It may sound powerful and fabulous to be in a director’s position but the way to get there is everything else but easy, especially when talking about the director’s work in the finance field. You need determination and reliability to your own work and an interest to improve yourself all the time so that the results will be as good as possible.
A director of finance works with business and manages plans and budgets so that the companies will earn most money they can. As the word ‘director’ indicates, finance directors are a strong part of the board of directors in the company. He or she is the one who knows everything about the budgets.
Becoming a director of finance does not happen just by sitting and waiting for the job to come to you. It starts by getting a Master’s degree in Business Administration followed by years and years of work experience and knowledge in the field. Some extra courses or further training is always a great addition in your personal record sheet. According to Aalto University (Develop your Financial and Strategic Competence – Aalto University), you learn the basics of the financial world at school, in addition, expand your communication and leadership skills and understand the financial position of the company. But when working in the industry, you will get to use that knowledge and that will make you an excellent employee.
In addition to obtaining great papers through education and work, a person needs to own a really good mental health. For instance if something needs to be decided immediately the director can see the whole organization and understands what is a good conclusion just for that company, not only in the short-term but also in the long-term. You also need a strong mind for handling crises and sudden situations, excellent people and communication skills to be able to work in the group of directors and to the information to the others.
Even though someone might think that working in the finance industry is monotonous or straightforward, it is not. In general, the tasks of a financial director include the following:
- monitoring the cash flow and the business performance,
- observing the budgets,
- preparing, developing and surveying accounts and
- planning strategies and future overall.
It is also important to remember the working hours and business trips. Daily working hours are usually 9 am to 5 pm from Monday to Friday. Usually the job also includes lots of travelling. There is, however, something that everyone should keep in mind. The salary. It is quite great even as a trainee. According to Total jobs (Finance director job description – Total jobs), the best salaries one can earn can be found in the London area. The earnings in Finland vary between EUR 2 000 – 12 750 euros per month. I would claim that it is quite an effective motivation to study and work as hard as possible.
Knowing how to deal with the companies’ financial management will get you to a great and high post in the financial market. As mentioned above, it requires a lot to work to become a director of finance. But when you become one, you have a spectacular CV, impressive people skills and you are phenomenally talented in maths. You can say that you’re on the top!