Comments (26)

Feb 4, 2020 - 4:29pm
  • did you hire direct from undergrad or an MBA program?
  • salary progression (base/bonus/signing bonus)?
  • LCOL MCOL or HCOL city?
  • how does the program work? (i.e. rotate through x roles in y functions for z time period)
  • what is your typical day like?
  • any other questions you would be asking (and answers) if the roles were reversed and you know what you do now?
Feb 4, 2020 - 8:01pm
  • Hired directly out of undergrad. Interviewed early winter and accepted offer about a month after.
  • Base salary is around $65K w/ sign on bonus and annual bonus based on performance and company performance (~ 5-10%).
  • Company is in a major market with business units spread out all over the globe. My first rotation was in a middle market area and then rotated into corporate HQ.
  • The program length is 3 years - usually doing 3 separate year long rotations. This is a good time line because it allows you time to learn a lot of different parts of the business. About halfway through the 3rd year you start to get recruited for Senior Analyst roles.
  • Typical day depends on the role. I can give you it from the FP&A/Strategy side of things... usually come in around 7:30AM check emails and get caught up on industry news. We have a coffee shop in our building so after I make sure there's nothing crazy urgent I fuel up for the day.

By 10AM I've probably got a few messages from my boss on certain costs that have hit in the month or questions on a certain financial model we're working on. Once those are taken care of I head off to talk with one of the Project Managers and Marketing Directors for one of our major projects that is supposed to be launched in the next fiscal year. There has been a change in scope so I need to assess how these changes will affect the model.

By 12:30PM it's time for lunch. Most likely will just grab something to go back to my desk with as I'm patiently waiting to touch base with my boss on some follow up questions I have from an earlier meeting. One of the best (or worst) parts of being an FLDP is the learning curve. You will be given a lot of responsibility and exposure, but it all doesn't fall into place at once. I've found that setting some time aside to ask your questions is important.

After lunch I head to a portfolio strategy meeting with my boss. The meeting consists of primarily all executives but since there will be a lot of discussion will pertain heavily to my day to day, she thinks it is good I attend. I tend to ask to be invited to a lot of these types of meetings when appropriate because it makes for great learning.

By 3PM most of the critical components of my "To DO" list are taken care of. I finish up some ad-hoc reports for our VP of Finance and head to my boss' office to see if she needs anything before she leaves for the day. We go over some changes she made to the financial model I had worked on a few days prior, explains her thought process, and we start to put together the slide deck we plan to present to leadership the following week. Most days I'm out the door by 4:30/5PM with of course the occasional late night here and there.

  • As for questions to ask:
  • What are the opportunities for growth in the role?
  • Do candidates have a say in their rotations?
  • Once placed in a role - don't be afraid to ask to be more involved. I think most FLDP's are exposed to more than a typical analyst would be. But there's no shame in asking ! Show initiative and put your head down and work when the opportunity presents itself.
  • Understand the difference between Corp Fin and Banking. I think a lot of people (including myself) come into the role with false expectations. You aren't going to be worked like a dog for 80 hours a week (a pro for sure). But there will also be some down time. Learn to use your time wisely. I usually like to set up networking meetings with senior leadership when I know there will be some down time.

Hope this helps!

Feb 5, 2020 - 12:40pm

"the meeting consists of primarily all executives," "ad-hoc reports for our VP of finance," "exposed ...more than a typical analyst," "networking with senior leadership," "a lot of responsibility and exposure."

Everything you say may be accurate and I appreciate the positive attitude, but why effectively namedrop throughout your WSO post? I don't see how patting yourself on the back in your uninvited AMA really helps readers. FLDPs are total mixed-bags, and like with anything else it is what you make of it.

Feb 5, 2020 - 7:54am

corpfin23 - Thanks for doing these. Here are some questions I always had:

  1. I have read a lot on WSO that people who started in FP&A or CorpDev later plateaued since they were not winning the bread for the firm. Essentially, there comes a point where the FP&A Head wants to switch over to a P&L role because she understands the value chain in the firm. Do you plan to take that route later in the future or are you content with the role your boss has (since this is a good proxy of what you will do when you become that boss in a few years)?

