WF IBD VS. GE FMP
Hello,
I'm at a non-target and have solid offers from WF IBD and GE FMP
With GE FMP my opportunities after the program are endless, corporate dev., business dev, GE capital, or continue in CAS. I can also go into specific industries (power, healthcare, infra. etc) and have more of a consulting role. I've also seen a lot of people go into the VC/PE industry after a few years at GE. Having GE on my resume will help me out with MBA as well coming from a non-target
My other option is WF IBD (industry group). I like M&A, don't mind the hours but being a lower-tier I'm leaning more towards GE. I like the industry group (can't tell you which one) at Wells and the people are chill. It's would be an awesome gig regardless. I just don't see that many options after my 2-year gig there other than VC/PE/Corp dev. and maybe HF. But even those are hard coming from a lower-tier BB. Hard to decide with a decent IBD offer in hand, otherwise I would take GE hands down.
I have until Friday do decide.
Would love peoples thoughts an opinions on both offers.
You mentioned VC/PE/HF/etc... but do any of those interest you? Any thoughts on going to bschool? GE FMP is an incredible program and you would most likely get to travel to some pretty cool places. You described WF pretty well, but you would definitely want to consider the IBD role if your end game is on the buy side.
wf ibd will give you the options of going into "selected finance gig" (pe/corp dev/ other funds) whereas ge fmp wll not. If you are dead set on continuing in the finance industry, i would say wf ibd as it gives you the fundamentals (more like...you have to know your financial statements cold if you stare at them 15 hours a day trying to fix that balance sheet) If you want to explore the industry route and lean towards the product manager/corp dev route, i would say GE.
That being said, life in GE will probably be easier and more chilled than ibd (aka no client calling you at 10 pm on a sat night when you are buzzed but you have to pick up the call)...so take that into consideration as well
Not to thread highjack, but I'm really confused about what is meant by product management? I tried a search and still can't really figure out if it's a finance or marketing role and what exactly it is they do aside from "managing" a certain product line/division within a firm. Any info on that?
Basically you manage a line a new/existing products from invention ideas to watching the products being pumped out. All the big tech companies have it and I think you get around 150k-200k starting in some of the companies. That being said, a lot of the product managers have prior engineering exp but sometimes they need someone with business acumen as well
Sounds like you already made your decision to go with GE honestly. What business is it with? From my experience with GE, it's a very laid back culture, but there's definitely a GE way of doing things. I probably wouldn't make your aspirations for exiting the company known though, as they LOVE lifers. Most of their upper level management have been with the company for an absurdly long amount of time.
What exactly about PE/VC/HF interest you aside from that being the buzz-words of WSO? You'll learn a lot through FMP, but I've never heard of many people exiting to those particular roles (at least without some additional experience/b-school)
GE > MBA > Whatever
I interviewed with GE Capital for a leveraged finance position after I had two years as an IB analyst. I thought I'd take a change of pace for a couple of years before MBA. I interviewed with four other people, all who were currently working at GE and did the FMP. They were willing to cut my throat for this position because it is as sexy as GE gets. They only hire internally and I think they only interviewed me to make it fair.
I spent all day with senior GE guys and they were cool. The culture was laid back but believe me, they are drinking the Kool-Aid. Any of those senior guys could leave for a lev fin position at a large IB and make three or four times more money. They are married to the culture and don't care about the money. If you care about money and want to guarantee yourself a shot at wall street down the line, take WF IBD. The other guys I interviewed with all wished they were working in IB after being placed in some mundane FPA position in a boring GE arm.
Definitely agree with the Kool-Aid Drinking here. I will strongly advise you not to get sucked into it though if this is the path you decide to travel. Most BBs are aware of the rigor of GE's programs and hold them on nearly an equivalent level as positions at other financial institutions, you just gotta get out before Heaven's Gate traps you lol.
DO NOT jump from FMP to some BS off-cycle role within GE. That is the ultimate Kool-Aid death trap right there. Either bail for greener pastures with all the skills you got from FMP or head to CAS and stack your chips up (100% travel, 100% of the time, all expenses covered o__0 ). You can then jump from that into even greener pastures or stick it through to the end and become a GE executive.
From your HF/VC/PE desire though, I'd say bail after FMP and get more relevant experience to those fields. GE's CAS is essentially their internal consulting group, so you can jump to say... Bain and get that same experience plus some. The Pay from CAS with ZERO expenses is quite a lure for people though.
What do you mean by "off cycle-role with GE? I was planning to go into FMP and then go hop over to GE Capital or their lev finn or M&A biz dev group. Bad idea?
FYI, I'm leaning more towards GE. Location for either are not a problem for me. I'm going to be traveling at GE and I'm going to be in my cubicle all day at WF.
Wells Fargo = shit-show.
Dumping ground for all BB rejects and Rutgers/Boston College/NC University kids.
Honestly I never thought I would get GE offer. I found it a lot easier to network my way into IBD at WF, but the interviews way were harder (more technicals).
I was surprised I landed GE offer, I thought it was Ivy league kids getting spots their. So now I'm faced with a dilemma.
The guys there are fucking chill to the max. and there were some big ballers there too (divisional CFOs, controllers, M&A guys). But then again WF guys were laid back too...the interviewer was bragging about working 20-30 hours less than other BBs while get paid the same or more (kind of makes me thing of the lack of deal experience I will get)
I feel if I did WF 2 years I can really go to GE if I keep connected with them. If I do GE I can go to a top MBA and do w/e.
Does anyone know salaries at GE capital,leveraged finance group or M&A groups? Are they similar to f500 corporate development salaries?
dude, just make up your mind. either choice is a good one. More intense lifestyle = wfc (potential buyside). More work life balance - GE.
what are the locations?
isnt GE FMP in CT somewhere and wells is probably in CLT?
thats worth thinking about as well
What group in GE does their I-M&A or Corporate Development?
How is CAS....I've read horror stories on WSO and elsewhere about Audit at big 4 and f500...is CAS any different at GE? I know the kids get to travel some nice countries and have pretty much all expenses paid for. With htat said, is CAS pretty much the same work as an Auditor at f500 or Big 4? Why are the exit opps to MBB or top consulting firm so good being at CAS GE? There are several profiles on Linkedin with ex-CAS not in MC and even IB.
PM me
sounds like you want GE. Go for it.
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