Realized during my investment banking internship, that I can't really cope with the hours that well, and that I NEED WEEKENDS OFF. Since I have a few interviews scheduled I wanted to inform myself about the potential downsides of Consulting compared to IB. Here are the ones I know.
- Pay, I heard from friends at my target that consulting pay is ~30% lower than M&A
- Exit opps, so that's interesting. I know that I don't want to join the corporate world. The only exit I'm interested in is the buy-side (PE/growth equity/private debt). However, only because I heard I could make more money than in m&a for fewer hours. Is this true?
- How is the long term consulting life vs e.g. IB MD? One of the firms I have an interview with is crazy with keeping their consultants until they make partner. Furthermore, due to their small size, the consultants do a lot of international travel? I didn't get to travel a lot, so this sounds like a big perk. But, I imagine this can be stressful with a family