Consulting comp > IB? Nordics

Hello,

I'm a student in the Nordics and my impression is that -- for analyst roles -- a management consulting base compensation exceeds that for IB by a fair amount, and when taking bonuses into account total comp is roughly the same. Avg hours seem to be 50 contra 70. Can anyone confirm or dismiss this? Is comp development more rapid in IB? And is it then unique for the Nordics? Does not seem to be the case in the UK or the US.

Comments (2)

 
Jan 7, 2021 - 8:09am

I'd say it depends on respective firm, and possibly Nordic country. I can offer perspective on Sweden. Top consulting firms (MBB + potentially some others) pay well and better compared to the local banks, both the full-service banks and the pure investment banks. (Although one data point says NDA pays very well in Finland, supposedly almost 2x what they pay analysts in Sweden)

Local boutique bank salaries com in a wide range, with some potentially coming close to AN1 salaries in London.

The local BB/EB offices pay London salaries, I believe. A contact at Lazard claimed to work ~50-60hrs and get paid London salary.

MBB, RB and others pay well with probably better WLB than the banks.

Big 4 pay is pretty low.

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