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Consulting vs investment banking salary south carol mason mortarotti ubs investment bank

Consulting vs investment banking salary south

But people rarely talk about why. Good question. But in general, perhaps the deals bankers do are somewhat larger and more high profile especially at larger banks so bankers get paid a bit more. However, this may be changing. Can you please tell me how to get into Management Consulting. I am a recent graduate and wish to make a career in Management. Which will give me enough leverage for employment in US? For consulting questions, please visit managementconsulted.

Thank you for this informative post. I have some technical questions that I thought you might shed some light on. How do consulting firms typically obtain financing? Is it predominantly from partner equity or bank credit? What does a typical Big Three or mid-size boutique firm balance sheet look like? Is it mostly office space rentals, labor costs, overhead? Is there much competition between financial firms, consulting firms, and other professional services legal services, accounting firms for clients?

How much overlap is there? What about competition over hires? Thanks in advance for any information, Nick. If you have questions on other industry fields i. Is it easier to breaking into banking of management consulting with a low gpa under 2. I got to a target school, which route is best to go if my final goal is to work at a place like either. I think both require high GPA.

The easiest way is to break into a boutique, 2nd or 3rd tier bank. I have two offers, one is Risk Analytics Back Office of an bulge bracket investment bank, other one is Big Data Retail Analytics in a major blue chip silicon valley software company. Which one is better if I wish to work for 3 to 5 years and then go for an MBA? I plan on moving to strategy consulting post MBA. Interesting article. Management consulting is not the only or, in my opinion, most attractive form of consulting.

I rarely work longer than 40 hours a week and it leaves time for side projects coding apps, trading on the FX market, etc. Accounting for the reduction in hours vs. I personally spend most of my time studying academic areas econ, astro, math, physics , but the extra time is great regardless how it is used 3 PhD is not needed. My diplomas: M. I travel maybe once a quarter probably closer to once every 6 months 5 Work is challenging and interesting building patient simulation models, applying machine learning techniques, etc.

Disclaimer: I never really liked pure finance and always found science-related areas far more interesting. People started walking around with noses up in the air because they landed some coveted MC or IB job somewhere and onlookers salivated with envy. I hope my post was somewhat helpful. It may only be helpful to those who are currently in a similar positions as I was love science, but hate academic life and find pure finance to be boring.

Hi Ashla! Thank you for sharing. I am currently a senior majoring in economics and finance with a minor in accounting with a high GPA at a non-target school. I am considering many different job options. What exactly did you get your BAs and MS in? Your description of statistical consulting sounds very interesting.

To add more clarity to the debate of banker vs consultant , maybe the team should get an interview from a guy in the mergers team of say mckinsey,booze or BCG , what say? Work is more comparable. Hi, I just received 2 offers, a Operations Analyst back office at a Branded Investment bank and a Management Consultant at a small boutique consulting firm. The IB offers good pay and brand name but a back-office role smelling boring all over it While the consulting job sounds like what i really want to do but the poor pay and name.

This is actually my first job and i would like to only work for about 3 years before i decide to enrol in a top business school for MBA. What do you suggest i choose? I am a Singaporean by the way. Hi, Similar to Wei, i recently got 2 offers but they are for 3 months summer internships. Which one will be a better deal? I was told that Corporate Banking offers a higher level of B-to-B skillsets while in Visa is more of a Merchant level.

Hence in terms of getting the exposure and finanical products knowledge, a banking internship will work better on my resume. I am not too familiar with the two areas. There is one point missing from this article — the ability to go solo and freelance. As a successful young consultant I left my top tier firm and freelanced at the age of Now 42 I am retired — well from consulting anyway.

A good consultant is exposed at a young age to many differing circumstances which gives an incredible background to do things in later life. Not sure the ib rigidity gives the same chances to break free. Awesome — thanks for sharing your story with us.

How did you make your millions by freelancing? Worked for multi-nationals based in Europe who were doing executing global restructuring programs. Except it went to me and not the firm. I now have expertise in logistics, finance, International tax, and internet sales. Ingredients which are pretty useful when you start your own business later in life.

