What's the most "interesting" job in corporate finance?

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csm14
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What's the most "interesting" job in corporate finance?

Post by csm14 »

Hi All,

I'm currently studying for my Master's in Accounting/plan on being a CPA. I have an audit internship lined up for this coming winter.
I'm currently interning in corporate finance (FP&A).

I was just wondering if there's an area of corporate finance that tends to be more interesting? FP&A seems to get very dry.

Thanks!
runner540
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Re: What's the most "interesting" job in corporate finance?

Post by runner540 »

M&A transactional work: whatever angle (tax, accounting, investment banking, lending, operations, etc.), this is often a fast-paced, demanding area to work. Also tends to be more highly compensated. Another option is to get some Big 4 experience, then move into small/midsize business and up the ranks quickly.
BogleMelon
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Re: What's the most "interesting" job in corporate finance?

Post by BogleMelon »

I am a cost accountant, and I can tell that there is a high demand "and low supply" for this field. Even their salaries are higher than the regular accountants. I don't know about auditing and other fields though. Good luck.
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Grt2bOutdoors
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Re: What's the most "interesting" job in corporate finance?

Post by Grt2bOutdoors »

Corporate development- look at seed capital investments, joint ventures, acquisitions. Essentially the pipeline for profitable opportunities that can be expanded upon.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
MikeG62
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Re: What's the most "interesting" job in corporate finance?

Post by MikeG62 »

csm14 wrote: Tue Nov 07, 2017 9:27 pm Hi All,

I'm currently studying for my Master's in Accounting/plan on being a CPA. I have an audit internship lined up for this coming winter.
I'm currently interning in corporate finance (FP&A).

I was just wondering if there's an area of corporate finance that tends to be more interesting? FP&A seems to get very dry.

Thanks!
Spent 8 years in public accounting (big 4 - actually was big 8 at the time) then 23 years in corporate - including 10 years as Chief Accountant and 10 years as SVP finance (for multi-billion dollar NYSE public company). So lots of experience here.

In my view, the most interesting job (in the areas you mentioned) would be in FP&A. While I understand you feel it is kind of dry now, that may be more due to the nature of work you are doing (more entry level). As you move up the ranks, the work will get more challenging and consequently more interesting. You will have more responsibility and decisions (important decisions) will be made based upon your analysis and that of your team. Eventually (if you move high enough up) you will make decisions which shape and drive the business - you can be part of the executive team running the company. That is exciting and rewarding (both intellectually and financially).

Audit work can be very dry. Few people do it for more than a few years. Accounting itself can be interesting, but here to most folks find it quite dry and most look to transition to FP&A if they can.

M&A can be somewhat interesting, but most of the finance folks involved with M&A are doing due diligence. That work too gets very boring. Also, the hours can be grueling and deadlines are often ridiculous. If you are the one negotiating the deal, it’s a lot better, but most folks are worker bees, head down crunching numbers and reviewing documents.

Feel free to PM me if you have more specific questions. It’s good to see you on these forums at such a young age. You are off to a very good start!
Real Knowledge Comes Only From Experience
Bacchus01
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Re: What's the most "interesting" job in corporate finance?

Post by Bacchus01 »

Work in PE. Period.

Audit? Bleh.
Ace1
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Re: What's the most "interesting" job in corporate finance?

Post by Ace1 »

csm
I spent most of my career in the general accounting and fp&a areas.
I would agree with everything MikeG indicated.
However I would add a newer area in the accounting profession that to me seems like it would be quite interesting,
is forensic accounting, the search for embezzlement, money laundering, and fraud, etc.
Best wishes to you in whatever avenue you pursue in the accounting field.
Valuethinker
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Re: What's the most "interesting" job in corporate finance?

Post by Valuethinker »

Grt2bOutdoors wrote: Tue Nov 07, 2017 9:59 pm Corporate development- look at seed capital investments, joint ventures, acquisitions. Essentially the pipeline for profitable opportunities that can be expanded upon.
This is an interesting area although it also attracts the high powered MBA types who want out of Investment Banking or Consulting for lifestyle reasons (as in "to have a life" ;-)).

