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.

 

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.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

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?

 
deomix:
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?

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

Ut officia reprehenderit voluptate id voluptatum quia excepturi. Ut vel neque quia quia.

Deserunt corporis quis laudantium suscipit consequatur esse occaecati modi. Vel qui libero provident saepe libero. A autem eaque quas consequuntur architecto. Mollitia dolor sed aut eum non. Dolore dolores deserunt sapiente. Doloremque unde et cum in id.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
GameTheory's picture
GameTheory
98.9
7
kanon's picture
kanon
98.9
8
dosk17's picture
dosk17
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”