<p>Hi there,</p>
<p>So right now I'm in total confusion about what I want to do with my life. I used to think that I would be like the average indian and go with either Medicine, Dentistry, or Engineering, but anyways, now I'm also considering these two areas of business. Both of these two appeal to me because they require a person to be creative, and seem to require good researching/predicting ability, which I'm fairly good at.</p>
<p>Here are the pros and cons for each according to me:</p>
<p>I-banking:
+Amazing salary...although I'm not too ridiculous (at least compared to some people who can only be happy with 250k+), I would like to be able to have a good salary (around 150k-200k).
+Doesn't require excessive "selling your idea/yourself".
-Terrible hours from what I hear. I could probably manage working around 7 or 8 to 5 or 6, but more than that would absolutely kill me.
-Low stability (correct me if I'm wrong)</p>
<p>Consulting:
+Creativity is encouraged
+Decent Salary
+I can be an engineering consultant, which can fit both of my interests.
-Too much selling of yourself/your idea
-Low stability (correct me if I'm wrong)</p>
<p>Which one will be better for me do you think given that money is of moderate concern, that I am not that extroverted, that I hate working really long hours, and that I dont want to get fired because the job has low stability?</p>
<p>Working really long hours? Aren't consultants expected to work at least 50-60 hours per week excluding travel time yadada?</p>
<p>I think, in business, although u dont have to be extroverted, u do have to be good at people in ur own way</p>
<p>in that case, consulting might better suit u</p>
<p>50-60 is fine with me actually.</p>
<p>but doesn't consulting require a person to sell themselves though?</p>
<p>Not until director level or equivalent - then you to a large degree sell work.</p>
<p>Consultants make ALOTTTTTT of money...Interning as an IBM consultant when i heard of some of the salaries... I almost fainted lol....i think the salary is pretty close if not equal to i-bankers and the industry is a little more forgiving and less volaitle than i banking</p>
<p>Consulting salaries are no where near Ibankers.</p>
<p>YOuuu havvveee no idea lol...i couldnt believe it....im telling you i thought the same thing! or maybe it could just be an IBM thing but i doubt it</p>
<p>Entry level position salaries for consultants and ibankers are roughly the same, but the bonuses are much better for bankers.</p>
<p>NOOO... most consultants get bonuses for client projects they work on/ i bankers dont....consultants get bonuses every quater which comes to an ibankers year end bonus.....im telling you!!! lol I had to do a spreadsheet for Payroll (W2 year end)...there was a lady whos desk is by me she does deals in Latin America.....she is 26 her salary was 125k a year and her bonus was 390,000....when i saw it i couldnt breathe lol!!!</p>
<p>she went to cornell... and had an MBA from HBS so maybe that helped her</p>
<p>Just beware, posting information like this can get you in big trouble if you are ever identified.</p>
<p>your right that was dumb?/</p>
<p>well I have another question related to this. Lets say I get a BS in computer engineering and want to go into consulting in this field. How hard is it to get a good job in consulting from a decent school like University of Washington. UW isn't the best overall school, but its got great rankings from what I've seen in EE/ECE compared to almost all Ivies. Its not exactly Stanford, MIT, UCB, but still. I'm not even nearly expecting what ixjunitxi claims consultants make. I just want to be able to earn around 120-150k in salary, plus maybe a 20k bonus or something like that. Is that feasible?</p>
<p>I think soo... although there is a strong emphasis is put on quality of education its not to the same extent as ibanking...consulting will not denie talent... whereas ibanking will if you arent the right "fit" aka ( your presentable enough to put in front of top clients) </p>
<p>im telling you consulting can be very lucrative...too many people are blinded by private equity and i-banking.... there are def alot of oppurtunities to make alot of money outside of those 2 fields.</p>
<p>It is hard to get an entry-level position at a top-level manegement consulting firm if you don't attend a target school.</p>
<p>that idk.... i do know that this upcoming summer IBM hired 60/950 undergrad applicants....although when i was there...there were 2 students from Rutgers... and places like BCG, mckinsey & co, Bain, Hewitt are pretty hard to land but not impossible</p>