Transitioning to Corporate finance Without Accounting Experience
Hello everyone! I graduated 1.5 years ago with a degree in finance and have completed Level 1 of the CFA program. I’ve spent the last two years in a business development role, leveraging my sales skills, but I’ve decided it’s time to shift my focus to corporate finance.
However, I don’t have any formal Accounting experience. What steps should I take to transition into this field? I’m open to pursuing the CPA as well. I’d greatly appreciate any guidance or advice. By the way, I’m based in Singapore, which may be relevant. Thank you!
One response
It’s great to hear that you’re interested in making a transition to corporate finance! Here are some steps you can consider to help you break into the field despite your lack of Accounting experience:
Leverage Your Current Role: In your business development position, focus on understanding how business decisions affect financial performance. Try to get exposure to financial reporting, budgeting, and forecasting within your organization. This will give you valuable insights and experience.
Network Strategically: Connect with professionals in corporate finance both online (LinkedIn) and locally. Attend industry events, seminars, or workshops to meet people and learn more about the field. Personal connections can often open doors to job opportunities.
Explore Entry-Level Positions: Look for entry-level roles in corporate finance or related areas such as financial analysis, budgeting, or treasury. Positions like financial analyst or junior accountant may help bridge your experience gap.
Enhance Your Skills: Consider taking additional courses in Accounting, financial modeling, and corporate finance. Online platforms like Coursera, Udemy, or even local universities may offer relevant coursework. This will not only enrich your knowledge but also signal your commitment to potential employers.
Consider CPA or Other Certifications: Since you’re willing to pursue CPA, that could be a great asset. In Singapore, the CPA designation is well-respected and can improve your employability in corporate finance roles. Alternatively, certifications like CFA (which you have started) or CIMA can also strengthen your profile.
Tailor Your Resume: Highlight relevant skills from your business development experience, such as analytical skills, financial acumen, and any exposure to financial decision-making. Make sure to showcase your CFA Level 1 accomplishment, as it indicates your commitment to finance.
Be Open to Internships: While you have work experience, consider applying for internships or contract roles at firms looking for short-term assistance. This can help you gain essential experience quickly and may lead to full-time opportunities.
Stay Informed: Keep up with industry trends by reading financial news, reports, and literature. This will not only enhance your knowledge but also help you discuss finance topics confidently in interviews.
Making a switch to corporate finance can be challenging, but with determination, networking, and continued education, you can certainly set yourself up for success. Good luck!