Professionals wanting to branch into financial planning and analysis had better make sure their spreadsheet skills are up to snuff, because a recent study found that more than three-quarters of all job listings in this area require proficiency in Microsoft Excel.
The study, conducted by Excel solutions firm Datarails, involved analyzing 500 open FP&A positions in the U.S., at companies ranging from 1,700 to 1.5 million employees across a wide variety of sectors. The job listings examined were dated between February and June 2022 on job sites Indeed, LinkedIn and Glassdoor.
What they found was that 76% of these jobs list proficiency with Microsoft Excel as a requirement. This includes nine out of 10 of the largest U.S. companies based on market cap. Even then, while the only exception — Alphabet — did not specifically name Excel, it still demanded spreadsheet experience.
“When it comes to the vital work of budget, cash flows, and forecasting carried out by financial planning and analysis leaders in the biggest companies in the U.S., Excel still remains the canvas that finance teams rely on to create ideas and models," said Datarails co-founder and CEO Didi Gurfinkel in a statement. “The flexibility, familiarity and independence of Excel remains a core part of U.S. financial processes for all candidates. Though we have heard about the so-called death of Excel for a long time, it remains alive and kicking in the biggest companies in the world."
The study also found that 34% of FP&A positions require an MBA, while 15% require a candidate be a CPA.
