FP&A is the sexiest job in finance
FP&A is the sexiest job in finance…
While this may seem like an overstatement, FP&A positions are becoming incredibly popular and sought-after.
Many finance professionals are starting to feel that they are too focused on historical data, reporting, compliance, etc.
Moving into FP&A from other fields of finance, such as accounting and audit, has recently become very trendy. Internet is full of advice, courses and trainings focused on this transition.
So, what is so special about the FP&A role that it attracts that much attention and has almost become a buzzword within the finance community?
Well, there are many reasons for that. But first, it should be probably mentioned what FP&A is not about: IT’S NOT ABOUT NUMBERS, REPORTING OR CODING.
Of course, FP&A deals with data and reports, but this is not the essence of the job, not its primary output and definitely not its most appealing part.
FP&A is about the unique position in the organization
FP&A teams work closely with each and every department in the company which sets them apart from other finance roles. Moreover, no other function in the organization has such an exposure to different aspects of the company’s activities. This creates exceptional opportunities for deeper understanding of the business as well as for development of strong relationships across the departments.
FP&A is about strategy
FP&A is a bridge between finance and strategy. The ability to see the big picture and how the numbers fit into it together with the seat at the decision-making table create both a possibility and an opportunity to participate in the building of a roadmap of a company’s success. This makes FP&A one of the key functions in the company.
Another aspect of the role is to evaluate the financial impact of new business initiatives. FP&A teams usually spice things up a little by challenging proposed initiatives and projects. This usually helps uncover hidden risks and pursue those proposals that contribute to company’s strategy and financial objectives.
FP&A is about influence and impact
Insights and recommendations provided by FP&A to decision-makers can directly impact an organization’s performance. The role can make or break a company’s future, so there is no need to say that these recommendations should be relevant, timely and reliable.
FP&A is perfect for those who are ambitious, want to contribute to company’s success and are not afraid of responsibility that comes together with the glamorous side of the job.
FP&A is about development
One of the characteristics of FP&A as a discipline is its dynamic nature. It is challenging and thrilling to work in the field that is constantly evolving. FP&A roles require to stay up to date with the latest trends and technological advancements which can be leveraged by the function. This constant need to learn and adapt to changes keeps the job interesting and beneficial for personal and professional growth.
Many skills acquired in FP&A positions are transferrable to executive roles, such as CFO and CEO.
FP&A is about opportunities
Uncertainty related to the business environment seems to increase every year, so do data volumes and needs for insights in the organizations. Many companies want to benefit from informed decision-making identifying opportunities for growth and increasing profitability.
In these circumstances the demand for finance professionals with excellent analytical skills, strategic thinking and the ability to provide and communicate recommendations is growing exponentially. This combination of skills is extremely powerful and at the same time very rare. No wonder, according to various surveys, FP&A roles are the most difficult to fill.
Candidates for FP&A positions possessing that rare combination of qualities and skills are much in demand among organizations that try to attract best talents.
On the other hand, FP&A roles are desired by job seekers for diverse tasks, challenging responsibilities and opportunities for personal and professional development.
All that being said, FP&A is definitely a sexy job if the word “sexy” can be applied to something related to finance.