FLDP vs. Mid-Career position
I’m approaching senior year of undergrad and am debating between which step to take next – join FLDP at current company or skip FLDP and hire into full-time position at current company.
Background: The summer after my freshmen year I began my first internship as a financial analyst in a F50 – industrial/manufacturing sector. After the summer I started working part time (30-39hrs) during school and full time during breaks/summers. I’m currently on my fifth rotation/internship, which have mainly consisted of various roles in finance/business functions (Financial Operations, Accounting, Business Development, Program Management and Financial Analysis). During that time I’ve become tied into a lot of projects that have given me exposure to management and executives (something I hear is a selling point for FLDP’s).
I’m applying to our FLDP at the end of this summer for a full time position after I graduate next May. I’ve talked to managers and participants of the program and have received mixed suggestions. Some colleagues say it’s a good program because of the exposure, recognition and learning experience, while others say that with my background in the company, it wouldn’t really be that beneficial (most of the FLDP rotations are the same function as those I’ve interned in). If I go the non-FLDP route, I’m working on getting a position lined up somewhere between a FA and SFA role in our headquarters – somewhere within the treasury, investor relations or an FP&A type function (looking for something analysis heavy, will need to do more informational interviews and research).
Questions: Is the “FLDP” title worth it if I can get a full-time offer for an entry/mid-career position? I wouldn't expect internships to be as recognized as a formal FLDP, which could be disadvantageous if I choose to switch companies or career paths later on. I need to do more research but I’m also considering switching to private equity, but that’s probably another conversation.
Any suggestions or points to help me decide will be appreciated! Thanks in advance!
I'm interested in hearing other opinions on this.
Given that you've already rotated through 5 different positions at the company, I would go for one of the roles at HQ rather than doing the FLDP. I'm not sure what the structure of your program is but based of what you said I assume that you'd rotate through roles in various business units. It depends on how flexible the company is that you're going to but you could also sell them on letting you rotate roles every year to different roles at HQ, outside of their formal FLDP. Otherwise you could do the FLDP and try to get the company to place you into rotations at HQ.
As to whether having FLDP on your resume matters or not, I think it depends on what you want to do. It sounds like if you don't do the program you expect to be promoted early on (~2 yrs), so I think that if you're looking to lateral then having the progression early would help more than the FLDP. MBA programs may like the FLDP but if you progress early at a F50 then my guess would be that it would not make a difference.
I see both options working here, I would suggest that it's wise to still to FLDP.
Here is a non-FLDP scenario. Fast-forward three years: If you were looking for next steps (SFA promote, lateral, MBA, etc.) alongside others who completed your company's FLDP, you will look like an auto-ding since you are coming from said company without FLDP. It would "look" like you entered as non-FLDP because they didn't take you into the program, but gave you a position somewhere anyway. Everyone has a story, and you would certainly have one to back the decision up, but why risk getting dinged on a first-round resume drop without getting a chance to speak for yourself?
I personally don't see downside in doing FLDP. Would you be familiar with the groups you work in and potentially have a similar job? Yes, but FT vs. Intern is different, and with your familiarity you would be well set up to immediately add value and gain exposure to a Director/VP level. That takes a while for many people in a rotation, and the more that can happen, the more you would get to a rock star status in your class.
I am about to finish FLDP at my F50 (IBM/MSFT/GE). In the scope of 1st - 3rd year analysts here, FLDP gets >80% of the resources (training, executive speakers, access to management, project based work, etc.). If your program functions anything like mine did, a non FLDP FA will rotate slower, have second pick to FA roles designated for FLDP, and lose out on any training/benefits FLDP would provide.
In the scope of your company, probably not a long term disadvantage, but it would be a hurdle short term.
Keep us updated on what your thinking / deciding.
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