I think M&A is a great thing to do for 3-4 years but not necessarily the best place to spend one's corporate career. Unless you are one of the Gods like Moelis, IB is not exactly a great career as you get into your mid 30s- mid 40s. 5-10 years out of Wharton, LBS, whatever you start to see your friends have kids, family life and you inevitably lose a few to cancer, MS, accidents etc. You start to wonder whether it is all worth it, for your 1 bedroom in Williamsburg (you moved there because it was trendy and thus drove out the trendiness ;-)) or Shoreditch or Noho.

Everybody actually in Investment Banking seems to either want to join a Fintech startup or get into Private Equity/ LBO. Inevitably only the ones with the best CVs (and luck) will do the latter. And most Fintech startups will fail.

In 2001 B2B Business to Business internet business models were renamed "Back 2 Banking" ;-). B2C Business 2 Consumer became "Back to Consulting" ;-).
Last edited by Valuethinker on Wed Nov 08, 2017 5:37 am, edited 1 time in total.
Valuethinker
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Re: What's the most "interesting" job in corporate finance?

Post by Valuethinker »

MikeG62 wrote: Tue Nov 07, 2017 10:08 pm
csm14 wrote: Tue Nov 07, 2017 9:27 pm Hi All,

I'm currently studying for my Master's in Accounting/plan on being a CPA. I have an audit internship lined up for this coming winter.
I'm currently interning in corporate finance (FP&A).

I was just wondering if there's an area of corporate finance that tends to be more interesting? FP&A seems to get very dry.

Thanks!
Spent 8 years in public accounting (big 4 - actually was big 8 at the time) then 23 years in corporate - including 10 years as Chief Accountant and 10 years as SVP finance (for multi-billion dollar NYSE public company). So lots of experience here.

In my view, the most interesting job (in the areas you mentioned) would be in FP&A. While I understand you feel it is kind of dry now, that may be more due to the nature of work you are doing (more entry level). As you move up the ranks, the work will get more challenging and consequently more interesting. You will have more responsibility and decisions (important decisions) will be made based upon your analysis and that of your team. Eventually (if you move high enough up) you will make decisions which shape and drive the business - you can be part of the executive team running the company. That is exciting and rewarding (both intellectually and financially).

Audit work can be very dry. Few people do it for more than a few years. Accounting itself can be interesting, but here to most folks find it quite dry and most look to transition to FP&A if they can.

M&A can be somewhat interesting, but most of the finance folks involved with M&A are doing due diligence. That work too gets very boring. Also, the hours can be grueling and deadlines are often ridiculous. If you are the one negotiating the deal, it’s a lot better, but most folks are worker bees, head down crunching numbers and reviewing documents.

Feel free to PM me if you have more specific questions. It’s good to see you on these forums at such a young age. You are off to a very good start!
This is very wise advice.

It is easy in accounting though to get trapped just doing the reporting.

Do you see people doing Exec MBAs (accountants that is) to credentialize themselves into more senior management roles? Worth doing?

What steps would you recommend to a young accountant to make this sort of career track happen?
MikeG62
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Re: What's the most "interesting" job in corporate finance?

Post by MikeG62 »

Valuethinker wrote: Wed Nov 08, 2017 5:35 am ...Do you see people doing Exec MBAs (accountants that is) to credentialize themselves into more senior management roles? Worth doing?

What steps would you recommend to a young accountant to make this sort of career track happen?
Yes, getting an MBA definitely helps, but it's not absolutely necessary (I never got an MBA). Exec MBA programs are a really good idea, especially if you can get your employer to pay for one. In some companies it could be hard to get the prime opportunities without an MBA - some bosses are hung up on stuff like that. However, in my experience, if you perform better than everyone else (including those have an MBA), then it won't likely matter that you don''t have one. Eventually no one will ask or care. You will become the "go to" person, you will get the juicy opportunities and if you rise to the occasion you will be successful.

