Here are the top 3 finance career paths overview, education and qualifications, and how you can progress:
#3: Tax
Tax professionals play a critical role in ensuring compliance with tax regulations, managing tax obligations, and optimizing tax strategies.
Education and Qualifications
To pursue a career in tax, a bachelor’s degree in Accounting, Finance, Economics, or a related field is generally required. Certifications such as CPA (Certified Public Accountant) or CTA (Chartered Tax Adviser) are valuable in advancing within the tax field. Additionally, the ACCA (Association of Chartered Certified Accountants) credential is highly regarded, especially for roles with an international tax focus.
Career Path Overview
Here is the path you need to take if you want to be successful:
Entry-Level Roles: Tax Associate or Assistant
In entry-level positions, such as Tax Associate, responsibilities typically involve preparing tax returns, conducting basic tax research, and assisting with benchmarking analysis. This role often requires preparing compliance files and supporting senior tax professionals in tax filings and audits.
Progressing to Tax Senior
As a Tax Senior, you’ll take on more complex tax issues, oversee the work of associates, and offer tax planning and advisory services. Professionals may also begin to specialize in areas such as corporate income tax (direct tax) or VAT/GST (indirect tax), depending on your organization’s needs.
Advancing to Tax Manager
As a Tax Manager, you will oversee the tax department, develop and implement tax strategies, and collaborate on tax matters with various stakeholders. In addition to managing the team and ensuring compliance, Tax Managers regularly monitor changes in tax legislation and evaluate their impact on the organization.
How to Progress
To advance in tax, focus on deepening your knowledge of tax regulations and staying current on changes in tax law. Certifications such as CPA, CTA, or ACCA are valuable for career progression.
With a mix of technical skills, legal knowledge, and strategic thinking, tax professionals can progress to senior roles such as Tax Director or Chief Tax Officer, overseeing the organization’s entire tax strategy and compliance framework.
#2: Financial Planning & Analysis (FP&A)
FP&A is critical for guiding a company’s financial strategy. This field involves analyzing data, managing budgets, and providing insights that help executives make informed decisions. FP&A professionals play a vital role in aligning financial goals with business objectives by forecasting performance and identifying key areas of opportunity or risk.
Education and Qualifications
To begin a career in FP&A, a bachelor’s degree in Finance, Economics, or Business Administration is generally required. Certifications such as FPAC (Financial Planning & Analysis Certification) can enhance your qualifications, as can relevant courses in financial modeling, data analysis, and strategic management.
Advanced certifications like the CFA (Chartered Financial Analyst) are highly regarded by those seeking to deepen their expertise in finance and investment.
Career Path Overview
Entry-Level Role: Junior FP&A Analyst
As a Junior FP&A Analyst, you will analyze financial data, prepare financial reports, and create financial models. These models help management make strategic decisions by forecasting trends and evaluating potential investments or cost-saving initiatives. Proficiency in Excel, analytical thinking, and effective communication are essential skills at this stage, as you will frequently present data to support business insights.
Progressing to Senior FP&A Analyst
In a Senior FP&A Analyst role, responsibilities expand to managing budget areas, collaborating with various departments on performance initiatives, and presenting complex financial analyses to senior management. This position requires a solid understanding of both financial data and broader business strategy as you begin to influence business decisions directly. Skills in financial modeling, scenario analysis, and working with BI tools are valuable for this role.
Moving into Finance Manager
At the Finance Manager level, you would lead the financial planning process, oversee budgeting across the organization, and drive company-wide performance initiatives. This role requires strategic insight, leadership, and the ability to guide junior analysts. Finance Managers often work closely with senior leaders to set financial targets, assess potential investments, and oversee the health of the organization’s finances.
How to Progress
To advance in FP&A, focus on refining your financial modeling skills and developing a deep understanding of the business's key performance drivers. Courses in data analysis, visualization, and business intelligence tools like Power BI or Tableau will enhance your ability to present insights clearly and impactfully.
Pursue certifications like FPAC, CFA, or advanced Excel and data analysis courses to strengthen your credentials. Actively seek cross-functional projects to gain exposure to different areas of the business, such as marketing, operations, and strategy, as this will help you build strong relationships across departments and better understand the financial impact of business decisions.
With these skills and experiences, FP&A professionals are well-positioned for higher-level roles that combine financial insight with strategic decision-making, such as Finance Director or Chief Financial Officer (CFO).
#1: Accounting and Audit
Discover this part in the full article as well as a focus on leadership roles in finance (including CFO).