You’ll almost certainly need experience as a certified public accountant (CPA) before you can become a financial executive like a chief financial officer (CFO). CPAs are well-versed in all aspects of finance, including theory and the creation of financial models. A bachelor’s degree and two years of accounting work experience are usually required for aspiring public accountants to pass the CPA exam, though qualifications may vary depending on the company or corporation. Being a CPA isn’t enough to become a top-tier financial executive like a CFO; this high-level position necessitates a strong understanding of financial strategy.
Because a CFO is responsible for all of a company’s financial concerns, strategic thinking in all areas of finance is essential. Because treasurers and controllers frequently report to the CFO, working in one of these positions and rising through the ranks could be a good way to advance to the position of financial executive. Controllers are more concerned with budgets and financial planning, whereas treasurers are more concerned with accounting and company loans.
Working your way up in junior positions by demonstrating your ability to take initiative, lead, and think strategically in business is the best way to eventually become a senior financial executive. It’s likely that you’ll be able to move to higher positions in another firm or the same one once you gain work experience in the financial department of one company that will look good on your financial executive resume. If you want to be a CFO, you’ll need to develop supervisory and management skills. For a person who wants to become a senior financial executive, a bachelor’s degree from a reputable university’s business school is a good asset. In some companies, the financial team is led by a vice president of finance rather than a CFO.
Developing a relationship with a mentor while pursuing a career as a financial executive can be beneficial. People who work in financial executive positions, such as vice president of finance or CFO, can provide you with useful advice. Joining financial career professional organizations is a good way to network and learn about potential financial executive job openings.