According to Adecco, there has been a slight slowdown in 2024 across various roles, including Financial Planning and Analysis (FP&A) jobs.
Hiring managers are becoming more stringent with their hiring criteria, such as candidates’ financial technical knowledge, analytical skills, business acumen, relevant industry background, and exposure to data analytics tools, etc.
To succeed in FP&A, a combination of both soft and hard skills is vital.
The most proficient and skilled FP&A professionals are those who can leverage soft skills to complement their technical skills. They combine proficiency in data analysis, financial modelling, and visualisation tools with skilled communication skills to present complex data that is easily digestible and actionable.
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Calvern Tan, Manager for Senior & Executive Search, A&F at Adecco, also shared the following with CareersCompass when it comes to FP&A roles:
- Financial technical knowledge is important as FP&A professionals are the Finance Business Partners of the business team and the bridge between the business and financial accounting teams. They need to be able to provide insights and recommendations that comply with the finance practices and enable the business team to achieve goals that are aligned with the company’s direction.
- Analytical skills allow FP&A professionals to interpret complex data, identify patterns, and generate insights. These skills enable accurate forecasting and budgeting, supporting effective resource planning. Besides, FP&A professionals use analytics to assess KPIs, evaluate goal achievement, and diagnose variances to drive performance improvements for the business team across the organisation.
- Strong sense of business acumen and relevant industry background: Business acumen and industry-specific experience enable FP&A professionals to understand revenue and cost drivers, making realistic projections and strategic recommendations. Each industry has unique approaches to financial modelling, revenue recognition, cost analysis, and reporting standards. Therefore, hiring managers prefer candidates with similar industry backgrounds, as this helps FP&A teams perform effectively, strengthening decision-making and supporting long-term objectives.
- Exposure to data analytics tools is important: The trend driving FP&A professionals’ need for data analytics tools is digital transformation. With the rise of big data, advanced analytics, AI, and machine learning, businesses are handling more complex and voluminous data. This demands tools that can process and analyse data efficiently, providing real-time insights. Increased business complexity and the need for quick, informed decisions further push the adoption of these tools. Automation also improves efficiency, enabling FP&A professionals to focus on strategic analysis rather than manual data processing.
- Technical skills—particularly data analytics and proficiency with data analysis tools—are essential for FP&A professionals to stand out in today’s market. These skills enable FP&A teams to process and interpret large datasets efficiently, derive actionable insights, and enhance forecasting accuracy, making them valuable contributors to strategic business decision-making.
Sustainability skills and mid-careerists are in demand
Not only does the industry stand to benefit from the rise of FP&A, so do the professionals who choose to pursue this field.
FP&A roles offer a diverse range of opportunities to work with different departments, stakeholders, and international markets, opening up possibilities for leadership roles in finance and business operations.
Additionally, due to their unique ability to synthesise information quickly and understand both macro and micro-objectives of the business, these professionals are well-compensated.
Calvern added: “With the increasing emphasis on ESG and sustainability, these areas have also become essential for FP&A professionals.
“FP&A professionals require expertise in ESG knowledge, data analytics, sustainability financial modelling, and regulatory awareness. Key skills include integrating ESG factors into financial strategies, forecasting sustainability impacts, and collaborating across departments.
“Mid-careerists with a financial accounting background and good analytical skills would be a great addition to FP&A teams. They can bring their expertise in accurate financial reporting, budgeting, and forecasting.
“Their attention to detail, data interpretation, and ability to identify cost-saving opportunities also enhance financial modelling and support strategic decision-making. ”
Ultimately, FP&A is the future of finance and commerce. It is not just a trend. It is a necessity for both the industry and for career growth.
It is time to take note of the rise of FP&A and embrace the challenge, develop the skills, and seize the opportunities that FP&A has to offer. The future belongs to those who can turn data into insights and insights into impact!
This article was done in collaboration with Adecco.
