My goal is to eventually get into a corporate strategy role. Everyone I've talked to has said to go through management consulting the first few years out of undergrad and then get my MBA. I am about to begin my final year of undergrad. Interviewed with a couple of MBB firms for the summer intern program but didn't receive an offer, so I'm hoping to go through full-time recruitment and pull a full-time offer or another offer from a tier 2. If that doesn't work out, I was looking into FLDP programs as being a back-up.
How do FLDP programs prepare for strategy careers (if at all)? Are there any programs similar to fldps that are more strategy relate? like in business development and what not? What are some other decent back up plans if for some reason management consulting didn't work out for someone who wants to work in strategy one day?
Thanks, I appreciate it.
Usefulness of Financial Leadership Development Program
On the matter of Financial Leadership Development Programs (FLDP) preparing you for careers in strategy, our users have varying opinions. Some feel that they are beneficial and helpful in building your resume up to getting a career in strategy and other feel that they are not a good use for years of your career. One point that our users did agree on is that it helps to start you career in management consulting to go into corporate strategy, but it is not necessary.
While user @Bernanke's Beard shared:
Based on my conversations with current and former FLDP's, many of the companies have rotations within their corporate strategy/department.
User @watchitburn shared:
Some finance leadership development programs can be a good way into corporate strategy within and outside the company. The majority of FLDP jobs are in Accounting and Corporate Finance (FP&A). Some programs vary and offer positions in Corporate Development (internal M&A, joint ventures, partnerships), Corporate Strategy (like internal consulting), and/or Business Development (sales), but this is depends on each company.
There are many benefits to being in a finance rotation program, such as exposure to different functions within a company, a large finance network that includes directors and VPs at a company, diverse job functions every few months, and lots of leadership training. But at the end of the day, finance and strategy are two separate jobs.
Personal Background: Worked in Corp. FP&A in a finance rotation program, now work in Corporate Strategy
However, User @D M shared:
FLDPs definitely do NOT prepare you for a corpstrat career. MBB or similar does. It does, however, add value if you want a strat career. Here's what FLDP helps you with for a career in strategy:
- Strong, basic understanding of the fundamentals of the business.
- Teaches you how to interact with others (professional development and persuasion)
- Teaches you leadership, which will be imperative (you'll be working with people in many different job functions, from analysts to CEOs. You must be able to communicate with them, and knowing how to lead is a large part of this)
What you don't get is diverse experiences. Your job changes daily, even hourly in strategy, whereas in an FLDP, you focus on a specific job function for a few months at a time. In strategy you might go from working with a marketing director for an hour to a meeting with a divisional CFO and his team.
Another path, as you mentioned above, would be a tier 2 strat consulting job and then jump into industry. I don't know much about that route, but as always, you will find a position if you're the best (or top-tier, at least).
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