What A CFO At Compass Diversified Wishes They Knew Before Entering Finance
Ryan, Compass Diversified's CFO, suggests two entry-level paths: a traditional accounting route, starting with "audit firms" for broad exposure, or an investment banking path involving "two years in investment banking" followed by a graduate degree and private equity experience. Both routes, according to Ryan, can lead to a C-suite position.
Accounting, Finance, Investment Banking, Private Equity, CPA
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Ryan Faulkingham
CFO
Compass Diversified
Lehigh
Fordham MBA
Accounting
Finance (Banking, Fintech, Investing)
Finance
Video Highlights
1. Several avenues exist for entry-level positions in finance, including traditional accounting roles (audit, tax, or accounting at a business) and investment banking.
2. Audit firms offer broader exposure and experience compared to single-company roles, and larger organizations generally provide more opportunities for recent graduates.
3. An alternative path involves investment banking, potentially followed by a graduate degree and a transition to private equity, eventually leading to a C-suite position in private equity or a publicly traded investment firm.
Transcript
What entry-level positions in this field might an undergraduate college student consider?
I'd say there are two avenues into my seat. One is more traditional, the one I took.
This would be coming out of an accounting program, working towards your CPA, and getting experience in audit, tax, or accounting at a business. I think audit firms are a better place to start your career because you get more exposure.
You get more clients and work for more people, learning a lot more, versus working at a single company, which I think sometimes limits your career. I'd also recommend trying to get into the largest organization you can, as they generally have more opportunities for younger graduates.
Outside of traditional accounting as a first step, I think the other way would be more of the investment banking route. This would require two years in investment banking, then potentially going back to get your graduate degree.
After that, you'd come through traditional investment banking into a private equity role. You could then eventually land a C-suite seat at a private equity firm or a publicly traded investment firm like ours.
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