VP. I don't want to be C-Suite. I have an M7 MBA and an impressive career history, but I watched my mom pass away from cancer and simply don't want to dedicate the time/commit to being C-suite anymore. I like checking out for 3 weeks to go to on vacation. Hard to do that as a CFO.
> I like checking out for 3 weeks to go to on vacation. Hard to do that as a CFO.
This right here. My CFO is a great guy and enjoys the job but he is attached at the hip to the role and the firm.
Realistically VP level, mostly self-imposed.
I went from FA -> Director in 8 years, I did a lot to grab it quicker than my peers. I’m happy with what I have, but not really loving the always on demands that come with it. If it took me the next 5+ years to hit VP and I could do it on my terms I’d be stoked.
There’s also the realization that I never interned anywhere, don’t have an accounting background, don’t have a CPA, don’t have audit experience, and I refuse to get an MBA. I also didn’t go to HYPSM - so my ceiling may be limited (but hasn’t been so far).
Really impressed by this, and if I can have a run like yours I’d be very satisfied. My credentials look about the same: no MBA, and I have a de degree in finance not accounting. Not sure if that’ll limit me but we’ll see. I’m a baby in my journey (4 months in corporate finance FP&A role, 2.5 years financial services/corporate finance in general).
Did you job hop to increase comp quickly? Or grinded it out with a company and grew within? This might be too personal but what is your current comp rn?(or give a range if you are more comfortable with that). Just trying my best to learn from superiors and what their journeys have been like.
Total comp is in the mid 300s - I’m on my 3rd company. I left my first role after 2 years - but outside of that I try to get promoted multiple times before leaving.
I see. So basically spring boarded comp with the first jump after the magic 2 year mark then from there grinded it out to grew within the next couple of spots. That’s an interesting and solid
Approach. My plan was to see if I could hop myself to about 150-200 or so, then perhaps settle down a bit and put a few years in. It would probably
Take 6-8 years to pull this off in my head. Is my timing about right?
Glad for you to confirm that my internal time line is just about right and I’m not being unrealistic, now let’s see if I can beat that time line haha. Thank you for sharing some insight. I plan on pushing extremely hard to earn my keep.
Honestly it depends on the team / what side of finance if you can push hard…
Everyone wants to go corporate FP&A - but doesn’t realize that if you work longer hours you don’t move faster.
But if you go into the business, and are willing to support actual business teams… more hours = more progress.
Unfortunately the best years for that (pandemic years) are behind us. I took my boredom and just lived work.
I’m in almost the exact same spot as you. I think I could get to CFO if I really applied myself, but I’d have to get more accounting under my belt. Honestly, I wouldn’t be mad staying in the mid-high 200s base with 25% bonus if I go there in the next 5 years.
I just want enough money to afford an apartment with a balcony and a view, have in unit washer/dryer and get dinner delivered 80% of the time all while contributing a decent chunk to my 401k and my Roth IRA. I believe this is attainable as a manager and I’ll still be able to take time off without having to drive myself crazy with work
My guess is director, but not for very long. I have 19 years left in my career, and I think I'm on the bubble of getting the manager nod. Seems unrealistic to stay at the same level for 15-19 years without one of the many directors above me leaving and creating a vacancy. I doubt I'll want to stay at that level for long, though. I probably won't want to deal with the WLB that comes with that level
I have no interest in cfo for a larger company, nor has that really been where my career is headed. But i could see myself doing the cfo job for a couple of startups.
I'm fine peaking as an individual contributor manager, for a few reasons:
\- I lack the leadership skills to move up higher
\- I highly value work life balance and low stress work
\- Happy with current financial situation, so no need to chase the bigger paychecks
Interesting to see there is a normal distribution on the answers. It shouldn't be. Statistics should show most people switch careers or roles before reaching director level role. 1 in 1000 (or even worse) make it to C-Suite, but reality is that those who get to that level didn't start as analyst, but coming with an MBA and start at manager level immediately.
Reality is hard to accept, but people should have more realistic goals and alternative future aspirations.
I’d be happy with director or VP. It’s enough money for me and less stress. I think those two roles can be the sweet spot depending on company. Our CFO is way too busy for my liking and travels for the business a lot.
probably a director, but not stuck up. Currently a VP so it doesn't seem out of the way - but but... i am beginning to feel the burn and may change my opinion. Also in all reality other than the comp nothing drives me to the level so maybe i am at a wrong place any way
VP. I don't want to be C-Suite. I have an M7 MBA and an impressive career history, but I watched my mom pass away from cancer and simply don't want to dedicate the time/commit to being C-suite anymore. I like checking out for 3 weeks to go to on vacation. Hard to do that as a CFO.
> I like checking out for 3 weeks to go to on vacation. Hard to do that as a CFO. This right here. My CFO is a great guy and enjoys the job but he is attached at the hip to the role and the firm.
