FLDP or healthcare consulting?
I'm currently a corporate finance intern for a F200 healthcare company and am thinking about my fulltime opportunities for next year.
I have 2 options that I'm considering: 1. Accept return offer (assuming I get one) and start their rotational program. 2. Re-recruit for a "better" healthcare company with a rotational program (JNJ, Abbott, Abbvie, etc) or mid-tier management/healthcare consulting (Big 4, Huron, LEK, etc).
Some factors I'm heavily considering are grad school apps (rank 8-15), promotions long-term, and salary.
I know I'd be taking a huge risk by recruiting again, especially given the environment right now, and receiving a less prestigious offer, but I don't want to have regrets. Also, I love the people/culture at my company but the work is a bit boring.
Can I please have some insight on these options?
For reference, I have a 3.6, semi-target school, decent extracurriculars, and studied abroad. Thanks in advance!
If you didn't get the FLDP internship through your school's on-campus recruitment (or if you won't get burned by your school for renegging on the FLDP offer should it come) then I see no reason why you can't accept the intern to full-time offer and then recruit when you get back on campus.
Though its my understanding that healthcare consulting is not seen as prestigious as a good FLDP. Maybe a half-step below it. Mid-tier management-consulting on the other hand can be equal or better to your FLDP. Depends on your FLDP.
Thanks for the reply! Do these reputations apply to grad school apps or more broadly?
I believe FLDP >>>> healthcare consulting in grad school's eyes. Again for T2 consultings vs FLDP it really depends on which firm/group your comparing against which FLDP. Case by case basis.
Grad schools like FLDPs because you see a lot of a company and firms really train you for leadership. You're also able to get that senior fin analyst promote fairly quickly which is great. Especially considering how grad schools do admission. They put all of the IB kids in a bucket and compare them against each other, they put consultants against each other, corporate finance against each other etc.
They generally don't compare a banking candidate to a FLDP candidate vs an accounting big4 candidate. So, if you're in a FLDP, you're at the top of the food chain in the corporate bucket. You'll be competing against a bunch of non-FLDP analysts. This is good for you. But you can't just rely on the FLDP title, you still gotta put the work in.
This is also why its hard to really compare consulting vs FLDP on a broad scale. Its unique for each comparison.
Depends pretty heavily on what kind of healthcare consulting - if you're doing like, ops/ implementation for some boutique probably not. However, if you're at a MBB/ T2 strat firm or a healthcare firm like Putnam or something more like that, that would compare favorably to most brand name FLDP's.
Right, I've primarily heard of healthcare consulting in the context of revenue cycle management/ops/tech implementation/general implementation. Strategy at a top firm will be good experience
I don't have a whole lot to add here except that my F500 company is working with Huron consultants right now. It definitely shattered my illusion that consulting was some kind of promised land. I always thought consultants worked on high-level strategy and would bring enlightenment to their client.. but in our case we have them doing oracle database shit that all the regular employees are so happy we don't have to deal with.
Not that FLDPs are the glamorous life either.. travel and trainings are cool, but at the end of the day you are a financial analyst. Seems to me that you get some ownership at the manager level, and the real interesting stuff comes at the director level.
There are a ton of different consultants and more generally "professional services providers" dude.
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