Corporate Finance Rotational Program Vs. Valuation Services - What is better for transitioning to Investment Banking?
As recruiting season comes to an end, I am faced with a decision: corporate finance Rotational Program or Valuation?
My options are for a finance rotational program at company in the top 10 on the Fortune 500 or Big Four valuation. My question is what would best position me for a transition into a prominent MM investment bank or perhaps even a BB?
Any advice is appreciated.
I would say corporate finance if you want capital markets or underwriting. Or valuation if you want M&A.
I would say corporate finance if you want capital markets or underwriting. Or valuation if you want M&A.
Valuation and don't look back (unless there's a CD rotation?)
I am in a similar predicament, except I'm deciding between Big 4 TAS vs fortune 50 FLDP. Any more insights? The rotation includes treasury/capital markets, as well as project finance. To OP: the answer will also depend on the rotations available within your FLDP. If it's stuff like cost accounting and internal audit, then it won't do you too much good.
Most likely valuation, but what are the options for location? I would think the FLDP would be in a more regional location, where as valuation being in a large city would help your networking efforts greatly.
A lot of fldps can include, or predominately be, mostly accounting related functions like Internal Audit, Financial Reporting, etc.
Thanks for the advice. I have internships a local boutiques doing sell-side. My goals is to get into a better middle market firm for M&A.
Both are in Detroit, so not really a great city for networking. With that said, the valuation would probably give more ability to transfer to Chicago, New York, etc...
The FLDP includes treasury, and their M&A department, but it is somewhat harder to get into those as an undergrad.
I would say the FLDP is only worth considering if you think you can get into their internal M&A department.
My only concern is that B-schools seem to have a tendency to prefer FLDP kids, because they can play the "diverse & interesting" experiences card. Whereas in Big 4, well, it's Big 4. I'm sure M7 is not short of Big 4 applicants, and we may be compared to Investment Bankers. AFAIK, the only people who make it to M7 from Big 4 are Deloitte S&O kids.
Bump. This is nearly my exact situation.. F250 Analyst Development Program (no accounting work, some financial reporting while in the investor relations department) or Non-Big 4 (probably #5 or 6) Valuation Associate. Possibly interested in B-School in 3-5 years, main end goal PE
I'm in valuation and can tell you that a good amount of people have left for MM IB (I personally haven't seen anyone go directly to a BB / EB).
the FLP's are great for a broad experience and getting into a top b school. I would guess that FLP > Val for B school (one person I know went from a FLP to HBS and one from val to NYU) but these are literally two people so take this with a grain of salt).
IMO, Val -> FLP for IB. FLP > Val for B school.
Valuations hands down as this is more in alignment with IB than corporate finance. From my personal experience, FLDP are overrated at certain company's (I'm talking F500). These rotations usually revolve around middle office-type roles such as FP&A, Project Finance/Accounting, etc.
Unless you can get a rotation and or full-time post-FLDP experience in FX & Treasury or Corporate/Business Development, valuations is the way to go.
Thank y'all for the responses! What if I am deciding between Non-Big 4 Valuation or Big 4 Structured Finance? I know structured products is a more niche market, but I am very interested in AM as well. Any suggestions?
Valuations vs. FLDP vs. Corp. Finc (Originally Posted: 10/30/2012)
So I could really use some advice. I am currently in the final stages of interviews for VMG Health (Healthcare Valuations), Raytheon FLDP, and have secured an offer from a large oil and gas (Global Fortune 100) company in their finance graduate program.
Like a lot of people on this site, I want to move into IB at some point. So I am trying to decide which sets me up better for a transition into IB and also something that would look great for MBA apps.
I feel like Raytheon could give me lots of diverse experience, the O&G is excellent pay/benefits plus decent experience (but a lot of accounting), and VMG is decent experience but only in one sector (healthcare).
I would appreciate some direction on this because I am torn between the options.
I'm not really sure what the finance graduate program is. Is it like an FLDP? Is it just a post grad FA position? Need more clarification there.
Between Raytheon FLDP and VMG health I think it's a bit of a toss up. The valuation job probably gives you more transferable skills to IB if you are trying to lateral in before business school. But getting an IB job from either job will be tough without business school first. The FLDP at Raytheon will probably be better for business school aps. So that's something to consider.
Also, between the O&G offer and the Raytheon offer, think about which industry you like better if you consider the opportunities similar. Because industry matter a lot more than you think in whether or not you enjoy a CF job.
The graduate program is similar to an FLDP. It's 2 one year rotations. One rotation through the controllers group and another through a specific business segment.
I would like to lateral in before b school. Hopefully through the help of networking. But I realize going to b school might be my best option.
I would lean towards O&G. I'm located in a city where the industry is very prevalent.
If you have any questions on Raytheon's fldp feel free to pm
Lateraling before b school is going to be very tough regardless of which job you take. That's just a fact you have to accept now. That said, the healthcare valuation job probably gives you the most transferable skills, and you may be able to leverage that more easily into lateraling into a healthcare group with the right networking.
Other than that, the Raytheon FLDP will likely be less accounting based than the O&G job. So that might change you decision. But if it's a top O&G company it probably has a better brand name that would more easily translate into grad school admissions. It's also important that within f500s it's generally somewhat easy to switch around different areas so you probably wouldn't be stuck in accounting if you stayed there for a career. So if you like the industry better I would lean towards that over Raytheon. Especially with the troubles in the A&D sector.
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