| Topic Name: |
Hate Banking.. Want Consulting |
| Message Name: |
this deserves amplification |
| Date Posted: |
09/06/2003 |
| In Reply To: |
I can understand someone *preferring* consulting to banking. But if you *hated* banking, you will not enjoy consulting. You will be working with the same sort of people doing similar work, at least at the junior levels. There's less travel in banking, but the hours in consulting are as long, the pay at junior levels is about equal. It is no less competitive in consulting than in banking. Networking helps in all industries. Some will reimburse an MBA, some won't, it really depends on the individual circumstances.
Seriously, if you really hated banking, get out of this business altogether and do something different. |
| Message: |
Advizor's answer ("if you hate banking you'll hate consulting") is true, but the supporting details should be clarified:
1) You will be working with similar sorts of people: driven, type-A, overachieving, impatient, etc.
2) Banking and consulting do vastly different work. Reread the vault "intro to" guides for more.
3) Total pay at the junior levels is better in banking... slightly, but hour-for-hour, consulting wins. That's b/c bankers do work longer. A consulting firm calls the manager to ask what's going on after 70 hrs/wk. Bankers routinely pull 100-hr wks.
4) Travel is totally dependent. A banker doing roadshows will be on the road more often than a consultant working in his hometown. But consultants may end up spending months at the Butte Montana Lumber Company.
Both banking and consulting are apprenticeship programs. If you don't want to be an apprentice to the senior partners, it's better to leave.
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