Hi, just curious about one thing. A lot of people here talk about IB but it's never really clarified what this covers?I have been offered a position with the Fund Management department of one of the larger banks in the Nordic region. Would that classify as IB or is IB only related to M&A and corporate finance?If say,.. Fund Management and Private Banking is considered to be something else entirely then how does it compare in terms of prestige, pay and career possibilities?

IB usually covers things like M&A, ECM, DCM and Sales & Trading.Fund management and private banking etc. tend to be another part of the bank and aren't as prestigious or well paid but still very lucrative if you're good so don't let that put you off.

Plus, in fund management industry u work normal hours, let's say 40hrs a week for a pay which is on par, if not higher, than consultancy..

Any more views on the salaries? How would fund management at say,.. the equivalent of HSBC compare to being a Consultant at PA?All in all I have about 7 years of work experience as a consultant and the right certificates etc. to get in to a position with a Bank such as the one mentioned here.

All the above mentioned jobs will pay higher than consulting. There' not many financial services jobs that don't, even back office.Range in FM for a senior person would be salary of 60-130k plus bonus of i would guess 100-300% very roughly.Private banking, senior people (say 8 yrs+) are on about 250k all in.

Yep, all the major banks give u higher salary than consulting. The big difference is in the bonus, not in the base.. In IB u can earn bonus ranging from 100% to 300%, but it really much depends on the year. However, both mean and median bonus are higher..But this applies only to core IB sectors i.e. Investment Banking Dept and Global Markets and only for Tier-1 Banks and a few others..Private Banking and Asset Management are on a par at least with MBB.. However, in AM bonus can be sometimes pretty high..