GE FMP to Consulting
Lets say I am in GE's FMP program and complete 1 year. Is it realistic to go over to mgmt consulting after this, even if it means entering as a 1yr analyst?
The work I am doing is mind numbing and it is not challenging at all. If I am going to put in crazy hours, I rather be working on something challenging and possibly be getting a bonus for it.
I am from a top 25 public school, and consulting firms do not recruit there even with it being so close to NY and BOS. So I went the GE path.
Also, double major in engineering/business with a 3.7. Any comments? Recommended firms in the northeast?
GE has one of the best training programs. I would say that the exit opportunities are excellent.
uconn
GE's FMP program is prestigious, alot of senior GE execs went through and onto Corporate Audit Staff (CAS). You can do that and try and be an executive (Bob Nardelli, Jim McNerney, Jeff Immelt)or you can finish those two years and get into a top 5 MBA program to get into consulting. I think there's a lot of value in finishing the program. It is hard to lateral unless you know people in places or can network your way.
I agree with alot of the above statements, FMP is generally well regarded in corporate circles. However, FMP is a heavy corporate finance and GE-culture oriented program, so be prepared to look for the most relevant rotations (ie FP&A over cash accounting) etc. Since you are only doing 6 month rotations, a lot of FMP work is project-based, though a significant period of time is spent supporting the day-to-day operations. Hours at FMP are not bad by any means, never really seen people work over 50 hours other than during earnings seasons.
Exit ops from FMP after the two years are primarily in GE, though it is possible to lateral to other fields IF you have connections. MM IB is possible, heard of it happening. Keep in mind GE is not b-school friendly, so keep MBA aspirations on the downlow if you are in FMP.
FMP straight to M/B/B is not very likely, you don't really fit in with any of the hiring points (too experienced for analyst, not experienced enough for associate.)
Your best bet is probably to finish FMP, do a rotation with a different business unit off-program or work another year or two in another company/function, then apply for b-school and transition to M/B/B from there.
I definitely do not want to go the GE-lifer route. There is just too much brain washing and falling into line with what the higher ups think.
I have thought about switching functions after the 2 yrs, but its going to be a highly depressive struggle to get through the next year.
Do you think it looks much worse to have only 1 year on the resume rather than two years?
i applied to the fmp program, was pretty excited about the opportunity at the time. Didnt get the offer, but was worried about the same thing. IT doesnt seem ike they encoruage going back to get an MBA. Still I think it would have been interesting.
You really aren't enjoiyng it?
Two years go by faster than you think, especially when you rotate every 6 months. Think about, it's literally half as long as college and each rotation is a bit longer than a semester.
I don't think 1 or 2 years really makes a significant difference if you have a reasonable move afterwards.
I work with FMPs a lot. While I don't personally find the work very exciting/challenging, I think if you can get out after your two years, there a lot of GE alum people that are willing to help if you reach out to them.
I know what you mean about the GE lifers though, both of my bosses have been there for 20+ years, can you fucking imagine being there since age 21. I'd go crazy.
Does anyone know how the FMP program places for top b-schools?
I graduated from FMP with the Plastics business two years ago and went straight to Corporate Audit Staff...CAS is tough, not for the work, but for the lifestyle (3 am, demanding, no respect as an associate, etc.) I only stuck with it for a year and then left for MM IB, directly into an Associate role, which was fairly easy to get with the GE experience. I actually got solid interviews with most of the BB, MM, and top tier consulting firms with GE on the resume - Deloitte, especially, LOVES GE (ex-GE are "fast tracked" there, and anyone internally who recruits a GE FMP gets twice the referral bonus as any other recruit).
I'd suggest that you stick with it - and try to get as much FP&A experience as you can - it puts you leaps and bounds above anyone else you start with at a new job because you actually KNOW the financials because you have constructed and analyzed them, unlike straight IB'ers, who know the motions but may not understand all of the dynamics just because they haven't been exposed to them.
Email if you'd like to chat about your options - happy to help as I can.
See next post.
x
GE FMP vs tier 2 consulting (Originally Posted: 08/26/2013)
Hi everyone,
Long time reader, first time poster. First of all, just want to say thank you to everyone who gives great advice here.
I am in a bit of a dilemma. I am a rising senior at a target ivy (Columbia/Brown/Upenn) and spent my junior summer at a tier 2 consulting firm (OW/L.E.K./Deloitte S&O). I had a solid experience and was fortunate enough to receive an offer to return.
I spent my sophomore summer interning for GE's FMP program and received an offer to return for my junior summer. Although I enjoyed my experience, I wanted to try something new and respectfully declined. To my surprise, I received a phone call a couple days ago from the FMP manager that he wants me to come back for full-time, even though I didn't spend my junior summer there.
What should I do if I don't get an MBB offer for full-time? Initially, I would've definitely gone back to tier 2 consulting, but I have a sister at McKinsey who thinks differently. According to her, it is much better to be a rockstar at a well-respected F500 like GE than to go to a 2nd tier consulting firm where my MBA application will be filled with kids from MBB. Apparently, the tier 2 firms are really being squeezed out by MBB, with no signs of slowing down.
Primary goal is to get into the best business school possible so I could make a career transition (not yet entirely too sure what) there.
Any input would be much appreciated. Thanks!
Hello, first up do recognize that you are in a good position, regardless of whether you obtain the MBB offer. From your internship in tier 2 firm and internship in GE FMP, I am sure you would know lots of folks in the respective companies. My suggestion would be to talk to them (like duh?!). Ask them hard questions, what did they not like about it? In what ways can the opportunity/job be improved? What was their decision in coming into this job? Some of them would also have moved on in the past 1 or 2 years, find out where they have gone.
If your sister meant that consultants at tier 2 consulting firms are being squeezed out in terms of business school applications, I don't know how true that is. The people I know who have applied to business schools from the firms you mentioned didn't seem to have too much of a difficulty landing at an M7.
If your sister meant that the firms themselves are being squeezed out for business, that obviously depends on the firm. But all of the firms that you mentioned, from what I know, are doing just fine (at least in the offices I talked to, I guess).
I think the decision will come down to which environment you prefer. Having gone from a F500 to a consulting firm myself, I know how different the culture can be. I personally found working at a huge company very unappealing and didn't want to go back So I'd decide based on which culture you preferred. After all, you'll be spending quite a bit of time at work.
I think being a rockstar at ge will yield a higher chance at getting into the schools you end up applying to. Schools need people with experience from different industries. They bucket consultants separately from oil, auto/aero, energy, etc.
My point is this: if you're choice is based solely on b school admissions, you will have less competition coming from GE than coming from consulting.
I would even venture to say that your chances at H/S would better coming from GE than MBB because a consultant's competition at H/S is so fierce. Note: I have no data to back this.
GE FMP is a glorified back-office like position not too much from those you do at banks (controllers, financial reporting, risk, internal audit, treasury, etc.) I would go the consulting route
Do consulting and don't look back. Trust me. TheBlueCheese hit the nail on the head with what you do at GE. Most people try to leave FMP to go to shops like the ones you mentioned above, and not vice versa.
Placeat eius adipisci quos consectetur asperiores. Maiores veniam sed ut dignissimos quia qui. Quibusdam modi dolorum reprehenderit qui ipsum.
Labore mollitia deleniti quisquam nihil molestiae asperiores. Ratione nihil ipsum occaecati vel optio odio eveniet.
Omnis amet sunt sapiente voluptatem aliquam consectetur. Molestiae sed repellat maiores deleniti. Quibusdam labore at laboriosam quos cupiditate sit.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...