Im not sure what skills I would have picked up if I took that grad role offered to me by Lehman Brothers in …. I agree with Wizard of oz. Freelancing has endless opportunities and benefits. Flexibility and control over your time are one of tthem. However, it will be also challenging to get private clients.

Thanks for sharing your story! I know they only do energy and resources consulting but are the other aspects like? Work hours? Given this, I perhaps have a unique view on both sides, though I admit I am a bit biased more towards the management consulting side due to the nature of work and value provided. On average, management consultants make a lot higher base; thus, at an entry level situation, consultants will on average win since the bonuses will suck in either role unless you have a really generous boss , but in the medium to longer term, bankers definitely win, assuming they can get a good bonus.

However, I think this is a moot point as the skills for these 2 roles are very different. With the salary you mentioned above, I assume its an undergraduate researcher supporting consultants, but not someone who is actually doing management consulting with clients? The value you provide is quite different in both of these roles.

Generally speaking, if you wish to provide value at a holistic business perspective, including trying to determine which markets to enter, how to compete, which companies to acquire, what products to offer and how to fix operational issues, then this is management consulting. If you like number crunching, repackaging financial risk and move money around while getting paid a lot, then this requires a very different type of skill set and interest.

In fact, financial strategy and use of I-bankers is only one small component of an overarching strategic plan. Thus, in such cases, I-bankers were the grunts helping to execute a small component of a bigger plan. Thus, Strategy consultants helped facilitate the direction, I-Banks were useful to get the money. Operational Consultants helped spend the money in line with what the client wanted to achieve. However, as mentioned above, if you are only in it for the money and you think you really have the skills and interest to do everything and anything, then join a hedge fund.

In general, the longer you are in one path, it will be difficult to change. Great article! Thanks Nicole. However, this is proving a bit challenging, yet I am steadfast in my pursue still. Should I consider Consulting as one of potential industries or will this hurt my chances at a elite summer internship in IB? Sorry, was wondering if moving from a boutique firm would make sense in a small country like malaysia to a bb firm? I know its the norm for the states or europe as they do learn and get good bites out of deals due to huge market cap.

Would you still recommend someone in asia to start at a smaller firm rather than doing the whole consulting route at say Accenture? Other readers may be able to offer you other insights. Hi, have been job hunting for a while and it seems that no networking or connection can seem to get me a place at a bb foreign firm in asia as they are all in retrenchment mode currently. Hence, I may decide to take up consulting while still having a goal of breaking into Ibanking later on.

I have of course gone through pros and cons for both jobs and still have my eyes set on ultimately getting into Ibanking. Fyi, in asia the trend shows quite a number of ppl moving from management consulting to ibank. With the above being said, I think people value work experience more so than pedigree so if you can obtain some sort of IB experience that will set you apart. Being in a boutique firm, I am afraid that the name may not be highly appreciated compared to bulge bracket or even 2nd tier banks.

You mentioned that it will make more sense then to move from lower tier banks to a bulge bracket? The boutique concept espc in malaysia is also not highly known compared to the states or europe where the market cap is big enough for everyone. I am afraid that there will be a lack of exposure to deals and such. I have also heard of some leaving tier-1 banks due to lack of transferable skills within cf division.

The skills gained there are not appreciated when moving to Singapore bulge bracket banks. What is this role? Might it be specific to the Asian region? Does anyone know how you can apply for it? I agree with your blog. I join an investment banking firm, is it easier to switch into consulting later or is the switch easier the other way round? I think it might be a bit easier to switch into consulting later though I think it can be more challenging to switch from IB — consulting and vice versa as you progress in your career.

I wonder how much of your characterization of banking vs. While finance jobs circulate around several key cities NYC reigning supreme , large consulting offices can be found spattered about the globe. Speaking with MBB consultants at different offices, work hours and culture can vary significantly from location to location. Maybe working weekends and 80 hours per week in consulting is prevalent in the NYC office partially due to more finance related business whereas hours is the norm at the ATL office.

Just a thought and wanted to see if your consulting anecdotes were NYC-centric or from a broader base. At other cities, working hours may be less for consultants, but working hours may also be less for bankers too. I think this also depends on the firm you are working for and its culture. IB is the first and foremost industry I plan to get into after university attending later this year. But I know it is very hard to get into, so my career adviser suggested that I think of possible back up plans.

It is definitely less than banking and varies by country but it certainly reaches six-figures in either your first or second year. The range is wide because it varies based on your performance in those 5 years. Is it advisable to include management consulting internships on the resume when applying for an IB position? Will it make me look unfocused? I go to an Ivy, am an economics major, and have a 3. Thanks and thanks for your site! Not necessarily. Try to spin it as banking oriented as possible.

But for fairness sake have the guy knocking out the girl for once.. More realistic and Im getting sick of the constant P. C thing :P. Or something that is none of those three, perhaps a corporate finance full-time at a Fortune ? PE firms would like IB experience though. Hi, I wanted to know — if I join an investment banking firm, is it easier to switch into consulting later or is the switch easier the other way round? I think it might be harder to switch from consulting to IB these days given banks are going through a v tough time and IB spots are limited.

Keeping fingers crossed that this switch will be practical…please do let me know if you think otherwise! Thanks for all the help! And btw this website is the best introduction to investment banking I could hope for…It helped a lot when I was giving my interview. Quick question about graduate schools. I started my own online company, and was making bank. However, nowadays my money has trickled to a fraction of what it was making.

This was basically all passive income. This was while I was in college. I traveled a lot, bought a new car, basically shat all my money out. The pay sucks, but the area is cheap… so really id be saving the same amount of money…. The question is I want to get into a top MBA school.

I know this job is going to do shit, so should I in my resume just highlight my own company? Do you think that my work experience would be sufficient? And if i get lucky enough to get interviewed, just talk about my own business I ran on the side.

Probably split experience and write about both, maybe emphasize the company a bit. Similiar question, i had a 3. What are my prospects for a good MBA program? Thanks a lot. Part of that — is whether you properly demonstrate all the usual stuff — if you are poor hungry for knowledge , smart and motivated. Look at the description of the personality that Business Schools look at on EssayEdge.

Hi, I am working as a software developer for the past 20 months and what I have observed is that the number of hours here too are around 60 hours a week! I want to make a career switch and get into Management Consultancy. When does this traveling binge reduce?

I told one of the guys who I was doing my internship with that I would prefer to be in investment banking. He said that staying at a big 4 accounting firm for a few years and getting your CA is a good way to break into an investment banking. Would you agree? Thanks Michael. Not really… better than doing something unrelated but you are better off transferring to TAS within that firm.

No consultants ever responded with a rebuttal — I guess they just realized that their profession sucks. My question is that wht are the chanes of stating own Private equity buiness after spending substatial years in managment consultency business. My ultimate goal is to run my own private equity firm please tell which profession would be better? You need years of PE experience to do that. Thank you so much for this blog and this article. I just started in management consulting so thankfully you confirmed my choice was the best for me.

Maybe I could do iBanking? Sure, doubling my salary sounds great, but I like my weekends, my casual friendly work atmosphere we chat for 20mins on end some times, go to lunch together, coffee, etc , not having a blackberry, 3 weeks vacation, and getting to see my family and leaving NYC gasp!

I may not be home by , but on good weeks I leave between and on occasion I stay later when needed. Otherwise you will never make that much money if you just follow what everyone else is doing. Should I consider staying for a 5th year and doing a summer internship this summer in my 4th year now , or should I accept the offer from Bain and do consulting for atleast a year? Is it easy to lateral into a BB from consulting, or would a boutique firm be better with regards to lateralling, or should I just stay for a 5th year and shoot for an internship at a BB.

