job description

I am the Chief Financial Officer (CFO) of IHOP Corp., the parent company of the International House of Pancakes and Appleby's Neighborhood Grill and Bar.

There are quite a few things that a Chief Financial Officer does. The CFO works with the CEO (the Chief Executive Officer) to manage the financial performance of the company. Also, the CFO strives to increase profitability. I also am responsible for raising capital, which basically is the funding for the company. I do whatever we need in order to raise the cash needed to invest in the growth of the business. I am also responsible for most of the accounting that goes on within the company. Finally, I have the first connection to the investors in our stock. Because we are a publicly traded company, which means that anyone can buy our stock. I have the responsibility of talking to our investors about the performance of the company.

I'd say that the most difficult part of my job is the politics of working in a big company. The agendas of different individuals may not be consistent with my agenda or the agenda of the company. Getting the ball rolling in the same direction is just really difficult sometimes.

Businesses, on the whole, want to grow. Growth creates movement and expansion, and the demand for people to keep up with that constant need to move and expand really dictates the environment of my job. Businesses are constantly looking to get the most out of their available resources, so employees are constantly evaluated on how they contribute to that need for efficiency. Businesses aren't really looking to create steady jobs. My career functions on constant growth, not stagnation. One of the levers that people use to measure the success of a business is whether that business is smart enough to cut costs when growth or efficiency isn't at an optimal point. It's a new measure that's being taken to really increase profitability when not enough income is being generated.

education & career path

That's a good question. My background is actually in finance, not business, which is typical of most people in similar positions. I graduated from New York University with an MBA (Masters of Business Administration) degree in Finance, and then started my first job as a financial analyst with a major beverage corporation that has a reputation of being a great place to work. My background is truly one in accounting and finance, but one thing led to another, and I ended up on the career path to become a CFO of a publicly-traded company. I held my first job as a CFO for a small Los Angeles company many years ago. I also worked for a massive entertainment corporation for ten years in the same position. I then moved on to become CFO of IHOP Corp.

I think the desire to make a really good living is what drew me to it, mainly. I really had my family in mind.

No, far from it. I originally thought I was going to be a politician or a lawyer. But one thing led to another, and I ended up in the business world. I originally lived in Connecticut. My wife and I just had our eldest daughter. I was faced with the decision of whether or not to pursue a career in politics, as I had always wanted, or to follow the business path. After talking to my wife, we decided what was best for our whole family was for me to pursue a well-earning career in business.

my day

It's a mixed bag, really. It really depends on what's happening with the business. So I would say, in normal terms, that I travel about 25-30% of the time. I typically work around fifty hours a week. The challenges differ day to day. They can be related to anything from the people I work with, to corporate strategy, to the financial aspect of the business. Recently, our company bought another big restaurant chain. As a result, I have spent the last 8-9 months traveling about 80% of the time. I spent a lot of time in New York City to raise money and complete transactions. I flew out to Kansas City often, because that's where the chain we acquired is headquartered. I had to work to make that chain comfortable with the way IHOP Corp. does business.

As I said before, it really is a mixed bag. It depends on the immediate need of the business in that moment. I do, however, partake in a lot of personal interaction with investors and colleagues, be that on the phone, traveling to meet them, or meeting with them in the office. Business is a very pragmatic discipline, so I really do it all. I don't have an average day, really. There's a lot of variety in what I do because of the very nature of my profession. I constantly need to grow or expand. But the main gist of my job is communication, strategizing, and making sure that the numbers are right. There is a political aspect to this business, with the differing agendas of all the different people I work with. Really, I don't have a typical day. It's certainly not boring cubicle work.

Yes, all the time. I have financial analysts, usually younger business people that work under me.

salary & lifestyle

I think it differs with the functionality between companies, but it's around $40,000 to $45,000 a year. But if you have a master's degree, it can be double that amount.

It's probably the biggest struggle. When I speak to students, I caution them. Most people think that in order to be successful in business, you need a great deal of professional commitment when you are first starting out and beginning to gain momentum in your career. Frankly, there are only twenty-four hours in a day. You have to learn how to balance. One of the most challenging things in my own life was finding how to fit everything together. I spent a good amount of time trying to figure out how I can be a good dad, a good husband, and a committed professional all at the same time. Balancing your priorities really is not easy, and it should be a factor that anyone considering any career path should consider and recognize as an important facet of life. How does work fit into your personal objectives and priorities? It's a real question. For me, I made the personal decision to choose family ahead of work. Sometimes, it may have slowed my career down, but for the most part, it really did not. I am pretty happy with where I am right now, and appreciate the balance that I have.

I work around fifty hours a week. It's really about your priorities. You can choose to work more or less, but I really choose to put my family first.

pros, cons & trends

I think the most enjoyable part of my job is essentially dealing with people. Sometimes, it can be the most frustrating part, but for the most part, it's the most enjoyable. Specifically, meeting people and communicating with the different investors in order to develop strategies for the company is what I enjoy the most.

As I stressed before, business is changing constantly. However, CFOs are now expected to be generalists, which is a newer trend. They are expected to be academically fit in the area of finance, which is the functional part of the job. But because today's financial markets are evolving so rapidly, finance people need to stay apprised of the latest technologies in order to gain more capital. Investors have become so much more demanding. Over the last five years, investors have really started to demand more influence over the corporation. They have increasingly become much more aggressive towards any management that does not pay attention to the individual investor. There have been quite a few changes in my field, but really, it seems to me that things are changing all the time in the world of business. That's one clear distinction that defines business, and those looking for careers in this field need to be cognizant of the fact that they will have to develop a certain comfort level with constant change.

advice

I'd say two things. First, I wish I had known the key to balancing between the personal and the professional parts of my life and career. I really discovered the balance along the way, but it would have been great if I knew how hard it could be from the beginning. Also, I wish I had known that business is really about building relationships with people. The political dimension of business is pretty obvious in everyday actions and decisions. In order to really have a successful business, you need to build a great network of support. That support system is really one of the most important factors in having a successful business. It's also really important to have a mentor to guide you through career decisions that you may not have had experience in before. Mentorship really is important in building a good career.

For business careers in general, a really high-energy kind of personality is essential. Also, the person needs to be book-smart, but also people-smart or street-smart as well. A hard worker is also well suited to this career. It's really quite competitive. Finally, a businessperson really needs to know how to build good relationships with others. A person with those characteristics will probably be really successful in this kind of career.

I look at the candidate's commitment to their career. I also examine their level of intelligence, their work experience, and their ability to work well with others. They also need good communication skills.

Well, there are two paths you could take. Beginning in accounting is best, really. Accounting is the language of business. If you understand accounting, you understand business. Institutions that don't take accounting seriously don't truly understand how businesses function and operate. You could also start right away as a financial analyst in a company that has a reputation for training younger professionals well. Different companies have different emphases and procedures with training, so it's really important to look for companies that do a really good job with newer employees. Training and development is invaluable.

I'd say it's to build great working relationships with people. The rest of the stuff came easy to me; I was a hard worker, I was smart. But when I was younger, I thought that getting the right answer was the most important thing. Getting the right answer is important, but doing so in a manner that will facilitate building relationships is essential.

Business is so present in today's media world that it's easy to learn more. Watching channels like CNBC is a great way to learn more. There are so many associations that involve business in the local community. Anywhere you look, there's a business activity going on, whether it's a local retail outlet or whatever. There are groups that raise money everywhere. Getting an MBA isn't the only way to learn more about business. If someone wants an advanced degree in business, they should work first. That work experience is really important for business school. Business, unlike intellectual fields like law, really relies on pragmatic experience. It's a practical way of growing before business school.