Overall Company Rating
2 out of 5 Stars
Lot's of free food. Most of the Administrative/Finance staff are great people.Downers
You'll be paid $3700/month before tax. This is particularly offensive when you are generating the ideas that are the lifeblood of a firm that manages over $2 Billion in assets.
This salary was surprising also because the firm spends enormous amounts of money on yacht trips, dinners, free lunches for the summer associates - seems like there is dissonance between what they think we want vs. what we actually want (a salary that is at par with industry standards - keep the free food).
The full-time recruiting process is completely unstructured: interviews are held haphazardly toward the end of the summer, offers are distributed at varying times - this creates some dissension among the summer fellows which is completely avoidable.
If you're under the illusion (as all of us are when we start the program) that you will be at the helm of any of the companies you help launch - you're deluded. The partner takes credit, an outside management team is brought in to grow the company and you'll be back to square one (exploring the "white space"). Full time salary: 110K, no signing bonus, no equity in the fund or in the companies you help start (no, 0.05% does not count).
The work you do here is super specialized - almost zero transferrable skills on the chance you'll want to explore exit opportunities in the future. Additionally, very few people outside of the Flagship ecosystem trust Flagship management - i have had the fortune of interacting with several CEOs, VC partners that have shared this sentiment: Flagship and their portfolio companies are fraught with secrecy and a lot of their startups are backed by minimal science supporting astronomical valuations - again more food for thought when thinking about investment/exit opportunities.Advice to Candidates
The partners have wildly varying personalities and your experience at the firm will be shaped almost exclusively by the partner you are matched with. As a general rule of thumb: stay away from the younger/less experienced partners if you can. My advice to management would be: Revise your compensation packages for summer associates and FT associates - paying what you pay for the wealth of ideas, IP, generated by graduates from the most competitive universities in the world is nothing short of predatory.