GE - Energy Financial Services: Any thoughts?

I assume this is under GE's energy business and NOT GE Capital. I work in another sector of GE, and generally anything with Financial Services in the name, tends to be more like customer service. I may be way wrong, but I can't see how this would be very similar to IBs.

Having GE on your resume does help though, especially if you are in GE Capital (massive arm of GE). Plenty of mid level people in GE Capital have no problem moving into a BB (I know a few who were hired as VPs).

Oh, and there is no way EFS would pay close to an associate (>150,000k). I would say your close to an analyst, and possibly lower. Bonus would be a fraction of an analyst bonus.

GE might be a profitable business, but pay scale is far less than an investment bank. (Immelt took home maybe $20 million all in I think, the rest of exec board took home far less (except the guy at GE capital))

You can still learn a lot at GE though, and no doubt do better in terms of salary down the road.

EFS is part of GE Commercial Finance. The group is very well respected in project financing and is very well respected in GE Capital (no longer GE Capital but one of the previous GE Capital Businesses).

Hours will be FAR less than in a bank.. and your pay will be FAR less than in a bank. Work experience is similar. PM me if you have any other questions.

Thanks for clearing that up BSD, ignore what I said specific haha.

You definetly get paid a lot less but the Financial Management Program is the number 1 leadership program for corporate finance. I did it as a summer internship and the people were extremely nice and the culture is very supportive. Definetly different than a bank. EFS is very laid back. I didnt work there but some of my intern friends did. A lot of people go from the FMP program onto PE or Hedge funds but if you wanna go into IB right away, I would recommend not doing FMP

Keep in mind though, GE FMP is NOT supportive of its people leaving GE, for PE, HF, or B-school. They expect to keep their FMPs as long as possible, i.e. as a lifer. Don't know of too many FMPs who have made the transition to PE.

Pay at FMP is much lower than IB, even with some cost of living stipends at different business units. I agree that FMP is a pretty good experience, but keep in mind that you spend 6 months at each rotation then move on. There are very different rotations among FMP (i.e. financial planning & analysis, tax, controllership, cash accounting, operations, M&A).

If I remember correctly, the starting salary for this year's class of FMP was 50K base, 1K sign-on, and possibility of a 0%-7% raise in base per 6 months depending on performance. No end of year bonus mentioned. You also get some living stipends, appr $500-$650 a month for the more expensive locations (NYC, CT, etc.) Heard somewhere FMPs interns got a larger sign on bonus this year.

having interned at GE capital I can second that...the company is incredibly risk averse (though that is to be expected from GE considering their size and stability). even as an intern with comparatvely little responsibility, i felt like small parts of me were dying when the higher ups passed on really interesting and profitable deals because they werent in our "box". as far as the bureaucratic nature...it's only slightly worse than most of the big banks or any other large companies so i wouldn't let that affect you so much (this was the feedback i got from former bankers now working at GE)

you can look at ~50k maybe a bit more or less coming out of college...so adjust that up (modestly probably) for whatever experience you have + your mba. no one there tries to kid you and tell you should work for them because of the compensation, though benefits are decent. but the group i worked with was known for taking on younger people who would work for a few years and then leverage the brand name experience to get better offers elsewhere. the name definitely carries some weight even if you take a salary hit while youre there

I'd appreciate it if anyone else has any input about GE EFS.

GE EFS is one of five sub-divisions of GE Capital, all of which are based out of Stamford, CT (They are recruiting at my school for an Analyst position with EFS this year). As far as pay goes, base salary is similiar to 1st year IB analysts, but the bonus is not even close (check out www.glassdoor.com). However, they are one of the biggest investors in the energy space, pledging roughly $4 billion in energy investments this year alone. The experience would be excellent and as you move up the pay gets better (as evidenced by an SVP on glassdoor.com who reported a 198,000 base and a 122,000 bonus).

Hope this helps!

Cons: Too much "green" energy focus.

Bonuses and raises have been suspended.

Pay is mediocre

Exit opps require tons of leg work

Pros: Great training

Easy hours- 9-6pm. Vacation days are required to be used.

Great facilities- gym, cafeteria, etc

GE name/network

If you bust your butt, you can get some solid PE energy pre-MBA exit opps

So if GE EFS Associate level pay is comparable to management consulting, the base (for post grad MBA)should be ~$110 - $125. Does that sound about right?

might be slightly less but definitely 100k+ for post-MBA associates

anyone have any more info? anything about the interview?

I have a buddy who just left GE CAS (still with GE though) who says this group is pretty bad ass. That doesn't mean you're going to be making banker money, but you don't go to GE to get rich. Check out their website as it has a lot of info on current projects, who they're teamed up with on various deals, etc.

I've heard they used to be very legit, but talked to somewhere who works there now, and GE has seriously scaled down this business... they are not what they once were.

does anyone have anything to add to what has already been said?? thanks

Exit ops are limited unless you come from a great school.

what about for leverage that experience into banking?

Not trying to restart the constant State School vs. Ivy fight on here...

But the kids I've seen do well out of GE are the Ivy types. The State Schools kids either stay at GE or move around to more middling exit ops.

Just seeing if anyone had some additional thoughts that are recent

Guys any idea on that salary levels of an AVP in GE EFS?

Say hello to Jack Donaghy for me.

Base similar to BB with lower bonus scale from what I've heard, although I left GE last year and the EFS data I have is older than that. Good place to start and advance your career. They move you around and you are already on the buy side.

Any insight regarding the full time recruiting process at the analyst level? How are the interviews?