Finance Development Program Advice
Hi all, long-time lurker first-time poster. As some background info about myself, I have an excellent GPA and decent EC's from a top target, and interned at a top BB this past summer (in a regional office - so I haven't been rejected yet, but no offer from them either). Reached 4 banking final rounds, but unfortunately didn't receive any offers from the recruiting process.
I recently received a FT offer in a Finance Development Program for a $40Bn market-cap corporation (with foreign HQ but a significant presence and growing in North America) - and was told that i can expect to receive about 70K all-in (not including the monetary value of the excellent perks/benefits included). I really had my sights set on banking or M/B/B, but given the financial turmoil, my options are limited and time is running out on the offer. The 3-year rotational Finance Development Program is in its inaugural year - they're trying to follow in the footsteps of GE, J&J etc. but are a little late to the game. I loved the people I met, but am simply not sure whether I'll be challenged enough on-the-job, or whether the exit ops will be sufficient to justify a 3-year commitment. I know this sounds arrogant, but after top BB experience under my belt, everything else just seems comparatively pedestrian.
My questions are:
1) What are the exit opportunities into investment banking or a top consulting company upon completing this Finance Development Program from a huge corporation, given that it's in its inaugural year?
2) What are the exit opportunities into a M7 MBA program further down the road, given that I should be able to get a 750+ GMAT and solid essays/recommendations?
3) Is it worth it to take this job, given that it's a so-so, but not an ideal opportunity amidst difficult market conditions? Or would it be advantageous to postpone graduation by one semester, go through SA recruiting having a huge leg up on the competition and attempting to land an offer from a 2009 SA stint?
Thanks for any and all advice in advance.
To your Q2: I know a Director at one of Canada's largest pension funds who did GE's FMP program after undergrad for 2 yrs (no IB offer at that time, so it was his second best option), then went to the top Canadian MBA and moved into that pension fund, later became the head of PE there.
Q3: I'm also a graduating senior, went thru FT recruiting this yr which hasn't been fruitful (applied to nothing but banking). Now I've decided to postpone graduation, do a Jan-Apr internship and go through 2009 SA recruiting to get more prepared for '09 FT recruiting.
Hope it helps, buddy. And good luck!
-R-
Bump.
Thanks WR, any other perspectives? My deadline is coming up really soon and I was dead set on banking, which is why I'm considering postponing graduation by one semester and going through SA recruiting as a "junior," which I believe will give me a huge advantage over the competition given my experience with regards to both my BB SA stint and also my interview experience.
09 FT does not look any better..
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