Steps I'd recommend. I guess I would offer the following bits of advice:

1. Work "harder" than everyone else.
2. Work "smarter" than everyone else - don't waste time and be as efficient as possible.
3. Get things done quicker than everyone else - and consistently at a very, very high quality. It's OK to make mistakes, but don't make the same ones more than once.
4. Look at every task or assignment or job you have as an opportunity to learn something new and develop or refine your skills - no matter how boring some aspects of the job or task are (and sometimes it will be boring). Stop focusing on the boring and instead focus on what you can get out of the experience.
5. Volunteer for (seek out) the biggest and most challenging opportunities. Slay those opportunities.
6. Always have your boss(es) back.
7. Be thought of as the one "go to" person by everyone more senior than you.
8. Be totally reliable and dependable. You want to be the single person that comes to mind when the most difficult or most challenging jobs come up.
9. Communicate well (but don't over-communicate) - there is a line here.
10. Ask questions and ask for clarity when things are ambiguous. You may often hear, the only dumb question is the one not asked. It is mostly true.
11. Don't be high maintenance. When someone asks for the time, tell them the time, don't tell them how the clock works. Senior people hate almost more than anything else someone who wastes their time. They want to know the issues, but not extraneous bull sh_t.
12. Stay out of the gossip mill (avoid the water cooler). Don't talk about anyone else. Focus solely on being the best you that you can be.

Lastly, maintain the absolute highest level of ethics and morals in everything you do. This is non-negotiable. Your moral character must be above reproach.

Hope that is what you were after with the question.
-------------------------------------------------------------------------------------------------------

EDIT: Adding the following additional thoughts (to make the above list more comprehensive).

These are from a presentation on Keys to Success I gave several times during my career (only adding points not covered above):

1. Listen first (get the facts) - speak/act second.
2. Consider all possible options and implications of your decisions - ask second and third order questions (peel back the layers of the onion) and anticipate questions (be ready with answers).
3. Be collaborative - get buy-in from others, including key stakeholders. View the matter from the other persons perspective.
4. Judgment is critical - you "must" develop good judgment.
5. Learn from your mistakes - do not make the same ones a second time. More importantly, learn from other peoples mistakes (so you avoid making them in the first place).
5. Act like a business owner - what information would you want to make the decision.
6. Be invested in your decision - it should "really matter" to you that you are right.
7. Add value to "everything" you touch
8. Treat every decision as if you job depended on your being right.
9. Don't be afraid to make some decisions on your own - don't run every thought process you have past your boss.
10. Don't guess (unless it's a highly educated guess).
11. Remove all emotion from the situation - it's always business, not personal.
12. Act - do not react.
13. Perception is reality -if someone's perception of you is wrong do everything you can to change it.
14. Observe other successful people - determine what makes them successful and try to model your actions and behaviors to emulate them.
15. Don't be a clock watcher - the day ends when you get the important things done that need to get done, not simply because it is 5pm or 6pm or 7pm.
Last edited by MikeG62 on Wed Nov 08, 2017 12:12 pm, edited 1 time in total.
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carolinaman
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Re: What's the most "interesting" job in corporate finance?

Post by carolinaman »

MikeG62 wrote: Wed Nov 08, 2017 8:31 am
Valuethinker wrote: Wed Nov 08, 2017 5:35 am ...Do you see people doing Exec MBAs (accountants that is) to credentialize themselves into more senior management roles? Worth doing?

What steps would you recommend to a young accountant to make this sort of career track happen?
Yes, getting an MBA definitely helps, but it's not absolutely necessary (I never got an MBA). Exec MBA programs are a really good idea, especially if you can get your employer to pay for one. In some companies it could be hard to get the prime opportunities without an MBA - some bosses are hung up on stuff like that. However, in my experience, if you perform better than everyone else (including those have an MBA), then it won't likely matter that you don''t have one. Eventually no one will ask or care. You will become the "go to" person, you will get the juicy opportunities and if you rise to the occasion you will be successful.

