Of course it depends.
Consulting - way better for going into strategy, corp/business development, even fringe things like marketing. In other words, if you want to be working on strategy for a while, this opens the most doors.
IB - Opens the doors to PE better.
Both are good for getting into Top 5 B Schools, assuming you have a decent name employer. If you are looking for pure money (think twice is all I'm going to say), IB will give you the opportunity to be pulling in 250K-300K within 4 years at a good PE job after your stint as analyst.
I have known consulting friends to get into similar positions, but really it is a much easier path via IB.
With consulting, it is also VERY easy to get into industry. So if you consult airlines, you will have a bunch of sweet connections in that industry after 3-5 years. Same if you work in financial services, or media, or whatever.
So you see, it really depends.