Why are less people going to IB compared to Consulting after MBA?

I'm seeing the employment report from various schools and Consulting its the biggest recruiter follow by finance- IB. Is this because its easier to get into consulting-strategy vs finance? or is the bad rep of wlb and burn out?

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Consulting attracts a much larger umbrella of people from all different backgrounds while IB has a self-selection of people that want to be in finance. Best example is looking at vets, they recruit for consulting in droves but only a handful look at IB. There's this view that consulting is an amorphous field that anyone intelligent can succeed in, but IB is only for quantitative types. Plus, people from non-finance backgrounds just don't understand bonuses so they think comp is similar (seriously they only look at salaries). There's also a campus view that WLB is dramatically better in consulting. Lastly, most consulting kids have no idea what they really want to do and believe it is a better spot for exit opps whereas IB will restrict you to finance opps. It's just another way of keeping optionality open for them. Not saying any of this is definitely true one way or another, just perceptions you hear a lot. 


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