| Topic Name: |
IB vs. McK |
| Message Name: |
why IB |
| Date Posted: |
03/07/2006 |
| In Reply To: |
1. It's more exciting but also more stressful, you work on multiple deals at the same time, and you work longer hours. In consulting you have weekends off - in I-Banking you don't. Never.
2. & 3. You should be able to join as a first year associate - especially in the current market environment. Apply directly to the large banks, but also try to go through a recruiting consultant such as Michael Page.
4. More than you make now. First year associate with an MBA is typically around USD 200,000 in NYC or London. Don't know if the same applies without an MBA but I would imagine it does not make a huge difference. Total compensation increases by around USD 50k per year. But don't forget that you will have to give up your life as you know it. If you stay at McK you can also make a lot of money 6 years from now.
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| Message: |
Can anyone tell me why anyone would really want to go into IB instead of a job at M/B/B. I guess if the money difference really matters that much then it's worth it but as I see it consulting offers more exciting opportunities (I like working with F500 company CEOs and changing projects every 3 to 4 months) and great pay. Plus if you stay a couple of years doesn't the money difference begin to be a wash? I guess this is the perspective that led me to be a consulting and not an Ibanker.
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