What a Strategy and Finance Manager at DoorDash Wishes They Had Known Before Entering the Tech Industry
Justine, a Manager (Strategy & Finance) at DoorDash, transitioned from investment banking, where their team "was driving the revenue," to a tech company, and found a significant shift in influence and responsibility. The role offers "a much better work-life balance," but less direct impact on the company's vision compared to the engineers and product managers who "are the one[s] executing."
Career Development, Industry Realities, Compensation, Work Life Balance, Leadership
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Justine Lee
Manager (Strategy & Finance)
DoorDash
University of Pennsylvania, Wharton, 2016
N/A
Economics
Technology
Finance
Honors Student, Scholarship Recipient
Video Highlights
1. The transition from investment banking to tech finance involves a shift in influence and responsibility. In tech, finance plays a crucial role in managing resources but the primary drivers of company vision and execution are typically engineers and product managers.
2. Work-life balance in tech finance is often better than in investment banking, but this comes at the cost of less direct influence on major company decisions and potentially less exposure to the C-suite.
3. Understanding the different revenue drivers in tech companies versus financial institutions is critical. In investment banking, the finance teams may be the primary revenue generators, while in tech companies, revenue generation involves many different teams (e.g., engineering, product, marketing).
Transcript
What have you learned about this role that you wish someone would have told you before you entered the industry?
When I came into this role, my longest stint was in investing. I think what I might have wanted to know in the transition from investment banking, where you're driving the deals, to doing finance at a tech company is about the shift in influence.
A tech company is not a finance company or a bank. You might work less and have a better work-life balance, but you also have less direct influence.
In tech, finance may hold the purse strings and control the dollars, but ultimately, it's the engineers, product managers, and designers who execute on the company's vision. They are the ones creating the next best product, not necessarily the finance person.
This shift in focus impacts everything in the role, from ownership and c-suite exposure to compensation. It's an obvious fact, but when moving roles, you can take certain things for granted. I took for granted that in banking, our group was driving revenue, without considering how other revenue drivers exist at a tech company.
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