Hi guys, I am a first year MBA student seeking internship this summer. I am deciding between a controller position at Exxon and the restructuring practice at FTI Consulting.
I feel like the work might be more interesting at FTI but would like to hear your opinions on this. Thanks.
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Hi I worked at FTI RX for almost three years and also have a significant amount of F1000 FP&A experience. FTI is a top notch-RX consulting shop and I had a good experience there.
Below are some pros and cons for both:
1) FTI, if RX is your thing than no better place to be for RX consulting besides FTI. Great place to build your brand and a very good culture in the RX practice. Best pros in the business. Exits include distressed buy side ops (HF/PE/Credit), RX banking and a hodgepodge of industry opps. Lots of folks there who never leave though or just jump between FTI/Alix/A&M as pay is very solid at Partner/SMD level at those places. I’m sure there are many partners who outearn Ibankers.
That said, lots of travel, very challenging hours even at SMD level and a skill set that really is somewhat narrow unless your are specialized in interim management roles. (e.g. if you are creditor rights focused not a lot of industry exits) . Also, experience can be somewhat office specific, so would recommend Chicago, Denver or NYC for best career growth.
2) At Exxon there are lots of opps as well and will probably be a much better career for w/l balance. However, it’s a lifer company and i’ve heard the golden handcuffs are real. So be prepared to spend the rest of your life working in that company/industry. Also multi-million $ paychecks will likely be very late in your career if at all.
Good luck, both are great opportunities.
Friends work at Exxon. By their account, Exxon treats their people well in a holistic way. The pay may not be banking/consulting level, but it's very good for the amount of effort you put in. This doesn't mean it's a slack company. Quite the contrary. Exxon is efficient for the behemoth that it is. It's indeed a "for life" company and the culture there is fitting - they value their people and don't overwork them while challenging them just a tad with every new assignment. Management is extremely conscious of employee well-being and development, even though on a surface level it might not seem that way. It's one of if not the last great old-style (in a very positive sense) companies on which this country and its business culture / etiquette was built. Things started to go downhill with Mike Milken and Barbarians at the Gates, but I digress.
People tend to think that things would magically fall on their lap or that management can read minds. Unless you TELL THEM what you want (by the way, they value speaking up a lot, in spite of what it might seem on the surface), you won't get what you want. If you're a top bucket performer, you'll eventually get what you want and more. You have to outperform in whichever "intermezzo" assignment you are given leading to the one you want, because they value long-term thinking and commitment above all else.
Controller to treasurer is common based on what I've learned.