Thoughts on Transitioning from Big 4 to FP&A
Hello everyone,
I’m reaching out for some insights and advice regarding a potential career shift I’m considering.
Background:
I am a CPA with four years of Audit experience at a Big 4 firm. I then transitioned into a Valuations & Financial Modeling role at the same firm, where I’ve been for the last few years. Based in Canada, my focus has primarily been on SME valuation reports for tax purposes, restructuring, fairness opinions, and transaction support—alongside a significant amount of financial modeling. Additionally, I collaborate with the Audit team on Purchase Price Allocations (PPAs), fair value reporting, and impairment assessments. I’ve always harbored an interest in private equity and considered investment banking as a potential pivot, but I’ve come to realize that I prioritize work-life balance too much to pursue that path. I’m concerned that spending a few more years in my current role could lead to a narrow skill set, making it harder to make a change down the line. I’m not sure I see myself in this position for the long haul.
New Opportunity:
I’m currently interviewing for a Manager of Corporate Financial Planning and Analysis (FP&A) position at a well-regarded company experiencing significant growth. The role involves FP&A responsibilities along with the consolidation of global segments. What excites me is that the company and its products align closely with my personal interests. Plus, the role comes with a potential salary increase of 20-35%. However, I do have some concerns about the possibility of getting bored, although I lack clarity on what the day-to-day responsibilities truly entail.
I know I don’t want a traditional Accounting job; I’ve realized that a controller position isn’t for me. I thrive on large-scale operational and strategic financial modeling, cash flow analyses, and deriving insights from financial data. I enjoy presenting my findings to clients and executives. While I can handle financial reporting at a high level (like Accounting advisory work), I wouldn’t be interested in the routine details of a conventional Accounting role.
My long-term ambitions involve finding a balance of engaging work, work-life balance, competitive compensation, and opportunities for advancement. The idea of eventually stepping into a director of finance or even CFO position is something I find appealing.
As I consider this transition, I wonder: Will I regret leaving Big 4 Valuations in the long run? Am I worrying too much about becoming too specialized? What types of individuals typically enjoy a career in FP&A?
Thanks for your thoughts!
One response
Hey there,
It sounds like you’re at a pivotal point in your career, and it’s great that you’re thinking critically about your path forward. Here are some thoughts on your situation and potential move to FPA:
Alignment with Interests: Since you mentioned being passionate about the company and its products, this could lead to increased job satisfaction and engagement. Working in an area that resonates with you personally can be a significant motivator.
FPA vs. Valuations: Transitioning to FPA can provide you with a broader skill set that is transferable across various industries and roles. FPA often involves strategic thinking and financial analysis, which seems to align well with your interests in operational and strategic financial modeling. The focus on decision support rather than just reporting might keep you engaged.
Work-Life Balance and Career Growth: It sounds like you’ve prioritized work-life balance, which is essential for long-term career satisfaction. A 20-35% raise is also a considerable incentive and could contribute to your overall quality of life. The potential for upward mobility in FPA can align with your goal of reaching a director or CFO position.
Specialization Concerns: While it’s true that staying too specialized can limit your options, your background in valuations and financial modeling is a strong foundation that will serve you well in FPA. The skills you’ve built are highly relevant and can be seen as an asset rather than a hindrance.
Boredom Factor: It’s valid to worry about boredom in a new role, especially if the day-to-day tasks are unclear. Consider asking during your interviews about the variety in daily tasks or projects that might come up. Understanding how dynamic the role can be will help you gauge whether it’s a good fit.
Who Enjoys FPA?: People who thrive in FPA usually enjoy analyzing data, working closely with different business units, problem-solving, and influencing strategic decisions. They often appreciate the blend of analytical work and communication, similar to what you described enjoying about your current role.
Ultimately, it’s about finding a position that aligns with your long-term career aspirations while also addressing your current priorities. If after your research and discussions you feel positively about the transition, it could be the right move for you. Remember, career paths aren’t linear, and this pivot might open new doors you didn’t anticipate.
Best of luck with your decision and the interviews!