Which industry is better to stay in long-term: finance, tech, or consulting? Why?

like
Posting as :
works at
You are currently posting as works at

Financial tech consulting to keep the doors open to all of them.

likefunnyupliftingsmart

Me too

Tech and finance both offer opportunities to build significant wealth either in established companies or with new ventures. I think bulge bracket IBs are going to be - and already have been - disrupted by tech and regulations. So the entry gates for finance seem to be getting more narrow.

Consulting is the least likely to give you an eight figure pile at the end of the career. Fewer and fewer slots at the top and less stability once you get there. Also, you’ve got to have a very broad range a skills to make it to a partner role in consulting. There’s less of a need to have great EQ, IQ, and domain knowledge in finance or tech. A good trader with a shitty personality can bank. A socially awkward engineer can bank. A low EQ consultant probably tops out at manager, maybe SM.

Still, making tens of millions of dollars is very rare. Choosing a career to maximize that outcome is kind of a bad bet regardless.

likesmart

All I’m saying is making partner at a consulting firm requires the broadest range of skills but offers the lowest probability of reaching mid-tens of millions of net wealth. It’s very hard to do in any field, but I think consulting offers the lowest risk-reward function. At least it has over the last 20-30 years.

like

Tehc

Post Photo
like

In what roles?

Referring to jobs rather than the industry per se. The thing with Tech is you need to work twice as hard to keep your skills current. That takes time, effort and money. I don't see core finance and consulting skills changing *that* much over time.

like

Finance.

like

@FT1 to pay the bills I think - he takes a lot of pride in his work and it’s kind of his identity. He didn’t grow up with much money and his parents constantly fought over it so he takes a lot of pride in being able to provide well for his fam. That said, he is sooo burnt out and not fun to be around and he needs to retire ASAP

Really depends on your priorities. If it’s money, you’ll want finance

like

Whichever one you like the most.

like

A starting point would be doing your research on the type of roles you can get in each industry. All of them offer a pretty wide variety of different positions, companies, etc. so it’s important to understand what opportunities are available.

Assuming you are in consulting right now, try to pursue projects in FS and/or tech to get some exposure to the companies and culture.

Then, you have to decide your priorities. Pay, WLB, interesting work, etc — you just have to decide what you care about most.

like

Really depends (spoken like the consultant I am). Enjoying the industry you are in is important in the long run. I love financial services and have since college. The products and markets fascinated me early on. The evolving marketplace, technology and pace of changes have kept me interested. We see come convergence in tech and Finance now which is interesting too. Amazon, Microsoft etc can’t hire financial services people fast enough. As for consulting, I find that as a consultant I have more exposure across a firm and access to the senior most people and their thinking and strategy and plans for the future than I would working in that company. One important criteria is also to look at whether you would be in a “front office” role. If your considering leaving consulting are you leaving being a client service, revenue generating role. Think twice about what that means before making that move.

like

If you’re looking for a new job there are several key criteria to consider. Some are obvious like comp/benefits, your potential boss and team, company reputation , values etc. One important criteria but sometimes overlooked by people earlier in their career is whether your new job would be revenue generating or part of a cost center. You may need to take that step at times ( to switch industries, to step towards something else, to allow you flexibility etc) but know and recognize this and work towards being in the front office of whatever sector you are in.

like

Tech.

like

Consulting for fin tech of course

like

Related Posts

My contract is close to ending with a verbal offer on table to stay for 30k. I am looking for something more techanical in the engineering field that matched my abilities more. Is it worth the move even if I don't have anything lined up. Personally don't think I can handle job and applying all at same time due to increased anxiety.

like

I would appreciate your perspective.
I am currently working on my MBA in a professional evening and weekend program at a highly accredited university. I am thinking about transferring to a much smaller private online program, specifically because they offer a concentration in organizational health, which directly builds on my doctoral research. Does great depth and specialization outweigh the value of a highly respected generalist degree?

like

I lead a L&D org for a small fin. Consult. Firm. New to Toronto from states and looking for new opp. Ex mgmt consultant with 15 yea exp. Any thoughts on opps or networking appreciated

like

What certifications are good for technical project manager? I was thinking to start with PSM and PSPO and then move to ITIL, ITSM. Not sure about this though. Not planning to do PMP as I think it’s more waterfall focused. Was also thinking about AWS. Any other certifications recommended?

likehelpful

Can anybody share the career ladder / designation hierarchy in Mastercard?

