Goal: CFO Would a Corporate Finance and Accounting Major w/Minor in Economics work?

College Majors Business Major
1

Yes my goal is to be the CFO of a company one day. But I do plan on like climbing the corporate ladder (Jr. Accountant, Sr. Accountant, Controller, etc.). So would a Corporate Finance and Accounting Major from Bentley with a Minor in economics fulfill what I have planned for the future? Or should I go the MBA route.

2

I don’t really plan on going the double major route.

3

My dad’s a CFO for a large, high-profile company in Chicago. He has a major in Accounting and he got his MBA. But, what you are going for sounds like a good plan to me!

4

I’m just curious if I would need the background of economics and if an accounting degree would cover everything or if I’d need the financial background as well.

5

First the goal of being a CFO is fine but 1) recognize that there isn’t no straight or assured path to becoming a CFO. I know people who have reached that level with CPAs, MBAs BS degrees etc. Recognize that a good degree can get you in the door at a company but how you perform as an employee and your ability to keep learning from those you work will will move you up the corporate ladder. Sometimes you need a luck break or two as well. 2) You could be CFO of a tiny two person company or CFO of a fortune 50 company and they will be very different jobs. IMO getting the title CFO isn’t as important as your actual role and responsibility.

Pursue the degree you want, work hard and see what happens. There are no guarantees no matter what your degree is. I don’t think a minor in economics would make a difference one way or another.

6

Thanks and yes I understand there’s no direct path. That’s why I had mentioned the ladder. But when it comes down to business, whoever has the most skill, smarts, and socialibility (ooh 3 s’s) to fulfill the job within the company will get the promotion. In which the smarts come from college.

7

And I do plan on taking the CPA exam, even though my plan isn’t to be a Certified Public Accountant

8
  1. Most of the smarts you will need to move up the corporate ladder are not from college. (and I am a CPA who has moved up the ladder). While your undergraduate school will provide an important base of knowledge is it, you must be able to continue to learn and grow after college that will help you to be successful.
  2. IMO it makes no sense to do the hard work required to pass the exam and not become a CPA (although do you need 150 credits to become certified which may take an additional year of college). You would be giving up a huge credential that can certainly help you in terms of getting promotions as you move forward in your career.
  3. I would not focus on the “I want to be a CFO when I grow up” idea and instead simply focus on doing well in school for now. Then you can see where life takes you – trust me it doesn’t always follow a predetermined plan and goals can change.
9

My $.02: get an accounting degree, pass the CPA & get your license, get 4 or 5 years of Big 4 audit experience. At that time you can either go back for an MBA or see what opportunities are available for you in industry.

10

@happy1 and @arc918
Thank you for your input! I will definitely take that advice! Happy, thank you for taking the time to give me all your knowledge on being a CPA. Helped a lot with thinking about it. And Arc, thanks for the laugh with the two-sense thing. I had never seen that before so u got my thinking cap on before I had even gotten three words into what you had to say!

“There’s never a day without wonder”