Benefits: IBD vs. Consulting

Hi Monkeys,

This thread is about non-comp benefits. When browsing Glassdoor's benefits section and comparing firms, I noticed that the MBB consulting firms have significantly better benefits packages than GS/MS/JPM (and other BBs). It's two different worlds.

At consulting firms you get free healthcare/dental/vision for you and your family without significant deductibles, tons of other insurance (LTD, accident, travel ,etc.), immediately vesting employer contributions of 8-12% of total comp into your 401k (w/o employee contribution required), free food/drinks in the office, etc.

At banks you pay for all your insurance, there are high deductibles, and the coverage is much less favorable (e.g. restricted to in-network providers). The 401k contributions are minimal and banks generally only match; some BBs don't contribute at all if you're making IBD salary.

I am aware that banks pay more $$$, but why not use some of that $$$ to make the experience more enjoyable for everyone? Not trying to provoke, just being curious ;-)

Best, A Monkey