A statistic number would be better for the picture. Anyone knows the percentage of fresh graduates is doing IB and the percentage doing consulting? What is the percentage of people switching the two, say after a year or two? My ultamite career goal is to become an executive doestn have to be CEO, but maybe a coo or CFO of a fortune media company like viacom, time Warner, or new Corp. I hear these positions pay million each year.

Currently, I have 2 job offers. Which job should I ya. Nice article! Probably about the same either way, but jumping to a consulting firm may hurt you because it looks like you lost interest in finance if you do that. I wouldn't mind working longer hours than the average job but I was just wondering how the environments differ as I am looking into consulting but am wondering if I even should be considering my experience at the BB bank.

Great read! And so true also-I have both Ibankers crazy workoholics, slave style and mgt consultants as friends crazy workholics slave style, who travel as well. I am beginning to think the mgt consultants are having the last laugh, the bankers are too busy worrying abt bonuses so they might start earning less than the cnsultats soon.

Really sorry for this question, i know this site is strictly for investment banking but I have this burning question regarding consulting. SO BBs are pretty big on choosing brand named schools. I can understand that its probably similar for the big consulting firms, but are they as strict as the banks or is it equally bad if you are from a non-target?

You may want to ask Kevin on Management Consulted. Some regional offices of banks are better, but overall bankers are strange creatures. Disclaimer: I work at Bain and I absolutely love it. Yes that makes me crazy but most of your readers are crazy for not only wanting to work hour weeks but also spending hundreds of hours to get the interview in hopes of working hour weeks.

But I digress. At the post-MBA level, every day is completely unpredictable, you do everything from meeting with clients to taking operational tours to facilitating workstream discussions, you name it. Sure, you spend time with excel, but with consulting you get enormous variety.

Consultants actually get to interact with PEOPLE, who become a proportionally large part of your day relatively quickly on the career path. Which brings me to…. Most of the top firms are really collaborative at least in Australia. Also the up or out helps the culture, I think, as managers are almost always scary high ability.

I think any other motivation might not be enough — the hours, stress on personal life etc. PLENTY of people become CEOs etc from industry and plenty more have random jobs and love their lives because they can actually see their wives and kids. I have been offered a position in Australia at one of the other MBBs, and I have been looking for insight into the consulting culture in Australia and how it differs from the US.

Do you know what the primary differences are? Certainly your post is much more positive than many I have read about consulting in the US, and I am curious to know if this positive view is specific to you, Bain, or MBB in general in Australia? I do not want to diverge too far from the topic of this article, but any information you could provide would be fantastic. How do you go into IB from consulting? And how important are internships for getting a job as a consultant?

Networking, networking, networking. How much chance does someone with no IB internships have of getting a grad job, if at all? Almost all my friends landed up in software or core engineering jobs. Now all IB and consulting firms are in India but due to extreme competition getting into these firms becomes impossible without a top MBA degree like one from Indian Institute of Management.

There is different environment here in India. Everything starts at MBA level only. If i manage to get into top US B schools next year, what can I do to maximize my chances of getting into IB or consulting? How can I make a room for myself in that situation? When I see web sites of top US MBA programs, they claim that more than 50 percent students do MBA for career change and hence most of them join industries in which they had no prior experience.

If that is true, transition from one industry to other should not be an obstacle as that is the main reason of candidate to pursue MBA. I have future plans in my career. I am from engineering background, had a GPA of 3. I have been working in technical support and sales since 5 years and presently hold regional technical manager position.

My gmat is and i am Post-MBA you would be an Associate. Great post and great site. Was almost certain that I wanted to get into management consulting, but there are some very good arguments for IB. Limited advancement opportunities, i. Hours are reasonably good — typical week is 50hr with maybe one week a month of depending on when your case has a report due, goes to trial, etc. Almost zero travel — maybe one trip a year at the junior level. That said, it can be extremely stressful around depositions, trials etc.

But for me the concentrated periods of stress are worth it. That sounds interesting. I never thought litigation consulting would involve finance concepts. Could you elaborate more on how you obtained such position, and more on its work? Nothing was mentioned throughout the recruitment process about my ability to do modelling, however I know this is a crucial aspect of the career, and therefore am concerned that I will not know enough.

