Finance Manager and unsure of career progression...

[Lostprophet]

Hi folks,

I am an ACMA accountant. I qualified in 2011, currently 32. I have been at my present company for a year. I need to stick it out to pad out my CV for another 2 years.

I work in London and the salary is okay however I need to hitting better jobs in 2 years from now and earning more than I am.. at least another £10-15k. I am feeling a bit lost in approach. I want to do better and over the next 2 years need to look at what I can do to get into a better job.

I am currently doing a MSc and planning to start a MBA in Jan '14. I do not think this will be of benefit in the short term. I am doing it again partly for my CV and partly for my own peace of mind.

Any advice on offer please from experienced finance professionals?

Kind regards,

LP.

[NightRunner]

What type of finance mgr? Business partnering? Analytics? Etc

[Lostprophet]

I run the management reporting and annual accounts, the complete deal from invoicing to budgeting and forecasts. Also I have been working on business development projects which is where I think will help me with my career development. I am changing the business operations, new systems, controls, processes and also introducing new tech into the business to add value.

[Gargamel]

Lost

Hi, whilst I am sure there will be many a recruitment agent on here gagging to get hold of your CV, I think I could offer you some slightly more impartial advice.

I will PM you.

[Simond S]

Look at the fast track companies. Pitch yourself to them as they are looking to grow. having started with a small budget for accounts staff you have the opportunity to shine into a FD in a growing company.

Swap salary for a slice of the action. Show you are willing to risk your own security to grow the company, profits and your share.

Research is everything. Unless you have some ideas that will move the company forward you are just another columnist. No offence intended, but anyone can run a spread sheet and advise how much is owed, payment dates and schedules.

You need to offer more than that.

[matt3001]

How would you identify these 'fast-track' companies?

[Countdown]

Lostprophet said:

Hi folks,

I am an ACMA accountant. I qualified in 2011, currently 32. I have been at my present company for a year. I need to stick it out to pad out my CV for another 2 years.

I work in London and the salary is okay however I need to hitting better jobs in 2 years from now and earning more than I am.. at least another £10-15k. I am feeling a bit lost in approach. I want to do better and over the next 2 years need to look at what I can do to get into a better job.

I am currently doing a MSc and planning to start a MBA in Jan '14. I do not think this will be of benefit in the short term. I am doing it again partly for my CV and partly for my own peace of mind.

Any advice on offer please from experienced finance professionals?

Kind regards,

LP.

Apologies if I'm being simple ;

1. What industry / sector do you want to work in?
2. What skills / experience do you need to work in that sector?
3. Get the skills/experience
4. Apply for jobs in relevant sector

"I want a job that pays more money" is a bit simplistic. If you enjoy the industry you're in at the moment and want to progress then I'd suggest the following ;

1. Volunteer for projects/working groups
2. Network within and outside of your organisation
3. Gain experience and raise your profile

What industry are you in? What's the next step up?

[z4chris99]

where you doing your msc ?

[northandy]

Lostprophet said:

Hi folks,

I am an ACMA accountant. I qualified in 2011, currently 32. I have been at my present company for a year. I need to stick it out to pad out my CV for another 2 years.

I work in London and the salary is okay however I need to hitting better jobs in 2 years from now and earning more than I am.. at least another £10-15k. I am feeling a bit lost in approach. I want to do better and over the next 2 years need to look at what I can do to get into a better job.

I am currently doing a MSc and planning to start a MBA in Jan '14. I do not think this will be of benefit in the short term. I am doing it again partly for my CV and partly for my own peace of mind.

Any advice on offer please from experienced finance professionals?

Kind regards,

LP.

What industry are you in?, what size is the company your at currently?, is there an FD?.

I'm ACMA and work in manufacturing currently, have worked at FC level in petro chems and FMCG. in my experience working for a bigger company offers so much more, the company i work for (have about 12 years with them, over two spells) is a big international company (circa 120,000 employees worldwide) offers a lot more opportunity and to be honest pays a lot better, be that salary bonuses and benefits.

Is there line of sight to a promotion where you are?, it sounds like your getting good experience there.

[Lostprophet]

I have experience in auditing, internal audits, management accounting - budgeting and forecasting, software implementations, investment fund pricing and now in my current job process change and driving business forward along with the usual accountant type reporting. Process change and business development is definitely what I enjoy and I feel the MBA will help somewhat in the value-add role I will be potentially looking for post qualification. I think consultancy will be hard to break into.

I worked in the profession, petrochemical testing, property, property funds asset management and now back in property but in development. My Cv looks as follows:

1. Accounts assistant - age 20-23 - local firm of chartered accountants (3 years - moved for career progression)
2. Assistant regional Management Accountant - Intertek PLC - FTSE 100 Petrochem testing company. (2 years - Job relocated to Kent so moved to central London for a new role)
3. Assistant Management Account - Liberty International PLC - FTSE 100 Property firm (2 years - Wanted to break into asset management and was contacted by Schroders)
4. Assistant Fund Accountant - Schroders - FTSE 100 Asset manager(18 months - redundancy)
5. Group Accountant - Carpathian Asset Management (1 year contract) - AIM listed Asset manager
6. Assistant Finance Manager - Henderson Global Investors - FTSE 250 Asset manager (6 months contract)
7. Finance Manager - age 32 - For a property development company (been here 13 months).

I am now planning to be in this job for another 2-4 years to stabilize my CV. The development project is another 4 years. My Commercial Director calls me the Finance Director... I am not sure if that is a hint of what they expect for me.

My uncertainty is in what I should aim and head towards. I need a path to progress.

My MSc is in Strategic Business Management. It is an excellent course. Very glad I am on the programme. It is definitely good to be back to studying. It is a good warm up before I hit the MBA!

There are 2 FD's, both in our investing companies. We do not have a FD in my company. There is no promotions insight even though I out-performed my scope and expectation in my first year. It is early days I suppose.

My salary is market standard, bonus was 9.5% (highest in the company), no health care, no pension or otherwise and 23 days hols.

Thanks again for the questions and input.

Edited by Lostprophet on Wednesday 3rd April 15:53

[z4chris99]

Your CV sounds just like the guy at the other end of my office...

Which developer do you work for?

[Lostprophet]

The company set up is quite interesting. One of our JV investing partners is a PE house. They are quite good at what they do. Our other investors are a property developer. They again have a good reputation. Not disclosing names on here as recruitment consultants will be on the phone and I am not looking to leave!