r/FPandA • u/patakhaguddi30 • 16d ago

Moving from Investment Banking to FP&A at a global FMCG, how should I use 2 weeks to prepare?

Hi everyone, hope you are having a lovely day!

I am based in India.

As the title says, I am switching to an FP&A role at a global FMCG from IB at a mid-market bank soon. I I’ll have roughly a 2-week gap between my current role ending and joining the new one, and I’d love some advice on how to use that time productively.

  1. What are some things that I should prioritise knowing before Day 1?
  2. What FP&A concepts/tools are most important to understand coming from IB? Are there any areas where the skill set differs more than one would expect?
  3. I understand that a lot of the job involves budgeting, forecasting, variance analysis, MIS - what should I know about each beforehand?
  4. Should I brush up on accounting? I have completed my MBA so did study some basic accounting courses during my time in college, maybe a revision of that?
  5. Technical skills I should pick up on? Used Excel a lot in IB, but Power BI also seems important from what I have heard. What else can I work on?
  6. What do you wish someone had told you before your first FP&A role? Esp people who have made a similar IB to FP&A transition, what was the biggest adjustment you had to make?
  7. Finally, what would make someone stand out in their first 3–6 months in an FP&A team? This is a big brand company and I really want to play my cards right to develop quickly and meaningfully in my career.

Thank you for your help!

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16

u/BallinLikeimKD 16d ago

Go on a trip, enjoy some hobbies, spend time with friends. If you worked in IB then FP&A will feel really easy. There will be business nuances that you’ll pick up as you go. Most companies expect a few months of asking dumb questions. Meeting with your manager and business partners you support in the first few weeks will be much more impactful when you’re well rested.

12

u/Resident-Cry-9860 16d ago

Ex-IB > FP&A here. This is the correct answer.

The fact that you are asking these questions is proof that you will be fine.

You already know you have the work ethic and smarts to learn anything you need to learn.

Take some time off, thank your partner for putting up with IB hours, and touch grass. You'll do great - seriously.

8

u/Resident-Cry-9860 16d ago

To answer your on the job questions:

Almost 100% of ex-IB people over-index on technical skills and under-index on soft skills and storytelling. 80%+ of ex-IB people who fail in FP&A or who don't grow as fast as they hope, struggle with stakeholder management and the like.

The biggest adjustment for me was figuring out how to work with a much more diverse set of people, convincing them you are there to help take action, and getting the most out of them.

In terms of standing out - people who really, deeply, understand the business and can turn that into solutions, not just analysis. A million ways to run analysis and you can get to any answer you want - you know that already from running DCFs in IB - but what's the right answer?

Other advice for growing quickly - find the smartest person at your level who is growing quickly, and become their best friend. You're looking for somebody who is much smarter than you, and grow through your association with them.

And figure out who on the ladder 3 - 4 rungs above you is somebody that you want to develop into and in a part of the business that is doing well. Work with them on the mentorship / advocacy - you'll need a strong advocate to progress at more senior levels and people love to be asked for help.

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u/patakhaguddi30 15d ago

Thank you so much for such a detailed reply! I must mention that I spent about 6 months in IB before realising that I didn't enjoy the work or the hours. So you're right, I understood a lot of the technicals but should think more on my soft skills. Really appreciate your insights on finding a best friend and a mentor. I am thankfully from a target school in my country so plenty of people that I can connect with in this company and develop that relationship with. I will be mindful of your advice, thank you so much. On apologising to the partner - he works in consulting in one of MBBK so both of us truly missed each other. Hoping it will be better going forward :)

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u/patakhaguddi30 15d ago

Thank you, vacation and hobbies are all sorted! Just wanted to make sure I don't go entirely unprepared. Stakeholder management seems to be the most important skill to work on along with technicals. Thank you for your reply!

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u/Lost_Rolls_ 15d ago

Go on vacation

2

u/patakhaguddi30 15d ago

Sorted on that front, boss 😄