Finance Rotation in FinTech
Hi all,
A bit about me: I graduated from a "well-known" private univ, with grad with honors, summa cum GPA (studied fin and econ). I did a couple internships during undergrad (finance roles) and landed a full time at a fintech/analytics firm. The role I currently am in is client facing, i work with large asset mgmt institutions to implement the product and work with them on many different projects. I have been here for 1.75 years and am losing interest in this work.
My company is a fortune 100 company and they just opened a corp finance rotation program where I would work with FP&A, Corp Dev/M&A, etc for one year. This role is only open to people like me who have been in my role for 21 months. I landed an interview for this program. My question is .. is this a good career move? Should I be aiming for more senior roles? I've liked my time here, so far: good people, good corporate responsibility, free lunches. Comp is low though.
I interviewed for a couple EBs but the roles were less technical than expected (Financial Sponsor Groups ended up being more rel mgmt) so decided it wasn't great for personal dev
I am also studing for GMATs now so plan to apply this summer for top MBA programs in NY (hopefully).
I would love some insight into what you think of these rotation programs and if they only look good if you are a recent grad and if this is going to be perceived well when I apply for MBA programs
Thank you! Really appreciate any comments, I have no friends or family in finance so Im just feeling a bit lost :/
It depends on what you want to do. I did an LDP right after undergrad and enjoyed the opportunity to work with different people, live in different places (not sure if this applies for you), and learn different skills. LDPs are great for those who don't necessarily know what they want to do yet. Do you know what area within finance you want to target? With LDPs you can choose what skills you want to learn and build your own skillset. Having that unique skill set and experience can come in handy when applying to grad school. People from my LDP (including myself) have gotten into Top 20 MBA programs so it's definitely possible. If you want to stay in corporate finance or switch to consulting I don't think you'll need a full-time MBA program. If you decide to pursue IB, VC, or PE you'll need a full-time program because an internship is critical for those areas.
Thank you! Yes, Im 100% certain about getting my MBA. I think its a good opp for me to explore different businesses. I have year between now and when the MBA program would begin.
My role that I'm in now is super client based and analytical so I dont get to develop much finance skills or modelling skills, feels like the last 2 years the skills ive developed are extremely niche. This "rotation" is a bit different though. Its only called a rotation bec I have the option to go back to my role if I dont like it after a year or I can further my career in FP&A and Strategy. I don't necessarily go from one team to another if that makes any sense.
Awesome! If you are targetting NY then the only schools that are worth applying to (IMO) are Columbia (FT MBA) and NYU (PT MBA). Look at your employer's tuition reimbursement policy and see what it entails. I had classmates that had a big chunk paid for by their employer but it requires them to stay with the company for 2-3+ years post-MBA. My employer reimbursed a smaller portion but it allowed me to easily jump ship post-MBA which was great. Odds are you will need to switch companies post-MBA to get the most meaningful bump in pay.
My first LDP was at an F50 company and the pay wasn't stellar. LDP comp isn't high but with corporate finance it's all about the "long game". LDPs can set you up well down the road as they show how adaptable you can be. LDPs can provide more robust training, mentorship programs, and networking opportunities that wouldn't necessarily be possible in a regular FP&A or Corp Dev role.
Gotcha - that's nice that you have the option to go back. See how it goes and learn as much as you can about what rotations are available and what skills they will help you build. Strategy experience is great to have IMO. I try to focus on skills and knowledge that spans industries so I don't unnecessarily pigeonhole myself into a certain industry.
Ah okay! Yeah I know a few people here doing PT MBA at NYU. I'll deff check out both options.
Can I ask, how much of a bump in your salary did you get once you moved from LDP -> Analyst? My current role (NYC based) is 75k base, so im hoping to get a good bump moving into this rotation to help me pay for my MBA
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