This episode of Career Goals features the Head of Finance at ITV Studios, Kimberley Halliday.
Kim studied her CIMA qualification with us at Kaplan and kickstarted her career as a finance analyst at ITV before moving up the ranks as she progressed in her career.
The dramatic pairing between the TV and finance industry is celebrated as Kim reveals the realities of what goes on behind the scenes of the world we see on our TV screens.
Key topics discussed
Working as the Head of Finance at ITV Studios
Kelsey asks Kim to talk through her journey from leaving high school to starting her finance career at ITV. The discussion reveals how Kim worked her way up, and how she found herself in this particular role. Kelsey also asks whether working in the television industry is as glamorous as it seems.
Word association
Kelsey reads out a series of words where Kim shares the first word that comes to mind. Some words include ‘TV,’ ‘budget,’ ‘tax,’ and ‘study.’
Studying CIMA
The word association game leads on to a conversation about Kim’s experience when studying for her CIMA qualification at Kaplan. She candidly talks about how she struggled to manage her time while studying, particularly when it came to the exams.
Kim had also associated the word ‘tax’ with ‘boring’ during the word association game. We discover how Kim works with tax in her role, and whether it is necessary for her at all. This conversation also leads to the topic of other finance roles that are involved in the makings of a great TV show.
Behind the BTS of TV
We all want to know what happens behind the scenes of our favourite TV shows - but when we think of ‘behind the scenes,’ what comes to mind is usually the scripts, stunts, and even sometimes scandals. However, Kim works even further behind the scenes and is involved with the finances and budgets that are required to make each scene come to life.
The discussion brings forth topics such as whether working as the Head of Finance at ITV has made it less enjoyable for Kim to watch TV. She also talks about the fun side of working in finance, particularly in this industry, as she and her colleagues will often plan the ‘guessing game’ of how much a scene would have cost when watching other TV programmes.
Working in a finance role within the TV industry isn’t all about the numbers. Kim also shares some stories about times that she’s stepped in front of the cameras to act as an extra in TV programmes.
Dream commute
Kim shares with us her dream commute in a world with no limits. She talks about how work would ideally feature hot weather, and boat would be her preferred mode of transport, with no one other than Beyonce or Diana Ross - a great choice either way!
Travelling for work
And what more could make Kim’s job more exciting? She gets to travel often for work!
Kim explains how her workplace considers the financial benefits that filming scenes internationally can offer to a TV programme, which gives her the opportunity to work in various locations.
Kelsey asks Kim to share any differences between working overseas compared to the UK in terms of finance in the TV industry. Kim tells us how the systems and teams will often work slightly differently abroad and, due to corporate governance at ITV, she has to oversee the process to make sure they're inline with ITV’s way of working.
Kim also shares the most interesting part of her job, which she believes is seeing the creative process behind the numbers.
“Its the creative process that you get to be a part of that you don't normally see.”
Myths about working in finance
In the conversation, Kim addresses common misconceptions about careers in finance, such as the idea that finance is solely about ‘number-crunching’ or that a career in finance is limited to accounting.
She sheds light on the diverse roles within a TV finance department, highlighting positions such as production accountants and financial controllers. Kim also expresses how even line producers will benefit from a finance background, as managing budgets is a key part of their daily responsibilities.
How to get into a finance role in TV
Kim shares valuable advice on how to break into a finance role within the TV industry. She suggests regularly checking the career sections of major TV channels’ websites, as they frequently list job openings. Additionally, Kim recommends considering independent production companies, where smaller finance departments can offer great opportunities to build foundational knowledge and experience.
She also highlights useful resources, such as The Production Guild and Creative Screen Skills, both of which offer specialised training for aspiring production accountants.
Challenges when working in TV
Kelsey asks Kim how she manages challenges like going over budget on a production. Kim explains that budgets can quickly become inaccurate, especially when productions are planned years in advance. Factors such as inflation and fluctuating costs can significantly impact initial budget estimates.
The topic also moves onto Kim’s experience with ‘divas’ who work in television. She explains that her approach to handling high-maintenance personalities begins with aiming to address any extravagant requests early on in the process, incorporating them into the initial deal to avoid surprises later on.
Desirable dinner party
Kelsey asks Kim to choose which guests she would like to have at a dinner party, Kim says actor Stephen Graham - who ITV have had on many of their popular shows, but Kim says she's never had the chance to meet him. Kim adds another actor to the list, with Denzel Washington.
On the topic of famous faces, Kim isn’t new to bumping into celebrities and well-known personalities at work. However, she shares an anecdote about the time she felt the most star struck when meeting Justin Timberlake while having to remain professional.
Trends and changes in the industry
The discussion moves onto changes and challenges in the industry. Examples of challenges discussed include the Coronavirus pandemic, new competition and rivals who join the industry, and the more recent actors and writers strike which will continue to have an impact on film and TV.
Kelsey and Kim also talk about the shifts in viewing habits, noting that TV is now so accessible that people can watch their favourite shows whenever they want. This means that revenue streams have also shifted due to the rise in popularity for on-demand streaming services and the decline in traditional TV viewership.
A day in the life of the Head of Finance at ITV Studios
Kim describes the dynamic nature of her work, noting that no two days are the same. The summer months are particularly busy due to the longer and lighter days, and her typical day in summer involves walking her dog, attending meetings, checking in with her production accountants, discussing ideas with label heads, and planning future budgets and commissions.
Why study CIMA
Kelsey asks Kim to explain why she opted to study with CIMA qualification over other options like ACCA. Kim says that she views CIMA qualifications to focus more on strategy and businesses, whereas ACCA is beneficial for group finance.
Advice on getting into TV and finance
Reflecting on her career journey so far, Kim shares that she didn’t attend university or earn a degree. She emphasises that it’s entirely possible to pursue a career in accounting and finance without following a traditional path, and that alternative routes such as apprenticeship programmes or professional qualifications provide many opportunities.
““You don't always need to leave school and go to college and go to university to get a degree because I didn't, but I've still got a very successful finance career.”
What are ‘career goals’ to you?
Kelsey asks Kim the closing question: what does ‘career goals’ mean to you?
Feeling inspired?
Working in finance can be as creative and fun as you make it. If you’re feeling inspired by Kimberly Halliday’s career journey, browse our current accounting and tax courses and start your studies today.
Alternatively, if you want to study the same qualification as Kim did, find out more about CIMA’s CGMA Professional Qualification.