Big 4 vs FLDP....GO!

FLDP is being praised as the second best thing to banking/consulting on this website.
However...for those who want to be Fortune 500 finance sr.manager/directors (not in corpdev) in the future...what is the best path? Big 4 or FLDP?

Some people say Big 4 is better because most F500 managers have Big 4 experience....however when I look at FLDP people on linkedin, most people have moved up to Manager pretty quickly. (J&J, Microsoft)

Some people say both will get you there...but that's kind of vague and contradicts what pro-Big 4 people say...

What do you all think?

 

The correct answer is both. If you are hard working and intelligent, you SHOULD make Sr. Mgr by following either path. Director is more difficult, but definitely attainable through either path.

My recommendation leans slightly towards starting in Big 4, but they're pretty close. Do whichever you'd prefer to do.

twitter: @CorpFin_Guy
 

if your career goals are Big4/FDLP ----> MBA ---> something else (banking/PE), then i'd say FDLP. you will be a more unique applicant than Big 4 audit and will likely get into a better business school.

if your career goals are Big4/FDLP ----> Director of Finance, then I'd say go with Big 4. from personal experience, too many directors and controllers in my company are from Big 4 CPA backgrounds for it to be a coincidence.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?
 
AsianMonky:
Saynadarula,

Does your company have a solid FLDP-type program?

Also, how long did these managers/directors stay at Big 4 for? Would it have the same advantage later on if you left as senior associate, rather than manager?

my company... a very well known and respected fortune 1000 software firm, just started their FDLP program, which is in it's pilot stages. i'm really not the best person to ask about the career paths of our directors (all i know is that they started in Big 4), but i think that you can leverage a senior associate role at a Big 4 to a management role in industry. i'd check with some Big 4 types to confirm, though.

i should mention though (and this doesn't help my argument) that our current CFO started his career at IBM's FDLP program.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?
 

Part of the answer depends on which FLDP you're talking about. A Microsoft/IBM/J&J/GE FDLP is a world apart from an FLDP at #499. If we're comparing fldps at that level to Big 4, I would still give Big 4 an edge, but with the caveat that different people will have very different experiences. At Big 4, if you're really good and the circumstances are right, you can be dealing with top F500 financial executives (one level below CFO) on a regular basis before you even make senior associate. Also, Big 4 can give you more opportunities - not better necessarily, but more.

This really is a simple numbers decision. More people in top financial roles you're aiming for come from Big 4. If I'm reading it right, the reason the average WSO users put fldps at second place is that Big 4 labels you solidly as an accountant. An FLDP will put you closer to the finance side of things so that you don't have to jump the gap from accounting to finance when you leave Big 4.

To the question about leaving Big 4 as an associate or manager - it is unlikely that you will get a manager role coming from Big 4 as an associate. I've seen it happen with people who are almost a manager, but even they only end up with a mid-manager kind of position. Again, this question depends largely on where in the F500 spectrum we're dealing with. One of my friends did very well for himself by starting at a regional CPA firm, staying for 5 years, leaving as a senior associate to take a controller position at a smaller company (~40 million in revenue), then got promoted to VP Finance/CFO after a few months. The general rule of thumb is you definitely don't want to leave before 5 years unless it's to go for your MBA or another top-tier professional services job (consulting, banking, etc.) Most people will tell you a minimum of 7 years if your goal is top financial management.

 

i'm impartial to the big 4 route because that's the decision i made, but there are great FLDP options out there. the big 4 name on your resume does carry weight in the accounting world, and it will allow for more options down the road as compared to an FLDP. will you be less successful in your career if you skip the big 4 and go straight to industry? depending on the caliber of the company you start with, i really don't think so. in the end, it's going to come down to you, the person, and how much value you add. in the accounting and corporate finance world, the people who know the technical side of things, and also have the leadership and people skills are the ones who get ahead relative to their peers. it's not just what you have on your resume. i pretty much agree with everything that has been said so far. if you can get into a top FLDP, you will need to think long and hard about your long term goals to make a decision between the two. if you have aspirations of building a career in professional services, than starting in the big 4 and seeing that side of things is a must. if you somehow know you are going to be the type to spend 3-5 years in the big 4 and then jump to industry, you might want to safe yourself the trouble of dealing with the shittyness of being a staff/senior and go straight into industry. i think the most significant benefit of doing an FLDP is that you are instantly recognized within your company. i know this from several friends who went through big name programs. you will be promoted as quick as possible, relative to non program people, and you will be considered first for new projects and assignments. in the corporate world, this type of status is almost priceless.

