A Full Guide on Becoming the CFO of a Company

A CFO title is one of the most prestigious achievements in the corporate industry. But getting to

that level requires great effort and devotion to the practice. If you have held different office

positions in your career and have recently been pondering of possible advancement options,

transitioning to a CFO seems like one of the more lucrative options.

What is a CFO?

A chief financial officer is responsible for the administration, risk management, and financial

operations of the company. They are also involved in developing strategies to improve the said

company areas and create metrics to gauge its effectiveness. If the strategy is not up to par, the

CFO is in charge to tweak it.

Requirements to Become a CFO

Education-wise, an aspiring chief financial officer must have a Master's Degree in Accounting or

Business Administration. If not, an equivalent business program and 10+ years of experience

working for a major corporation will suffice.

To be considered for the position, the right candidate must also have experience collaborating

with an executive team and the personalities it necessitates including leadership and

communication skills. Written and oral communication abilities play critical roles in a CFO

position since several important decisions land on your desk on a regular basis.

Priority is given to candidates with an MBA in Finance, CPA or CMA so if you're still in high

school or early college, it may be best to consider these extra coursework. If the company you

are applying for has extensive operations that spans overseas, it may also be a plus to know more

than one language. This will allow you to conduct business transactions with foreign associates

without any communication problems.

Preparing Yourself

There are tons of ways to prepare yourself into the CFO transition. For starters, try and collect as

much financial experience as you can. Fundamentals in budgeting, analysis, and other

accounting principles are some topics you can dive into early on.

Another good practice is to widen your customer service experience. Becoming a CFO entails

having to speak to many people and having to attend many events. Building social skills at an

early stage can prepare you for the high pressures and intense social environments that the

complex corporate world brings.

Bottom line, working to become a CFO is no easy task. Nonetheless, it pays off in the end with

high salaries and a high role satisfaction rating. In fact, 57 percent of CFOs love their work and

don't plan to switch jobs anytime soon.

Gennady Barsky is the CFO of JetSmart and a global entrepreneur.