like

Larsen & Toubro Infotech Barclays global service center 27 LPA versus Larsen & Toubro Infotech 30 LPA fixed which one is better to choose from career, WLB, Avg hikes and technology exposure perspective

like

At what point does the value of a degree fall off? I'm in my early 30s, and have five years of experience, and work on a very theoretically interesting project. I believe I'm on track to promotion in the next year. So, I could put in a year of full time school to check the box off, but I'd be sacrificing hobbies and social life (not to mention cost). Is this FOMO or is there real opportunity here?

like

Seeking advice on career paths within tech after bizops. Currently in bizops and former consultant, and while the work is fine I’ve realized that bizops feels similar to consulting and in the long term I’m looking for a role that has more ownership and ideally more analytical. Does anyone have any advice/anecdotes on other roles that may be suitable, and what it takes to get there? Thank you!

like

Considering joining a small 50-person company as the only attorney (prior attorney is retiring). (I am currently in-house at a F50). For others who have done the same path, what surprises did you have when moving from a large company to a small one?

For example, it sounds like I should not expect a document management system, based on a prior post in this bowl. I’m guessing expenses like state bar fees and cell phone are not reimbursed.

Any advice on things to expect (or not expect)?

like

Audit A2 in NYFS right now. Is there any hope for me to get into FDD now, and does it even make sense for me to jump at this point rather than make senior first? I need some advice. No deal experience

likefunny

Does anyone know if it's possible to move from tech sales to strategy planning? I am a young professional and mostly have background in sales and account management but I do have an econmics and finance degree which could be helpful to move into more technical roles like strategy and operations.

like

Is TOGAF worth it? Been coding for 13 years and want to stick to coding / design work. Is it worth taking the test now?

How hard is the path from lit to GC?

like

Hey all! My organization is looking to hire an Account Manager/Director/Customer Success person that will be managing junior consulting resources with clients. They will be placing them with those clients and then managing them. Are there any roles like this out there in the ecosystem or that maybe some of you are currently in? What kind of job title do you have if you are in a role like this? This is a brand new role for us and uncharted territory haha

like
likeupliftinghelpful

I am not in law school yet. But I was wondering where I can find out about other opportunities besides the standard tax attorney route. I am almost a CPA and currently in audit.

like

Hi All,
I currently have 5.5 Ipa package in LTI working hear from starting of my career having Total 3 years of experience in Data Analytics field. Skills Tableau, SQL, Python. I also have done post graduate deploma in ML and Al from IIIT BANGLORE while working. I have notice period of 3 months. And this will be my first switch.I want to switch in MNC's like TCS, Accenture, Infosys, wipro, Capgemini, Etc. in pune with Tableau and SQL and Python as core skills. Can you please reffer me.

like

Considering moving from BD/Partnerships in tech to Corporate Development. Has anyone here done it? Did you like the switch and do you have any pointers on getting in

like

Any insight into finance manager role at Microsoft? Total comp, growth opportunities, WLB?

like

I’m looking into exiting consulting and moving into product management. Picked up a few books to read. Would a PM certification provide a lot of value? Any other tips are appreciated! Thank you.

like

More Posts

I'm looking to find a job like the Forward Deployed Engineer role Palantir Technologies in the UK.

I have become hooked on finding a job that involves solving the kinds of problems they presented during their interviews. Although I got to the final round my performance anxiety got the better of me (I think I wanted the job a bit too much...). I will reapply after working in a similar company.

Is it "deep tech" / "data science" or "smart enterprise" that they're doing? Any advice welcome.

like

Strategy& PEVC group:

Can anyone provide insight on the team's work, reputation, culture, hours, etc? Any specific direct or indirect knowledge would be appreciated.

ALSO: New user here accepting pity likes so I can comment/DM PwC Strategy&

like

Hi guys
My current ctc is 11.7 fixed. Having 4+ experience. What is the maximum CTC i can ask for. Please help

like

Anyone works in public sector/government audit what is your salary progression?

like

Opinions on srategy team at Sapient?

like

What is your socioeconomic background and how much NW do you consider “enough” to be able to live comfortably?

like

Heyy people,

Couldn't attend this interview at PwC due to last minute technical difficulties. I requested HR to reschedule it. She said it's not possible this week and she'll try her best for the next week. I am really tensed, I don't want to throw away this opportunity. I was really looking forward for the interview. Would they really reschedule my interview?

