I started as a Controller for a mid-size manufacturer a few years back. The CFO and I had an understanding that he would mentor me and give me experience to better my skill sets so I would be prepared to be a CFO one day. To say that we’ve been short staffed in this accounting department is an understatement. As a result, I haven’t received much opportunity to work on budgets, forecasts or strategic decisions. The CFO hired a ‘bro’ of his to be the first Finance Manager that our company has ever had. I don’t think Bro, let’s call him Bryce, has the experience necessary to do the job but as the CFO puts it “he has potential.” The guy is only a couple years out of college. Bryce is now learning all of the things I was hoping to learn. Is there any advice on how to bounce back from this, or approach my boss, or should I look to jump to another company? Also, since FP&A is a something I need to learn, is it possible to move laterally without taking a huge pay cut if I have no FP&A experience? Looking forward to your brutally honest opinions and advice! Thanks.
Better off just leaving. CFO doesn’t care about developing you since you’re not his bro.
So many things to address with this question and I don’t know all the facts of your particular situation, so, I’ll just speak from personal experience.
To give a bit of background, in my first three corporate roles, I didn’t know how to play office politics. I thought it was stupid and a complete waste of time. However, I didn’t progress in those roles.
At my fourth company, I decided that no matter how horrible things were, I would stick it out and have a good attitude, because I didn’t want to continue jumping jobs every few years. It also motivated me to get my CPA. Here was my career path at this company in a span of 7 years: Fixed Asset Analyst > General Accounting Analyst II > Internal Auditor I > Internal Auditor III (yes I skipped a level) > Audit Senior > Operations Controller.
How did I do it? Keep reading:
- Took on extra projects which meant lots of late nights and weekends sometimes
- Had a friendly attitude. I built a reputation for being a nice person to work with and was always willing to help.
- Express to management my goals for the position I wanted next. Got them on my side to help me get promoted.
- Got my CPA using http://www.rogercpareview.com.
- I had great relationships with my managers. I still keep in touch with some of them even though I’m no longer at that company.
Hope sharing all this helps. Don’t waste your time worrying about others cutting corners or getting ahead of you. Just work harder, smarter, and have a great attitude even if you are super frustrated on the inside. Your time will come! Volunteer to take on projects or sit in on budget meetings. I was the fly on the wall in so many meetings above my level, but I always made sure to introduce myself after the meeting to everyone who was seated at the table. Eventually, they knew my name and my face. Make yourself known.
If after doing all that and you are still getting no where, then it may be time to move on. But be patient. I shared my journey and it took 7 years! Now, I work for myself in my own business.
i recommend you speak with google
> I had an understanding that he would mentor me
> and give me experience to better my skill sets so
> I would be prepared to be a CFO one day.
Ummm yeah. You understood wrong.
I’ve had the same career path as @MelanieCPA above. I absolutely refused to play “the game” when I was younger. Right until I saw a couple of people I previously mentored get promoted above me. That’s a kick in the crotch right there I’ll tell ya.
So… regarding @MelanieCPA’s steps 1 – 5, ditto all of that but here’s #6:
6. Trust NO ONE!
I’m not saying don’t play the corporate politics game, and I’m NOT saying don’t be pleasant to anyone. Give them the finger in your mind’s eye but make sure you have a smile on your face. What I am saying is soon as you put your faith in someone, don’t be surprised if they let you down — RARELY, if ever, are someone else’s motivations aligned with your motivations.