Is Changing Careers a Smart Move?
I’m currently employed at a school in the transportation department. While I don’t handle accounts payable for the bus companies, I do verify over $500k each month for services rendered. However, I’m eager to explore other career paths that offer higher pay, as I’m currently earning less than $50k. It’s been six years since I completed my undergraduate degree, and I believe I can achieve more.
I’m also pursuing my MBA with a concentration in Accounting. What would be a good career direction for me? I’m considering Financial Planning and Analysis (FP&A). Any advice?
One response
It’s great that you’re considering a career change, especially since you’re already pursuing an MBA with a concentration in Accounting. With your current experience in transportation and accounts verification, you have a solid foundation that can be leveraged in several financial roles.
FP&A (Financial Planning and Analysis) is indeed a strong option, as it focuses on budgeting, forecasting, and analyzing financial data to help companies make informed decisions. Your background in verifying substantial financial transactions could be beneficial in understanding budget vs. actual analyses and financial reporting.
Here are a few other career paths you might consider:
Corporate Finance: This includes roles in financial management, treasury, or investment analysis. It can be rewarding and often pays well, especially as you gain experience.
Accounting: With your MBA, you could pursue a role as a financial accountant, management accountant, or even prepare for certification (like CPA) to enhance your credentials further.
Investment Banking or Private Equity: If you’re open to it, these fields tend to offer higher salaries but are also more demanding. They could suit you if you enjoy a fast-paced environment.
Risk Management: Assessing and mitigating financial risks is crucial for many organizations. This field often intertwines with financial analysis and can be quite lucrative.
Financial Consulting: If you enjoy problem-solving and advising companies on financial strategies, consulting might be a good fit.
Remember to leverage your network and consider internships or entry-level positions in your desired field while completing your MBA. This hands-on experience can be invaluable and help you transition more smoothly into a new career. Good luck!