FINANCE

ROLES IN F1

According to a recent article from Forbes, the teams in Formula 1 have a combined worth of over three billion pounds. The finance department of a Formula 1 team has a wide range of responsibility, and is vital to the successful and profitable running of the business.

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INTRO

If you’re thinking of working in the Finance department of a Formula 1 team, there are a few things to consider, and you need to make sure that a career in F1 Finance matches your interests and skills.  Hopefully the following information will help you when it comes to deciding on the right career path for you. Disclaimer – the information below is not intended to be a replacement for professional careers advice.

TRAITS

  • Somebody working in the finance department will typically be drawn to the subject of maths and maybe IT too, and have a general passion for these areas.
  • You are likely to have an interest in problem solving.
  • You are likely to have good organisational skills, have superb attention to detail and thrive on working to the highest standard.
  • You thrive on pressure and don’t mind working long hours.
  • You are also competitive, and want to be the best you can be.
  • You are trustworthy and dependable.  A team player, but can also work equally well on your own.

TYPICAL ROLES

There are a variety of roles available within the Aerodynamics department of a Formula 1 team.  These might include:

  • Financial  Planning and Analysis Manager This type of role will typically involve business forecasting, and creating strategies for future improvement.
  • Financial Accountant This is typically a varied role across the finance department, and may involve things like tax matters, reporting, and internal/external audits.

WHAT TO STUDY

Typically to work in Finance for a Formula 1 team, you will have a keen interest and a natural talent for maths and probably also IT.  Listed below are some study paths you could consider.  However please make sure you also speak with your school/college/University careers advisor who will be able to provide help and support to you during this important time.


GCSE’s:

Maths
English
IT
Economics
Further Maths
Languages


A Levels:

Maths
English (Language/Literature)
Business Studies
Law
Further Maths
Economics
Languages


If you intend to go to University, please check with the admissions department of your preferred University to ensure that the A Level subjects you choose are acceptable for the course you wish to take, before you choose which A Levels you’d like to do. 

Further information on choosing the right A Levels for your future aspirations can be found here: https://www.russellgroup.ac.uk/for-students/school-and-college-in-the-uk/subject-choices-at-school-and-college/

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