Hi all, i plan to stick with tax ( public acct) till senior and will apply for private role with a hope that i can start to do part time tax prep. Any thoughts or advice?

like

What about putting paper in IBM just after a year, will they try to retain and match the expectation ?

like

Hi fishes!
I want to know how long do top agencies take while hiring (complete process). I have applied at several organisations but they are proceeding so slowly.

I'm also quite desperate to join at a good place to learn.

like

What is the salary range for C11 data Analyst at Citibank? And how much salary hike is expected from current CTC?
Currently working as software engineer with 6lpa Citi

like

Hi guys! Please help me with 11 likes. I am working as a Product Manager in BFSI and looking for a change in a Fintech. Appreciate your help!!

likesmart
like

Does where you get your masters degree matter? I’m in an online environmental science masters program at an expensive “name-brand” school, but have colleagues telling me I should transfer to a less expensive program to save $ because no one cares about where your degree is from. Aside from the cost of it, I like my program, and the fact that I’m now connected to an incredible alumni network. And not gonna lie, I like the clout. Thoughts?

like

How can one transition from a Visual/graphic designer in marketing to a product designer? And what’s it like being a product designer w a visual design background? Will you completely leave behind the graphic design world or are you still wearing many hats and still fulfilling that design and creative buzz? What courses, or resources do you have to make that jump? Can my portfolio have made up projects for this? I feel like I’m starting all over in design school! Haha.

likehelpfulfunny

Ah thank you so much for doing this! My husband and I are planning to dive into this this summer, but frankly it seems impossible. The downpayment thing is pesky

like

Where are the offices of Deloitte India (and not USI) in Bangalore ?

like

Hey ,I applied 3 weeks ago to Bank of America USA ,with a decent resume and referral. But still did not heard back.Need a human eye who is willing to check my application and help me moving to the next step? Bank of America USA. I'm based in NY.

likehelpful

Lesbian fish in LA or staffed on a project there? Dranks? 🥂

like

Amazon India I am working in Amazon India, I applied for an IJP where my hiring manager selected me for the role but my current manager is not ready to release me. Can someone please suggest what should I do

like

Additional Posts in Consulting

Citrix: Worst email application known to mankind!

like

How do I connect with a PPD after a team dinner without seeming douchey or like a suck up? I basically want to say thanks for everything, holla at your girl, but I can't figure out how to word that.

like

Season finale of billions... 💸 #teamaxe

like

Hey 🐠, what are your recommendations of books, articles, or practice tips to improve communication, both verbal and written? Want to be stronger at running meetings, pitching ideas, writing (cont’d)

like

Does B4 let people go the same day as their resignation only if they’re going to a direct competitor? How about MBB or a tier 2 consulting firm?

Have people been let go immediately in case they go to FAANG or other industry firms?

like

Anyone else hear that post-CRT partners will get fired this year in commercial advisory? How the hell does a partner get fired....

like

I’m so depressed, have been for years, and don’t see it getting better. I’ve tried everything from therapy, exercise, psychiatry, journaling, self help books, healthy diet, etc. what else is there?

like

Does anyone know where I can go for a short period of time to get a business work setup? Two monitors + keyboard + mouse and good WiFi? I have a timed case study coming up and would ideally go into the office to do it but it is closed and i don’t have a good wfh setup.

like

Where can I buy big four swag?

funnylike

Can Deloitters being laid off file for stuff like unemployment & Obamacare during their new job search?

like

Best way to study for AWS cloud practitioner certification? (Not very technical but hoping to learn)

like

Looking for some book recommendations :)

like

Have the Big 4 raised their initial post-MBA salaries to somewhat match the recent MBB offer changes?

like

M/SM and above, why do you label a meeting as “touch point” or ask if you can have a “quick chat” when it’s something serious? Millennials like us always assume we’re about to get fired - I actually have been laid off in a meeting with that title. But at my new job, my boss asked for a “quick chat” to literally ask me to change the title of a meeting and then chat about christmas. Now that I’m in management, I want to understand it better.

like

Anyone use consulting sites like FirmConsulting.com? Looking for reviews. Also anything that will help prepare me for starting in advisory. Thanks!

like

Accenture folks, seeing lots of news about layoffs at other firms here. Are we in the same situation?

like

if there's no pension anymore and a significantly lesser lump sum payout, why become a partner at EY?

like

If you get laid off when you’re in the middle of an interview process elsewhere, do you tell the prospective employer?

like

Deloitte people. I confirm layoffs of 4 ranked individuals and this year it's been hard rankings. Many 3s forced into 4. I was on the calls. Beware. Not trying to scare. Sharing facts.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal