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    I know that you can expect to earn a lot more in IB, but what are some of the non-pecuniary benefits of going into strat consulting etc. IB interested me for a while but I don't want it to consume my life, so i've decided consultancy might be a better career path? Anyone with experience got any advice?
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    http://managementconsulted.com/consu...tment-banking/

    tldr: IB is better paid, longer hours. Consulting is less hours, but often away from home monday-thurs.
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    Better working hours I'd think. I have no clue though, I'm posting to subscribe to the thread.
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    well unlike IB's, in a management consultancy.... it is more challenging and different with every client...

    apart from that you gain a very good insight in to how business's actually work and sustain....which makes MC's a hotspot for future CEO's.
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    (Original post by Mrcontroversy)
    well unlike IB's, in a management consultancy.... it is more challenging and different with every client...
    Prepare to be flamed
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    (Original post by Smtn)
    Prepare to be flamed
    lol..do you work for a IB/consultancy?
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    (Original post by Smtn)
    http://managementconsulted.com/consu...tment-banking/

    tldr: IB is better paid, longer hours. Consulting is less hours, but often away from home monday-thurs.
    Thanks for the link!
    I think consultancy is a better option for me...
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    (Original post by Mrcontroversy)
    lol..do you work for a IB/consultancy?
    I don't work atm, but consultancy. I'm just saying IB'ers will take issue with your post
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    (Original post by Smtn)
    I don't work atm, but consultancy. I'm just saying IB'ers will take issue with your post
    you are right they would but just being realistic with OP

    so whats your background?
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    (Original post by Mrcontroversy)
    you are right they would but just being realistic with OP

    so whats your background?
    bsc-msc (+ internship in DB ops)-consulting job-quit
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    (Original post by Smtn)
    bsc-msc (+ internship in DB ops)-consulting job-quit
    what happens after QUIT?
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    (Original post by Mrcontroversy)
    what happens after QUIT?
    I get another job, but lets not derail this thread any further eh?
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    (Original post by Smtn)
    I get another job, but lets not derail this thread any further eh?
    sorry... :lol:
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    Money is the only IB's benefit over consulting I can think of (even though very, VERY tempting).

    Benefits of consulting (personally for me of course): the nature of work (Im just more interested in this area and think I would enjoy this job more than IB), the skillset you get (esp those who want to be entrepreneurers one day-like me!), great exit options (esp if I'll move back to my homecountry). Besides, I dont want a job that would be too mathy/technical, I think Im v.good with people and I could progress in such type of job a lot quicker than in IB...

    And about the money...Yes, in the first years you'll prob earn less than you would in IB, but consulting pays well anyway and I believe you wouldn't feel the shortage of money anyway. And then all depends on you and where your "talents" and motivation leads you: you can be average joe in IB or progress fast in consulting and earn more than you would in IB. This is what Im trying to do as well: to see a bigger picture, longer-term, and TRY not to chase the bigger cheque (bigger, but not a LOT bigger, so not worth it).

    EDIT

    Dont just compare the numbers in paychecks. Some v.important things can not be bought (like having a job you love or like at least, it may not seem very important now but you will understand it later on) and just think what is more important to you (if the difference in salaries is worth it: valuate the benefits ). G. luck!
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    A few points, bearing in mind that much of what I'm saying is from MBB and may not apply at every consulting firm.

    1. First off, I would dispute the financial points many are making here. If money's your object, you can probably make as much if not more in lifetime earnings from joining a top consulting firm than an IB as a grad. Many people jump straight from a 2-year MBB program into private equity, for instance - not something you can routinely do from an IB.

    Of course, in the first few years IB wins on money hands-down.

    2. Hours are better, but travel may negate those benefits. It's not so great finishing work a few hours' earlier if you're based in Grimsby Mon-Thurs. Potentially a major problem if you have wife and esp. kids, which most of the analysts don't but many post-MBAs do. Having said that, depending on firm, you can angle yourself into a position where you rarely have to leave London if you're smart about it.

    3. Exit options are far more flexible. If you don't know 100% what you want to do for the next 50 years in life, this is a bonus. People leave MBB after 2 years to become diplomats, join NGOs, as well as the obvious Fortune 500 management jobs, startups, and of course those who go into finance. You're certainly not restricted in life if you join an IB, but it's hard to argue you have the same diversity of exit options as consulting. 90% of people who join aren't there in 10 years, so it's a big thing to think about.

    4. Undoubtedly more variety in the work in consulting - in location, industry, and the type of work you're doing. If you're a little ADD then this can be beneficial. It's also one of the reasons why consulting opens up so many management positions - very few jobs give you that cross-function (and indeed cross-industry) insight so early on.
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    Consulting possibly develops you as a (good) person moreso.
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    Depends what you mean by IB? If you mean IB in a generic term, then surely Trading has better comp and better hours than consultancy? Whilst M&A has better comp and worse hours.

    Also, isn't M&A the more routine route to PE than MBB?
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    Retro BB. Girls love retro these days I hear.
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    (Original post by uthinkilltellu)
    Retro BB. Girls love retro these days I hear.
    Can you type in proper English please? It makes it easier for everyone

    Thanks.
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    (Original post by i_hate_teeth)
    Can you type in proper English please? It makes it easier for everyone

    Thanks.
    You have no chance if you don't know what BB stands for, but you are forgiven for missing out on the in-joke. Too few of us on here nowadays.
 
 
 
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