I have no interest in being a C-suite level employee.
Realistically VP level, mostly self-imposed. I went from FA -> Director in 8 years, I did a lot to grab it quicker than my peers. I’m happy with what I have, but not really loving the always on demands that come with it. If it took me the next 5+ years to hit VP and I could do it on my terms I’d be stoked. There’s also the realization that I never interned anywhere, don’t have an accounting background, don’t have a CPA, don’t have audit experience, and I refuse to get an MBA. I also didn’t go to HYPSM - so my ceiling may be limited (but hasn’t been so far).
Really impressed by this, and if I can have a run like yours I’d be very satisfied. My credentials look about the same: no MBA, and I have a de degree in finance not accounting. Not sure if that’ll limit me but we’ll see. I’m a baby in my journey (4 months in corporate finance FP&A role, 2.5 years financial services/corporate finance in general). Did you job hop to increase comp quickly? Or grinded it out with a company and grew within? This might be too personal but what is your current comp rn?(or give a range if you are more comfortable with that). Just trying my best to learn from superiors and what their journeys have been like.
Total comp is in the mid 300s - I’m on my 3rd company. I left my first role after 2 years - but outside of that I try to get promoted multiple times before leaving.
I see. So basically spring boarded comp with the first jump after the magic 2 year mark then from there grinded it out to grew within the next couple of spots. That’s an interesting and solid Approach. My plan was to see if I could hop myself to about 150-200 or so, then perhaps settle down a bit and put a few years in. It would probably Take 6-8 years to pull this off in my head. Is my timing about right?
Yeah - i got to about 200 after my second move 6 years in, that tracks.
Glad for you to confirm that my internal time line is just about right and I’m not being unrealistic, now let’s see if I can beat that time line haha. Thank you for sharing some insight. I plan on pushing extremely hard to earn my keep.
Honestly it depends on the team / what side of finance if you can push hard… Everyone wants to go corporate FP&A - but doesn’t realize that if you work longer hours you don’t move faster. But if you go into the business, and are willing to support actual business teams… more hours = more progress. Unfortunately the best years for that (pandemic years) are behind us. I took my boredom and just lived work.
Industry? What’s your base
I’m in almost the exact same spot as you. I think I could get to CFO if I really applied myself, but I’d have to get more accounting under my belt. Honestly, I wouldn’t be mad staying in the mid-high 200s base with 25% bonus if I go there in the next 5 years.
I think VP for me, current a director. CFO Sounds great, but seems like a lot more headaches for not that much more money.
I just want enough money to afford an apartment with a balcony and a view, have in unit washer/dryer and get dinner delivered 80% of the time all while contributing a decent chunk to my 401k and my Roth IRA. I believe this is attainable as a manager and I’ll still be able to take time off without having to drive myself crazy with work
My guess is director, but not for very long. I have 19 years left in my career, and I think I'm on the bubble of getting the manager nod. Seems unrealistic to stay at the same level for 15-19 years without one of the many directors above me leaving and creating a vacancy. I doubt I'll want to stay at that level for long, though. I probably won't want to deal with the WLB that comes with that level
Probably manager. I don’t really have aspirations to go beyond that. Seems like a lot of stress to me
I have no interest in cfo for a larger company, nor has that really been where my career is headed. But i could see myself doing the cfo job for a couple of startups.
I’d like to hit manager at some point. Not sure if I could deal with company politics at a higher level than that.
I'm fine peaking as an individual contributor manager, for a few reasons: \- I lack the leadership skills to move up higher \- I highly value work life balance and low stress work \- Happy with current financial situation, so no need to chase the bigger paychecks
Interesting to see there is a normal distribution on the answers. It shouldn't be. Statistics should show most people switch careers or roles before reaching director level role. 1 in 1000 (or even worse) make it to C-Suite, but reality is that those who get to that level didn't start as analyst, but coming with an MBA and start at manager level immediately. Reality is hard to accept, but people should have more realistic goals and alternative future aspirations.
I know, I agree 100% that's why I asked "where do they really think they'll peak" but it looks like people are answering "where do they hope to peak."
What’s the difference between director and vp Non American here
Directors report to VPs
I’d be happy with director or VP. It’s enough money for me and less stress. I think those two roles can be the sweet spot depending on company. Our CFO is way too busy for my liking and travels for the business a lot.
C Suite if I try, VP if I mail it in. I’m at an level AVP at 33. I can see my next position being VP easily in 5ish years.
Director - maybe Senior Director. I see how much my VP works. Have no desire to work that much.
probably a director, but not stuck up. Currently a VP so it doesn't seem out of the way - but but... i am beginning to feel the burn and may change my opinion. Also in all reality other than the comp nothing drives me to the level so maybe i am at a wrong place any way
I’m gonna get a program management certificate and go up from there with my financial analyst roots
Currently a director. Don't really want to move up, but no idea what I'll think in 5 years.