Professional Development for the Modern CFO and Emerging CFO - Part 2

Here is part 2 of our blog on CFO Professional Development programs offered at top Universities and private organizations. In part 1, we introduced the rationale for why these programs are useful as career development tools for CFO's and emerging CFO's.

In this blog we will discuss points to consider before choosing a professional development program. We also will go deeper and examine each program in greater detail.

Here are some the top considerations to make before you choose to enroll in a professional development program:

1.     Time commitment – The length of programs varies from 1 week to 12 months. Almost all of them require some classroom time ranging from 1 week to several weeks. That means you have to ensure the time to attend the program online, complete assignments and be on-site for classroom training. This requires the candidate to either have paid time off OR have their employer be completely on board to support them through this process. The latter obviously is the best and most preferred route, but many motivated candidates take the initiative on themselves to make it work if their employers are not sponsoring.

2.     Cost – These programs are not cheap. They range from 12k to 30k. Add to that the cost of travel and missed work. So, every candidate has to analyze the value of professional development to their career progression. The best way to get around this to work with your employer and have them pick up the tab. Many employers will be willing to sponsor their top finance leaders for well-deserved professional development programs. Some companies have structured, and prescribed processes that layout how and who they sponsor while others are not structured but depending on the candidate, companies may choose to sponsor upon request.

While this may not be an option for everybody, if you have an employer that is willing to invest even partially behind your development, that benefit must be availed.

3.     Location – All of the programs are US based except for the one with London Business School. Some candidates might prefer to take their courses at a West Coast university like Stanford while others might lean towards the many options available on the east coast including programs at Harvard Business School, Wharton or Duke etc.

4.     Brand – While no one quite talks about this, many candidates choose programs based on their brand strength. Brands carry much weight. Good news is that many top universities offer CFO professional development programs. These include best in breed universities like Stanford, Harvard, Upenn, Columbia etc. Understandably the brand is a consideration and candidates must choose the program that will sit best with their career goals.

5.     Specialized Skills and focus – Not every program on the block is offered by a large university. Some private organizations also offer world class CFO programs. These include programs at Deloitte as well as more focused programs from organizations like the McCracken institute or the PE-excelerte program which focuses on developing CFO’s for the private equity space.

Next we will examine each program in greater detail to offer you the information that might help make it the best choice for you in terms of your goals. The program order is random and does not reflect any 'rankings' on our behalf or otherwise.

1) Harvard Business School (HBS) - "Succeeding as a Strategic CFO"

• Duration: 1 week

• Best Suited for: CFO’s and Emerging CFO’s

• Cost: $12,000

• Format: In-person

Focuses on strategic financial decision-making, leadership capabilities, communication, and driving organizational change through a case-based approach.

Emphasis on frameworks for value-based management, becoming a strategic partner to the CFO. Strengthening leadership capabilities and skills to energize the finance team, grow into an effective communicator and strong advocate for actions that create value.

2) Stanford Graduate School of Business (GSB) - "The Emerging CFO: Strategic Financial Leadership Program"

• Duration: 3 months

• Best Suited for: CFO’s and Emerging CFO’s

• Cost: $29,000

• Format: In-person. 2 one-week modules from Monday to Friday, 8 am to 5 pm.

  
  

Blends financial expertise with strategic thinking and leadership skills, including negotiation and conflict management. Focus on emerging trends and methodologies, make better strategic financial decisions, and build key partnerships in a comprehensive program. Emphasis on strategic skills in the context of financial leadership, transition from information provider to strategic partner, improvement in negotiation skills, conflict management and techniques to drive innovation and lead change.

3) Wharton Executive Education - "The CFO: Becoming a Strategic Partner"

• Duration: 1 week

• Best Suited for: For “in-seat” CFOs

• Cost: $15,000

  
  

Emphasizes strategic leadership, decision making, effective communication with stakeholders, and managing organizational dynamics, often with a global mindset. Courses are taught by world class faculty at the Wharton Business School.

This executive education program elevates the CFO role to one of a “value integrator,” a term coined by IBM in its Global CEO Study to describe the best-performing CFOs. Program creates a live lab where seasoned CFO, learn in peer settings from real-life case examples and apply frameworks to different situations that go beyond the profit and loss statement — enabling them to drive strategic investments for the future.