  2. Does it make sense to go in an FLDP that is not in Fortune 100?

  3. Do you know any alumni of the program who switched over from the FP&A route to something like consulting or operating partner in PE?

  4. Did you take the FLDP because you love the specific industry your firm operates in or because this had a better work-life balance than other finance roles (i.e. IB and Capital Market roles)?

Most Helpful
Feb 5, 2020 - 6:18pm
  • My goal is to transition into Corp Dev/Strategy role eventually. I think FP&A lays a good foundation for understanding the business at its core and plays a major role in ensuring the company is jiving with its strategy.
  • I don't think it makes a huge difference if the program is for a F100 firm or not. Of course - a program at Microsoft or a company of that caliber stands out more on a resume, but I think you can make a case for why working in a smaller company as an FLDP too. For instance - at an F100 firm you may be working in a specific BU or in a corporate role but with little visibility and much more of a ladder to climb in regards to promotion and what not.
  • Yes - a few graduates of the program have left for Consulting positions as well as Corporate Dev roles, and a few who've found a way into PE. Those who stay on through the program typically climb the ranks quickly and some have found their way into Director and VP positions before the age of 30.
  • Combination of both. I think I gravitated to the program primarily due to company reputation but also my interest in the industry. IB was an interest of mine early in my college career but I think I found more interest in the intimacy of corp fin and the detail you get into within the various roles.
Feb 17, 2020 - 6:01pm

Is there a hiring period for FLDP like there is one for banking, or is it random? Do select companies do it or is it dependent on need. I am trying to get into Healthcare FLDP (preferably in biotech) but can only find ones in tech. Do you know any specific healthcare FLDP's that I can go for around this time of the year.

Feb 17, 2020 - 8:02pm

Most FLDP's recruit during Fall semester , so a perhaps a little behind the banking recruiting timeline but not too far. I know our firm is done recruiting but there may be a few programs currently accepting applications. Good luck!

Feb 19, 2020 - 12:43am

If you get the right company and rotations these FLDP's can provide great experience. I know Cigna has a great FDP rotational. Current CEO went through it and some segment CFO's did as well. I did a super day for the MBA/Accounting Associate class and had a great experience. Company has some really interesting prospects moving forward and if you are interested in the pharmacy space, has opportunity to rotate through Express Scripts. My understanding is they will be expanding the Corp Dev M&A team quite a bit over the next five years and the FDP has the potential to rotate through that team. Honestly, on a pay/work life balance was probably the best offer I received. Ultimately didn't take it as I was offered an opportunity for an IB internship in HC. Happy to field questions on the Cigna FDP if anyone wants more info. Just DM.

Monkey see. Monkey Doo [Doo].

  • 2
Jul 13, 2020 - 5:02pm

I was wondering if there's a significant difference in prestige among fldp programs.

I currently intern for a F200 company with an fldp, but was thinking of re-recruiting next semester for one that's more established. Ofc the risk is that I end up with nothing.

Factors that I'm considering are grad school apps, international rotations, and pay.

What are your thoughts? Thanks!

  • Analyst 1 in CorpFin
Jul 13, 2020 - 6:07pm

There certainly is a difference in prestige between different programs, but how much that really matters is probably a case by case basis. And prestige is really only good if you want to job hop directly after the FLDP ends or go to an MBA. Otherwise you should be more concerned with upward momentum upon graduation in your company, how old the program is, where alumni end up, etc.

I wouldn't look at these tiers in the same way you look at tiers for schools or banking groups.

Tier 1: GE, J&J, Microsoft, Raytheon/UTC (They're merged now), Capital One, Lockheed, and a few others
Tier 2: Any other name brand/F500 program
Tier 3: Non-name brand F1000/Middle Market company

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