<p>This is just wrong. The grunts (think newspaper editors) and jocks go into banking. The more academic/intellectual students go into consulting because the work is supposed to be more interesting. Average GPA for consultants is definitely higher than that of bankers, and schmoozing plays a much higher role in getting an interview at an ibank than a consulting firm (can compensate for a lower GPA, inability to do math during the interview process, etc).</p>
<p>Think about it this way - if you interview with 6 people and one MD likes you at an ibank, you are going to get an offer from his desk. At consulting firms, you constantly work with different teams so you have to be someone that all the partners who interview would be willing to have on their team. Also the case interview process is a more standardized measure of intelligence than asking the same brainteasers over and over agian. </p>
<p>So… when applying to bschool ON AVERAGE the consultants have the better undergrad grades, probably have higher GMAT scores, and most importantly have more time to write their essays and get their ■■■ together than the bankers</p>