Consulting or Banking

Tom Spencer

This post provides you with a high level comparison of management consulting and investment banking. Investment banks help companies raise money for various purposes including investment, acquisitions, and provision of working capital. (Source: Google Images).

Management Consulting versus Investment Banking

Management Consulted

The cons of investment banking – the long hours, the repetitive and unengaging nature of the work, the lack of non-finance exit opportunities – mattered far more to me than a 6-figure salary. Travel. Further reading: Consulting travel ; Day in the life of a consultant. #3

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Traveling for Work? You’re a Prime Target for Hackers

Harvard Business

As if the stresses and headaches of business travel weren’t enough, there’s one more thing to worry about while traveling in unfamiliar places: the security of your email. Each time a traveling executive opens spymail, they reveal a wealth of private information — their current location, the time of day they read their email, the hotel at which they are staying. Establish executive travel email protocol.

Cheap money, what is it good for?

Tom Spencer

Mark Carney, Governor of the Bank of England, issued a statement immediately following the result in which he aimed to calm market sentiment. In a calm demeanor, he reassured us that the Bank of England would not hesitate to take additional measures, as required. Bank of England: 0.25%.

Just How Bad Is Business Travel for Your Health? Here’s the Data.

Harvard Business

I went with the pizza, but my lack of choices was annoying — so much so that, when I got home, I started looking into the data on health and travel for work. According to the Global Business Travel Association and American Express , Americans took more than 500 million domestic business trips in 2016. To investigate the link between business travel and chronic disease conditions, my colleagues and I turned to de-identified electronic medical record data from EHE, Inc.,

"Endgame for Central Bankers" Says Saxo Bank CIO


Via email, Saxo bank CIO and chief economist Steen Jakobsen declares " Endgame for Central Bankers ". He also asks " Why is it that Most People Trust or Bother to Listen to Central Banks? No, the conclusion has to be that are no independent central banks anywhere!

Saxo Bank's Real Forecast for 2016; Mish Comments and Projections


Steen Jakobsen, Saxo Bank's CIO and chief economist is back with real predictions for 2016, following yesterday's "Outrageous Predictions". Saxo Bank’s Outrageous Predictions are out.

Bank of Japan Buying Over 100% of Japanese Bond Issuance; Steen Jakobsen Expects "FantasyLand Will Give Way to RealityLand"


Safe travels, Steen Three Key Steen Opinions Japan QE Infinite (Helicopter money next) – BOJ is buying more than 100% of issuance from Ministry of Finance now! Steen Jakobsen has some interesting comments on China and Japan in his latest email.

Saxo Bank's Steen Jakobsen Warns of Global Economic Vacuum, China Slowdown, Germany Growth Negative, 30% S&P Correction


Steen Jakobsen, chief economist at Saxo Bank in Denmark, sent an interesting email yesterday regarding China, Germany, the European debt crisis, and equity prices. Safe travels, Steen Thanks Steen! Stay an extra day and golf or travel.

Mobile Phones Promise to Bring Banking to the World’s Poorest

Harvard Business

For populations living so far off the economic grid that traditional banks have never considered them as a source of new business, the availability of mobile technology is lifting the bane of cash dependency and opening a door to the mainstream of the global economy. laura schneider FOR HBR.

Ukraine Central Bank Imposes 6-Day Waiting Period on Foreign Currency Purchases; Capital Controls Hit Ukraine in Effort to Halt Money Exodus


Ukraine’s central bank imposed limits on foreign-currency purchases after its interventions failed to alleviate pressure on the hryvnia, while President Viktor Yanukovych left to meet his Russian counterpart, Vladimir Putin. and the European Union discuss potential aid, Yanukovych traveled to the opening ceremony of the Sochi Olympics. billion a month earlier, according to the median estimate of eight analysts polled by Bloomberg before the central bank publishes the data tomorrow.

