Presenting to you a case study:I am a consultant in one of the tier-1 firms, with 4 yrs of relevant experience and expect to make about 100K in total comp in 2008. Just met a friend from school from lunch, who chose a career in finance. He does credit structuring now. End of 2008, he will safely make 250K, possibly much more. He is one of the lower paid bankers from my class. I do not even know how much do my friends in GSachs hedge fund or proc trading make.The point is - that kind of salary differential is diffcult to digest. Cannot explain a 2x / 3x salary through capability issues. Instead of pondering over where it went all wrong - let me ask, how can I move to a bank to make more money?Other than research (cannot be a report writer) or IBD (hours are killing there), which roles in a bank can a consultant aspire to get in? I understnad PE is an option - but let this question reside on - possible paths from consulting to Ibanking....

I'm on the same boat but big 4. I've just re-applied for banking/brokerage grad schemes.However with your experience you may be better to go for an MBA and come in as associate hire. Fairly plausible move.

Will like to avoid an MBA for the present - have spent 2 yrs behind a post grad business degree and besides other things, I do not have the money right now. Is is possible to move directly to a bank? Any examples and guidances?

Yeah but i think it depends on the nature of the skills you've picked up studying/consulting. Things like due dilligence, financial modelling, valuation skills etc. will be in demand whereas process flows and org charts probably aren't.Also it depends what you want to do? M&A and PE are very different to say, Derivatives Sales which is in turn very different to Equity Capital Markets.

I have worked primarily on strategy projects. Have done financial modeling while developing entry/market strategies and working on due-dilligence projects. However, the objetives of a consultant's model is different to that of an equity analyst's model. A consultant would try to generate a high level business case, while an equity anlayst will need to predict share prices and hence his model will need to be that much more theoratically rigorous. About my interest in banks: I am trying to understand, where can I fit in without an MBA - if at all. That way, I can start researching about the roles and can work towards developing such skill sets.

The fact that you care so much about money is odd to me, the fact that you care this much about money and yet didn't join a bank is even odder. Everyone I know at my Firm could have made more elsewhere (IB or otherwise) but chose not to largely because they wanted to enjoy what they do. Nevertheless, here's some advice. You need to be really sure that you can hack doing the same bond-structuring all day every day if you fancy an easy life at a bank while earning a bucket load.I'm pretty sure all MBB Firms will pay for you to do an MBA (at least the two I have direct experience of will do). Why don't you take the cash, do an MBA and then try and find yourself a banking/PE job while their - you'll have to pay back your company, but that should be pretty insigificant compared to your future earnings and if you can't find the PE job then it'll all be fine.If that doesn't work, then surely you have a network - your friends at banks, alumni of your firm, current members of the firm who are ex-bankers. Surely by speaking to some of these people (or their bosses) you can find out what's possible and where you might fit in. No one else is going to find the job for you.

Here is why;As long as I did not need the money - I did not miss it so much. Now that I need the money - I really wish I had it. :-)I really appreciate your help and advice here. Very logical and correct reasoning - just that not entirely applicable in my present situation. Some more thoughts from my side, and some of it I believe will apply to other consultants also.... I like what I do and I have done reasonably well. At the same time, I am a numbers oriented guy - relatively more comfortable with equations and numbers than with 2020 visions. I have never tried to do structuring in a bank. The question I ask myself is - the work does not sound bad, looks like it will play into my strengths - how can I possibly justify not chasing the money? MBA is definitely a great advice. I cannot pursue it now - as I need to continue to earn. Also, wihle I understand that MBA multiplies the chances, will it be able to help if there is no chance at all? If there is no way I will get into a structuring role now - can an MBA help that much? For PE - I do not need an MBA. I do not want to go into IBD, research or sales. Should I do an MBA at all?I am trying to find ex-consultants on this forum - and seeking advice from them.

MBB,Which two MBBB firms are those that would pay for an MBA? I'm considering joining one of them as an experienced hire (probably at Manager level) - would they pay for an Exec MBA for me?

poor poor me - Perhaps you've been too busy building business models to notice but this may not be the best time to move into the banking sector.

He does credit structuring now. .......He might find himself on the dole soon!