By Megan Martin

If you see a job post for an accountant position and cringe as you picture yourself in a cramped back office, punching numbers into a calculator amid piles of paperwork for the next 20 years, you may be in for a pleasant surprise: The times have changed.

Corporate scandals, new laws and a booming industry have turned the finance and accounting world on its head, meanwhile creating countless new opportunities for financial professionals—many of which involve much more than being “the numbers guy.”

The New Path to CEO

“Historically accountants were viewed as bookkeepers, not as the people who would lead and guide businesses,” says SALO co-founder John Folkestad. “In the past, I knew many financial professionals who wanted to be president of their corporation someday, and people would laugh because those roles were reserved for people coming from operations or sales. All that has changed. Since Sarbanes-Oxley, you see more and more financial people becoming CEOs.”

You may be thinking, don’t I have to be at a company for half my life before I’m even qualified for a C-level role? Not necessarily. Previously, job security and upward mobility within a firm depended on employee loyalty and tenure, regardless of the value that employee contributed. One of the biggest changes that has occurred in the last decade is a shift in employer values. Today, rather than rewarding or promoting longtime employees simply because of their tenure, companies have evolved to focus more on locating and keeping diverse talent, which is great news for consultants.

What it Means for Consultants

So if companies aren’t necessarily looking to promote longtime employees, what are they looking for?

As companies recognize that they must keep up with the times, and new responsibilities, they’re realizing that young employees with fresh ideas and experience can add value that employees who have been at the same position for years often cannot. New and diverse talent promotes change and innovation, so many companies are turning to consultants with knowledge of cutting-edge technology and a range of experiences in the industry, to help during times of change.

With extensive new responsibilities being put upon CFOs, companies need the support of new talent from a wide variety of backgrounds. Folkestad says this leaves consultants in an ideal position:

“In a short time, you can get experience in a myriad of industries and financial systems,” he says. “In one scenario, you might be sent to England to help with an acquisition. In another, you might be helping as a project manager while a company undergoes a major change. Generally, consultants are brought in during times of change, and most people are motivated by that. Plus, it allows you to gain tons of skills and experience. You’re always learning something new.”

Whether you’re looking to become a CFO or just get the experience of working under one, here’s what companies are looking for from accounting and finance professionals:

• People skills—A recent survey reports that CFOs are looking for non-traditional skills, especially strong soft skills, such as communication and interpersonal abilities—53 percent of CFOs said they would be willing to hire a candidate with strong soft skills over someone with more technical skills.
  
  
• Information Technology—one of the biggest challenges for CFOs, according to the cfo.com article “Who Needs a COO?” is keeping abreast of changes in technology, and also making sure their company’s IT solutions are cost-effective. Consultants often have this knowledge from being out in the field and using technology at a variety of different companies.
  
  
• Well-roundedness—“As of right now, tenure is clearly less important,” says Folkestad. “It’s about what can you do. If you’ve got a sales personality and a finance background you’re a lot more versatile,” says Folkestad. “Employers are asking, ‘What can you do for me today’? If you can do what someone needs today, you’re golden.”
  
  
• International experience—as Folkestad notes, this is important. Companies are doing an ever-increasing amount of business outside of the US, and are looking for future finance leaders who have experience working abroad.

Always Learning Something New

For consultants, this means being open to new experiences in order to expand your horizons. If you imagine yourself in an upper-level position at a company someday, think about how you can translate your everyday experience into the values and skills firms are looking for. If you’re mostly a numbers person, take a position that will challenge your communication skills. If technology is your weak point, seek out opportunities to learn new technology and skills—even if they seem foreign, or even frightening, to you. If you get a chance to travel abroad, take it. In a nutshell, be open to what different positions offer, and be willing to try new things.

“The finance and accounting world is going more and more toward this position flexibility, high contact model. Companies are looking for people who are process-oriented, like driving change and will be able to help the company go from point A to point B,” says Folkestad. “For high-performing people, that’s great news.”