Anyone want to add their opinion on working at Factset? Sounds like a great opportunity for networking and getting “in” the industry. I was thinking about applying for their development program. Looks to have some great exit opportunities too.
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Don't work for FactSet full stop if you want to get into front office finance. Options out of FactSet would consist of mostly 1) equivalent roles at CapIQ, Bloomberg 2) performance attribution type roles (mid/back-office) at large asset managers. I know people who started at FactSet and made the move to IB/AM in the front office but they had to jump through multiple hoops (going back to school, multiple laterals) and it's not worth it. If you're in college still go for other opportunities/internships instead - FactSet is more of a Software role than a Finance role.
Second this
I’d love to hear your opinion on my second question as well:
What role do the factset “consultants” play in the grand scheme of things? Do you even consider factset employees to be “in” the industry?
I see, that's very helpful. What role do the factset "consultants" play in the grand scheme of things? Would you even consider Factset employees "in" the industry?
Factstet employees are not considered "in the industry"
Second that. I know one guy who went there and he hasn't moved. It's not bad, but it's not really "finance", it's more financial data. FactSet is my favorite data service but it is somewhat more specialized. Their competitors do have roles closer to what you're thinking of where you would be doing some industry research, analysis, and reporting which is relatively strong preparation for coverage work.
Well that’s disappointing, maybe It’s not worth applying then. Their website claims workers will be on the front lines helping and networking with industry professionals
Helping = customer support; consultant role at Factset is basically glorified customer support - most clients won't remember your name or care about your aspirations
Networking = trying to get users out for drinks/food (which they will happily take given it's free) and better understand what they want from the software platform and potentially help sell more stuff
When I was in IB and thought about people to hire, it would always be 1) other IB 2) Big 4 FAS/Valuations/Audit 3) maybe consulting. Never in my life have I heard of FactSet/Bloomberg employees being considered for IB roles.
Again, FactSet is not a bad place to work for - it's got great benefits, 9-5 hours, and pretty good promotion timelines, and people are pretty happy. However, you'll never be considered as a "finance" professional, and your colleagues definitely won't be the Type A personalities you'll typically find in front office finance. It's up to you what you want in life
Always amazed that no one on the Factset support team knows how to use the platform. The pro may be that it's the easiest job in the world because you aren't responsible for knowing how to do anything.
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