One Month into FP&A and I Want to Quit
I'm going to preface that this is a whiney rant, but I need to rant.
Joined an FLDP program after interning in 2022. The analyst class that graduated when I was an intern got great final placements in Asset Management, Corporate Strategy, Corporate Development, Investor Relations, Capital Markets, and Capital Management. Honestly, this really drew me into the program, and I was convinced by the analysts and the program manager that those outcomes were typical.
So, I turned down a management consulting offer in favor of the FLDP for better WLB and exposure to pretty lucrative careers. More time with my girlfriend and generally more lucrative roles was my thinking.
Needless to say, it was 2022. Capital was cheap. Hiring was up. Companies were paying more than ever. There are lots of vacancies and no layoffs. Yeah, of course, those FLDP analysts got those roles.
Today. No former Fldper is leaving those roles. Bridges were burned with some of the more lucrative groups. Massive retirement package layoffs occurred and are planning to continue for another year. Whole groups got wiped out, and re-org need to happen. Teams need to focus on experienced professionals vs taking on a rotational analyst. It is what it is, but I feel a little jipped. I should've done more research, but that's on me.
My first rotation was in accounting, and I hated it. So boring, but it helped me improve Excel, attention to detail, and was a good foundation overall. My next rotation was in treasury operations. It was my last choice on the rotation list, but it was actually awesome. I led an analysis that brought in 200mn for the company, did tech project management work for the ops team the CFO reviewed, did some credit analysis and portfolio reviews, and did some relationship management. I was offered a full-time position here, but then my manager took the retirement package.
When the next rotation list came out, I was expecting it to be awful, like the previous one. That said, we got the first pick this time around since the class ahead of us graduated (2 years, 4 rotations). The list was all FP&A, which I didn't mind. I only heard good things about it from everyone who did an FP&A rotation. I got my first choice in the best group.
I feel like I'm dying every day, and it's only been a month. Refresh reports, upload new numbers, provide some commentary, and email BU leaders. I'm not doing anything; I'm just completing a process.
I like making Excel analysis files and PowerPoint presentations. I like making an impact and doing something that is actually impactful. I don't get to do that here. Just refresh, upload, update, and follow PYs formatting as closely as possible. I'm also not optimistic regarding future roles. It's looking like it's entirely going to be FP&A.
The program manager has me talk to interns and first-year analysts about how to be high-performing analysts. I had one-on-one talks with the program manager, and they said that I would be a good analyst for this or that role, but there are just no opportunities. The program manager says I'm incredible and that someone will recognize my value, be it here or somewhere else. They also suggested I start studying for my MBA. I'm a good test taker and helped my sister get into a T10, so I'm not too worried. Some interns mentioned that they thought I was the smartest analyst there and what I'm still doing at my F100/why I took this offer. I didn't know how to answer.
Networking internally isn't going anywhere, given the company's situation. I applied to various external roles. From consulting, business analyst, strategy analyst, relationship management, and corp dev at small companies in my industry that don't typically hire bankers. I only got one interview for a strategy role at an EB. I withdrew my application after finding out all in comp was 65k for 12hr days, 6 days a week, all in person. The job market is awful. While in my accounting rotation, a friend actually got me this IB role at this super LMM Bank focused on my industry (15-person shop). I felt like the F100 would bring more opportunities, so I declined. Honestly, I still think that's true, but if I took that offer, at least I'd be doing things unlike now.
I feel like a failure, and I'm so dissatisfied. I know this isn't the case for FP&A in the long run, and I know that F500s are much worse than smaller companies where you can wear many hats. If I do want to do an MBA, though, name-brand matters. I don't know how I can do this for 4 more years.
I'm not looking for prestige, either. I just want a role where I actually do something. I'd prefer to do sales, marketing, teaching, or journalism at this point.
Also, I get the get hobbies and take the paycheck comments, but honestly, I work 40hrs I don't want to feel so braindead and dissatisfied during the majority of my day.
Regardless though. I am thankful that I have a job in this environment, and I make 90k all in, so I'm definitely overpaid for my output. I'm just going to keep applying and networking.
Rant over.
Based on the most helpful WSO content, here's what you need to know:
Key Points from Your Rant:
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Current Market Conditions:
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Job Market and Applications:
Current Sentiment:
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Evaluate Long-Term Goals:
Consider an MBA:
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Stay Positive and Patient:
Utilize Current Role:
Remember, career paths are rarely linear, and it's okay to pivot and explore different avenues until you find the right fit.
Sources: I hate the living sht out of my job as a current salesman. I hate sales with a burning passion. I need out. Please help., I hate the living sht out of my job as a current salesman. I hate sales with a burning passion. I need out. Please help., https://www.wallstreetoasis.com/forum/investment-banking/qa-i-hate-my-banking-job-most-likely-transferring-to-back-office?customgpt=1, Career switch from journalism to finance...how to go about?, Are you guys happy with life? Help me please.
I was in your shoes with my first job. I had a corpdev internship and went into FLDP and lasted 6 months in the FP&A rotation before i jumped ship (kudos for sticking it out as long as you have). I made a jump for a corp dev/business analyst role at a port-co. It was worth it for the change in scenery if nothing else. That being said... The market is bad, you're not wrong. non IB High finance is absolutely inundated with ex-bankers who got picked up at MM+ firms during the covid M&A boom and instead of going into sales like most of them should've in the first place, they got cushy bank gigs and now they're leveraging those names into getting the corp dev/strat jobs across the industry.