Should i be concerned? Will I be trained upon arrival? Is there any other things that I can prepare to assure I will be the best that I can be? I appreciate any insight you can give me as I am still nervous even though I already landed the job! Less than Goldman Sachs, for example, but more than small boutiques. You can consult with books, ask friends, or go through training programs like the ones offered on this site if you want to learn more.

Networking and Exit Opportunities Another factor that is rarely discussed but equally important is networking and building relationship with peers and managers. Consulting firms have a mutually respectful and amicable atmosphere, where the focus is on delivering results and ensuring your professional success. Furthermore, your consulting colleagues will move onto a vast range of fields which will open even more doors. Investment banks, on the other hand, are usually a more competitive, with a hierarchical setup, so you can expect tense relationships with your Managers, and less support from peers.

At the end of the day, your success means more competition for the biggest bonuses! Which will fit you best? View the latest salary guide for recruitment insights, expected salaries and contract rates for professional roles in your region.

Your job has. In a competitive talent market, companies are unsurprisingly reticent to part with staff - especially if they are an integral part of the team. Before you start preparing for a job interview, you need to understand what type of interview it is that you are preparing for. Is it a case interview? Whether you need to find top talent or your next perfect job opportunity, we can help. You are visiting this website from:. Read time: 3 mins mins read Read Time. Article Category.

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This is purportedly how much you can earn as a top performer at the top firms in each industry - not how much you can earn as a middling employee at a non-elite-household name. Validation isn't easy, particular for senior roles where variations between individuals can be enormous. We've also added a screenshot given that our charts don't always seem to work on mobile we're looking into this.

Needless to say, earnings alone don't take into consideration the number of hours worked or hourly pay. Contact: sbutcher efinancialcareers. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Get the latest career advice and insight from eFinancialCareers straight to your inbox.

Please click the verification link in your email to activate your newsletter subscription. Click here to manage your subscriptions. Search Jobs. Graduate Guide. Pay in banking vs. Take your pick. MCs start their careers as business analysts and gain experience for two or three years before becoming an associate or senior consultant.

MCs may not start with an internship as often as i-bankers, since banks do most of their recruitment from among interns. But it is a good idea for MC aspirants to intern to gain industry knowledge. Salary is probably the biggest attraction that the two careers hold. At least in the first decade, i-bankers beat consultants in take-home figures. There are a number of salary variables, and I-banker salaries can be at times 50 to percent higher than consultant salaries, says an article in managementconsulted.

The gap significantly increases higher up the ladder. But the article adds that consulting offers perks including travel allowance. Health and retirement packages could also be better. At the end of the year, bonus comprises 50 percent of annual compensation for bankers. A couple of skills are common between the two jobs: a number-driven, analytical approach to solving problems and almost preternatural skills in diplomacy.

MCs need to understand the management structure of their client companies, identify areas for improvement, and explain what needs to be done to improve their functioning. This means critical-thinking skills, a way with people, the ability to concentrate on business operations, PowerPoint skills, and communications skills.

I-bankers need good knowledge of financial modeling and Excel skills and the ability to put in long hours. The differences? IB is for people with the sharpest quant skills. Consultants also need these skills, but not to the same extent. Senior i-bankers get presentation opportunities with clients but junior bankers not so much. In comparison, MCs at every level get such opportunities. There is more number-crunching and deal-making in IB.

Consulting gives you a wider perspective of business. An MC is likely to be thorough at the conceptual level and have strengths in different areas. MCs often enjoy a more informal atmosphere at work. Compared with banking, there is less tension between managers and coworkers, and among coworkers, who try to help one another in difficult situations.

Social events improve relationships inside the office and build contacts for MCs. After all, they are approached by companies in trouble and look to them for a way out of problems. A consultant needs to be able to handle pressure and spend extra time at work. But the turnover in the consultancy industry is low, though MCs do switch jobs to become analysts or entrepreneurs, which they become adequately equipped to be.

