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Chief
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Chief
Shortly?
Bankes work to get paid; consultants get paid to work
Chief
Waaay better than the hedge fund.
Back there it was around 90h+/week (my "weekend" was from saturday noon to sunday 2 pm).
In OW it would be close to 50h-55h/week on average (some projects can go up to 70h). But I personally don't feel comfortable logging off before 8 pm (except on friday), so this number could be a bit lower if didn't have that
Pro
well for one, upon moving from banking to consulting, my nose health improved
Bankers bank, consultants consult
Travel, problem solving approach, etc.
Consultants also work in a much broader field where people can specialize in a specific industry or technology
Bankers are measured every day / week / month in a tangible manner by both clients and internally.
Consultants avoid being measured in a tangible manner by clients and as a result this makes feedback touchy-feely internally.
$$$ made if a trader, value of deals closed if a banker, return on investment if buy side. This is right from day 1 in finance. If you do well then your bonus reflects that. If not you’re on the street.
No one is measuring analysts on their sales metrics and there is a lot more room for error in consulting. Especially outside mbb where up or out isnt an explicit thing
Hours, motivations, exit ops, attire. Bankers are paid more, exit often into cushy roles like PE, motivated by finance and compensation, and wear suit + ties (traditionally).