For Ambitious Grads, investment banking and management consulting represent careers that provide opportunities to earn a lot of money right out of school, often with only a bachelor’s degree.
Investment banking and management consulting are like Quinoa and Guacamole (made with avocados). They both attract the elite, they both pay well, and they both involve some serious time commitments / academic achievements. So… which is right career for you?
Do You Want the Weekends Off? Choose Consulting
Most consultants agreed that they have a better life than bankers. The major difference is weekends. Most consulting firms treat the weekend like a sacred holiday. It is super rare to get a work email during that time. With that said, this shouldn’t imply that hours in consulting are not hard as well; but leaving at 11pm is really late in most cases in consulting. A survey showed that weekend work is often needed just to catch up in consulting.
Do You Want to Travel Less? Choose Banking
If you were a junior banker, the most travelling you’ll do is from your home to your office. Now if you are in senior position, then you will travel more..but still not as much as consulting. Being a consultant however, you start traveling immediately. Most firms require you to be on the client’s site from Monday through Thursday, and in the office on Friday. If the client isn’t close by, your weeknights will consist of many hotel rooms.
Want a $100K+ job in i-banking or tech?
Check out: “The Ultimate Guide to Wall Street & Silicon Valley Careers” with all you need to know about getting and keeping one of these jobs.