FDM Academy

OHara13

No no problem, not at all. It's just I was thinking of asking you for tips about how to get a job in IT, etc and was wondering if you were a careers advisor or had had a lot of success in the industy?

You seem to be giving people quite a bit of advice that's all...

DukeOfEarl

OHara13 wrote: »

This doesn't seem like a very balanced discussion - seems like anyone who says anything positive gets attacked.

It doesn't seem like a very balanced contract from what I've read...

generosity

Well, a very close friend participated in their program and from his description this company was a total scam and he luckily got out because of faked illness. (Basically FDM claimed people who got ill during the three month training is valueless because they can't work like a slave and should be disposed like trush before sending to their "valuable" clients).

This thread seems unbalanced because it is so true. Occasionally FDM HRs will instruct some "current employees" to post threads to "moderate" opinions on the internet. People in FDM are so afraid to
speak out because there are just so many cases that someone gets fired and stuck with 20,000 debt(Yeah true, even if you are fired they can still charge you) because he complains about FDM in his Facebook. Honestly, it is true some people in FDM do get very good job offers but many of them can actually achieve the same without FDM. There are people from Oxford, Cambridge, IC etc who were tricked into FDM, working like slaves for FDM clients. In today's economic environment, even full time employees don't have a sense of security, "FDM consultants"? don't make me laugh. They are usually used as cheap labour by those clients who expect to bleed them white and can be disposed whenever they see fit.

OK you may still think getting 2 year experience in a blue-chip company is always valuable but does everyone get such a placement? The reality is there are just so many FDM consultants working for some dodgy online betting companies and that's even not the worst. Do you have a say on what kind of job you would like to do? Don't be naive. You are SOLD to FDM and the ransom is 20,000.

The reason this company can continue to operate is much contributed to its successful PR. It does attract very few high calibre graduates, those very few do get jobs from good companies(naturally) and this tricks others to think anyone joins will get the same. They also operate a dodgy "recommendation reward scheme" which means you can get a lot of money if you can trick other people to join FDM. (I know what you are thinking, yes, Pyramid Scheme). Honestly if you are a recruiter from 1st tier investment bank, do you really think a bartender/plumber/3rd class university dropout suddenly becomes employable by your company after FDM's magic training? Their sales pitch at phone interviews and assessment centres are astonishing but I do urge you to think again.

There are loads other problems some of which are mentioned before. Just to complement, the 2 year period is the time you actually work for FDM. So any gaps between placements do not count toward that time and people easily work 3 years or more for FDM, doing the hardest job, treated with the least respect but getting the lowest pay.

Personally I don't have any connection with FDM. I got the info from people who are/were in their program and also a former FDM HR, who quitted because of conscientiousness. I myself have gone through their recruitment gimmick. I know they are very hardcore on posts like this one and I do expect a flood of attacks from those "current employees". Believe or not, I think there should be someone who can tell the truth and at least provide a warning to those who are hopeful about FDM.

dizzyrascal

Thanks generosity for the above post.
Not just me then!

generosity

I really don't understand why such a company can exist for so long. Is UK supposed to be an honest country which is ruled by law? It seems that FDM also has incredible presence at graduate job sites like prospect, wikijobs and milkround with PR people bashing dissenters around. Their common trick is to let those innocent graduates who have doubts talk to their sales people face-to-face or on the phone. With their astonishing brain-washing skills, many eventually refuse to accept the truth and willingly fall into their cleverly contrived trap.

Give it another thought, FDM is actually very clever in that it takes full advantage of disappear and disappointment of current graduate job seekers. At some point, I myself felt deep desperation and FDM looked like a saviour at the first sight. But you know, job seeking is always a long process, just persevere you will eventually find one. I know this sounds like a trite but this is really how things work out. Anyway, Never ever sell yourself to FDM, you are much more grander than that.

DukeOfEarl

Thanks for your posts generosity.

generosity wrote: »

People in FDM are so afraid to
speak out because there are just so many cases that someone gets fired and stuck with 20,000 debt(Yeah true, even if you are fired they can still charge you) because he complains about FDM in his Facebook.

Really? That's crazy.

generosity

Yeah DukeOfEarl, this is very true. If you look closer at their contract, it even states they can fire you at will(i.e. without any reason).

There is just so much I can tell about the company. FDM charges its clients(especially those blue-chip companies) something like 48,000/year/consultant but only gives you 21,000. In this sense, FDM is worse than many loan shark agencies because they give you training which at most worths 2000 pounds but forces you to gain 27,000 profits every year for at least 2 years, if you don't, they can still send out loan sharks to recover 20,000. Well, the worst loan shark won't charge you 10 times the money!

The logic of the employer is I paid so much so what should I expect from you? When I say work like a slave I really mean it! That's why many consultants are only placed for 6-month at a time because that's the best length to exploit you but you won't die on the site. Many of consultants don't even dare to claim any overtime benefits because that can cause them sending back to FDM, which will make your FDM papas very angry and you know the consequences. Don't believe me? try to ask how much they pay their clients or do you have overtime benefits at interviews and enjoy those beautiful excuses.

The situation is much worse in FDM's oversea sites especially Hong Kong, Mainland China and Singapore where some consultants are not natives and not protected so well by the local law. During the training, FDM gives out wonderful promises but you can just get sent back after three months exploitation(if you are lucky enough to be placed) and stuck in a foreign country with restrictions to look for other jobs and 20,000 debts and beg FDM for another placement. At this point, you are actually ignored because they can't even place those new consultants, you are left to wait indefinitely in a strange place without any support.

Talking about the prospect after 2 years, I can't deny there are exceptional people who get full-time jobs with top IBs but it is definitely not common. FDM consultants are one-off labourers and because the agreement between FDM and their clients which states any company willing to employ you needs to pay FDM a large lump sum of ransom, I won't say your chances will get any better.

I'm just so angry that I almost signed their dodgy contract and sold the best time of my life. Thanks for all those friends I know who bravely and honestly dissuade me. I'm here to share my experiences and speak in place of these honest people.

danblukk

I'm not sure what to do now.

I have an asseement day in 2 days with FDM after finding them in my university jobs department but after reading some of the horror stories on here, I dont know what to do.

I live in London anyway so training and travelling wouldnt be a problem and the success stories I've read make it all sound so awesome.
I know if I go to the assessment day they are gonna make it all sound amazing and is the best thing since slice bread.

Do you not even get to specify where you would like to work, like in London for instance?

I'm really not sure what to do now

dizzyrascal

If you want to go along then do so with an open mind. A normal assessment centre will test your skills and only pick the best candidates. They will not sell the company to you but expect you to perform and sell yourself.
As a guide, at a genuine graduate scheme assessment centre,there should be 6-12 people at an assessment centre with only 1-2 candidates getting through. You will not be given a contract on the day or pressured to sign up without time to reflect.
If you feel that you are just being given the hard sell and it is not really an assessment centre then you will need to consider whether this is for you.
And no! You don't get the the chance to choose your location. You go where their contracts are.

dizzyrascal

Also ask yourself how you got the offer of an assessment centre. For most graduate recruitment schemes you will have had to jump through a lot of hoops to get this far. Getting as far as an assessment centre is a big achievement in itself for most graduates.