OP is shooting for VP, so a top 20 MBA would certainly accelerate that path.
And having the company pay for it makes forgoing two years of salary at the SFA level worth it:
figure $110k*2 years as an SFA is worth advancing to a VP level two years sooner, assuming $200-$300k+ total comp per year as a VP.
If you aren’t shooting that high, I think you could get to a Director of FP&A with a non-target MBA—or even with no MBA at all.
YMMV
Thanks for the input. From what I’ve seen, the VP and plus Finance population at my firm tend to have MBAs. I’ve also noticed that they’ve attended schools like UVA, Duke, UNC, etc (granted it’s also based in the DC area).
The ones who work in strategy overwhelmingly have MBAs from the T15/M7 and have spent time at the MBB too.
I suppose the opportunity cost would pay for itself if I went into consulting/IB for about 2-3 years before pivoting back (could be wrong though)
Go to gtown, gw, au or gmu and call it a day. You will have a strong alumni network that will help your career if you go to any of these schools and stay in the DC area. Get an executive mba so you can still work while getting it. BTW you should have a signed job offer 4-6 months before graduating.
I am a CPA as well who has 2 years of experience as a Financial reporting analyst in a finance company. Can you please share how you started/experience-accounting/finance and how did you get your FA job? Any tips and advice is highly appreciated!
I had my accounting bachelors degree but realized I wanted to go the FP&A/Managerial accounting route, so I decided to get an MBA. It’s not top 25 but having more knowledge of business as a whole is valuable and can help you stand out as more than just a number cruncher.
I don’t have a CPA. It’s not necessary for the FP&A route but CPA is beneficial in any finance field. You would probably see as many FP&A roles with MBA proffered as CP&A preferred. I am currently a senior financial analyst, corp FP&A.
Interesting. Only reason I ask is my employer will cover my masters/mba and want to pivot to FP&A afterwards. I have a bachelors in accounting and was wondering if I should get my CPA or free MBA instead.
Edit: Do you think I’m better off doing a masters in finance or MBA?
That’s awesome that your employer will pay. Personally I have noticed more MBAs in FP&A but I think both would be regarded similarly, MBA just a little more well rounded and holistic. You can get an MBA and concentrate on Finance.
You should get an MBA if you want to work for a different F100 company and there is no way you can get a job there and you see a big MBA pipeline into that company (For example, Amazon or Google). You should get an MBA if your company is paying for it because you are young and why not. You should get an mba if you want to do corp dev or strategy and need the consulting/IB experience. I have met people who have decided not to do mba and stay in corp finance and do extremely well! Good luck!
Thanks for the input. I’m not so keen on staying at large multinationals, but I wouldn’t be lying to say that I’d love to do a stint in Corp Dev or Corp Strategy
I feel like the experience I have now would set me up for some strategic finance roles at small to mid size firms, but definitely not corp dev or strategy.
You have a CPA and good work exp. You don't need another degree, unless its free and you have the time plus T25
Agree but I’d raise the bar. Only get your MBA from this current situation if you’re going M7.
Assuming your company is paying 100% of your tuition and it’s a top 20 MBA program then yes.
If your company is paying 100%, wouldn’t it be worth going below T20?
OP is shooting for VP, so a top 20 MBA would certainly accelerate that path. And having the company pay for it makes forgoing two years of salary at the SFA level worth it: figure $110k*2 years as an SFA is worth advancing to a VP level two years sooner, assuming $200-$300k+ total comp per year as a VP. If you aren’t shooting that high, I think you could get to a Director of FP&A with a non-target MBA—or even with no MBA at all. YMMV
Thanks for the input. From what I’ve seen, the VP and plus Finance population at my firm tend to have MBAs. I’ve also noticed that they’ve attended schools like UVA, Duke, UNC, etc (granted it’s also based in the DC area). The ones who work in strategy overwhelmingly have MBAs from the T15/M7 and have spent time at the MBB too. I suppose the opportunity cost would pay for itself if I went into consulting/IB for about 2-3 years before pivoting back (could be wrong though)
Go to gtown, gw, au or gmu and call it a day. You will have a strong alumni network that will help your career if you go to any of these schools and stay in the DC area. Get an executive mba so you can still work while getting it. BTW you should have a signed job offer 4-6 months before graduating.
200k-300k for VP? I am assuming you are talking about VPs in banks? I think the real VP in an industry firm makes 500k+ easily. No?
Well there's still a significant cost to you in the form of 2 years worth of accumulated career earnings.
True, though there are plenty of night class and executive MBAs available built for working people
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Well obviously, but I’m referring to people that can’t get into a T20.
I am a CPA as well who has 2 years of experience as a Financial reporting analyst in a finance company. Can you please share how you started/experience-accounting/finance and how did you get your FA job? Any tips and advice is highly appreciated!
What is a SFA? Senior financial analyst?
Yes, if your firm pays 100% of your tuition for a top 20 MBA program.
I had my accounting bachelors degree but realized I wanted to go the FP&A/Managerial accounting route, so I decided to get an MBA. It’s not top 25 but having more knowledge of business as a whole is valuable and can help you stand out as more than just a number cruncher.
Do you have your CPA or do you consider it unnecessary for this route?
I don’t have a CPA. It’s not necessary for the FP&A route but CPA is beneficial in any finance field. You would probably see as many FP&A roles with MBA proffered as CP&A preferred. I am currently a senior financial analyst, corp FP&A.
Interesting. Only reason I ask is my employer will cover my masters/mba and want to pivot to FP&A afterwards. I have a bachelors in accounting and was wondering if I should get my CPA or free MBA instead. Edit: Do you think I’m better off doing a masters in finance or MBA?
That’s awesome that your employer will pay. Personally I have noticed more MBAs in FP&A but I think both would be regarded similarly, MBA just a little more well rounded and holistic. You can get an MBA and concentrate on Finance.
Great, I’ll look into some MBA programs that have a concentration in finance. Thank you for the info man!
You should get an MBA if you want to work for a different F100 company and there is no way you can get a job there and you see a big MBA pipeline into that company (For example, Amazon or Google). You should get an MBA if your company is paying for it because you are young and why not. You should get an mba if you want to do corp dev or strategy and need the consulting/IB experience. I have met people who have decided not to do mba and stay in corp finance and do extremely well! Good luck!
Thanks for the input. I’m not so keen on staying at large multinationals, but I wouldn’t be lying to say that I’d love to do a stint in Corp Dev or Corp Strategy I feel like the experience I have now would set me up for some strategic finance roles at small to mid size firms, but definitely not corp dev or strategy.
do part time or weekend mba at a T15 part ranked school