How to pick the right career for me.

Hi everyone,

I'm a UK-based student trying to just have a better semblance of what I'd like to do going foward into university. Of course, this is in an ideal world, where I have the option to choose. I'd like to explore two interests - in the fields of strategy consulting and investment banking - and decide which to prioritise.

Pros of Consulting > IB:

1. Enjoy the aspect of strategy, 'thinking on your feet', find it to be engaging work (More so than IB).

2. Aspect of travel (need to confirm frequency in London MBB) worldwide. While draining, it's interesting. May even get an opportunity to spend a weekend there etc., something I'd enjoy while I am younger.

3. It's less compensation than IB but still great compared to the average. Also, likely better WLB than IB (I do still acknowledge it can get late at times, but hear weekends are better protected).

4. Opportunity to make partner in McK very quickly (unsure on wider MBB). Heard of very fluid structures; not exactly set like IB (i.e. have to do 2-3 years as an analyst, move to Associate do 3yrs, etc....).

Cons of Consulting > IB:

1. Lower comp than IB.

2. Hours can still be long as prior mentioned, so makes you feel it's probably better to go into IB to get better compensated. Ties in with the first point, the main thing I'm strung up over.

3. MBB to PE is a less trodden path (should I want to leave for PE), but I guess the counter to this is you get to work with PE firms in MBB regardless. But overall, exits from IB I believe are better/easier than CO (VC, PE, HF, etc..).

4. Whilst I know of the idea in McKinsey of the relatively fluid structures and potential to get promoted fast, I don't know if this is the case elsewhere / might not be FULLY true. Would like to confirm this.

Any thoughts would be greatly appreciated.