Hi,I don't know much about Strategy Consulting and Investment banking... Can somebody tell me if I am right or wrong or if I am missing something...?Strategy Consulting.KO:- travelling (actually I would like to travel for a few years...)- less money than in I-Banking.- difficult to measure the added value? have to convince people to implement the solution and deal with the politics...OK:- social skills, deal more with people and less with computer models. (less time in front of a computer)- less hours than in I-Banking?- free plane tickets...¿?Investment Banker.KO:- less social life ? social skills gone after some time? (I repeat I don't know what an IB does... I am just imagining somebody crunching numbers and modelling with excel and giving some presentations from time to time... writing to sell the project or whatever...-lots of time in front of a computer screen.- more methodic... easy... always the same?OK.- more money.. bonus.- fixed location-easier to get in (less picky about grades...?)- it is easier to deal with numbers than with people Is this any close to reality?I would like to do an MBA a few years from now so maybe would have to take into account that some Management Consulting firms may pay for my MBA if I am good enough¿?Otherwise would the higher pay at IB allow me to pay for the MBA myself?Am I missing something?

Most of your questions have already been asked and answered on this Board. Just keep reading.

Thanks Beng, I will continue reading older posts. :-) Sorry for the inconvenience...

The idea that IB was less selective about academic grades initially jumped out at me as a bit of an erroneous assumption, but thinking about it this is perhaps correct. I have a few friends in IB and can think of two who have quite poor A Levels and in one case a chequered university record too, but who got in nonetheless. Good picks by the recruiters though as both appear to be very good at the job.On the other hand, someone talks in a post above about getting into Accenture with BCCC.I think it is fair to say that entry to either can be very competitive though.

As someone who is just about to make the opposite move from IB into MC I can tell you that both routes are equally competitive if you want to work for a reputable organisation with decent earnings potential.Although my current thinking can arguably be accused of bias (given my career move), I would highlight the fact that although my motivation to exit IB are too complex to summarise here, IB is an industry which has had a lot of the 'fun' sucked out of it over the last 8 years due to increasing regulations and benchmarking as a way of mitigating the ever growing litigation risks. The net effect of this..... a lot of my friends (sadly myself included) never earned the mega bucks that are often assumed to exist in all levels of IB (we did more than ok though), and following my move in MC I have much more 'fun' in my work and earn significantly more to boot. My advice think hard about your motivations for either industry because neither will be forgiving if they view you as only looking to passport yourself somewhere else.

DT,Can you expand on these?What level are you at? How many years experience? And what is the take home you are currently on?What might not be mega bucks to you in IB might be some serious dough to us in consulting I think.Your response will also contribute to our long-term debate on pay difference between IB and consulting.Cheers.

John,I am a recruiter who specialises in taking people out of IB and placing them in consultancies. On the whole for people with 3-8 years experience, I have found that IB and Consultancies pay a similar amount in terms of base salaries, the area that there is considerable difference is bonuses, where IB pay significantly more. At the very junior and very senior ends of the spectrum (ie less than 3 years and more than 10 years) IB pay more in terms of base and bonus.However at the senior end of consulting, if you have the ability to sell consulting assignments, Consultancies will pay through the nose to get you.

Thanks, Mike.

Mike, one more request.What is the highest package you have ever come across that was offered to a consultant with the ability to sell assignments?

On the whole a Principal (one level beneath Partner) I have seen offers of £120-130k Basic plus upto 30-50% Bonus. Once you have started selling assignments regularly at £1million plus you will probably be going for a Partner level position, where, depending on the size of the company salaries can range from £150k - £500k+.If you give me a call on 0845 862 0150 I can talk you through who are recruiting at the moment, and what they would pay for your skills. Alternitivley e-mail me your cv to mike@druidib.com and I will get in touch

Thanks, Mike.I am currently very happy with my firm (CapG) but I have noted down your details just in case.The figures you gave above, are those the highest you ever came across?And are the 150K-500K+ figures you referred to for partners the base salaries? or includes bonuses?

That is the base for the PartnersYes that is the highest that I have seen, and I work with most of the Uk consulting companies that supply into IB

Mike,How much do you make then?Cheers

Thanks, Mike.I don't know how you will respond to the type of question above.Shocking.

Not enough - and its rude to ask.

Mike, do you put junior consultants (~18 months experience) in investment banking positions, either as investment bankers and/or as internal consultants?

No - we only work with Consultancies

"Not enough - and its rude to ask."Now let's not be pompous. If you wish to frequent the board - i.e., hang with the big boys...we need to know your calibre. I'm on £149k....u?

Big man in the forum, little man in the showers.

I make £200K per year.