| Topic Name: |
Hate Banking.. Want Consulting |
| Message Name: |
Re: amplification |
| Date Posted: |
09/10/2003 |
| In Reply To: |
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. |
| Message: |
2) At the analyst levels, both bankers and consulants will spend most of their time either sitting behind a desk staring at spreadsheets or powerpoints, or running errands for VPs/partners. From that perspective, the work is the same, even though the industries are different.
3) Travel time is work time. A consultant's billable hours may be less than a banker's hours in the office, but once you factor in airport delays, etc, it's about even. Basically, both industries work junior staff as hard as they can without actually killing them.
4) True.
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