Any thoughts on changing career from banking to consulting in Toronto? I've always been in banking for over a decade in credit analysis area, and found it's pretty challenging to move up the corporate ladder to a Director role at this point, which limits my total comp to ~$200k only. Seems to me that in consulting it's pretty standard to get my ideal comp ($250k to $300k). Is this career change possible/make sense? How difficult it is? What should I expect?Appreciate any thoughts or experience!

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How much do you wanna work? If you wanna maintain WLB, dont do it

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Appreciate your sharing and ideas! Your hours indeed sound crazy to me, especially considering travel time is not included yet... Sounds like equivalent to investment banking hours already. Kudos to you to be able to thrive in consulting! 👍

Money is definitely not the only factor to consider for my career choices, but very honestly it's one of the top few. I totally agree that with these hours in consulting, I'd probably be better off starting some sort of side hustle. So thank you again for all your thoughts - very helpful and I'll take time to think about it. 😃

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You expect to work 60 hours a week in credit analysis? Are you sure you’re counting your hours correctly?

60hrs to me looks like:
9am - 10pm M-Th, 9am - 5pm Friday.

I don’t know of any position in a bank where people work hours like that, except for investment banking.

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Yeah I know my hours suck, which is another reason why I'm looking into other career options now. If my job is only 9-5, I guess I won't mind staying in the same role for longer time... The time zone difference is really killing everything...

The 300k consulting you speak of works even longer and sleep in a different city every week!

Friend did it for several years, and at a time like today, very hard to exit, even if taking a pay cut. Companies don't hire as much consultants to FT anymore.

Thank you for sharing and good to learn your perspectives on this! Sounds like lots of stressful travel all the time... On the exit opportunities though, I feel banking is no better than consulting, lol. Are you still working in banking? I feel somewhat stuck in my current role/area, and don't see much else I can/want to pursue in banking in the next couple of years (unless I can be extremely patient and wait looong enough to get my next promotion). If not consulting, is there any other area/industry you'd recommend me to look into?

Congratulations! On you career growth till now. Sounds impressive

Thank you for your kind words! I'm pretty happy with my career growth over the past decade, until now feel a bit stuck at my current role, so fingers crossed for future opportunities!

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