Public Finance Management career as an option - How is this space and daily work, interview questions typically and other aspects related to work like travel,exposure etc

Hi there,

Public Financial Management (PFM) as a career:

• Nature of work: Advising governments on how they plan, allocate, spend, and account for funds — covering budgeting, fiscal policy, expenditure tracking, debt, and transparency. Employers include Ministries of Finance, Big 4 gov advisory teams, and multilaterals (World Bank, IMF, UNDP).
• Daily work: Reviewing budget systems, advising on fiscal rules/deficits, implementing IT systems (e.g. IFMIS), capacity building, drafting fiscal reports/policies.
• Interview questions:
  • Walk me through the budget cycle.
  • Common issues in expenditure management?
  • Cash vs accrual accounting in the public sector?
  • How to close a persistent budget deficit?
  • How to improve transparency/accountability?
• Other aspects:
  • Travel: Frequent in multilateral/donor roles, moderate in Big 4, low in government.
  • Exposure: Senior policymakers, donor agencies, international organizations.
  • Lifestyle: More predictable than private consulting, though intense around budget deadlines.
  • Compensation: Lower than private strategy, but competitive in multilaterals and Big 4 advisory.
  • Future exits: Policy roles, multilaterals, senior gov advisory, think tanks.

In short: PFM is technical and slower-paced but impactful, best for those interested in finance + public policy with strong exposure to governments and multilaterals, though with lower pay and fewer corporate exit routes compared to private strategy.

Best,

Evelina

Hey there :)

PFM careers are usually with Big 4 or multilaterals, focusing on budgets, fiscal reforms, expenditure reviews, and treasury systems. Daily work is a mix of analysis (budget processes, financial models), system design, and advising ministries. Compared to private strategy, pace can be slower but impact is big since you shape how governments spend money.

Travel is often project-based, especially in developing regions, sometimes long-term onsite with ministries. Exposure is good if you want to build expertise in public sector finance, less so if you want to pivot to corporate strategy.

Interview questions are often technical and case-based: “How would you redesign a country’s budget cycle?” or “What controls reduce misuse of public funds?” They also test stakeholder management, since you work with senior civil servants.

best,
Alessa :)