| Topic Name: |
My 2 cents on the FMP |
| Message Name: |
A few thoughts |
| Date Posted: |
03/14/2006 |
| In Reply To: |
I was recently hired into FMP. I know that salary raises occur every 6 months(at rotation). Are there any other bonuses? Relocation stipends? And lastly, once finishing FMP, what proportion of graduates move onto CAS, elsewhere in GE Finance, other(and what are the other places they head)? I understand that GE does not want to hear one is leaving for an MBA, but how much does FMP help with admission to the top programs (top 10)? One of my reasons for pursuing an MBA is career advancement and salary. By attending a top 10 MBA program, I know salaries command ~100K. How does post FMP compare salary wise? I do not want to come across as only caring about money, but when about to start a family it is important to know. Thank you! |
| Message: |
FMP pays well for an entry-level job. I'm not sure what the current salary is, but I think it is up quite a bit from when I first joined (in 1997, the starting salary was $35K). You're not going to make a ton of money, but if you live within your means, you can save a nice little egg. Relocations are handled well to keep you whole.
The big thing to think through is whether you want to do an MBA. If so, that will determine how you manage your career. I chose not to do CAS, and in fact, to leave finance for Six Sigma, and then into marketing/general management. That helped me to differentiate myself from all the CAS people applying to schools. In my year at HBS, there were 24 former GE people. Three former FMP's. One of whom had done CAS. There were a number of OMLP and IMLP's who had done CAS.
As for salary, if you want to make money, get an MBA from a top school. If you go the consulting route after school, you'll make >$150 (with bonus). Private equity and banking pay more.
Don't kid yourself. Money is important (though GE doesn't want you to think that way).
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