Best ways to prepare for FLDP after graduation?
I've just accepted a FLDP offer from a F500 Chemical company. The job will be based out of a LCOL area with a starting base salary of 65K and a 5% yearly performance bonus. The company is also covering all relocations costs. It seems like most of my rotations will focus on cost accounting and financial analysis, but I have yet to know my first rotation.
I'm currently finishing up my last year at my non-target and I want to know what I can do to prepare myself more for the FLDP program. What are some resources or courses I can take to learn more about corporate finance and accounting?
Congrats on the offer! That's a great step into the world of corporate finance. Here are a few things you can do to prepare:
Brush up on your financial modeling skills: This is a key skill in corporate finance. You can find resources on the WSO Academy that can help you with this.
Learn about the industry: Since you're going to be working for a chemical company, it would be beneficial to understand the industry. Look into the key financial metrics and industry trends.
Understand the basics of cost accounting: Since your rotations will focus on cost accounting, it would be beneficial to have a solid understanding of the basics. There are plenty of resources online and books that can help you with this.
Networking: Reach out to current and past employees who have gone through the FLDP program. They can provide you with valuable insights and advice.
Stay updated with financial news: This will help you understand the current economic environment and how it might impact your company.
Take advantage of the WSO Courses: There are several courses related to Investment Banking Prep, Private Equity interviews, Behavioral Techniques, and more that can be very useful.
Remember, the goal of the FLDP program is to give you a broad understanding of the company's financial operations. So, don't stress too much about knowing everything before you start. You're there to learn! Good luck!
Sources: Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Best Current FDP's/FDLP's?, Lessons learned from working as an FLDP, FLDP Q&A (Most questions answered)
Had similar thoughts when I was in your shoes- got my offer in late October of my senior year. Biggest return for time spent would be to learn what you can about excel- Index/Match, Vlookup, Sumifs. Beyond that I would say to learn what you can about cost accounting. I wouldn't go too in-depth, though- most companies have their own variation and home-grown tools, so as long as you get an overview and understand the basic concepts and purpose of what you're doing, that is enough. The company I was with had such a different way of doing things that excel would have been the only thing to sharpen up on in order to prepare.
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