CFOs without a practice background?

Doing a little research into the backgrounds of the CFOs of most large organisations, and they tend to have a big 4 background & the ACA.

Why aren't there more ACCA/CIMA executives helming their finance functions? This seems odd - particularly when you consider these companies tend to exclusively offer their finance graduates the ACCA or the CIMA by way of professional development. What happens to these people? Don't they end up as CFO?

Reply 1

ajj2000

Original post by oakroys

What size of organisation? If you are talking FTSE 250 upwards then yes - most of the graduate trainees will not end up as CFOs of that size of business.

Reply 2

oakroys

Original post by ajj2000

What size of organisation? If you are talking FTSE 250 upwards then yes - most of the graduate trainees will not end up as CFOs of that size of business.

What becomes of them? Do they just languish in middle management? If so, what would compel someone to become a finance graduate at a large company if the odds of their reaching the top are low?

Reply 3

ajj2000

Original post by oakroys

What becomes of them? Do they just languish in middle management? If so, what would compel someone to become a finance graduate at a large company if the odds of their reaching the top are low?

Basically yes - most are in middle/ senior management. Same for most ex big 4 who go into industry,

So what compels people:

- they are attracted by the chance - much like most other professions its a minority who hit the top positions
- their average outcome in terms of salary etc is still pretty good
- the starting salary is way more than the graduate median.