Traditionally, finance career progress has been correlated with technical expertise. For example, you have probably progressed because you were able to master the numbers, close the books efficiently, and deliver timely, accurate reports. Then at some point there’s a new dawn in your career, one that requires skills beyond technical competence alone; this time, there’s the additional roles of leading people, developing strategies, and communicating complex finance projects to either finance folks (or increasingly, non-finance people).
If you are currently trying to navigate the demands of being a finance leader or it is your desire to progress in your finance career, remember you don’t need to do it alone. Taking any of these steps requires clarity, intentionality, and having a direction designed from your personal strengths and skills.
You can start by booking a Free Chemistry Discussion with me to learn about the support I provide for finance leaders and professionals.
This article is written to provide the necessary information for finance career progression and how to navigate the challenges you may encounter as you work on progressing your career. Now let’s dive in.
What Finance Career Progression Really Means
What comes to your mind when you hear “finance career progression”? A straightforward and predictable road that takes you from a mid-level finance position to a leadership role? The truth is that progression within your finance career is not simply about racking up titles in any particular organisation, but it is about broadening the scope of your role, your professional impact, and your mindset. Progression here means minimising time on routine tasks to handle a more robust organisational strategy.
As you progress in your finance career, you become less of the kind of person who simply reports numbers and more of someone who uses these reports to inform stakeholders of what comes next in the organisation, and to influence business decisions. Progression in your finance career will also be determined by your ability to communicate data clearly and challenge business assumptions while guiding business decisions.
Doing all these well will no doubt involve having interactions with other departments in-house or even externally; hence, the need to develop the ability to build relationships and to translate complex finance jargon to understandable and actionable business narratives.
How to Get Promoted in Finance
Progression and getting promoted in your finance career require more than being an expert who produces error-free reports. Don’t get this wrong: your technical competence is a baseline requirement, but leadership is rarely attained solely on this basis. One of the practical steps to getting promoted is developing the ability to spot operational challenges before they become obvious, providing data-driven solutions to necessary departments, and communicating that influences broader organisational goals.
To be seen as valuable, you have to be visible and be able to demonstrate your value clearly to decision-makers for leadership roles. There’s also the need to help develop others who work with you or under you. When decision-makers identify you as a professional who understands how to manage people, communicate complex topics clearly, and work cross-functionally, then you will be readying yourself for the next steps in your finance career.
What to Do When You Feel Stuck
In your quest for career progression from finance professional to finance leader, you may hit a plateau, and this could look and feel like doing the same routine tasks, where you’re always working on numbers and handling routine closing and reporting. To break out of this cycle, you’ll need to stop waiting for the opportunity to present itself; rather, you will need to take intentional and proactive steps – not doubling down on operational tasks but identifying your leadership skills gaps (and opportunities). This could include assessing your personal brand, considering your executive presence, and defining how you show up cross-functionally.
A candid assessment of your current role, and how this may (or may not) provide you with the necessary opportunities to stretch and grow, will help you start creating the learning and development opportunities needed for progression. Career progression is not an accidental outcome; it is a product of taking intentional steps towards the right direction.
Deciding Whether to Take the Step Up
You may also have some doubts about progressing your career further. This is completely normal, no less because moving into higher roles can look difficult and demanding. It is important to know that it is entirely natural to feel a sense of excitement mixed with imposter syndrome when desiring leadership roles, and that’s because becoming a leader means you are now responsible for the results of your own efforts but also for the results of other people’s actions (and inactions).
So before you embark on the journey of progressing to leadership roles, ask yourself these questions while ensuring you provide honest feedback too: Do I want a leadership role because I am genuinely interested in leading people and shaping future organisational outcomes, or is it because I want a bigger salary?
Taking a step up in your career into leadership roles will demand a measure of emotional resilience and performance well in stressful and uncomfortable situations.
Does Career Progress Always Mean Climbing?
Often, career progression is only seen as an upward, relentless movement, always aiming for a greater level of responsibility. But true career progression does not always take this form; rather, it may sometimes mean moving laterally to gain wider business operational exposure, strengthen your professional skills, and move into roles that better reflect your personal values and your life outside work.
If you think career progression means doing more and more to prove yourself, you could find yourself getting burnt out. You may also get yourself into a position that drains your energy instead of exciting you. Define what success and progress mean to you (at your current career stage), then see yourself doing something rewarding and enjoyable.
Knowing What Kind of Leader You Want to Be
How do you intend to lead? It is easy to dream of being a leader; it is exciting, of course, but the true reality of leadership is being able to define how you are going to handle your desired leadership position. One of the easiest things some finance professionals do when they want to define how to lead is to try to mimic some of the past bosses they’ve come across, replicating their style of management and even their habits; sadly, this may also mean making the same mistakes as they did.
To attain real career progress in finance leadership, you need a leadership style that reflects who you are authentically. Consider if you want to be the leader who micromanages people or the one who helps to develop and empower finance teams that are high-performing and work with constant handholding. Intentionally craft your leadership values; this will make you a much more authentic and effective leader.
Getting Noticed and Moving Well in Your Career
In finance, you don’t get noticed simply because you are the professional who always submits impeccable reports. If your aim is to truly progress in your career, then you have to ensure that the hard work you exert in putting together those reports connects with your visibility and personal brand in a way that decision-makers will spot it. Now, this does not mean vague self-promotions or even getting involved in bad office politics; it means doing your job in a way that leadership values.
Building momentum also implies that your impact is felt across departments; be the one who understands your peers’ struggles, and if you can offer assistance when necessary, by doing all of these in the visibility of the right people, you will get noticed and also maintain your reputation.
How Finance Leaders Grow Their Careers
As you aim for senior finance roles, you’ll understand that the expectations differ greatly from being a great finance professional, and it is something people rarely achieve alone. Listening to experienced leaders and receiving honest feedback are all important for progress. This is the key reason many finance professionals seek the services of a career and executive coach, as they aim for progression or find themselves stuck in their current situation.
The right coach provides the space required to think, steers you to clarity, and supports you in your decisions. As a career and executive coach, I offer 1:1 career and leadership coaching for finance professionals, where I bring to our discussions over 2 decades of finance experience I have gathered handling finance leadership roles, as well as a decade of coaching leaders. Book a Free Chemistry Session with me today so we can discuss where you are and how I can help you get to where you are aiming for, quicker and easier than on your own.