Q&A: Healthcare Industry FLDP
I see a lot of Q&A's on here but not too many regarding FLDP roles. Here to answer any questions regarding pros/cons, recruiting, day in the life, etc.
I see a lot of Q&A's on here but not too many regarding FLDP roles. Here to answer any questions regarding pros/cons, recruiting, day in the life, etc.
Career Resources
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.
Hope this helps!
"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.
corpfin23 - Thanks for doing these. Here are some questions I always had:
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)?
Does it make sense to go in an FLDP that is not in Fortune 100?
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?
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)?
Great! Thanks for doing this.
I don't think I've ever met/seen a VP under the age of 30
My father is a CEO of a Major Healthcare company... it all boils down to what you know
Any thoughts on McKesson's Finance Rotational Development Program (FRDP)?
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.
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!
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.
Would love to hear more. What are some possible roles/responsibilities? And is this mba or undergrad?
Still around? Would love to ask you a few Qs via PM. Also heard rumors that corp dev/M&A may be a busy group for the next few years through some alumni.
They seem to have a lot of focus in pharmacy but still a ton of their business is directed towards more value based care models.
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!
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
Thanks for the reply!
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