in the organization such as a Controller, Business Development, Corporate Development and Operations. This well-rounded skill set is critical in getting the nod to the CFO position.

Even more rare is the opportunity to rise to the CEO level. Due to the highly analytical and inquisitive nature of a person who succeeds in FP&A, many also seek the entrepreneurial route by founding companies in all types of industries.

FP&A career path for nontraditional candidates

As we mentioned earlier, entry points and the actual career trajectory of an FP&A analyst can vary significantly. That said, most people enter after getting their MBAs and then work up the corporate ladder. Below we address what “non traditional” hires can do to improve their competitive profile:

Generally, FP&A professionals enjoy a better work-life balance than those working in investment banking or consulting.

Junior level (analyst and senior analyst)

Candidates without accounting background will be more competitive by demonstrating an interest in FP&A by gaining a designation such as a CPA, CMA/CFM or FP&A Certification from the Association of Financial Professionals. Those switching careers out of investment banking are less common, although the financial modeling experience gained in IB is looked at positively.

Senior level (manager, Director/VP)

Professionals seeking to transition into a senior role in FP&A will need to have significant experience managing various projects and corporate initiatives. If transitioning from consulting or banking, deep industry experience is required. For example, it is very unusual to see a generalist get hired in a senior position at a healthcare organization without experience in the the healthcare industry.

FP&A work-life balance

Generally, FP&A professionals enjoy a better work-life balance than those working in investment banking or consulting. Hours range from 45-55 hours a week but can spike to 70 hours per week during “fire drills” and seasonal peak times. Public company FP&A teams in particular tend to work longer hours, particularly during the quarterly financial close process, when the work can be grueling and time sensitive.

Unlike professional services like investment banking or consulting, there is typically no set time frame or up and out policy.

Additional FP&A resources

• FP&A Responsibilities and Job Description
• Attend an FP&A financial modeling boot camp in NYC
• Building an FP&A Rolling Forecast
• Budget to Actuals Variance Analysis in FP&A