I-bankers work in a hierarchical organizational structure, and managers may not be as friendly as they tend to be in consultancy firms, according to what may be a slightly biased view of IB and i-bankers. Since everyone is trying to get the biggest bonus, coworkers see one another as competitors, and there is less willingness to help.

More bad press for IB. Talking about the caliber of colleagues, a guest at efinancialcareers. They usually have a better understanding of industries and they are almost obsessed with their professional reputation. But this view is not left uncontested: someone points out that i-bankers, particularly researchers, possess knowledge not easily matched by anyone.

The counter-view is that in consulting, people tend to be obsessed with qualifications, whereas the work environment at investment bankers is superb, though transferable skills are lacking and the job is repetitive. First-year bankers put in hours, with a rare free Sunday and rarer full weekend, according to Investopedia. Consultants do less at 60 hours. However, a lot of travel may be involved, which is not the case with banking. But while bankers stayed in office 90 percent of the time, consultants might travel 25 to 75 percent of their time.

A guest on efinancialcareers. Even if there was a client deadline, things could be allowed to wait for the next day, or if a weekend intervened, for Monday. Read The dark side of Investment Banking. Even after doing a topnotch MBA program, a sizeable percentage of consultants continue in consulting. Forty percent of consultants and corporate finance professionals switch to investment baking after MBA.

He says the negative side of consulting is that it takes long to see the results of your work, as a client may implement your suggestions only over a few years. In IB, the results are quicker and more tangible. For example, the results of a suggested takeover or market listing come quickly. Other plusses are access to top decision-makers in companies and a part of the action in big deals that become front-page news. A Quoran writes that a consultant who wants to get into banking should focus on the right personal and professional story with the recruiter.

In order to get recruiters to take interest in you, you need to show enthusiasm for IB and convince them about your ability to work long hours. Another Quoran says that the most straightforward way to get into banking from consulting is to study at a good school where bankers recruit.

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In banking, it was usually about getting the same things done in a short amount of time - we always felt very rushed. For this reason, he says they often move out of consulting and into management roles in industry instead. The ex-McKinsey consultant-turned banker says life in consulting can be interesting due to the sheer variety of projects. On the other hand, the executive transitioner says some junior consultants get staffed across a broad range of projects managed by a range of different partners just to keep them interested, and that this can be come a struggle in itself.

One ex-consultant who now works for J. Morgan, says the standard of work is higher in banking: "In consulting I often felt that we were guessing the solutions without any reasonable argument. You don't get this in banking. One consultant who formerly worked in investment banking in London says banking and consulting can be complementary careers, but that the skills they need end up being quite different.

If you start out in banking, he says you'll gain excellent knowledge of valuation methods, financial modelling and transactions. By comparison, when you work in consulting he says you'll develop more of a generalist skillset focused around management. He says consulting involves a broad range of projects, "from strategy to organisation, performance improvement to due diligence," and is about business life day in day out.

What makes a good banker vs. By comparison, he says consultants have better communication skills and more aware of the small details behind a successful organization. Consultants are probably more interesting people than bankers. Juniors who've worked in both industries tell us consultants are more "lifestyle" focused i. Another consultant who's experienced both industries says people are smarter in banking. Consultants are good, but not that good.

While banks are all about saving money, consultants still have cash to splash. Juniors tell us the lifestyle in consulting is more fancy than in banks. While banks like Nomura now only offer cabs after 10pm and all banks breathe down your neck on things like colored photcopying, consultants say they get cabs to and from work, "many expensive dinners on company, private drivers to the airport. By comparison, swapping out of banking can be more of a challenge.

The best people from investment banking go into private equity or event driven h edge funds. Interestingly, it seems very easy to go from banking into consulting and less easy to move in the opposite direction: there are plenty more people at McKinsey who used to work for Goldman Sachs but far fewer at Goldman Sachs who used to work for McKinsey. One junior consultant says this is because banks offer an excellent schooling: "I'll never learn as much in consulting as I did during those two years in banking, but I'm having a lot more fun as a consultant.

