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08 May 2012, 13:59
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There is a lot of consensus on the top finance and consulting gigs. I'm not interested in those, but rather in Leadership Development Programs. What are some of the best LDPs out there? What benefits do these LDPs offer to its graduates?
30 May 2012, 13:34
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I interned for a LDP and joining a fulltime LDP for another company.
For me, there are a few qualities to a good LDP:
1) Small size – this ensure attention is paid to the program participants. Make sure “focus” is the reason for the small size, and not budgetary or other reason. It is better if there is only 1 LDP in the company (not 1 for finance, another for marketing, etc.).
2) Mentorship – this goes hand in hand with the small size. If the company truly wants to develop you, they will provide executive level mentorship to guide you through your career path.
3) Exit option – many LDPs exit you at director level. This is opposed to a rotational program, in which exit option isn’t guaranteed.
Some of good LDPs I’ve come across:
• Sears – medium class size with mentorship and director level exit.
• Tenet – small class size (~4) with mentorship, hospital CEO within 5 years.
• HCA – small class size (~4) with mentorship, hospital CFO within 5 years.
• Nissan – small class size (~5) with mentorship, director level exit.
I’m really dislike large LDPs like GE’s ECLP. They rotate hundreds of ECLPs through the program. With only four 6-month rotations before exit, it’s really difficult to build strong network or skillsets. The network and career progression aren’t strong since there are so many ECLPs.
For me, there are a few qualities to a good LDP:
1) Small size – this ensure attention is paid to the program participants. Make sure “focus” is the reason for the small size, and not budgetary or other reason. It is better if there is only 1 LDP in the company (not 1 for finance, another for marketing, etc.).
2) Mentorship – this goes hand in hand with the small size. If the company truly wants to develop you, they will provide executive level mentorship to guide you through your career path.
3) Exit option – many LDPs exit you at director level. This is opposed to a rotational program, in which exit option isn’t guaranteed.
Some of good LDPs I’ve come across:
• Sears – medium class size with mentorship and director level exit.
• Tenet – small class size (~4) with mentorship, hospital CEO within 5 years.
• HCA – small class size (~4) with mentorship, hospital CFO within 5 years.
• Nissan – small class size (~5) with mentorship, director level exit.
I’m really dislike large LDPs like GE’s ECLP. They rotate hundreds of ECLPs through the program. With only four 6-month rotations before exit, it’s really difficult to build strong network or skillsets. The network and career progression aren’t strong since there are so many ECLPs.
09 Jun 2012, 07:39
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I agree with Asimov in terms of smaller sized programs are typically better for long term career opportunities. GE hires 100+ MBAs a year from a large variety of different schools. Where as some of the smaller less known LDP's hire 2-6 from only a handful of the top schools. Exit opportunities from the best programs will set you up for either director level or GM type roles within 4-5 years out of school. At which point you are more than doubling your income from when you started in the program.
Some companies will have different functional rotational programs such as finance, marketing, or generalized. It is not uncommon for companies to have multiple rotation programs available. When I was in school Chevron had I think 4 or 5 different ones. Big CPGs typically have both finance and marketing. Manufacturing companies tend to go with broad based programs where you might do finance for one rotation and marketing on another.
Midsized companies often offer much more exposure to the very top level management. I joined a midsized (4billion) publicly traded manufacturing company out of school and routinely met with C-level execs, was mentored by a corporate officer, flew on the company jet more often than commercial, and even presented to the board a few times. That would not have happened at a fortune 100 company. Privately held companies also offer some interesting opportunities, they have stable senior management and often manage for the long term so there are some great development opportunities available.
Some of the best places to join aren't as formally structured as the GE's of the world, and some don't even hire every year. There are some who will basically make a program for you if they see the value in it; it wont necessarily be a "development program" it will just be senior management purposefully rotating you through several different functions to get you prepared to advance.
Some companies will have different functional rotational programs such as finance, marketing, or generalized. It is not uncommon for companies to have multiple rotation programs available. When I was in school Chevron had I think 4 or 5 different ones. Big CPGs typically have both finance and marketing. Manufacturing companies tend to go with broad based programs where you might do finance for one rotation and marketing on another.
Midsized companies often offer much more exposure to the very top level management. I joined a midsized (4billion) publicly traded manufacturing company out of school and routinely met with C-level execs, was mentored by a corporate officer, flew on the company jet more often than commercial, and even presented to the board a few times. That would not have happened at a fortune 100 company. Privately held companies also offer some interesting opportunities, they have stable senior management and often manage for the long term so there are some great development opportunities available.
Some of the best places to join aren't as formally structured as the GE's of the world, and some don't even hire every year. There are some who will basically make a program for you if they see the value in it; it wont necessarily be a "development program" it will just be senior management purposefully rotating you through several different functions to get you prepared to advance.
