Advancing in Finance

TiVo / Finance
BoredC

TiVo Finance

PRE
Gigamon
BIO
Working in Finance, open to seek new friends, mentors, and career advancement.
BoredCmore
Jul 7 23 Comments

I'm currently working as a Sr. Financial Analyst in Bay Area. What do you guys recommend on learning and advancing faster in the field? MBA? CFA? Coding?

I have a friend that is telling me the field is changing rapidly and tech will change the dynamics of the field so hold off on getting an MBA.

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TOP 23 Comments
  • Bloomberg / Other ASSSlayer
    Depends on your goal - you want to finish as portfolio manager?
    If so an MBA is pretty useless, CFA is a must if you want any credibility and if you want an edge a strong coding ability
    Jul 8 4
    • TiVo / Finance
      BoredC

      TiVo Finance

      PRE
      Gigamon
      BIO
      Working in Finance, open to seek new friends, mentors, and career advancement.
      BoredCmore
      OP
      Thank you for the advice! My goal is become a CEO one day or die trying.

      How do you feel about the change in the dynamics of the position though? Automation is slowly coming in, coding is going to become a need?
      Jul 8
    • E*Trade / Finance cbEV72
      Look at our former cfo who’s at lpl now. He’s a cpa. Our current coo (who used to be cfo and to whom new cfo reports to) is CFA. Both got the job in early 40s. They represent alternative paths, check out their bio. Current Cfo is quite young too. I don’t think any of them wasted time on mba. All undergrad only. All of them would excel in mba
      Jul 8
    • Bloomberg / Other ASSSlayer
      But CEO of what? A regular firm or head an asset manager?
      Is it the money you're thinking about? Cause a random portfolio manager can make more than most CEOs on a good year.

      CFA is a must in asset management if you're doing the investing but useless for actual company management
      MBA is a must if you are managing a company entirely

      Automation in finance is already there. Depends how you are compared to those around. If you're in a traditional fundamental shop that isn't automated you could seem like a genius with basic coding and make a difference. At a quant fund not so much so better play other strengths
      Jul 8
    • E*Trade / Finance cbEV72
      Double line cfo has no mba or CFA. Gundlach himself has no graduate degree or CFA. You’re charting a very rigid path while reality in CSuite is quite diverse. There are many ways to the top
      Jul 8
  • New / Other AuntHilda
    It’s good that you are aware of your ultimate goal of becoming a CEO someday. Think about it like a top unit of a large building. You first have to go through all the other floors below.

    Considering that, right now you should think about how you can be a Manager, and then a Director, then VP, then CFO, and lastly CEO.

    Having a CPA will definitely help you get till Director’s level. After that, it will be a combination of your interpersonal skills + luck + your hunger to reach the next level.

    I can keep talking about this all day as I have lived the same route as you and I am in between Director and VP level right now. Feel free to IM me with specific questions.
    Jul 8 6
    • TiVo / Finance
      BoredC

      TiVo Finance

      PRE
      Gigamon
      BIO
      Working in Finance, open to seek new friends, mentors, and career advancement.
      BoredCmore
      OP
      Thank you! I will definitely reach out to you for questions!
      Jul 8
    • Invesco xbat
      Better route is CFA, CPA is okay if going accounting but CFO is going the FP&A route which is more CFA degrees then CPA.
      6d
    • TiVo / Finance
      BoredC

      TiVo Finance

      PRE
      Gigamon
      BIO
      Working in Finance, open to seek new friends, mentors, and career advancement.
      BoredCmore
      OP
      I failed the first exam. I had a really hard time to connecting the dots of what I'm studying to what I was doing at my job - maybe it's not supposed to be like it? Any tips and thoughts?
      6d
    • Invesco xbat
      Lock yourself away for a week before each exam and study
      6d
    • New / Other AuntHilda
      @xbat not sure I agree with your assessment that CFOs are going CFA route over CPA. CFOs are required to oversee Accounting and sign the management representation letter once the audit is done. Having a CPA gives the audit team a level of comfort that the CFO have the appropriate credentials to oversee the controllership function and hence, sign the representation letter.
      6d
    • Invesco xbat
      If it's a large enough company that's what your controller is for and your chief accounting officer. Which should give you enough assurance your financials statements meet US GAAP. Your job as CFO is more about external view and forecasted view of the firm. Ensuring the decisions of the various presidents are properly vetted to understand impact to financial statements and meeting the medium term aspirations of the firm.
      5d
  • OnDeck GPgj02
    Toastmasters. Develop a silver tongue
    Jul 8 3
    • TiVo / Finance
      BoredC

      TiVo Finance

      PRE
      Gigamon
      BIO
      Working in Finance, open to seek new friends, mentors, and career advancement.
      BoredCmore
      OP
      Silver tongue? You recommend YouTube videos or books on this?
      Jul 8
    • OnDeck GPgj02
      YouTube is good to study how effective orators influence their audience. But I recommend going to toastmasters meetings and practice speaking in public
      Jul 8
    • TiVo / Finance
      BoredC

      TiVo Finance

      PRE
      Gigamon
      BIO
      Working in Finance, open to seek new friends, mentors, and career advancement.
      BoredCmore
      OP
      Thank you, I'll definitely look into Toastmasters.
      Jul 8
  • Unity escrow
    TC YOE?
    Jul 7 2
    • TiVo / Finance
      BoredC

      TiVo Finance

      PRE
      Gigamon
      BIO
      Working in Finance, open to seek new friends, mentors, and career advancement.
      BoredCmore
      OP
      TC: 150k
      YOE: 6 years but 9 year with rotating internship
      Jul 7
    • TiVo / Finance
      BoredC

      TiVo Finance

      PRE
      Gigamon
      BIO
      Working in Finance, open to seek new friends, mentors, and career advancement.
      BoredCmore
      OP
      And going to turn 30 this year
      Jul 7
  • Bloomberg / Other ASSSlayer
    What is your actual job though?
    Buy side analyst?
    Jul 8 1
    • TiVo / Finance
      BoredC

      TiVo Finance

      PRE
      Gigamon
      BIO
      Working in Finance, open to seek new friends, mentors, and career advancement.
      BoredCmore
      OP
      Currently FPA for IP Licensing, Legal, Facilities, HR, and Strategy. The company is splitting so lots of ad hoc experience from time to time.
      Jul 8
  • Invesco xbat
    Coding and statistics
    6d 0
  • E*Trade / Finance cbEV72
    CFA helps in some roles, in others it’s CPA.
    Jul 8 0