Paradigm Change: Saxo Bank's Ten Outrageous Predictions for 2016: Slide Show


Every year, Saxo Bank CIO and chief economist Steen Jakobsen comes up with a selection of " outrageous " predictions for the new year. Let me again and for good order’s sake remind you that this is not Saxo Bank’s official forecast. 2015 was a poor year for us in terms of predicting the outrageous, but as I travelled around the world over the past 12 months it became obvious to me that we are at some sort of an “end of the road” in terms of world markets.

Reflections on Conspiracy Theories and Sensible Accounting by Reader "Alice", 89 Years Young; True Meaning of Banking Safely


I received several emails regarding my post on Risk-Free Banking and Fractional Reserve Lending that I would like to share. Reader Alice who travels the world at a ripe young age of 89, says. All I know is that when I travel the world, (and I do every year) I see people who have never lived so well in any other time in history, including the poor and downtrodden. Indeed, as it stands banks are always bailed out at taxpayer expense, the very epitome of "moral hazard".

The Crazy Lives of Consultants: Consulting vs. Banking

The Crazy Lives of Consultants

Consulting vs. Banking. skip to main | skip to sidebar. Tuesday, October 21, 2008. Ummm.Did they KNOW there was a financial crisis? Posted by. Crazy Consultant. 2:40 AM. 2 comments: Anonymous said. CLASSIC! October 21, 2008 at 3:32 PM. Anonymous said. In addition to the expected decimation of the junior investment banker population (layoffs), Barney Frank today proposed a moratorium on investment banker bonuses. Is there even a debate on this issue? Damn, it feels good to be a consultant.

Get Your Money Out of Italian Banks Now! Austerity and Bail-Ins Fan Populist Flames; Italy's 5-Star Movement to Challenge Renzi


Topping off the discontent, Italy Bank Rescues Spark Bail-In Debate as Anger at Renzi Grows. In 2013, Sergio Picinotti, a 63-year-old unemployed man living with his elderly mother, invested much of their nest egg of €40,000 in a bond issued by Banca Etruria, their local bank based in the medieval Tuscan city of Arezzo. A friend at the bank told me: ‘Trust me, it will take the third world war to shut down Banca Etruria’.” Get Your Money Out of Italian Banks Now!

Blockchain Will Transform Customer Loyalty Programs

Harvard Business

Loyalty programs have proliferated across travel, retail, financial services, and other economic sectors. See More Videos > See More Videos > All loyalty programs are vulnerable to a blockchain revolution, but the travel industry is perhaps the most at risk. In some cases, travel loyalty program points differ by journey component (flight, car rental, hotel, dining), leading to fragmented point collections. Marketing Technology Travel Digital Article

Cheaper Taxi Fares Coming Up: Ten Miles, Five Bucks!


Here’s welcome news for city travelers but not for central banks such as the Fed, damn insistent on price inflation. … Continue reading → Economics

How I Became a Millionaire as an Independent Consultant

Successful Independent Consulting

Yet my bank account says I’m a millionaire. If I see money in my bank account, even if it’s my savings account, I get looser with my spending. Every time I deposited a payment from a client into my regular bank, I immediately transferred 40% to the online bank.

Cash Flow Relief for Independent Consultants: the CARES Act & Other Ideas

Successful Independent Consulting

We’re in an unprecedented situation because of the COVID-19 coronavirus, and the economic fallout has been drastic for many business sectors, such as travel and restaurants. The PPP loans will also be available through most major banks in the coming weeks.

Why marketing should be investing in both the digital and the physical

The Source

Whether it’s the demise of the high street travel agent and the high street bank, the growth of online shopping, or the relationships we maintain in the virtual world, digital has impacted all our lives.

What To Do If Your Client Doesn't Pay

Successful Independent Consulting

Yesterday, my bank finally received the wire transfer. We submitted an invoice for the consultant’s time and travel expenses on May 16. Sincerely, -- Liz cc: John Doe, General Counsel of XXX IT Solutions The money was in the bank ten days later. It was bound to happen.

Bed and Breakfasts: Creative Accommodations On the Road or Nightmare on Elm Street?

