Investment Banking vs. Consulting | From a Former Banker & Consultant
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- เผยแพร่เมื่อ 12 พ.ค. 2024
- Having worked for the same amount of time in both Investment Banking and Management Consulting, I figured it would be a good time to make an honest comparison video with the good and the bad (no sugarcoating here!). Enjoy and subscribe for more weekly content!
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TIMESTAMPS
0:00 Intro
1:49 The work
6:34 The lifestyle
10:06 The people
12:01 Closing thoughts
awesome video!! watched it before my consulting and ib interview haha
Very informative! Thanks for sharing your valuable experiences!
Glad it was helpful!
Great comparison! I went through a similar thought process myself
Thanks Sean! Glad to hear 🙂
Amazingly informative video thanks for sharing your experience
Glad it was helpful!
Great & honest comparison bro, I'm thinking about moving into IBD but within Asset management from a big4 firm soon :D
Thanks man, best of luck making the move into IBD from big 4!
Nice video, I think you put a lot of efforts to make that intro, love it😊
Anyway, based on your video, is it fair to say that the "on the clock" culture in IB is primarily down to the background of the people going to the IB itself? I mean, it's not required to just sit around waiting for comments on your work, but more face time with your associate/vp will leave you a positive impression, perhaps because it's the norm among the finance guys, is that correct?
Glad you liked the intro! And yes, facetime culture is definitely much bigger in finance than in consulting, it's kind of an unspoken rule that the junior analysts cannot leave the floor until the senior bankers have left; I haven't found this to be the case in consulting
@@matthuang21 and do you find it consistent across different firms and countries? I was thinking that it might be the norm in NY due to all the major deals happening there but curious to know how it's like in other places
Thanks for your insights, I am a current MBA student considering these two options, very helpful
Thanks John! Glad you found the insights valuable!
Which one did u end up choosing and why?
I am still deciding, I am a first-year MBA, one more year to go @@Him3049
@Him3049 I worked in IB out of undergrad, then switched to consulting. I made a video explaining why I left IB - it was a really interesting field and I learned alot but ultimately left because of the culture and difficulty maintaining a life outside work.
Great video Matt! Have you considered exiting to buyside? And if so, do you have a preference for PE or HF? Thanks!
Hey Nicholas! I have considered both PE and hedge funds - both have their pros and cons. Might make a vid in the future discussing this!
Hey Matt. Thank you for this informative video. I just wanted some advice on how to get into IBD , just a brief background on myself , I am working as an analyst in boutique private wealth management firm based in India having completed all levels of CFA for the past year. Would really appreciate if you could provide some inputs on how I can make myself a fit for investment banking. Thanks
Hey Shubh! Glad it was helpful. I recommend leaning into your current experience working with clients when you explain why you’re interested in IB. For example you could mention you enjoy advising clients, working in a team environment, and learning about/evaluating businesses. You more than likely already have the knowledge required to do the job, and it’s just a matter of networking and interviewing to get your foot in the door. Hope this helps!
Thank you for replying. I guess I need to polish my networking game and then move ahead with my candidacy
Can you please make a video about the different roles in the banking industry one can pursue with the salary (starting, overtime), especially for older candidates who just got an MBA, i.e. ?35, 40, 45 years. Also, is IB possible for older candidates from what you might have seen? Thanks!
Hey Sam! It’s less common to see older candidates enter the industry because (1) banks heavily recruit through undergrad and mba programs, and (2) older candidates usually are less interested in working 80 hours a week. That said, if you recently got your mba and your current role is somewhat tangential to finance, then with substantial networking and prep it’s not impossible. Will add this to my list of future video ideas - hope this helps!
@@matthuang21 Thanks for the comments! Also, if you could mention in your video which other industries maybe a better fit for older candidates, if banking is not possible?
Sounds like consulting career is better, thanks for sharing your experience 👍
Totally agree! Thanks for watching
Good vid
Glad you found it helpful!
You would never do an MBA yourself right since seems like you were able to pivot just fine and you’re happy in consulting for now and have good exit options eventually?
Correct! For now at least, I don't foresee the need to do an MBA because I was able to pivot without going back to school. Also, doing an MBA now wouldn't open up that many more exits to me than the ones that I have now.