FLDP Early Exit or Finish Out
Hi everyone, weighing some thoughts out in terms of career planning and looking for some input.
Currently in year 2 of a 3 year F500 FLDP in a project finance role with prior experience in an accounting role. The goal for the third rotation is to land a corporate/sector FP&A role to make a clean exit to SFA in FP&A either within the company or externally. Pros of the current role include great WLB (currently remote), exposure to senior leadership, future accelerated growth, and decent pay. The only major con of the program is location at the moment with remote work approaching an end and potentially having to spend another year away from family and my significant other (not enough experience to jump to a new role/location).
I've been reached out to regarding a financial analyst II role that is more business unit FP&A in a F50 environment. Pros of this opportunity are the location which would close the gap between my significant other and be a hybrid work environment and a 15-30% pay increase. Cons include uncertainty regarding a new role/team, missing out on opportunities finishing out the program, potentially getting locked into something I do not like.
I'm looking for advice from those that have finished out programs as well as those that have jumped ship. Given what I have laid out, what do you think? This is all still very up in the air but with so many variables to weigh I am curious to get some opinions.
I did a Finance development program at a top bank (GS/JP). I left 2 years into a 3 year scheme, pretty sure I burned the bridges there but I did what was best for my career at the time. fast froward a few years and I enjoy my work a lot more, and I am earning over double that what I would have been if I stay. SO my advice is to do the same, only if you feel it is the right decision for your own career.
I am at an FLDP at a F500 Healthcare firm. Hoping to end up in Wealth Management/Private Banking. You started in a Banking FLDP, but any tips? How did you do it! How can I pivot to the investments side of finance, and exit the corporate finance side?
I was in a 3yr FLDP at a top A&D firm. I wanted to leave after 2 years but decided to stick it out. A buddy of mine in the program left at 2 years and got a nice bump. I was jealous. At the time we were both at around $67k in pay, mayyybe 70k after bonus. He left for a FA II job with a base of $75k, bonus that took him to 80k. I thought he had it made- it was looking like if I rolled off as a SFA I would be making low 70s.
When the program did end, my SFA offer was 77k, bonus taking me to 80k. Higher than I expected. I jumped to a different company two months later as an SFA with a base of 88k, 8% bonus, higher 401k match, lower insurance premiums. Waiting was worth it- he took a while to get the same title as me and hasn't caught up in pay.
Don't discount the guaranteed promo. Some companies want to see 4-6 years for their SFAs. If you can get that title in 3 years at your current company, you can jump to one of these at a much higher salary level.. that's what I did. I think I'll come in at $104k this year in a midwestern city.. work is much more interesting, relevant, and transferable too. My advice is to wait, get the guaranteed promo, and then look to jump.
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