How to Break into Financial Planning & Analysis (FP&A): Your Complete Guide
No one right path exists for breaking into FP&A. There are many ways one can go about working in FP&A. Several of the most common paths we see for working in FP&A include:
Working in FP&A straight out of college
Transitioning from Public Accounting to FP&A
Moving from Corporate Accounting to FP&A
Switching from Investment Banking to FP&A
Using an MBA to pivot into FP&A
Transitioning from Consulting to FP&A
The above list includes several of the most common ways people start working in FP&A, but there are many other paths people take. FP&A is not taught in college, and not many people come out of college knowing what FP&A is, let alone wanting to work in it. I had no idea what FP&A was in college or grad school. Below is my story and thoughts on the most common ways to get into FP&A.
During grad school, I fell in love with my finance classes and earned an MBA with a finance specialization and a Master of Science in Information Management. It was 2008, and I wanted to work in Investment Banking, but with no experience on my resume, that was not in the cards. I eventually took a finance analyst job at American Express. The role was more of a report writer than a finance person, as I worked with SQL, MS Access, and Excel all day. I also managed a cash forecast process for our AR team that was used by our FP&A team for forecasting. This exposed me to the FP&A team, but I still had no plans to work in FP&A. I was looking to get promoted, and an FP&A role came open, the hiring manager was one of the people I worked with on this forecast, so I applied because of the connection, which started my 12-year career in corporate FP&A. I fell into FP&A with no experience in accounting and limited finance experience.
However, I did have a strong reputation in the business. I worked with the operations team, supporting them with reports and analytical insights, and this was enough to get me offered the job.
My story might not be traditional, but it serves as a reminder that many paths exist for getting a job in FP&A.
General Tips for Getting a Job in FP&A
Networking: We hear that we should do it all the time, and the reason we do it is because it works. Networking does not need to be a dirty word. It is about putting yourself out there and getting to know people. It can be as simple as attending networking events, commenting on posts, and connecting with people on LinkedIn. Once I started posting on LinkedIn, the opportunity to connect with people grew exponentially, and my network is bigger than ever. Make it a part of your life, and it will pay dividends.
Volunteer/Ask for a Work Assignment: Being willing to volunteer or even ask to work on a project related to FP&A. It could help with budgeting, forecasting, or conducting analysis and research on a business problem. This is a great way to get experience.
Verbalize Your Interest: Tell your boss or company that you are interested in working in FP&A. They might not be aware you have an interest in FP&A, and they could be open to helping you make the transition within your company.
Be Curious: I have interviewed many senior FP&A people, and they regularly mention that curiosity is one of the most important skills for FP&A. They often mention that they look for it when hiring, so make sure you focus on being curious and always learning.
Certifications: A great way to signal to employers that you are interested in FP&A is by earning a certification. A few certifications I think can be helpful for people in FP&A include:
FPAC by Association of Finance Professionals
Certificate of FP&A By Wharton Online & Wall Street Prep
FP&A Specialization and or FMVA by Corporate Finance Institute
Advanced Financial Modeler (AFM) by Financial Modeling Institute
Upskill Yourself: Work on developing the skills an FP&A professional needs to succeed. Below is a list of several the top technical and soft skills one needs to work in FP&A.
Technical Skills
Financial Modeling
Spreadsheet Skills (Excel/Google Sheets)
Accounting Knowledge
Soft Skills
Communication (Active Listening)
Data Storytelling
Building Relationships/Business Partnering
As you look to transition to FP&A, remember the employer is looking to hire someone that is low-risk. As you talk to employers you want them to feel like hiring you does not create risk for them and that you can do the job. The more you can help the employer realize you can do the work and will be a good hire the better.
Common Paths to Working in FP&A
Straight out of college
Recent college graduates can enter FP&A directly through entry-level analyst positions. Many companies often recruit from universities, mainly targeting students with degrees and a strong academic background in Finance, Accounting, Economics, Data Science, and Data Analytics.
If you are in college and know you want to work in FP&A, the following strategies will enhance your candidacy:
Strong Academic Perform
ance: Maintain high grades. Focus on excelling in quantitative subjects such as financial modeling, statistics, and Excel.
Internships: Secure internships in finance, accounting, or related fields. Internships are often a pipeline for full-time FP&A roles, as they demonstrate real-world experience and technical aptitude.
Technical Skill Development: Learn to use Microsoft Excel, the basics of financial modeling, learn how to use generative AI, and show a willingness for curiosity
Campus Engagement: Participate in career fairs, recruitment events, and leadership roles within finance-related student organizations.
Leadership Roles: Volunteer for leadership roles in finance-related student organizations
Focusing on networking, obtaining an internship, getting good grades, and showing leadership skills during college will position you well for an FP&A role.
Transitioning from Public Accounting
Many people who end up working in FP&A start their careers in public accounting. Public accounting experience provides an excellent foundation for FP&A. Some of the advantages and skills you bring with you to FP&A after working in public accounting include:
Strong technical accounting knowledge
Experience with financial statements and reporting
Exposure to various industries and business models
Professional credibility from Big Four experience
Well-developed analytical skills
Most successful transitions occur after 2-3 years in public accounting, often at the senior associate level. If you know you want to make the switch to FP&A, look to do the following while working in Public Accounting
Volunteer for Analysis Projects: Seek opportunities to work on forecasting, budgeting, or financial planning projects.
Build Technical Skills: Strengthen your Excel and financial modeling capabilities.
Leverage Client Relationships: Build connections with clients in finance roles to learn more about FP&A functions.
Learning about operational metrics and KPIs: The more you can learn about the operations of a business the better as it will be very valuable to you in FP&A.
By emphasizing your analytical strengths and business acumen, you’ll demonstrate your potential to excel in FP&A roles.