The Crazy Lives of Consultants

But I’ve had a couple of co-workers choose a different route when they travel, and I’m curious what you all think of it. Some even soak their per-diem, banking the extra hundreds rather than handing it over to the hotel. I stay at big chain hotels too often.

4 Financial Innovations to Make Business Easier

Tom Spencer

While the interest rates are usually higher than a regular bank loan, the collateral requirements are almost nothing. This is a huge game changer in industries that are capital intensive, and the non-bank lending options are growing every day. Online Banking.

Oliver Wyman Careers

Consultants here tend to serve insurance, investment banking, retail banking, government agencies, payment processors, and private equity fund clients. Travel. Whether or not you view travel as an opportunity depends upon your personal preferences.

Used to be

Seth Godin Blog

This hotel used to be a bank. That conference organizer used to be a travel agent. This company used to make playing cards.

Q&A on Sustaining and Building Business in Crisis Times

Alan Weiss

Banks are suspending mortgage payments, RMDS (required minimum withdrawals) will probably be suspended to preserve retirement fund value, and so forth. The banks failed, the market collapsed, and people jumped out of windows because they were ruined.

Social Hierarchy

As I started recruiting for jobs, I discovered there was a hierarchy amongst professions (medical school, law school, investment banking, and consulting were "good"; consumer packaged goods and industrial companies were "bad") and a hierarchy amongst firms within an industry (McKinsey, BCG and Bain were "good"; other firms, less so). As I’ve traveled the world and done work across many industries, it never ceases to amaze me how many social hierarchies exist.

How I used cold emailing to land an internship in Mongolia

Tom Spencer

Leading up to the summer before my senior year of college I was searching through Google for my next travel destination when a pop-up ad directed me to a website about Mongolia, the land of nomadic culture and once the largest contiguous empire founded by Genghis Khan.

Improve Business with Technology!

Women in Consulting

It invoices your customers, pays the bills on your schedule, banks your deposits and even syncs everything with your accounting program, freeing your time – and your mind – to grow your business. Business Travel. By: Renee Daggett.

Why Consulting: The 2019 Ultimate Guide


A great possibility to travel. It is not unusual that consultants will travel to other countries to work on projects. Why consulting?

The Crazy Lives of Consultants: Sorry Bill.I'd rather kiss my new boss.

The Crazy Lives of Consultants

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Coffee Chat – Career Advice from a Deloitte Consultant

Tom Spencer

Jesse: At Ivey, I saw a lot of my classmates going in one of two directions, Investment Banking or Consulting, so naturally it peaked my interest. Take your time to travel after school. Box Car Social on the Harbour front in Toronto, Canada.

Management Consulting in Canada

Tom Spencer

Along with the prestige, a career in consulting is alluring to graduates due to well-known tenets of the job including exposure to C-level executives from day one, frequent business class travel, complimentary fine dining, and extensive training and mentorship.

Book Review – “How the mighty fall” by Jim Collins

Tom Spencer

Leadership was also at fault with the head of the group, Vijay Mallya, exhibiting undisciplined extravagance in the low-margin aviation industry leading him to borrow heavily from the banks. Stakeholders, staff, and banks continued to demand payment. Introduction.

M1 Money Supply vs. Real GDP


Here are a few interesting charts of M1 money supply vs. Real GDP/10 from reader WendyBG. M1 consists of: (1) currency outside the U.S.

S-Corp Checklist

Women in Consulting

Bank and Credit Card Accounts : ? Have SEPARATE bank and credit card accounts for business transactions and personal transactions; DO NOT CO-MINGLE personal and business expenses. ? If there are deposits in the bank account that did not come from customers/clients , make sure these loans are posted on the balance sheet and NOT in your income total. ? Review the travel expenses. Make sure you separate out any personal travel.

Why Consulting?

Certainly, some fields such as investment banking can top it, but the consulting salary beats out most others. Looking at the compensation at Partner banking over a million dollars annually as compared to the compensation of a professional 20 years into a corporate job makes the figures all the more appealing. The third challenge is coping with the additional hours and travel demanded by the consulting lifestyle.