How to Crush Your First FP&A Job

"Rise Above The Numbers" by FP&HEYWant to hit the ground running in your first FP&A job?Learn how we did just that.Which helped us learn about our businesses and take on new opportunities.🔥TIP: Here’s a resource to help you plan your first 6 months as an FP&A manager.Show Notes* 01:20 - Take ownership of your job, that’s why they hired you.* 02:45 - Stay organized, you’ll be asked to do a lot of tasks at once.* 05:00 - Question everything, you and your boss won’t know everything.* 06:50 - People want to help, so ask them for it.* 07:15 - Write your key learnings down every day, be proud of that list.* 07:55 - We repeat, ask people for help and take darn good notes.* 08:55 - Share what you learn with your peers and team by recording it.* 10:00 - You can learn SQL from your engineers, just ask.* 11:40 - To be a great leader lead with learning, show your team how.* 12:36 - Ask questions, be organized, and embrace learning.What can you expect in your first FP&A job?The phrase “drink from a fire hose” covers it nicely.There are deadlines you need to meet.Adhoc requests you need to complete ASAP.And people from all business functions asking for data you may not have to hand.You can look at this in 2 ways:* Holy sh#t I’m going to tap out to stop the craziness* Holy sh#t I see an opportunity for me to level up my career skillsWe recognize option #1 is tempting, it crept into our brains too.Here’s how to take on option #2 and maximize your learning.Note either option will likely trigger you to say a choice adult phrase.🔥TIP: Here’s an approach to help you ace your next FP&A interview.Why FP&A Is the Ultimate Learning Platform?We may be biased.But we’ve experienced firsthand how FP&A propelled us and others around us to new career heights.Here’s why:* FP&A offers a holistic business view, there’s no place for revenue, expenses, and cash to hide* FP&A is a field where continuous learning is needed to succeed across data, communication, and business knowledge* FP&A engages with ALL departments and provides unique under-the-hood looks at business operationsThe trick is to accelerate your FP&A learning curve by hitting the ground running.🔥TIP: Get really good with data by learning Excel data tables.🔥TIP: Learn how to present financial info in a way people will actually pay attention.🔥TIP: Business partner with your Marketing Team to learn that part of the business.Ways to Speed Up Your FP&A Learning CurveThink of FP&A as a wet towel.And the opportunity available to FP&A is the water absorbed by the towel.Your trick is to wring out as much water as possible.Here are 3 things that helped us wring out the proverbial FP&A wet towel:#1 Take Full Ownership of Your JobYou will be given tasks like:* Variance analysis* Expense management* ReportingRise above the numbers and spreadsheets.Understand what the numbers are, how they come to be, and ways to make them better.Even if your boss doesn’t ask you to.🔥TIP: Here’s how to do variance analysis.#2 Leverage The Resources Around YouEveryone starts out knowing close to nothing, including us.Don’t be afraid to ask questions.The trick is to take great notes and constantly learn from those around you.And leverage already existing resources like your company’s wiki page.You’ll find gold in the form of business knowledge.#3 Learn Things Outside of Your Job ScopeAs you learn and meet new people something awesome happens.New areas of learning open up.Embrace those new areas, even if it’s outside your job scope.You’ll be surprised at how relevant that learning can be to your job.Conclusion: You Can Shorten Your FP&A Learning CurveGetting FP&A jobs can be challenging.And once you get one maximize the opportunities they offer.Don’t fear knowing nothing, embrace it and become the expert.You got this FP&A thing.Resources▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey▪️ Email us your burning FP&A questions at info [at] fpandhey.comThis is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com