4) Columbia Business School Executive Education - "Chief Financial Officer Program"

• Duration: 9 – 12 months

• Cost: $30,000

• Best Suited for: Emerging CFO’s looking to take the next step in their finance careers and enter the C-suite in due course of time.

• Format: Multimodal (Online + In person)

Via a multimodal learning journey of 9 to 12 months, this program aims to develop financial leaders by focusing on strategic financial management, risk management, leadership, and effective stakeholder communication, often including a capstone project. At the end of this program, participants will emerge equipped with the skills, tools, and frameworks needed to lead financial transformation and handle increasingly complex challenges being faced by their organizations.

5) Duke Fuqua School of Business - "Chief Financial Officer Program"

• Duration: 8 months

• Best Suited for: Emerging CFOs & Sitting CFO’s

• Format: Multi-modular and Blended (Live Online + Classroom Sessions)

• Cost: N/A

Focus on strategic risk management, financial decision making, role of new technologies like Crypto, Fintech, AI/ML, Blueprint for M&A implementation, Nature of private capital markets and skills to raise financing, communication, and negotiation skills among others.

6) Chicago Booth - "The Executive Program for Prospective CFOs"

• Duration: 10 months

• Best Suited For: CFO’s and emerging CFO’s

• Cost: $28,000

• Format: Blended Online + Classroom experience

While it has "Prospective" in the name, it's also highly valuable for current CFOs seeking to deepen their interdisciplinary understanding of economics, finance, accounting, strategy, and leadership. The program emphasizes excellence in traditional CFO domains (Foundational Domains) such as accounting, finance and treasury while mastering strategic responsibilities expected of modern finance leaders. Emphasizes the Chicago Booth approach to business, which is a data driven, strategic perspective that blends rigorous academics with real world applications.

7) London Business School (LBS) - "The Chief Financial Officer Program"

• Duration: 7 months

• Best Suited for: CFO’s and Emerging CFO’s

• Format: Blended online and classroom

• Cost: GBP 24,000

  
  

Helps CFOs build skills in communicating financial acumen, collaborating across functions, balancing performance objectives with business strategy, and leading high-performing teams. The program labels itself as a transformative learning journey designed to broaden perspectives and prepare participants to become Strategic CFO’s.

8) Deloitte Financial Leadership Program

• Duration: Varies from single day program to more spread-out durations

• Best Suited for: CFO’s and Emerging CFOs

• Format: Blended Classroom and virtual/online

• Cost: TBD

  
  

The Finance Leadership Program (FLP) is a customized program designed to help finance executives advance their leadership, communication, and decision-making skills. This program delivers insights and guidance that helps CFOs and finance leaders take their organizations–and their careers–to the next level. Offers CFO training and networking Participants hear directly from local CFOs, board directors, and leaders, with subject-matter specialists sharing insights on M&A, talent, technology, tax, and other topics relevant to today’s CFO. The format ranges from a concentrated single day to multiple sessions spread out over the course of a year.

9) McCracken Alliance: The CFO Leadership Program

• Duration: 9 months

• Best Suited for: “Sitting’ CFOs and Emerging CFO’s

• Format: Blended online and in-person. The program requires a 2 day in-person immersion.

The CFO Leadership program aims to expand the horizons of CFO’s and emerging CFOs across a 9-month program. The program is designed to cover the “10 Pillars of Finance framework” in detail exploring the primary areas of responsibility inherent in the office of the CFO and modern ways a CFO operates within each pillar. The program will also help professionals identify their leadership style, gain self-insight tools and create a development path to become a more effective leader. Participants will perform a gap analysis on their technical competencies, honing current skills and identifying new ones for broader capabilities.

10) PE-excelerate: PE CFO Accelerator

• Duration: Self-paced

• Best Suited for: Private Equity CFO’s or Emerging CFO’s

• Format: Online

• Cost: TBD

Conducted by PE-excelerate. Specialized program focused on developing and molding CFO talent for private equity backed companies. Caters to the unique nature of a PE CFO who balances operational and strategic skills, relationship with the CEO and a relationship with the Private Equity Sponsor or Sponsors. The PE CEO operates under a time window and a clear mission to build value and prepare the company for an exit.