My advice to you would be stick it out for now. The market is too rough to get complacent and potentially get pushed out. They recognize your value, and you are an asset being a graduate from an FLDP, program sponsors will move heaven and earth to keep you happy because you are the flag bearer for the next crop of analysts. Opportunities will start to open up as rates go down but its going to be 12 more months of hell, at least.
In the meantime, though keep applying to roles and never turn down a recruiter call. You never know when they might bring you something interesting.
Thanks for this. Yeah, the answer is pretty clear: networking and applying to roles is realistically the only way forward.
I know a lot of this is my fault for not understanding FLDPs and Corporate life to begin with. The program doesn't exist to give future leaders diversified experiences and prop them into lucrative roles. Rather, they exist to fill vacancies; not all groups will be open, and a lot of it surrounds the capacity to take on an analyst.
I was really sold on the program because of the exits I saw and the opportunities the analysts and program manager kinda promised me. I should've done my research and backlogged analysts' final placements and realized that if new analysts landed those lucrative roles, they wouldn't be options for me by the time I was in the program.
I'm just disappointed. I graduated from a good school, am a high-performing employee, and had other great offers that I turned down. Even in my previous rotation, I brought in 200mn for the firm. I just feel like my talents are being wasted just facilitating a process, not doing any creative analysis/research, making anything, or solving problems. I made a mistake, and I know I have to get out of it.
On the upside, even FP&A rotational analyst graduates from my program have made it to T10-M7 MBA programs, so I have that going if all else fails. Managers and the program manager also have a great impression of me. I also have another rotation in January and can try to recruit for FT positions at my firm in July. I know I shouldn't be ungrateful; I'm making a great salary for barely working 30 hours a week and can WFH whenever I want.
But it's just hard reconciling the promises with the reality of the job, knowing I had better opportunities that I turned down, seeing how much of a factor luck plays, and feeling stuck in a soul-draining role mindlessly tapping my mouse all day.
Thanks for listening. I legitimately don't think I can tell anyone about this. I'd feel like too much of a failure to my friends, girlfriend, coworkers, or parents. Thank you for the encouraging words.
I had a very similar experience in my FLDP- was over the moon when I got the offer, thought it was a gilded path to leadership, and then found the work to be pretty dry. Also found that many FLDP graduates were still SFAs in various corners of the company- it was not a pipeline to leadership.
I found that the FLDP pays off the most by leaving the company- the company rotates you through different roles and thinks that you now "owe it to them" to stick around and slog your way up. Other companies (without a rotation program) see all the experience you got and are more than happy to take you.
I encourage you to stick it out through the program- so much of early roles is putting in the time to check the box on required years of experience before the next role. Think of it as "up or out": At 2-3 years make sure you get your SFA promo or jump to a company that will give it to you. At 4-6 years make sure you get your manager promo. If not, jump. At ~10 years you target director promos. By then the work is interesting, the money is good, and you have a lot of visibility to top management.
I was on the verge of jumping out of corporate a few times- getting director seemed too uncertain, and the work in the meantime was not interesting enough. I ended up jumping to a company where the work has been interesting, my leadership is happy to promote me commensurate with my performance, and I believe I have a long runway ahead of me. Should get the director promo in the next few months, and getting director at my age makes VP more or less an inevitability.
My overall point is that if you build a resume of 2 years FLDP -> 2-4 years SFA -> 4-6 years manager, you will be in contention for director roles. Land one of those before 40 and you have a great chance at VP. I always heard this and thought "yeah but what if it doesn't happen?" but now from the inside I see how we hire directors, I get approached on LinkedIn about director roles, I see some peers get the roles- I realize it is a lot less about luck than I thought. The work gets more interesting, the money grows faster with each promo.. The first couple years are just a real slog.
EDIT: Here is a comment I made to a post a while back that you might find helpful: What Was Your Career Progression | Wall Street Oasis
Not reading all of that. Is this just a rotation through FP&A or is this your full time gig out of the program? If it’s a rotation then shut up and deal with it. If it’s your full time job then keep applying and shut up and deal with it in the mean time.
Sounds like a smaller company is what you need. Recent MBA grad here who got rejected by a few FLDP roles (1 of which I made it to the final round). I stupidly thought that larger companies might give MBA graduates more flexibility in what they could do in rotations / roles but it didn't seem to be the case. I remember one of my interviewers during the process mentioning that and because I career switched a few times prior to my MBA, she had concerns I would get bored with the rotations in the long rotational program they had (~5 years). Ngl, when I got rejected - I did think that interviewer had a really good point and I may have been miserable within the rotational program.
Got a FP&A interview shortly after graduation at a smalller company and it sounded far more interesting (reported directly to the C-suite). Didn't make it past the phone screen.
Recently had a final round for a small company for a role that has a bit of everything I want in a role - strategy / finance / operations. Hard to find unique roles like that at F500. Agree with the other posters, keep applying to jobs out there. The job market tends to be friendlier when you're employed. You're young and your job sounds way better than my first few jobs out of college.
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