| Topic Name: |
Should I leave consulting for IB |
| Message Name: |
re: need advice |
| Date Posted: |
01/25/2001 |
| In Reply To: |
I am 24 and currently working for a top strategy/risk management consulting firm in NYC. The people are cool to work with, the pay is good ($86K), and I cant beat the hours/quality of life, plus I am in a position to advance quickly. My dilema is I have a job offer at an IB firm in London that starts soon. I will basically be starting over and entering as an analyst, taking a pay cut and doing what analysts do. Is it worth leaving my current job to pursue what in my mind I believe is what I should be doing? Would I be better off waiting till after an MBA to go into IB? Any help is appreciated.
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| Message: |
Hey,
If you plan to pursue investment banking as your permament career, then you should definitely work in banking prior to b-school. It is much more difficult to secure an associate position after b-school without any IB experience. The same follows for summer associate positions, which are probably even more competitive than fulltime positions.
If money ($86k) is an issue, you will earn more in your first year you tally in the bonus. All the money in the world, however, isn't enough to compensate you for some of the bullshit you have to deal with.
Quality of life is guaranteed to worsen for you can't leave at 8pm and weekend work will probably hit you pretty often. But if IB is what you truly want to do, the hours shouldn't even be a factor in your decision.
As for people, that evaluation is up to you. A potential risk, no matter where you go, is leaving your promising strategy job (with people who value you) and work for others who view you as a two-year contractor and couldn't care less about your career goals.
Incidentally, which firm and which group in London?
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