i do disagree with a post above regarding staying a minimum of 5 years. this might have been true in the past, but the employment landscape is changing. what you are physically doing everyday as an auditor in the big 4 is completely different than an accountant/analyst in industry. companies are looking to fill management positions with people who have both public and industry experience. people who have experience with a monthly close, using the various information systems, etc. in my opinion, you should adjust that minimum to three years. after three years, then consider your options and see what you can land. i can tell you personally that i've applied cold to many prominent places (disney to name one) for senior level roles and have gotten same day call backs from recruiters.

 

Thanks a lot for the information. If you dont mind, what are some of the big name programs you mentioned in your post? I work for a prominent F100 industrial company, but it seems like graduates of FLDP here aren't getting that much attention regarding to top assignments/promotions.

Also..some people mentioned that in F500 corp fin, it's beneficial to "jump ship" between companies to get higher salary/position... So in that case...would Big 4 experience carry more weight than top FLDP when you're applying to ....manager position as a sr financial analyst?

Regards

 

The 5 year figure applies if your goal is upper financial management in industry, which is the most common path to the C suite. There are many companies that will only consider candidates with a certain amount of Big 4 experience (often 4-7 years for executive roles). While some companies will take F500 experience as a substitute, some won't. That should answer the question about jumping to other companies.

The bad thing about industry is that you can easily get stuck at one level if you jump ship to early (i.e. 1-4 years after Big 4). I know dozens of people who left Big 4 around year 2-4 and 20 years later they're still a senior financial analyst.

On the other hand, if you're not gunning for Controller/Finance Director, then you may want to consider other routes after 2-3 years at Big 4. There are many other ways to make it to the C suite.

 

What do you mean by "other routes after 2-3 years at Big 4"? I guess a top tier MBA can get you into a mba level FLDP at good companies; I can't think of any other "routes"

So...a lot of contradicting opinions on this matter... but the general consensus I think is.. - 2-3 yrs Big 4 experience carries similar weight as solid Fortune 100 FLDP. (Some might be better than Big 4, some might not) - Both options above won't guarantee you manager positions at F500. After that, it's all up to you to perform, network, and get promoted, since there's a possibility you can get stuck in sr fin analyst for very long time by taking either route.

  • It would however give you better chance to become a sr mgr/director at F500 if you can survive untill manager at Big 4.....

Am I getting it guys?

 

It really depends on the FDLP, since most will stick you in a BO type role in the company (controller, accounting, etc). MBBs will look at anyone, depending on the school you go to. Top 10 schools are guaranteed to have MBB recruiters. And top 10 schools do take a lot of Big 4/FDLP applicants.

 

I think the F50 rotational will have vastly better MBA prospects since valuation guys get bunched in as generic finance guys and go up against bankers and such whereas corp fin. is in it's own league.

 

biased here as I did a rotation program at a tech co and then moved in their corporate development team but I would say the rotation program will give you a better across all of the things you mentioned. Given you said F50 M&E co. I would assume it's Comcast so you could get some really interesting placements there, even in corpdev and strategy with a little networking and even could move into their VC arm.

 

It depends on the FLDP. I would put a good FLDP above Big 4 audit any day unless you really want to be a controller. But TAS v top FLDP? I think you'll find a 50/50 split on that opinion. TAS would lend to making the jump to IB w/o an MBA but you'll have to work really hard for that and have some luck as well. Good FLDP will most likely do better in MBA admissions all else equal. 

I think because your end goal is IB, TAS might make the most sense. Unless the FLDP offer is in the industry you'd like to cover in IB. However, if your end goal was to be in corporate, FLDP is the easy choice. The network you gain from a good FLDP is not to be understated. 

If the FLDP your considering isn't at a household name brand firm and is only "okay" versus "good", I'd lean towards TAS. 

More context would be helpful though, is the TAS role in a major metro or is it a tier 2 office?

 

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