Steps I'd recommend. I guess I would offer the following bits of advice:

1. Work "harder" than everyone else.
2. Work "smarter" than everyone else - don't waste time and be as efficient as possible.
3. Get things done quicker than everyone else - and consistently at a very, very high quality. It's OK to make mistakes, but don't make the same ones more than once.
4. Look at every task or assignment or job you have as an opportunity to learn something new and develop or refine your skills - no matter how boring some aspects of the job or task are (and sometimes it will be boring). Stop focusing on the boring and instead focus on what you can get out of the experience.
5. Volunteer for (seek out) the biggest and most challenging opportunities. Slay those opportunities.
6. Always have your boss(es) back.
7. Be thought of as the one "go to" person by everyone more senior than you.
8. Be totally reliable and dependable. You want to be the single person that comes to mind when the most difficult or most challenging jobs come up.
9. Communicate well (but don't over-communicate) - there is a line here.
10. Ask questions and ask for clarity when things are ambiguous. You may often hear, the only dumb question is the one not asked. It is mostly true.
11. Don't be high maintenance. When someone asks for the time, tell them the time, don't tell them how the clock works. Senior people hate almost more than anything else someone who wastes their time. They want to know the issues, but not extraneous bull sh_t.
12. Stay out of the gossip mill (avoid the water cooler). Don't talk about anyone else. Focus solely on being the best you that you can be.

Lastly, maintain the absolute highest level of ethics and morals in everything you do. This is non-negotiable. Your moral character must be above reproach.

Hope that is what you were after with the question.
+1. Great advice for accounting types and everyone else in business roles. #9 is subtle and an area where I saw some ambitious types overdo it. Last point, the importance of high moral character cannot be overstated. This is another area where some ambitious people fall short.
Valuethinker
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Re: What's the most "interesting" job in corporate finance?

Post by Valuethinker »

MikeG62 wrote: Wed Nov 08, 2017 8:31 am
Valuethinker wrote: Wed Nov 08, 2017 5:35 am ...Do you see people doing Exec MBAs (accountants that is) to credentialize themselves into more senior management roles? Worth doing?

What steps would you recommend to a young accountant to make this sort of career track happen?
Yes, getting an MBA definitely helps, but it's not absolutely necessary (I never got an MBA). Exec MBA programs are a really good idea, especially if you can get your employer to pay for one. In some companies it could be hard to get the prime opportunities without an MBA - some bosses are hung up on stuff like that. However, in my experience, if you perform better than everyone else (including those have an MBA), then it won't likely matter that you don''t have one. Eventually no one will ask or care. You will become the "go to" person, you will get the juicy opportunities and if you rise to the occasion you will be successful.

Steps I'd recommend. I guess I would offer the following bits of advice:

1. Work "harder" than everyone else.
2. Work "smarter" than everyone else - don't waste time and be as efficient as possible.
3. Get things done quicker than everyone else - and consistently at a very, very high quality. It's OK to make mistakes, but don't make the same ones more than once.
4. Look at every task or assignment or job you have as an opportunity to learn something new and develop or refine your skills - no matter how boring some aspects of the job or task are (and sometimes it will be boring). Stop focusing on the boring and instead focus on what you can get out of the experience.
5. Volunteer for (seek out) the biggest and most challenging opportunities. Slay those opportunities.
6. Always have your boss(es) back.
7. Be thought of as the one "go to" person by everyone more senior than you.
8. Be totally reliable and dependable. You want to be the single person that comes to mind when the most difficult or most challenging jobs come up.
9. Communicate well (but don't over-communicate) - there is a line here.
10. Ask questions and ask for clarity when things are ambiguous. You may often hear, the only dumb question is the one not asked. It is mostly true.
11. Don't be high maintenance. When someone asks for the time, tell them the time, don't tell them how the clock works. Senior people hate almost more than anything else someone who wastes their time. They want to know the issues, but not extraneous bull sh_t.
12. Stay out of the gossip mill (avoid the water cooler). Don't talk about anyone else. Focus solely on being the best you that you can be.

Lastly, maintain the absolute highest level of ethics and morals in everything you do. This is non-negotiable. Your moral character must be above reproach.

Hope that is what you were after with the question.
Thank you. I think that is very helpful for the OP.
Pacman
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Re: What's the most "interesting" job in corporate finance?

Post by Pacman »

+1 million to MikeG62. As an ex-big four corporate finance professional, I can attest that his advice is spot on (and probably the best that I have read anywhere). I will just add one more thought regarding communication, especially for those who are more introverted. I think that having the ability to speak comfortably in front of a group and think through problems out loud is pretty critical. My advice would be to get over whatever hang ups you have about public speaking in your 20s by practicing and joining toastmasters (or whatever) so that by the time you are in management by your 30s, this is no longer an issue and even better, a positive differentiator as you are polished in this area.
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patrick013
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Re: What's the most "interesting" job in corporate finance?

