FLDP in aerospace/space industry
My goal is to become a CFO or at least a financial executive in the space industry.
The space industry is quite underdeveloped rn and there aren’t many space companies.
Are there any notable FLDPs in the aerospace industry? Does the industry even matter since maybe I can just change industries after the FLDP?
Thanks
I don’t work in the industry but in my opinion your best bet would be to get into a FLDP spot at a reputable A&D company Lockheed Martin, Raytheon or General Dynamics, maybe even Boeing. That should set you up with a decent background to end up at one of the companies you described. A&D IB would definitely do it too.
Thanks for the advice.
Didn’t know Boeing had an FLDP. I will definitely look into it.
I had the very same goal in college- I thought space exploration, rockets, exploring Mars were the coolest thing happening right now (still do) but I wasn't on the engineering track and didn't really want to be. So my compromise was to try to rise to be a financial exec at an aerospace company, since at least that way I am a little closer to the products I am passionate about.
I got into an FLDP at a top A&D company, but one that is more focused on the defense side. Turns out I hated it. I hated how it seemed like so much money was squandered on things. How finance is more of an accounting function, manually doing the work that better, newer software should be able to do. The whole government acquisition process is so slow an inefficient. A&D companies don't have the same forces of supply and demand that other companies have. Succeeding in finance roles is more about learning the rules of cost accounting, about the FAR and ITAR and stuff rather than clearly communicating variances and adapting costs and budgets to supply and demand.
So I left the industry and decided I was better off keeping space stuff as a hobby rather than trying to get into these companies. So, if you are like me, I would keep away from A&D companies because it seems like that is where creativity goes to die. Unless you can get into spacex.. they seem to be a different breed (and actually move quickly). Other issues with A&D are lower than average pay at every level in finance, slower career growth (it seems like everyone is 2-7 years older than market average at every promo level), absolute rigidity about cost and timecards (have to charge your time and get tons of scrutiny on it, travel budgets are extremely strict, free snacks/office perks are nearly non-existent), and a few other things (often old government rented buildings rather than new/upgraded office space), etc.
Only time I'd recommend someone go into A&D finance is if they are truly passionate about A&D or have a military background. And when it comes to passion, make sure the company is fully geared toward that passion.. I wanted space exploration stuff. Not missiles, not tanks, not military satellites.. so that whittles down to only some A&D companies, and only a handful of contracts within those companies.
Feel free to ask any questions!
Hey Dan
It’s actually very refreshing to hear someone with a very similar goal as me. Or at least that had.
Exactly. I get the traditional A&D industry is a different from what I actually want to do. I was planning to go to SpaceX after the FLDP as I am a Musk fanboy.
You also mention that the FLDP seems to be more accounting based.
Do you think there is a different path into the space industry besides A & D? Also how is the bizdev department in the industry since I am looking into that field if u know.
Finally what industry did you move into?
I still have the same interests- been watching all the starship prototype launches and static fires, love watching space exploration docs and such. I just realized that unless I was working at spacex on starship programs, or maybe at ULA on human space exploration contracts, I would probably dislike all the menial reporting that goes into government contracting.
My FLDP had some accounting based rotations and some FP&A centered rotations- it depends on what you pick. But my FLDP was heavily centered around "program finance" which is really just Cost Accounting for a contract. Didn't care for that work. Biz Dev seemed to be an interesting area, but at my company it was almost wholly populated by ex-military guys.. Again, my A&D company was mostly just defense, very very little aerospace.
I moved into the utility industry. Still regulated, but in comparison to defense it feels like a commercial company. I don't know if my experience is unique, but I've found that utilities pay pretty well.. my SFA offer was in the 80s (mid-90s after bonus) and here in the 2nd year I'll crack 100k in a fairly low COL midwestern city.
My advice would be to seek out a more exclusively aerospace company- avionics/space side of Boeing, maybe Pratt & Whitney within Raytheon, space systems within Northrop, space group within Lockheed. If SpaceX is the goal then it would be best to be in LA. If you are fully determined to get to a company like spacex then any FLDP at an A&D company will set you up nicely. I looked at some job openings at spacex and felt like my experience/resume perfectly lined up with what they were looking for.. I just was no longer at a place in life where I wanted to move to LA. My other advice would be to keep focused on the final goal because when you're running manual cost accounting reports for the contract to build metal housings for some radar box on a tank, life can get pretty dry..
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