Million-pound carrot waved at FDs
Finance directors now have a better chance of becoming a millionaire through work than entering a game show as unparalleled demand for their services soars.
Directorbank.com, the online database for venture capitalists seeking senior executives, has been experiencing unprecedented demand for high calibre finance directors. FDs are looking at highly attractive remuneration packages in return for greater responsibilities and risks.
To prove a point, Directorbank.com’s chief executive Jonathan Hick said: ‘I have one urgent FD vacancy on my desk with £2m equity on offer.’
Venture capitalists are looking to FDs with main board plc experience or who have been involved in an MBO or MBI to take businesses forward, as the new economy pans out and large buyout companies bloom.
Hick said: ‘We are basically looking at two kinds of situation: start-ups, where the risks are high but so are the rewards, and larger buyout companies, where the FD is required to help manage a highly-leveraged business with a three to five year exit plan.’
Sandy Wilkinson, a Directorbank candidate who has already become a millionaire at 34 as a result of his first MBO, said: ‘From a finance director’s perspective, a buyout is very exciting. Your own performance has to be spot on, you have to have a passion for your business and work extremely hard to make it all happen. But, when it does, you get the most incredible buzz – as well as all the personal benefits and rewards that come with it.’