Post by patrick013 »

csm14 wrote: Tue Nov 07, 2017 9:27 pm I was just wondering if there's an area of corporate finance that tends to be more interesting? FP&A seems to get very dry.
Sounds like doing pro-forma budgets all the time. But that's how you learn the business.
Managerial Finance does alot more than that. Sounds like you have a couple years of
auditing to do.

They sell these great old books on eBay for $4 usually. They approach
Corporate Finance from a Finance perspective exclusively. Things you
may or may not learn from Accounting books. Hard to find a course
that concentrates on these specifically or the way these books did.

Weston, Fred and Brigham, Eugene (1972), Managerial Finance

Gitman, Lawrence (2003), Principles of Managerial Finance, 10th edition

Brigham, Eugene and Johnson, Ramon (1980), Issues in Managerial Finance
age in bonds, buy-and-hold, 10 year business cycle
Boglegrappler
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Re: What's the most "interesting" job in corporate finance?

Post by Boglegrappler »

Last point, the importance of high moral character cannot be overstated. This is another area where some ambitious people fall short.
Buffett has noted that the most important traits employees can have are intelligence, energy, and high moral character. But he notes that high moral character is the most important because if the people working for you have the either of the first two and not the third, you will be in trouble.

Overall, the lists above about succeeding are very good. They're just not that easy to do well. :)

Serve your employer well and opportunities will come your way.
SeaToTheBay
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Re: What's the most "interesting" job in corporate finance?

Post by SeaToTheBay »

I did FP&A (budgeting for a large insurance company) for 5yrs before going to FT MBA. Had planned to go back into corporate finance but veered into commercial banking (making loans to companies), which I like better for the following reasons (my wife is in corporate finance still, in high-tech):

1. You get to learn about various industries, companies, even individual people rather than being stuck in one company for years at a time. Really helps it stay fresh and interesting. I am in tech lending now, so I am learning all sorts of stuff about emerging tech and everything that goes into it. Before when I was not in tech, I had everything from sports teams to fishing companies to families building an empire of gas stations or university housing. It's also cool to see companies in your community and think, "oh yeah, I know all about them."

2. Fewer meetings. My wife's calendar is typically 3/4 full of meetings and calls. When does she have time to actually work?! A typical day for me is maybe 1.5hrs of calls/mtgs.

3. Economic diversity/stability. If the company or industry you're in with corporate finance goes downhill, you may lose your job and have a tough time getting another one. Conversely, banks lend money in good times and bad, to everyone.

4. Decent overall work/life balance. I have some late nights/weekends occasionally, but for the most part it's an 8:30-5 job. Vs. in corporate finance, a lot of times you're logging in at night and "on call" to work on slide decks, ad hoc analysis, etc.


Downsides I have seen are not a lot of perks and often a heavy amount of pay tied to your bonus. But these have not been a big deal to me.
MJW
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Re: What's the most "interesting" job in corporate finance?

Post by MJW »

carolinaman wrote: Wed Nov 08, 2017 8:44 amLast point, the importance of high moral character cannot be overstated. This is another area where some ambitious people fall short.
Not to mention one of the most distressing areas in which to be at odds with your employer from a values standpoint.
soupcxan
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Re: What's the most "interesting" job in corporate finance?

Post by soupcxan »

[deleted]
Last edited by soupcxan on Sun Dec 10, 2017 3:33 pm, edited 1 time in total.
MikeG62
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Re: What's the most "interesting" job in corporate finance?

Post by MikeG62 »

MJW wrote: Wed Nov 08, 2017 4:15 pm
carolinaman wrote: Wed Nov 08, 2017 8:44 amLast point, the importance of high moral character cannot be overstated. This is another area where some ambitious people fall short.
Not to mention one of the most distressing areas in which to be at odds with your employer from a values standpoint.
Our CEO had a clear and easy litmus test for this.

Don't do anything you would not be comfortable defending if it made its way to the front page of the WSJ.

A pretty high bar!
Real Knowledge Comes Only From Experience
Topic Author
csm14
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Re: What's the most "interesting" job in corporate finance?

