Fresh graduates often wonder whether investment banking or management consulting is a much better career choice. Many of them already know the first thing about these two career pathways: excellent incomes. Some of them also know that work-life balance is a hard action in both. Here we go a little beyond popular perceptions to discover what these jobs really involve. First, just a little about both careers and sectors.
Investment banking (IB) denotes a financial service that creates capital for individuals and organizations, relating to one definition. Investment bankers (i-bankers, or just “bankers”) give traders counsel on market strategies that can minimize their risks and maximize their returns. They provide assistance for mergers, acquisitions, and restructuring. Risk management is a major area of the i-banker job.
A management consultant (MC) provides expert advice to businesses on operations, restructuring, and cost decrease. They are called upon to create strategies to help companies make a turnaround. They look at what their customer companies have been doing and suggest what they can do to perform better. MCs deal with different kinds of problems and, for example, may be called upon to suggest to a marketing team how to improve its product delivery or recommend HR people how to make a new health plan for employees.
I-bankers focus on a summer months internship, followed by an access role as a financial analyst for two years, then, as an associate for two or 3 years, elevation as managing director or VP before. MCs start their …