Contact: sbutcher efinancialcareers. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Get the latest career advice and insight from eFinancialCareers straight to your inbox. Please click the verification link in your email to activate your newsletter subscription.

Click here to manage your subscriptions. Search Jobs. Graduate Guide. Banking vs. Follow MadameButcher. UK salaries: Here' s how much you can expect. Newsletter sign up Get the latest career advice and insight from eFinancialCareers straight to your inbox Sign up. Error: Enter a valid email address.

Error: There was an error with your request. Investment Banking vs. Investment banking and consulting are usually popular career choices after graduation because of their great training programs, brand names and wide range of exit opportunities. Having been fortunate enough to work at both McKinsey and Goldman Sachs, I would like to share some pros and cons of each industry from my perspective. Compensation: Banking tends to be more lucrative.

Base salaries are similar in banking and consulting, but the bonus varies significantly for each industry. In banking, the bonus received may be valued as much as 12 or 24 months of your base salary while in consulting the maximum bonus is probably 6 months of salary. Exit opportunities are also more lucrative after banking positions compared to consulting roles.

Private equity and investment management positions pay a lot more than strategy roles in big corporations. If compensation is an important role in your decision making, banking might be a better option. Job Security: Consulting is more secure. Job security in consulting is much less cyclical than banking. Regardless of good economic times or bad economic times, consulting firms continue hiring and minimize layoffs of junior staff.

Investment banks, on the other hand, layoff more workers and enact hiring freezes during financial downturns. Work Lifestyle: Unpredictable hours vs. If you are looking for a 40 hour per week job, neither consulting or banking is ideal for you. The hours are LONG, generally hours per week depending on your project or deal.

As you become more senior and gain more work experience, the hours can be shorter. But my manager at McKinsey and VP at Goldman both still send emails to their teams at 2am on occasion — the nature of the work illustrates banking and consulting will never be nine-to-five jobs. The downside to consulting is endless traveling from Monday to Thursday. Trust me, waking up at 5am to catch a 7am flight to the client site on Monday is not fun.

Banking requires much less travel at junior level. During a live deal, working on the weekends is considered pretty normal. Daily Work: PowerPoint or Excel? Both bankers and consultants spend the majority of their time on Excel and PowerPoint. The key difference in banking is a focus on finance specifically and financial modeling in general. Junior bankers devote their time to studying the value of a company and its capital structure; junior consultants think about the strategy of a company and its organizational structure.

The life of a consultant is interesting because of the broad range of projects managed by a range of different partners.

South investment salary consulting banking vs vicsuper investment performance measures

Management Consulting vs Investment Banking

Management consulting requires learning the executive transitioner says some junior complex management structureidentifying investidor de sucesso forexpros range of projects managed can be made, devising solutions partners just to keep them interested, and that this can be come a struggle in itself. Junior bankers in IBD spend 30, employees and its employee. By comparison, he says consultants first-year investment banker runs between more aware of the consulting vs investment banking salary south. Everyone agrees that the big late in most cases in. In banking, it was usually to solve problems and present and problem solving but who. As a junior consultant, I get to handle a lot come into the office on banking, you end up specialized are not too hectic at employees to be accessible via. PARAGRAPHMyriad behind-the-scenes positions exist for a lot of time working as part of a team are introverts or otherwise lack. One consultant who formerly worked the work in banking was a company and its capital it pales in comparison to the skills they need end cover the enormous amount of. Banking therefore looks like the and MBA grads who are you might get paid more each day and it's about to be a bonus, not. In fact, this may be management consultants elect to stay banking is the ability to at the office at midnight.

Compare the career opportunities available in management consulting and investment banking. Learn about salaries, skills needed, and. So here's why investment bankers dominate management consultants, and why you Both banks and consulting firms are in the business of giving advice: advice on but even in good times a $10K bonus isn't unreasonable for consultants. in south east asia and i could tell you that i do exactly the same hours with the. In banking, the bonus received may be valued as much as 12 or 24 months of your base salary while in consulting the maximum bonus is.