Post by csm14 »

Thanks everyone! This is valuable insight to have early in my career.

If I did go back for an MBA, it would be most likely to pursue management consulting.
I know that most people leave after a couple of years, but does anyone know how much value it adds to your career in terms of having the "stamp"/developing management skills?

Similar to audit, I know that consultants often get hired in to companies at manager/director levels but not sure if that's a roundabout path since I'm currently studying for my MS in ACCT.
SeaToTheBay
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Re: What's the most "interesting" job in corporate finance?

Post by SeaToTheBay »

soupcxan wrote: Wed Nov 08, 2017 8:16 pm
SeaToTheBay wrote: Wed Nov 08, 2017 3:59 pm
Conversely, banks lend money in good times and bad, to everyone.
I’m pretty sure that wasnt the case 2008-10.
Perhaps I should clarify my statement - there is even more maintenance/due diligence to do on loans already outstanding during tough economic times. While new loan activity declines, that doesn't mean everyone suddenly repays all the loans they already have (quite the opposite).
csm14 wrote: Thu Nov 09, 2017 12:12 pm Thanks everyone! This is valuable insight to have early in my career.

If I did go back for an MBA, it would be most likely to pursue management consulting.
I know that most people leave after a couple of years, but does anyone know how much value it adds to your career in terms of having the "stamp"/developing management skills?

Similar to audit, I know that consultants often get hired in to companies at manager/director levels but not sure if that's a roundabout path since I'm currently studying for my MS in ACCT.
Management consulting definitely helps with getting into other specialties. Top companies do plenty of hiring from the consultant ranks.
Topic Author
csm14
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Re: What's the most "interesting" job in corporate finance?

Post by csm14 »

Thank you all!

Another question:

I'm currently working as an intern at a public accounting firm on a hedge fund client. My longer term goal is to work at a F500 company. Does it make more sense to try and ask to be moved to the Commercial group for my full-time offer? I have previous experience interning at a F150 company in a corporate finance role-maybe I can spin this?
LFKB
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Re: What's the most "interesting" job in corporate finance?

Post by LFKB »

I would say private equity and venture capital are the most interesting. You get to meet a lot of management teams and are constantly putting on your investment cap and making decisions on the capabilities of the business and the management team as well as potential ways Tj improve it. You can also implement change as you occupy board seats.

Hedge fund work seems less interesting. Typically more number driven and less operational change.

Corporate development could be interesting in well, for many of the same reasons as PE and VC, but you would really be focus on just one company/industry most likely.

I could never work in audit.
staythecourse
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Re: What's the most "interesting" job in corporate finance?

Post by staythecourse »

MikeG62 wrote: Wed Nov 08, 2017 8:31 am
Steps I'd recommend. I guess I would offer the following bits of advice:

1. Work "harder" than everyone else.
2. Work "smarter" than everyone else - don't waste time and be as efficient as possible.
3. Get things done quicker than everyone else - and consistently at a very, very high quality. It's OK to make mistakes, but don't make the same ones more than once.
4. Look at every task or assignment or job you have as an opportunity to learn something new and develop or refine your skills - no matter how boring some aspects of the job or task are (and sometimes it will be boring). Stop focusing on the boring and instead focus on what you can get out of the experience.
5. Volunteer for (seek out) the biggest and most challenging opportunities. Slay those opportunities.
6. Always have your boss(es) back.
7. Be thought of as the one "go to" person by everyone more senior than you.
8. Be totally reliable and dependable. You want to be the single person that comes to mind when the most difficult or most challenging jobs come up.
9. Communicate well (but don't over-communicate) - there is a line here.
10. Ask questions and ask for clarity when things are ambiguous. You may often hear, the only dumb question is the one not asked. It is mostly true.
11. Don't be high maintenance. When someone asks for the time, tell them the time, don't tell them how the clock works. Senior people hate almost more than anything else someone who wastes their time. They want to know the issues, but not extraneous bull sh_t.
12. Stay out of the gossip mill (avoid the water cooler). Don't talk about anyone else. Focus solely on being the best you that you can be.

Lastly, maintain the absolute highest level of ethics and morals in everything you do. This is non-negotiable. Your moral character must be above reproach.

