Consulting vs IB vs Big 4 - which one opens more doors for careers?

Discussion in 'Business, Careers & Education' started by merkur, Jul 26, 2010.

  1. onix

    onix Senior member

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    I get why large consulting firms use consultants, and I get why consulting firms hire kids (they're cheap), but the problem lies in the fact that corporations are paying for expertise, that they may or may not be getting.
    I don't think you're familiar with management consulting.
     
  2. volatility smile

    volatility smile Senior member

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    Trust me man, the free market has figured out what the right price for this service is. It's not like America's corporations have been swindled for the last 50 years through a ponzi scheme called consulting.
    I see where you're going, but what about stuff like this:
    (taken from http://tech.mit.edu/V130/N18/dubai.html). I realize his experience may have been atypical, but what's up with that?
     
  3. MetroStyles

    MetroStyles Senior member

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    I see where you're going, but what about stuff like this:
    (taken from http://tech.mit.edu/V130/N18/dubai.html). I realize his experience may have been atypical, but what's up with that?


    It is an anomaly. People will also exaggerate to attract attention. I can only speak from my experience at one firm, and my friends' experiences at others.

    Look, I don't even love the job and I am defending it on this point.
     
  4. ConcernedParent

    ConcernedParent Senior member

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    On a related note. How does or can one break into consulting without any real quantitative experience? I'm a philo major and have good grades so far from a good (not top) school; USC if it matters... of course I'm just skimming the water of this as a possible career, not dead set BCG/Bain/McK or die trying or anything.

    I can still change my major but I really don't trust my mathematical skills to be able to graduate with say, an econ degree, with the same GPA.
     
  5. MetroStyles

    MetroStyles Senior member

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    On a related note. How does or can one break into consulting without any real quantitative experience? I'm a philo major and have good grades so far from a good (not top) school; USC if it matters... of course I'm just skimming the water of this as a possible career, not dead set BCG/Bain/McK or die trying or anything.

    I can still change my major but I really don't trust my mathematical skills to be able to graduate with say, an econ degree, with the same GPA.


    You will need something to prove you can handle the quant. You need to take some relevant classes. Activities can help but not as much. Internships in a related field can add a lot of value as well. Qual majors get their chance in interviews, but not nearly as often. How are your math SATs?
     
  6. gladhands

    gladhands Senior member

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    ^^^^^ word

    It's not really about specific "expertise" most of the time


    The question is not what management consulting is in practice, and what it is meant to be, and there is a huge disconnect.
     
  7. MetroStyles

    MetroStyles Senior member

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    The question is not what management consulting is in practice, and what it is meant to be, and there is a huge disconnect.

    No.
     
  8. Fuuma

    Fuuma Franchouillard Modasse

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    The question is not what management consulting is in practice, and what it is meant to be, and there is a huge disconnect.

    He's telling you consultants don't do consulting but are just luxury office temp workers. But yeah, consulting IS a ponzi scheme.
     
  9. ConcernedParent

    ConcernedParent Senior member

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    You will need something to prove you can handle the quant. You need to take some relevant classes. Activities can help but not as much. Internships in a related field can add a lot of value as well. Qual majors get their chance in interviews, but not nearly as often. How are your math SATs?

    Pedestrian. 730 [​IMG]. Am I boaned?

    I've done a semester so far and possibly, maybe, could survive Calc II. But once it gets to vectors and multi variable shit, I'll inevitably struggle and my gpa is just going to tank.
     
  10. MetroStyles

    MetroStyles Senior member

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    Pedestrian. 730 [​IMG]. Am I boaned?

    I've done a semester so far and possibly, maybe, could survive Calc II. But once it gets to vectors and multi variable shit, I'll inevitably struggle and my gpa is just going to tank.


    Take Calc II and take stat (even easy stat). Take something like a corporate finance elective. Highlight the shit out of these courses on your resume. Corp finance is easy, so is (easy) stat. Get a couple A's and that will help a lot.

    730 in math is fine. As long as you are 700+ that's okay.

    For someone like you, the big 3 or something similar would be best. Stay away from the quantier shops or anything focusing on financial services.
     
  11. ConcernedParent

    ConcernedParent Senior member

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    Take Calc II and take stat (even easy stat). Take something like a corporate finance elective. Highlight the shit out of these courses on your resume. Corp finance is easy, so is (easy) stat. Get a couple A's and that will help a lot.

    730 in math is fine. As long as you are 700+ that's okay.

    For someone like you, the big 3 or something similar would be best. Stay away from the quantier shops or anything focusing on financial services.


    Thanks bruh, I will sleep easier tonight knowing there is still a possible pathway to a career that will suck the life out of me.

    I assumed all the financial Ivy types I would be competing against were all 770+ SATs with stacks upon stacks of mathematical experience.
     
  12. Valor

    Valor Senior member

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    Thanks bruh, I will sleep easier tonight knowing there is still a possible pathway to a career that will suck the life out of me.

    I assumed all the financial Ivy types I would be competing against were all 770+ SATs with stacks upon stacks of mathematical experience.


    Mck has some weird hiring patterns, but usually 3.7+ from top schools, 3.9 from others, either that or some sort of connection/varsity sport. I don't think they require much in terms of quantitative ability, actually I don't think any "consulting" firm is very quant. Most of the math even in financial consulting is easy enough. Most companies that require significant quantitative skills (funds/risk analytics) don't hire consultants. At most I think financial consulting does debt/equity ratio and credit analysis.
     
  13. MetroStyles

    MetroStyles Senior member

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    Mck has some weird hiring patterns, but usually 3.7+ from top schools, 3.9 from others, either that or some sort of connection/varsity sport. I don't think they require much in terms of quantitative ability, actually I don't think any "consulting" firm is very quant. Most of the math even in financial consulting is easy enough. Most companies that require significant quantitative skills (funds/risk analytics) don't hire consultants. At most I think financial consulting does debt/equity ratio and credit analysis.

    Management consulting for financial services, especially within some types of FS firms, is extremely quantitative.
     
  14. otc

    otc Senior member

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    It's not like America's corporations have been swindled for the last 50 years through a ponzi scheme called consulting.

    The best con leaves the subject unaware that they have been conned [​IMG]

    As for which opens the most doors, it depends which doors you want opened. General consulting is probably going to point you to B-school and then the widest variety of doors. IB is the way you gotta go if you want to go PE (of course then you will just end up *hiring* management consultants frequently) or other slots in high finance--I have certainly seen postings even at places like Google that expect their corporate finance people to have done an analyst tour at a bulge bracket firm.

    Big 4...well...I can't see why anyone would want to be an accountant. I mean, I can't see why anyone would want to be a 120 hour a week excel monkey, but I REALLY can't see why anyone would want to be an accountant at a big 4
     
  15. bananananana

    bananananana In Time Out

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    The question is not what management consulting is in practice, and what it is meant to be, and there is a huge disconnect.

    Amazing how many people think consulting is like what they saw in Office Space.
     

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