Lifestyle as a Big 4 Consultant working in London
So I'm about to start applications for summer internships. Right now I'm deciding between focusing on IB or Consulting. Even though I'm at a target and got a first, I don't think I'd be able to get an MBB offer and perhaps not even an offer from a strategy house, but I could have a good shot at the Big 4. The only thing really stopping me is the salary. I'd enjoy the work a lot more than IB but I feel like being on 30k in London is pretty shit. I'm tempted to slave away in IB then move to consulting just so that i have good money from the get go. My aim is to have a decent level of financial freedom as soon as I leave uni, and Im not sure if that kind of salary actually allows for it.
So for the people who worked at the Big 4 consulting arms, what was your lifestyle like? Could you afford your own place in a decent location or did you have to share a flat? Were you happy with the money you were making relative the amount of hours you had to put in? Also where did you end up going after the Big 4 because I'd be intrigued to hear the exit opps in london.
Cheers
B4 strategy consulting arms pay more like ~£45k in London, not 30k
Even in your first year?
S& and EYP do. The B4 'consulting' divisions that aren't part of the strategy arms don't pay this.
FYI when you say you don't think you'll be able to get an offer from a strategy house - B4 consulting arms (S&, EYP) are no easier to get into than these.
Got it, I was more referring to the consulting divisions that are not part of the strategy arm which is why I was confused. Would I be right in thinking that those divisions would be more likely to pay around 30k?
Yeah around 30k for the consulting divisions - you earn around the same as the graduates in tax/audit etc... (I think at EY base for consulting is 32k vs 30k for audit)
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