Hi,
I have applied to B-School for 2019 enrollment. I am interested in either working in management consulting or IB. I noticed on managementconsulted.com that they published 2019 management consulting salaries and MBB post-MBA salaries shot up a decent amount.
Has anyone heard of anything like that happening in IB? If not, typically when this happens, does anyone know how long it takes for Wall Street to catch up to management consulting?
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Not guaranteed, obviously. But most, if not all, MM / BB / EB will pay an AS1 a 125k+ bonus (on top of 150k base) for mid bucket. Top bucket should be around 150k+ (300k all-in)
I remember looking at this couple years back and just checked again.
WSO’s own report says median of 225k all in for associate. 150 base and 75.
Way I thought it was IB top performer kills it but on average it’s not that differtent from consulting. But the no one plans on being the average...
butthurt consultant
People underrate consulting hours as well, in that your time spent away from home is actually rather high. Office hours are one thing, but being on the road or stuck in a random city isn't equivalent to having more time off work.
My friends who do it say the hours are 8AM - 10PM Monday through Thursday, 8AM - 6PM on Friday, and then random catchup work on Sunday as needed. So consulting has ~70+ hour work weeks. Better than banking, but not by much.
Factor in travel as necessary, and you get a life that's not too far off from banking with a little bit less pay.
If you end up doing DDs (not uncommon) hours are not far away from IB. Been there, done that.