Just an undergrad here looking for career guidance. Could anyone shed some light on which has the highest mid-career pay, and which is the most intellectually stimulating/rewarding? My general idea is that PE pays the most, consulting is probably the most intellectually challenging.
I'm trying to figure out what to do with my career, because on one hand financial compensation is important, but on the other hand so is being fully satisfied with the role.
Anyone have an idea on what I should trend towards?
I think banking gives the most options. Throw market related roles like AM and Hedge Funds into the mix since you're looking for something intellectually stimulating, MBB doesn't really have established exits other than corporate strategy and it usually makes it harder to get finance positions.
I was thinking do my 2 years as an analyst at a BB, get into a top MBA, then I'd have a better idea of what I want to do and could exit out to any of the three. Would you say that's a reasonable approach?
Well if you don't want to be a glorified salesperson with a fancy title you're in the wrong place... this is awkward...
Lol, perhaps that came off the wrong way. What I meant was that I'd like to be doing something analytical once I've reach the upper reaches of my career, where I make meaningful decisions based off the information I receive. I don't know too much about what MDs in IB, or partners at MBB exactly do, outside of a lot of client relation work it seems.
I would say sales and analysis are not mutually exclusive. My MD and I do a ton of capital structure and financial impact analysis when prepping for a client meeting, and he does a ton or extra homework on top of that, but ultimately we only gereate revenue if he can pitch the client successfully on the product(s) and out ability to deliver on them. I would the amount of analysis you do goes up from mid-career where you are focusing more on execution and project management.
If you're honestly looking for career guidance, try to align your individual strengths to an industry/role that you personally find interesting.
Focusing solely on pay or prestige ("I don't want to settle for anything beneath the top firms...") will only cause frustration and resentment in the long-run.
don't think you know enough about anything - making broad, ridiculous statements.
almost every single job at the top is a sales job.
CEO - selling your company to the world MD - selling bank services PE Partner - raising funds (selling), sourcing deals (networking) etc., etc.,
..
Fair enough, that's a pretty good way to look at things. I'd like to think my ability to convince is pretty strong, pitching things just doesn't appeal to me as much as doing something more analytical. Guess the only way I'm gonna steer clear of "sales" is by becoming a quant or turning down promotions and staying an associate for the rest of my life, lol.
interpaperhammer , you're right, I do not know enough about the average work of an upper-level position. That's why I'm here, to learn from people with experience like yours.
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