IB/AM/Trading/Consulting
I was trying map out the pros and cons of careers in these four fields. However, I don't have any real world experience besides a brief consulting project, so I was hoping that people more familiar with the fields will pitch in. Here goes my attempt...
IB:
Pros: large bonuses, exit opps, best overall pay
Cons: hours, burn-out job
Consulting:
Pros: high paying early on, variety of work, travel (if single), travel points are nice.
Cons: travel (if married/in a relationship), pay curve isn't very steep, exits opps?, pay isn't very dependent on performance
Trading:
Pros: performance based pay, casual/little client interaction, less rigid corporate structure?,
Cons: more narrow exit opps, possibility of being replaced by algorithm trading?
AM: honestly don't have much on this one
Pros: exits to HF/PE, pay related to performance, buy side
Cons: strict progression schedule, CFA exam, tough to start on the buy side
Let me know what you guys think. I appreciate the input.
Consulting sounds great to me, and I thought I was IB.
I'd say that most consultants (even the single ones) would list travel as a con. You're not exactly hitting up Tahiti and staying at the Ritz. There's nothing fun about spending Mon - Thurs in Wyoming working out of the Holiday Inn because it's the only hotel in the area.
Would add rigid corporate culture / hierarchical nature to IB cons.
Also, the fact that trading is a shrinking industry is probably a con as well.
Agreed NorthSider. I think travel is overly romanticized and gets old fairly quickly, but I know a surprising number of people who love it so I thought I'd throw it in there. I was wondering if IB remains as structured once you get up the ladder a little bit? Does it still follow a rigid schedule?
By rigid schedule, do you mean working schedule or promotion schedule?
I meant promotion schedule
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