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I think I figured out what I want to do with my life

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Originally posted by: JS80
I think the fastest way is to get a 3.8+ in college, go into investment banking, get MBA, then become CFO of a small startup, and if you are successful at growing the company you can be CFO of larger companies.

Most CFOs are NOT accountants. In fact a Legal Degree with I-bank experience and corporate dev will give you a better chance than getting your CPA. CPA = accounting monkey. CFO = generates new revenue/maximizes current revenue.
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I am not a monkey.

ooo, ooo, ooo....
 
1. You must major in something that has to do with finance or economics, then, get your CPA <- important. After you've done all that, look for a job with a start-up company that has potential, sacrifice the big corporations benefits for a few years, put in a lot of work. Negotiate for the title upon entry and during your stay, wait for them to grow big.

2. ..........
3. Profit.
 
Originally posted by: leftyman
Originally posted by: TheoPetro
Originally posted by: animalia
I recommend the health field. High demand for all positions (except maybe podiatry, lol) and very rewarding.
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I wouldnt be doing it for the $ at all. If I got paid 50k a year to do that job I would in a second.
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50k is still pretty damn good money.
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yea it is...in India
 
Originally posted by: CPA
Originally posted by: JS80
I think the fastest way is to get a 3.8+ in college, go into investment banking, get MBA, then become CFO of a small startup, and if you are successful at growing the company you can be CFO of larger companies.

Most CFOs are NOT accountants. In fact a Legal Degree with I-bank experience and corporate dev will give you a better chance than getting your CPA. CPA = accounting monkey. CFO = generates new revenue/maximizes current revenue.
Click to expand...

I am not a monkey.

ooo, ooo, ooo....
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lol...

Originally posted by: TheoPetro
I had thought of investment banking but heard pretty bad things from 14hr days for the first few years and that most of them get burned out quite quickly. I dont mind working my ass off but I dont want to be burnedout by 30. I also want to fit a family in there.
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Well don't expect to work less than 60-100 hours a week as an executive at a legit company. Even accounting and finance monkeys work those hours.
 
Originally posted by: TheoPetro
Originally posted by: animalia
I recommend the health field. High demand for all positions (except maybe podiatry, lol) and very rewarding.
Click to expand...

I wouldnt be doing it for the $ at all. If I got paid 50k a year to do that job I would in a second.
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what job? you have to be specific. health care professionals make anywhere from 25,000 to 400,000 dollars a year. you have to be specific. there are hundreds of things you can do the the health field. if money is your primary concern well.....good luck I guess...
 
Originally posted by: animalia
Originally posted by: TheoPetro
Originally posted by: animalia
I recommend the health field. High demand for all positions (except maybe podiatry, lol) and very rewarding.
Click to expand...

I wouldnt be doing it for the $ at all. If I got paid 50k a year to do that job I would in a second.
Click to expand...

what job? you have to be specific. health care professionals make anywhere from 25,000 to 400,000 dollars a year. you have to be specific. there are hundreds of things you can do the the health field. if money is your primary concern well.....good luck I guess...
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I guess I dont really care what field im in. I have a feeling being a CFO will be the same at most companies of the same size. I dont think it would differ too much with the field.
 
I honestly have no idea, because I'd never want to be a CFO and don't know any (well, I do know a few, but they're of small companies). I do however have a few recommendations that I think applies to almost all goals:

1) Don't ask random people. This would include me as well, but I'm merely deflecting you from our advice. I think I just confused myself. Anyway, I would probably aggregate all the bios of CFOs from major corporations and see if you can identify some common paths. I'm betting that you won't, and that it all comes down to performance. You can have the best background in the world academically, but when it comes to practice not everyone has what it takes.

2) I personally wouldn't choose such a lofty goal. I at least wouldn't focus on it. I think it's more productive to simply say you want to be successful in accounting, and keep reevaluating your current position and what you can do to get to the next level. In my experience, people that focus too much on the ultimate goal tend to lose sight of what's happening currently, and in so doing they tend to neglect precisely what it takes to get to that level. Take the most out of every experience, even if it's entry-level bean counting.

3) Don't listen to anyone that says it can't be done. If that truly is your goal, then just stick with it and it'll happen.

😀
 
Originally posted by: Descartes
I honestly have no idea, because I'd never want to be a CFO and don't know any (well, I do know a few, but they're of small companies). I do however have a few recommendations that I think applies to almost all goals:

1) Don't ask random people. This would include me as well, but I'm merely deflecting you from our advice. I think I just confused myself. Anyway, I would probably aggregate all the bios of CFOs from major corporations and see if you can identify some common paths. I'm betting that you won't, and that it all comes down to performance. You can have the best background in the world academically, but when it comes to practice not everyone has what it takes.

2) I personally wouldn't choose such a lofty goal. I at least wouldn't focus on it. I think it's more productive to simply say you want to be successful in accounting, and keep reevaluating your current position and what you can do to get to the next level. In my experience, people that focus too much on the ultimate goal tend to lose sight of what's happening currently, and in so doing they tend to neglect precisely what it takes to get to that level. Take the most out of every experience, even if it's entry-level bean counting.

3) Don't listen to anyone that says it can't be done. If that truly is your goal, then just stick with it and it'll happen.

😀
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:thumbsup: best post of the thread.
 
CFOs generally make the most money of anyone at a company. Partially because they go down in flames if anything happens. Big companies usually pay around 30-50 million.
 
Originally posted by: Stiganator
CFOs generally make the most money of anyone at a company. Partially because they go down in flames if anything happens. Big companies usually pay around 30-50 million.
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I don't get outta bed for less than half a bill.
 
That's including stock options... Hell this year already a company I used to work for has an executive with 9 Mil in exercised options. It's not even February!
 
Originally posted by: JS80
Originally posted by: BigJ
Originally posted by: JS80
i don't think OP understands what a CFO does
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Hot chicks?
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indeed...
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I think a CFO is responsable for internal auditing, managing the controller, managing the accounting in the firm, finding new sources of income for the company, and advising the CEO on financial issues. Thats just off the top of my head.
 
Originally posted by: Canun
Accounting, then an MBA from a good school. Then throw in a few years of working your way up the ladder, applying to new jobs every 6 months, and then you might make it. My dad is one, he changed jobs every two years to keep moving up.
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QFT. CFO is the end result of a career path, not the type of job you just go apply to.

I think a CFO is responsable for internal auditing, managing the controller, managing the accounting in the firm, finding new sources of income for the company, and advising the CEO on financial issues. Thats just off the top of my head.
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Depending on the size of the company, that could be correct. However, in a large company, pretty much all a CFO would do is oversee the overseers of those types of programs. You'd have to really love management.
 
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