CONSULTING Vs FINANCE

[mr_var]

Hey all

my profile
btech comp sc fresher
i hav got into VGSOM IIT Kharagpur for mba 06-08 batch

I just want to know which domain is better....a consultant in IBM or Accenture....or a career in core financial jobs like treasury n corporate finance in SBI or HSBC or HDFC


which is a better paid job...and which is less hectic...i hav heard finance jobs are more hectic some hav to work even 12-15 hrs day

[bizskool]

core fin job is always better in hsbc/hdfc frm learning pt of view. after few yrs u can join ibm or accenture as domain specialist in finance vertical drawing a fatter sal.
a fresher in ibm consulting or accenture consulting assists the domain specialists and learns on the job. working in hsbc/hdfc is a better option career wise. they are still banks and you can expect to get out by 8-9pm. ibm/accenture works 24/7.
paywise ibm or accenture will pay more initially. sbi, hdfc and Indian gang can never match. look for Lehmann, JP morgan, HSBC global if they come to campus. do a good summers in one of leading invst banks if u are inclined to corp fin/invstmts, may get an PPO. an addnl course like CFA helps.
as u are a tech grad beef up domain and fin knowledge. reading economist, anlayst, ET/businessline and other fin mags helps in awareness.

[blitz_kt]

Hi.... I don't know if this thread is still active... but I had to ask.....

I am an undergraduate who has been working in IT for 2 years. Now when I have made up my mind that I want to do consulting post MBA, I haven't yet made up my mind to do MBA immediately.

The only thing I can boast of is three months of international client experience (Airbus UK to be specific ), opening up Toastmaster's club in my company and some small posts in my college.....

I was also looking for a job change, so can you guys help me out regarding

1) In such case how entertaining would the companies be to take a non-fresher candidate

2) In what ways would going into consulting field right now would help my placement aspects after MBA

3) Practically, what is the sort of work that a fresher (wrt consulting) does in these companies

4) Does that work really give you an idea (even remotely good) of consulting field.

5) 'Beggars can't be choosers'- but will the sort of company that I choose - strategic/full service/boutique/others affects my career plans later.

hope to hear from all of you soon on this...

[bizskool]

dont get disappointed, but its difficult for u to get in to consulting right now with 2yrs work exp. broadly consulting can be functional--finance, HR, IT and business strategy. pure play consultants like Mckinsey, Boston, Bain hire from IIM-A,B,C only and top 1%-2% of the class usually. accenture, KPMG, EY, IBM etc hire for IT, finance, HR and so on...

1. if u are looking at pure play (biz strategy) only consultants, give and top CAT, be a topper in IIM-A/B/C and expect a hire from the co.s mentioned. alternatively look at top-20 US/EU schools. include ISB and NUS, HKU in the List. they dont hire freshers undergrads or ppl with 1-2 yrs exp in consulting roles. mckinsey hires in KPO roles.

2. In case u have a CISA, CISSP or simlar IT security/audit cert u acan expect to join KPMG, EY, Deloitte or PwC's IT consulting. CA/CFA's can join corp fin consulting. still they prefer MBA's.

3. Its great to have a consulting exp before MBA. i have heard of some Stephens/Xaviers toppers getting hired in trainee roles in Mckinsey/EY but most of them from Eco-fin type backgrounds.

My advise will be to work for a year or 2 more and meanwhile prepare well for CAT/GMAT, complete MBA at top 2% of class and look for a consulting role. addnl degrees like CFA etc helps.
KPO's hire in IT roles but they will be tech/support roles and not consulting in true sense.
chk the recruitment section of Mckinsey, BCG etc.

[blitz_kt]

Hi,

thnx for the advice and well I am not disappointed by your reply.

But consider this.... post MBA I am looking for a good career in consulting... (strategy consulting to be more specific.... or pure play as you mention)... but having a 4 yr exp in IT industry won't help me at all during placements since the two fields are very slightly related.

Although there may be cases wherein ppl have made a career switch from IT to consulting post MBA (and that's another of the reasons MBA is popular) but I wanted to engage in some activity in consulting area which can give me an edge over those candidates.....

It is with this perspective that I had put up the question. So all ye experts what advice would you give to some in such scenario. I am not desperate to make a switch to consultancy because my job is going fine. The sector change bug bit me just to get an edge during placements and in real career as well.....

so any more suggestions!!!

[drizzle]

Originally Posted by blitz_kt

Hi,

thnx for the advice and well I am not disappointed by your reply.

But consider this.... post MBA I am looking for a good career in consulting... (strategy consulting to be more specific.... or pure play as you mention)... but having a 4 yr exp in IT industry won't help me at all during placements since the two fields are very slightly related.

:

i got ur point, but havin just an year of workx ...n tht to in IT ...will ur company switch u to consultancy domain? unless u really show some out of box ideas then thts different. i hav seen one of my frnd swithchin to business analyst in the same company where he was workin... but then the nature of job was givin tech. support for development team.. tht way he must hav got lot of interactions wit clients .... well ..

[blitz_kt]

Hmm... I am getting the hankg of things slowly....

well I think I should try and focus more on getting a consultancy domain within my company itself... that would be lot easier I guess...

but I came across Mercer's definition of Analyst position and I couldn't make complete sense of things .... so I am copy pasting the complete thing...

Our Analyst Program offers excellent career and growth opportunities for talented, hihgly motivated university graduates. Analysts take on variety of responsibilities: They carry out essential research and data collection, conduct complex quantitative, strategic, and financial business analyses, and work directly with client teams on client sites. Analysts have the opportunity to work on high-level business problems across diverse industries and clients


to me all of this means only number crunching and ppt making practically....(no matter how many words you use to adorn the same thing)...is it really so and is this sort of work too discounted by companies as a relevant work-ex..???

[drizzle]

Originally Posted by blitz_kt

Hmm... I am getting the hankg of things slowly....

well I think I should try and focus more on getting a consultancy domain within my company itself... that would be lot easier I guess...

but I came across Mercer's definition of Analyst position and I couldn't make complete sense of things .... so I am copy pasting the complete thing...

Our Analyst Program offers excellent career and growth opportunities for talented, hihgly motivated university graduates. Analysts take on variety of responsibilities: They carry out essential

yeh.. even i hv heard from seniors ..sayin it is more of number cruching and fiddling wit XL sheet .. well i was tryin to make a poin tht ..my frnd used to work in tech support where he had lot of interactions with clients and wit this experienc he switched to analyst in the same domain...tht makes sense....but then if ur workin in some development project or testin then i chances r less to make a switch over....

[blitz_kt]

hmmm..

well i was in UK for 3 months working for Airbus and interacting directly with them, sitting in the same cubicle as them and reporting directly to them. Unfortunarely because of the whole lot of problems Airus is facing, my project got axed and I had to return to India (the project otherwise would have lasted a year or so)....

and my work was nowhere testing... and in the three months the responses that I recd has given me good reviews abt my communication and ppl centric skills, so with my future plans and this whole thing coming at the right time, I wanted to make a timely shift....

because although i am pretty committed on MBA, I don't want to just take the plunge right now.. instead do it within next 2-3 years...

but this whole work of doing no. cruching doesn't seems to me as anything that is either exciting or even value adding....

guess the better option wud be exploring consultancy options within the sector itself... I can only hope that this consulting exp in IT wud help me in my placement aspects... wat say???

[drizzle]

Originally Posted by blitz_kt

hmmm..

well

guess the better option wud be exploring consultancy options within the sector itself... I can only hope that this consulting exp in IT wud help me in my placement aspects... wat say???

yeah, u right buddy... so u takin up cat this year right..?