Transitioning to finance Early in My Career
I’m 22 and recently graduated, currently working as a business analyst with a salary just over $70,000. However, I feel like my career path isn’t very clear unless I stay with my current utility company.
I majored in finance but didn’t pursue any finance internships, although I really enjoyed classes like financial modeling. After doing some research, I believe that a career in Financial Planning & Analysis (FP&A) could be a great fit for me, but I lack any professional experience in Accounting or finance.
I’m curious if anyone else has faced a similar situation. I’ve read that a common piece of advice is to seek an entry-level financial analyst position focused on budgeting and variance analysis, then work up from there. Any thoughts or experiences to share? Thank you!
One response
It’s great that you’re thinking about your next steps in your career! Many people find themselves in similar situations, especially if they take a non-linear path after graduation. Your current role as a business analyst actually provides you with valuable skills and experience that can be transferable to finance, especially in areas like data analysis, reporting, and problem-solving.
Transitioning to an FP&A role is definitely a solid choice, especially since you have a finance background and enjoy financial modeling. Here are a few suggestions to help you make that pivot:
Leverage Your Current Skills: Highlight how your analytical skills and experience in your current role can apply to financial analysis. Focus on any projects that involved budget tracking, forecasting, or data analysis.
Networking: Connect with professionals in the finance field, especially those in FP&A roles. Informational interviews can provide insight and also lead to potential job opportunities. Use platforms like LinkedIn to build your network.
Get Relevant Certifications: Considering certifications like CFA Level 1 or a certification in financial modeling can enhance your resume and show your commitment to the finance field.
Explore Entry-Level Positions: While you mentioned looking for an entry-level financial analyst role, don’t hesitate to apply for positions that may not be specifically “FP&A” but involve related tasks. Roles in budgeting, forecasting, or even areas like data analysis could serve as stepping stones.
Upskill: If you have the time, online courses in financial modeling, Excel, or financial analysis can help you become more competitive in the job market.
Tailor Your Resume and Cover Letter: Make sure to customize your resume to highlight relevant coursework, projects, and skills that align with FP&A positions. Your enthusiasm for finance will come across in your cover letter—emphasize your interest in transitioning into this field.
Remember, many people have successfully transitioned into finance from different backgrounds. Your willingness to pivot and learn is a significant asset. Good luck!