asset management vs consulting (grad student getting out)

HI guys,

I’m a graduate student currently but am considering moving out of academia after my degree, which is in the near future!

The problem is that I have been so caught up in academia the past few years that I know an embarrassing amount on what other careers are out there. So, I’ve been doing a lot of catch up reading and I have a few ideas of what I might want to go for. I would to hear your thoughts and suggestions on them. Thanks in advance.

First, I am very drawn to careers in Asset Management / private equity / hedge funds. While I did not study finance or economics, I always had an interest in the market. (I started up my Scottrade account when I turned 18 and threw all the money I made working part time during high school into it. And I have been trading on there ever since.)

Academically, I’m a quantitative guy. I studied Physics in undergrad and am currently doing a DPhil in Physics at Oxford. The idea of using quantitative tools to steer investment decisions is an attractive one. That said, I am not sure if I would like to go into an especially quant heavy institution like DE Shaw/Two Sigma - it would seem like repeating college and grad school again. And also, from what I gather, I’m getting the notion that if one chooses to go down the quant-programming road it will be hard to get out and get on the asset management or private equity track. Is that a generally correct assumption?

Those things considered, I am leaning towards companies such as Bain Capital, Blackstone BAAM and, to an extent Goldman Sachs. I like that these companies are more well-rounded; they value the ability to program and do maths, but they don’t specialize in HFT where one’s ability to code is everything that matters. Again, if this isn’t correct, please let me know!

Last but not least, I want to consider consulting. I learned a lot about the company McKinsey recently when they came and held a drinks party for our scholarship program. I realize now that they are the best at what they do. I had the chance to speak with a few of their employees/consultants. It seems that one can learn tremendous amount about other industries and sectors working with them. I would love that, to learn about other industries and becoming more well-rounded. There, I would focus on high finances though.

I have two concerns with consulting. (1) The work-lifestyle does not seem sustainable. I’m reading only horror stories on here. (2) Will beginning a career in consulting help me develop and further my interests to move into asset management and private equity later on?