UK Finance/Consulting - either you earn tons or little to nothing?
I'm an undergrad (Finance) at a target in the UK and at a point where I have to seriously think about where I want to start my career and what priorities I want to have. I have great respect for everyone who makes it through 80-100h weeks in IB and 70-80h weeks in consulting but even though the work sounds incredibly interesting, that's not the lifestyle that I wish for myself. So I have set myself the challenging tasks of finding a job where I can make the most out of 50-60h in a typical week at 60-70h, maybe rarely 80h, in harder weeks and peaks.
Being originally from Germany, I noticed something odd in the UK. I feel like for graduate positions, there are two extremes: IB or consulting for £70k+ all-in or £25-35k all-in for "regular graduate positions". I don't really see many jobs that are in-between in terms of salary, and if there are any, then they are just discount versions of IB/consulting (e.g.
Another example of the lower end extreme are the Big 4: there are graduate roles that pay just shy of £30k in London and on LinkedIn there are people from LSE/UCL/ICL doing them even though honestly, if you add up rent and cost of living that their parents have paid for a year in London, they come out below (!) their take-home pay at the Big 4. For putting yourselves through three years at some of the most prestigious unis in the world.
What roles/industries/areas of finance and consulting are there that pay, say, £45k per year where you work 50-60h? The only ones that I found were in Asset Management but I honestly see a big risk of automation in that sector. Also, I think it's difficult to start at a company where you can build a great career and that you are likely to be capped by your education (i.e. not having a PhD for earn the big bucks).