Industry versus consulting
I am a current M7 second year MBA and have offers from my target sector in strategy and another offer from a consultancy that I am trying to decide between.
The industry offer is just over six figures and with a small signing bonus (~$10k) (both are under my MBA programs average benchmarks). Additionally it has a small annual bonus (5%) With that said it is with one of the top four companies in my target sector and offers significant leadership exposure within the company. Also seems to have better work-life balance.
The consulting offer is with a medium sized consulting firm with a significant strength in my target sector, particularly in Europe, but getting more well known in the U.S. The salary is significantly more ~$130k and the bonus is as well ($25-30k), with an annual bonus between 25-30% of base based on performance.
Eventually, I want to move into industry in corporate strategy / business development, so I would lean towards the industry role, but the total comp is sizable in difference and I will have over $100k in student loans by the time I finish my MBA.
Has anyone made a similar decision? Is it worth taking the hit now?