Lessons learned from working as an FLDP
Hi Everyone I have been browsing this site for a couple years now and thought I could give back to a forum that has helped me.
I went to a non target and majored in finance. From there I joined a F50 FLDP program and it has been a great ride. Heres is some advice for anyone considering FLDP.
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From day one there will be higher expectations of you than a normal hire. They are investing time and money into you. They have re-relocated you, there may be intensive trainings and they will have senior executives sponsoring and guiding you through your journey.
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Kool Aid - don't drink it. Everyone will tell you your special because your going to be a rising star in the company - true or not don't act like it. It is easy for it go to your head. Luckily my first manager took me down a few notches and made me humble. I actually learned after graduating that some people in the company hate FLDPs because they are cocky and just as junior as anyone in some cases.
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Pick managers not job roles. You will get varied experience no matter what after doing 4 job assignments in different areas. Spend your time working for managers who are good and will look to develop you and mentor you. Yes it may be cool working in a certain department but I certainly wasted a good 6 months of my life working for someone who made peoples lives fucking awful.
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Be flexible and open. This is really two faceted one being location wise and the other being function wise. If you are willing to go anywhere say from west coast to east coast it will make for better opportunities. The second facet is be flexible in what you're willing to do. Sometimes the company will put you where they need you and thats ok as long as you're open to it. If a company needs you somewhere there is usually a shortage of people which means more responsibility and work to go around which will lead to growth.
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Network with everyone..... you never know who you may want to reach out to for a job next. After graduating you are on your own. No more special treatment. You need to climb and one way is by knowing people who can help you move around/up in a company.
If you have any questions let me know. Cheers!
I agree with your points- a few months ago I wrapped up a F200 FLDP and saw a lot of similar stuff.
-There is definitely a stigma around being an FLDP. Some managers/employees hate you for it because they are jealous, others hate you for it because they had a bad experience with an FLDP who acted like they walked on water.
-The 1yr/6mo rotations are good and bad. The good is that you can get a handful of work experiences, management styles, business units, locations, and networking opportunities under your belt in a short time. The bad is that you're always the "new guy". You spend your first few months trying to learn what is going on, how to do your daily tasks, who everyone is, etc.. After about 6 months you are in the sweet spot of knowing what is going on and adding value. If you are in a 6mo rotation, however, you are whisked away to your next role to start the process over again. If your rotations are 1 year, you have 3 months of value before your rotation starts to wind down, and you aren't given new projects because you are leaving soon.
-Figure out as quickly as possible if you want to stay with that company and in that industry. If you do want to stay, then I agree with OP's advice: Pick a manager, not a role. In my FLDP, ratings were king. If you consistently got top ratings, the company and the program would bend over backwards for you because you make them look good. You are on the fast track for promotions. Furthermore, by the end of the program a top rated FLDP could be making $10k more than an average rated FLDP, even if they finish with the same job title. Here is the crazy part: the ratings are not level-set. Some managers give out top ratings like candy- if you are in the FLDP, you are a golden child to them. Others are extremely strict and hold you to a higher standard than everyone else, and you get the same rating as the idiot who sits one cube over and cant figure out excel to save his life (true story, unfortunately). So by the end of the program, your peers in the program can be making $10k more than you and be on the golden road simply because their rotation managers were easy to please. Seek these managers out. If you don't think you want to stay with the company in the long term, then ratings are not as important- pick the rotations to build a resume to get where you want go.
-As OP said, absolutely be open to traveling. There is so much you can learn from rotating to different locations and business units. You can also profit a few grand if you are frugal with your relocation bonus.
Over all, I would recommend trying to get into an FLDP over being a regular analyst. The rotations are a great corporate finance boot camp and make for a strong resume both inside and outside the company. If you didn't get into an FLDP, you have a bit more control over your career (for better or for worse). You can create your own "rotations", maybe get promoted sooner, maybe stay in a role for longer to flesh out that skill set. Pros and cons to both.