Hope that is what you were after with the question.
-------------------------------------------------------------------------------------------------------

EDIT: Adding the following additional thoughts (to make the above list more comprehensive).

These are from a presentation on Keys to Success I gave several times during my career (only adding points not covered above):

1. Listen first (get the facts) - speak/act second.
2. Consider all possible options and implications of your decisions - ask second and third order questions (peel back the layers of the onion) and anticipate questions (be ready with answers).
3. Be collaborative - get buy-in from others, including key stakeholders. View the matter from the other persons perspective.
4. Judgment is critical - you "must" develop good judgment.
5. Learn from your mistakes - do not make the same ones a second time. More importantly, learn from other peoples mistakes (so you avoid making them in the first place).
5. Act like a business owner - what information would you want to make the decision.
6. Be invested in your decision - it should "really matter" to you that you are right.
7. Add value to "everything" you touch
8. Treat every decision as if you job depended on your being right.
9. Don't be afraid to make some decisions on your own - don't run every thought process you have past your boss.
10. Don't guess (unless it's a highly educated guess).
11. Remove all emotion from the situation - it's always business, not personal.
12. Act - do not react.
13. Perception is reality -if someone's perception of you is wrong do everything you can to change it.
14. Observe other successful people - determine what makes them successful and try to model your actions and behaviors to emulate them.
15. Don't be a clock watcher - the day ends when you get the important things done that need to get done, not simply because it is 5pm or 6pm or 7pm.
Man, I have nothing to do with the corporate world, but that was some of the BEST pieces of work advice I have EVER heard/ read. I loved the analogy of when someone asks for the time just tell them the time instead of explaining how the clock works. Also love the listen first then speak second. I think communication both in listening and speaking is becoming a lost art. With so much done via texting and emails folks are getting worse with direct communication. Thanks for the great advice. I'm going to remember this list and refer others to it who are in the corporate world.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle
ETadvisor
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Re: What's the most "interesting" job in corporate finance?

Post by ETadvisor »

Add value to everything you touch. I need to use that line on my performance assessment. Thanks :D
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robolove
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Re: What's the most "interesting" job in corporate finance?

Post by robolove »

MikeG62 wrote: Wed Nov 08, 2017 8:31 am Steps I'd recommend. I guess I would offer the following bits of advice:
<snip>
I’m not in finance...but good gems...thank you :beer
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3CT_Paddler
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Re: What's the most "interesting" job in corporate finance?

Post by 3CT_Paddler »

MikeG's advice applies to just about any line of work... well stated Mike.
itsgot8
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Re: What's the most "interesting" job in corporate finance?

Post by itsgot8 »

Thanks to MikeG for posting his list. Absolutely awesome advice, which I've copied to a word file and will definitely reference many times in the future.
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One Ping
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Re: What's the most "interesting" job in corporate finance?

Post by One Ping »

MikeG62 wrote: Wed Nov 08, 2017 8:31 am ... In my experience, if you perform better than everyone else ... , [y]ou will become the "go to" person, you will get the juicy opportunities and if you rise to the occasion you will be successful.

... I guess I would offer the following bits of advice:

...
...
Wow!

Great advice, regardless of the profession or field of endeavor. This list is going to my nieces and nephews for them to ponder in the pursuit of their careers.

Thanks, Mike!

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clutchied
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Re: What's the most "interesting" job in corporate finance?

Post by clutchied »

I would get a CPA or CMA and then get an MBA. I haven't seen much value add from a MA in acct.... UNLESS you want to specialize in tax or something similar but then you're also running into the JD crowd.

I have a CPA license and the doors it has opened are amazing. I'd hire a CPA or an MBA anyday of the week. One is a practitioners license with years of experience and state testing requirements. the other is just school.


Medical group finance is pretty interesting as well as healthcare finance in general.

The really hot field is M&A and probably always will be.
JuniorBH
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Re: What's the most "interesting" job in corporate finance?

Post by JuniorBH »

I did 4 years in audit at a Big 4 and then transferred to the M&A group doing financial due diligence for the last 7 years. Certainly more interesting than audit and it's currently a very hot space which is likely to continue. As someone mentioned, the hours/travel can be challenging, but the work is interesting and it's a good transition from audit (almost our entire group comes from audit).
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