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Thoughts on in-house strategy role at a major bank (MS, Citi, JPM) for consultant 4-5 years out of UG? Wondering about typical pay, type of work and exit ops.

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Idk but man after two FS clients you couldn't pay enough to ever work in the Back Office of a bank...

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Also check how the team moves internally. I did some projects in Citi in another country an external consultant and my impression was that they are very well positioned internally because they run a lot of the initiatives they designed for a little while and are natural fits for moving to front office. Check where past people in the role have gone. May be a good opportunity

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JPM pays well. Can’t speak for others. I honestly hated being at a bank. In essence, you are their in-house consultants and a cost. It’s always better to be on the revenue side... especially in a state of market volatility.

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What is well?

Seems to be the work is exactly what we do with these banks, you’re just an employee. You’ll make more money probably, but if you’ve done a consulting project with the bank and hated it, you’ll probably hate the in-house strategy work there too

I’m in in-house consulting (slightly different from strategy) at a major bank. Agree with the poster above that you go from being a revenue generator to a cost center and will generally be second-class to the front office. Promotions are more political in this type of role too. If you are interviewing, I would ask about their project portfolio and pipeline in detail. Additionally be very exact when asking about compensation details as I experienced it to be less transparent in the interview process than when I was in external consulting.

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