Hi guys,
fldps have been discussed extensively here, which is hardly surprising given finance focus of this forum.
I am curious though, do many F500 have similar programs to nurture and groom future BU heads/General Managers/Country Managers/CEOs and COOs as opposed to CFOs and VPs of Finance, namely rotational / leadership development programs for General Management? If so, what are the most prominent programs, and do oil supermajors have any?
Thanks in advance for all your inputs.
FLDPs are as close as you're going to get. Finance fundamentals are essential to understanding a business. Operations LDPs might work, too. I'm pretty sure I cam across some post-MBA programs that are kinda like what you're talking about, but can't remember them.
This.
@Andrés, you will also find BU heads, "general managers" (this doesnt exist btw), country managers, and CEOs/COOs also tend to come from engineering backgrounds/LDPs. This is because they often have a better idea of how the product actually works and the technicals behind them. Often these people will be paired with a VP of finance or BU controller to run a businesses.
There is no set in stone program but I know that after you exit from a LDP you are basically fast tracked. For example at GE FMLP basically walk on water( second hand words), once they exit the program if they don't go to b-school they basically get their pick of where they want to go in terms of BU. Secondly, FLDP don't just become heads of finance divisions..they are able to go anywhere.
Google MBA general management rotation programs. There were a bunch last time I looked. These are different from FLDPs.
Really? I mean I knew FMP was a big deal but I didn't think it was quite the "you can do whatever the hell you want after" big deal.
Yeah my good friend who works there said that none FMPers don't like the FMPers because of how they treated by upper management.
Andre is right. These programs are usually post-mba. This is different from finance rotational programs, either pre or post mba. Sometimes somewhat hard to google unless you are going through a school website, as they are for MBA students and are not always on their general career site.
Something like this: http://careers.chevron.com/disciplines/index_of_disciplines/business_st…
At least at my company, I don't think bfin's comments are entirely correct, at least at a pre-mba level. Post-mba rotational program, maybe, but it would be an indirect/inefficient path to do the finance rotation program then try to exit that as a first level sales manager or something (BU heads are sales guys)
Just found what I was looking for (sorry, usually only look for post-UG programs). Here's a list of programs via Columbia's career center: http://www.careereducation.columbia.edu/resources/leadership-developmen…
Awesome. Thanks for sharing.
Really? I read that GE takes 300 FMP's just within the United States every year. That's a LOT of people. I'm not sure how 300 new people every year can be fast-tracked so well in a company. Sure, GE brings in 150B+ in Revenue, but there are only so many six-figure corp fin management gigs in a Conglomerate.
Sure, but you have to take into account that some people will do poorly, some won't perform (or network) well enough to go beyond the senior FA-level, some will jump to a different area of the company, and some will leave altogether. Also, fast-track doesn't necessarily mean CEO in 20 years, it gives you the opportunity to shave off a year or two from how long it normally takes to get your first promotion.
300 in the US isn't right - that number is too high. FMPs at GE can and do switch out of finance. In other companies the comment about sales is right. BU heads usually have experience with sales, or at least product management. Operations can also work.
Sales / operations leadership programs are more likely a better fit for general management than finance, but it depends on the company also.
McMaster Carr has a Management Training program that pays six figures, minimal hours:
http://www.amazon.com/gp/product/B0190S4VAM?keywords=%20McMaster-Carr%3…
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