Are any of you considering consulting? Or did you in the past?
Any reason your interest ultimately lay more in banking (if it's in fact the case)? Did you know you wanted to do finance in the long term?
I work in Consulting at the moment - am moving to IB in a month.
Consulting is great - you get to contribute to strategic advice etc (as a junior you do a lot of the data mining/analysis); tangible skills you get are from understanding how the senior members of the firm actually come up with the advice for clients (comes from experience for them) - good learning experience.
Hours are easier (at least for me I know).
At a junior level skill set is different as a direct result of the client contact aspect - I get lots of client contact and so have to have good soft skills - I am not expecting this in IB until I am VP/Director.
My assessment is tainted a bit because I am working for an M&A and PMI focussed outfit, hence get involved in the deal process and the post deal advice. Much of the 'strategy' I see relates to M&A strategy - so similar to IB.
Don't know if any of the above helps or is relevant (but I am consultant right?)
From the ghetto....
Tier2Sta, congrats, I'm a management consultant going into IB next month. Sounds like your doing alot of strategic consulting within a top tier firm, which is exciting at times. As for me, consulting was not so great, I'm in the project management practice, although I'm the analytical person who does all the number crunching and strategic planning, I just feel overall environment around me is "content free"
I know consulting is not for me, I need more numbers and more data. Agree with you that the best thing I've learnt in consulting is relationship building and constant sales focus, which will add value at the VP level in IB.....
i get so annoyed with those consultants spending 3 weeks just prettying up the slide pack, and the strategy my client is buying only took us 3 hours...
i've been told that ib gives you broader exposure to businesses as a whole as opposed to consulting which is more narrow(?). Don't know if it's true though.. haven't done consulting.
Really? That's the exact opposite of what I've heard
i plan to go into consulting if I don't get into IB
if you think that by switching to banking you're going to be working strictly with numbers and have no more bullshit of making things look pretty then you are clearly mistaken
Agreed totally. Hence I said that the key difference is likely to be the extent of client contact.
Congrats on the move! I just have one question. Did you guys already have an MBA when you were consultants? Or did you get one after to transfer into IBanking. Thanks.
No MBA - am a qualified chartered accountant (trained with one of the Big 4). Switched to consulting after 3 years audit experience. Switching to IB after 1 year consulting.
is CA a canadian designation equivalent to the CPA?
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