Moving from Corporate Accounting
Transitioning from corporate accounting to FP&A represents one of the most natural career progressions. More than once in my career I have looked to hire an FP&A analyst from the corporate accounting team. In many companies, you will already work with your FP&A counterparts, and relationships matter. Some of the benefits of working in Corporate Accounting before moving to FP&A include:
Understanding of company financials
Familiarity with internal systems and processes
Established relationships within finance
Knowledge of company-specific reporting requirements
Strong accounting knowledge.
Most transitions to FP&A occur after a few years of work, or if you work for a small-scaling company, you will often find yourself being asked to do budgeting and forecasting as the company scales. Here are a few things that can help prepare you to make the transition.
Partner with FP&A Teams: Look for opportunities to Collaborate and work with the FP&A team on special projects.
Volunteer for Strategic Projects: Seek opportunities to work on financial analysis or long-term planning.
Develop Presentation Skills: Practice presenting financial data to non-financial stakeholders, a key aspect of FP&A.
Enhance Technical Proficiency: Focus on Excel, financial modeling, and data visualization tools.
Build Relationships with FP&A: Build relationships with the FP&A team. An FP&A professional's best friend is a good accountant be that good accountant.
Tell Your Management Team: Inform your leadership about your desire to work in FP&A. They will often be able to help you make the transition.
With a proactive approach, corporate accountants can often leverage their internal knowledge to secure a role in FP&A.
Switching from Investment Banking
It is common to see people who have worked in investment banking or Private Equity switch to Corporate FP&A after a few years. Some of the best FP&A professionals I worked with started in investment banking. Investment banking professionals bring several valuable and transferable skills to FP&A. However, they must adapt these skills to be more operationally focused when they transition.
Advanced financial modeling expertise
Strong analytical and valuation skills
Strong Excel skills
Strong presentation-building skills.
Transitioning from investment banking to FP&A is relatively common, but it requires keeping a few things in mind. First and foremost is helping your new potential employer understand how your skills are transferable to FP&A. Here are a few things to keep in mind about making the transition to FP&A:
Shift Perspective: Adapt your focus from deal-making to operational planning and forecasting. Understanding the business's operations is critical to making the transition.
Learn Operational Metrics: Understand key drivers of business performance and industry-specific KPIs.
Emphasize Collaboration: Develop strong business partnering skills to work effectively with stakeholders. An FP&A role will require you to work regularly with different departments throughout the business.
Utilize Transactional Experience: Many FP&A roles involve working with Corp Dev on potential deal and leveraging your investment banking experience is a great way to help position yourself for these roles.
The key to successfully pivoting from investment banking to FP&A is positioning your experiences and selling them as a benefit to your employer. A few of your strongest assets will be your strong modeling, presentation-building, and Excel skills. Make sure to leverage these.
Using an MBA as a Pivot Point
One of the many benefits of an MBA, especially a full-time MBA, is the help it provides in switching your career direction. One of the reasons I earned my MBA was to switch what I was doing for my career and it worked. Some of the benefits that an MBA provides as you look to make the switch include:
Exposure to corporate finance and strategic planning
Strong alumni network and mentorship opportunities
Access to corporate recruiting and career services support
Summer Internship opportunities between 1st and 2nd Year
To maximize the MBA experience for an FP&A transition, I recommend keeping the following in mind:
Focus on Relevant Electives: Choose courses in corporate finance, data analysis, and financial planning. One of the mistakes I made was to focus on too many things during my MBA instead of being deliberate in the courses I took.
Pursue FP&A Internships: Secure internships in FP&A or related functions to gain hands-on experience. If you do good work during your internship you will more than likely receive a full time offer.
Engage with Alumni: Build relationships with alumni working in FP&A to learn about industry trends and job opportunities. Try to schedule meetings with alumni often as these relationships will often lead to opportunties
Participate in Finance Clubs: Join student organizations and attend conferences to expand your network.
An MBA serves as a valuable credential, helping you stand out in the competitive FP&A job market. Many jobs will state they prefer someone with an MBA for the job and earning your MBA will give you a leg up on much of the competition.
Transitioning from Consulting
Going from management consulting to working in Corporate FP&A makes a lot of sense because in many ways FP&A operates as an internal strategic consultant helping the business make smart business decisions. Some of the skills that management consultants often bring with them that are beneficial to an FP&A role include:
Strong analytical thinking
Strategic perspective
Problem-solving abilities
Project management skills
Communication and stakeholder engagement capabilities
As you look to make the transition some things to keep in mind that can better position you for a role in FP&A include:
Specialize in Finance Projects: Focusing on consulting assignments involving financial analysis or operational improvements.
Develop Industry Expertise: Gain deep knowledge of specific industries as many FP&A roles look for people with industry experience
Build Relationships with Finance Leaders: Network with CFOs and FP&A professionals during consulting engagements. You never know when one of your clients will offer you a role that you cannot refuse.
As you look to make the transition into FP&A make sure to leverage your strong analytical and strategic skills as you seek that first FP&A role.
Conclusion
Breaking into FP&A is something anyone can do if they are willing to put in the time and develop the skills necessary to attract potential employers. Whether you’re a recent graduate, an accountant, a consultant, an investment banker, or a history major, there are multiple paths to working in FP&A. By leveraging your existing strengths, acquiring new skills, and building a strong professional network; you can position yourself to obtain that FP&A job you want. As you look to make the transition, feel free to contact me with questions. You can also learn more on my website about:
FP&A Courses – I offer several courses that can help you learn FP&A
FP&A Certificates – I offer reviews and discounts on several popular FP&A certificates
FP&A Skills – I wrote an article about the top FP&A Skills that you can read here