Pretty bored out of my mind so I figured it would be a good opportunity to be able to answer any of the questions that the WSO community may have regarding an LDP program that I am currently a part of. A little bit of background: -I graduated from an east coast non-target (that thinks it's a target but trust me, it isn't) -Rotational program with the opportunity to be placed in a role supporting any part of the business from FP&A to Treasury to anything you could possibly imagine an analyst doing -2 rotations within the program but overall pretty good visibility into all of the parts of the business if you really know how to network around with the directors and VPs. Just hoping to answer any of the questions that I definitely had when I was going through the recruitment process for all my fellow monkeys out there!
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What's comp like? Starting out and throughout the program please. Also what type of COL
Program’s all over the country but majority based out of NY,NJ,PA area. Same salary for everyone in the program regardless of location so someone working in the middle of nowhere in Texas is making the same as someone in an NYC or Philly suburb. Obviously, cost of living varies so much with that but instead of renting a one bedroom place in Jersey for 1,500+/MO, a hefty majority of local people who are in the program stick it out with mom and dad until their second rotation where they go somewhere completely different.
1st rotation you’re looking at around low 60s+10% year end bonus
2nd rotation you’re getting bumped up to low 70s+10% year end bonus
The program is a feeder into management roles within the company so from there I guess you can just follow any corporate latter there is. You’ll be living a very comfortable lifestyle if you stick all the way through the company for your career and make it to a Director level but in no way will you be throwing lobsters off the Naomi.
Hi, thanks for taking questions... what's both the best part and worst part of your job?
The best part has easily got to be the people I work with. You really underestimate the impact that just enjoying being around your co-workers can have on your typical day. Something as simple as being in a fantasy football league with them or grabbing lunch everyday with each other really goes a LONG way to creating a healthy work environment.
Worst part I’d have to say is the fact that with any LDP, you’ve gotta be open to relocating away from all your friends and family if there is a role that the company believes is best for your development. Of course they take preferences but at the end of the day, you’re at their mercy so you just got to network like it’s your part-time job to have directors and VPs vouch for you to join their group.
Yeah, actually I think some of us interviewees forget, or discount, importance of culture to a job, and that maybe just "going for the most prestigious" is not necessarily the best way to go.
And as far as being shipped somewhere you don't necessarily want to live? That's rough... almost like being in the army...
Thanks for the info.!
OP I am a 2nd year mba and signed on with a program similar to yours. Anything you are grateful you did in your second year to prep for the job? Anything you wish you did?
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