Accounting intern to FLDP
First post:
I have interned at a big 4 in a rotational audit/tax internship. I really want to get into a FLDP program. I have a 3.97 gpa in accounting, and my university is top 50. Any and all advice is helpful
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You have a really solid GPA at a good school, I would look at what companies recruit most at your school and which of those have an FLDP or corporate finance program for undergrads, those will be the most likely, then look at all other companies in the city you want to end up in and see which of those have FLDP internships. All basic internship prep applies, have a good resume with some extracurriculars, understand basics of the industry of the company you're applying to, understand how the company makes money, look up some recent news of the company / industry and you'll be in great shape. I am not sure if FLDPs do case studies so ask older students or recent grads you know. It wouldn't hurt to network with some recent grads at companies you're interested in (see all of the IB posts about cold emailing). Do some of the above and you'll be in great shape, good luck!
I did almost none of the above while I was in college, I sort of lucked into my F100 internship interviewing well and having some leadership extracurriculars and then I got better at prep while I was working in audit. I was acct undergrad (3.4ish) > F100 acct/finc internship > MS finc (5 yr pgrm, 3.7ish) > big 4 audit internship > passed CPA > big 4 audit until manager > FP&A manager at a portco reporting to CFO.
Thanks man,
Also do good FLDP programs lead to a higher pay ceiling? In accounting from what I can tell, the pay ceiling seems to be around 200k-250k if you don't make partner (1 in 100 chance).
I know IB, PE, and MBB pay better but I have sort of accepted that these industries are closed off to me bc I am not going to a top school. It's so bizarre. I apply to big 4 accounting and I get all 4 to give me an interview. I apply to big 4 consulting practices, 57 investment banks, and a few PE firms in the middle of ducking nowhere in the United States to get zero interviews.
I am not looking for the millions of dollars these guys make, I would be perfectly happy if my max TC was 350k. If you have any advice please let me know. It feels like I will be stuck forever, I can't get into a high paying industry without experience in that industry or another mega pay industry.
1 in 100 chance of being a partner in big 4 but realistically if you wanted to make it in PE/ IB, you would have to be the same level of person. To reach your desired comp level, you also do not have to be a big 4 partner. You could be a relatively average employee in big 4, then jump to a regional firm and make partner in a few years depending on the timing of your jump if you put in some work. Most average regional partners are making around 300-500k depending on the firm/ book of business. Also, when I say average, I don't mean a normal every day person, I just mean average in the realm of highly motivated people. IB PE and MBB require work and stress levels way higher than that of someone in accounting due to the nature of the work and deadlines.
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