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typical career path for a financial analyst at a large company would be and what the daily job is like (i.e. how it compares to consulting, investment banking, what kind of work is done, etc)?
Completely unrelated to typical career trek in banking or consulting. Not even close.
Basically, right out of college, you can join accounting/finance programs at Fortune 500 companies via OCR. (that's how most people without any work experience gets hired).
Then depending on the company (not all Fortune 500 work the same way), you may have to spend 4-7 years as analyst/senior analyst role before having a chance to get promoted to manager or director level. Some companies like to just throw out "titles" as if they are promoting you, while other companies - it takes years to get manager title, and much longer to get even "director" title. At some companies, "Director" title is equivalent to VP title at other companies.
If you are joining finance/accounting dept from another job - unless you have really relevant work experience to the job that you are applying for, you may get treated like a second class citizen to CPAs or MBAs.
Daily role? Pretty boring at most companies. It also depends on the company. With retail companies, they may work you to death because 1) all they do is cost-cutting 2) many refuse to invest in IT so you may have to deal with really poor decision supporting system 3) unhappy companies have unhappy co-workers + incompetent people
A lot of companies like to "rotate" you in various roles from accounts payable, treasury, budget & planning, business analysis, etc etc. It is nice way of saying, we can't promote you but we can give you new roles every couple of years.
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Finally, not to be superficial, but what is compensation like at senior levels and how is the work-life balance.
Depends on where you work. They have to pay you more in some cities (NYC, SF, etc) compared to other cities. One can expect to get about $40K-$45K in the midwest right out of college.
At senior levels, it depends on your role and whether you have CPA, MBA, etc. Unless you are a star and you get constantly promoted, your salary may be lower (as someone who stayed with one company for years) compared to someone just hired from outside for similar role. This is due to HR BS and its compensation policy. I had one client from my previous career where they hired a manager for finance role from outside with MBA and CPA designation. That person's salary was higher than the Director's salary that he reported to.
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typical day is like/what responsibilities are involved?
Depends on the company. But most Fortune 500 companies have boring workdays unless you are in the middle of a closing week (accountants), or budget planning process (financial reporting & budgeting), or preparing for 10K, etc. Again, depends on the dept and the company.
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how much accounting would I need for jobs like this?
A lot. Whether you have finance major or accounting major, all you do is accounting in Fortune 500 finance dept (unless you work in Treasury dept).
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For an accounting major, I'd have to take a lot of taxation classes, which I have no interest in whatsoever. If I need a CPA for positions, I'd rather just go for a MAcc designed for non-accounting majors and do it that way than waste another year learning the same crap in the MACC program.
No idea what this means. Undergraduate Accounting Major = MAcc Curriculum. You learn basically the same thing. Usually you don't take more than 1 or 2 tax classes (one on individual tax and another on entity tax) as accounting major. MAcc for non accounting majors HAVE to take tax courses. Why? It's on the CPA exam.
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Accounting requires a lot more classes in a narrow discipline, and if I major in, for example, finance, I'll be able to take math classes and more advanced economics classes instead of just doing the same accounting courses, and then learning it again in the MACC. Plus, if I do finance, I'll be able to graduate ahead of schedule and save a fair amount of money on tuition and housing, plus I'll be able to travel and do more of what I want.
You can say the same about every single major. That's what MAJOR is for. You HAVE to concentrate in a narrow discipline. Besides, if you plan on working in accounting/finance dept of Fortune 500, 80% of the stuff that you learn as a Finance major is useless. The rest (20%) that you learn in Corp Finance, you probably won't use it until you get to mid level position or work in Treasury. When you start out, all you do is boring accounting (accounts payable, journal entries, etc). You can't avoid it. Companies consider that as part of your training.