I'm currently in the beginning stage of my career. I have two offers with me from JP Morgan Chase (Credit Risk - strategy analyst) and BCN (Bain Capability Network - analyst). The JP Morgan offer is much more attractive (about 40% higher salary compared to BCN, among other benefits), and given that BCN isn't the front office, I'm unsure of the exposure and learning curve it would provide to me. But I plan to pursue an MBA after 3 years of work and I don't plan to continue in credit risk for the long run, hence the plan to use the MBA to shift careers from financial services. My question is, does it make sense to stay in fin services for the money, and then shift careers via MBA or start off in a non-fin services role itself? (Ps. I'm only certain not to continue in financial services in the long run, but I haven't found a role that I'm certain to pursue yet so I want to know more about finance vs consulting in the long haul) Any inputs from y'all about the entry level jobs in both roles, or general suggestions will be very helpful! Which one do I choose???? #finance #consulting #jpmc #bcn
Dm me. I can help you decide if you haven't made the choice already. Knowing both the roles, I think these are based out of India!
Awesome! Check dm
It depends on your path. JPMC is corporate world. Bain is all about management consulting, where do you see yourself enjoying life more?
See that's just it, i could say I'm leaning towards consulting, but that's only because it looks generally attractive to me. I don't have enough knowledge in the consulting careers to make an informed decision. But on the other hand JP is a safer bet for me in terms of the offer specifics. So if I plan to sacrifice that for BCN, it's sacrificing certainty for something uncertain, which isn't a smart move imo. Which is why I'm looking for folks who can give me some perspective to make a decision...
So, I'll try not to be biased here. Of course that Front Office has a better compensation package, and it will get you started in the right track. Also, yeah, go team JPM! On the other hand, I'm sure that the increase in comp comes with long hours. Also, assuming that you make it (a lot of strats give up early on, not because the job is particularly complicated, but because as an analyst you are going to be subject to endless hours of boring work), 3 years from now you will be an associate in your way to VP. The rat race can be addictive, you will be living a completely different lifestyle. I know that it sounds depressing but you may find yourself postponing that MBA indefinitely. Well, truth be told, you can find yourself in the same predicament even in a lower comp job (finances job can be comfortable). I'm not sure if your plan is to go for an MBA while working or to drop everything to study. It's certainly easier to get your MBA done while working in a less demanding job. Specially if can you can make BCN or JPM pay for it. My reality is completely different (I'm a somewhat older teachie, not a young finances guy), but I did make a mistake by giving up my first VP position to pursue a PhD full time. 3 years later I was PhD candidate with several articles published. I was also the husband of a very pregnant wife; at that time I had no savings and was living in a dorm. I never finished by PhD, had to settle for a Master's (well, for now). It took me another 3 years to boomerang back to JMC, and well, long story short I'm still a VP (granted, in another country, making 2x what I was earning before). Of course that taking a year off to pursue an MBA as a young single man is a completely different ball game. All I'm saying is, life happens. As much as you can try to be strategical about your goals; get your education sorted early on if possible. Regardless of everything I just say, given the choice I would definitely recommend you to burn the midnight oil and go for the well paid 70 / 80 hours a week strat position while you are young. Just make sure that you don't run from it to studying 60 / 80 hours a week without earning any money like I did. Well, this and don't knock up the missus while "shifting careers" :D.
How easy/hard is it to get the firm to pay for MBAs?
I honestly have no idea. One of my colleagues had his Master's degree paid by JPM (but keep in mind that this was a while ago, and I'm in the UK where a MD is generally both shorter and cheaper than in the US). Check the intranet and maybe bother your manager about it.
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