I'll write a full-length post on your question regarding management consulting. I'll get it done in a few days.

Here are my short answers:
1) management consulting firms like McKinsey/Bain/BCG also have a reverse pyramid org structure. As you move up the ladder, it's basically “up or out”.

2) comparing to investment banks, consulting firms have more humane, civilized work environment due to the nature of their work.

3) McKinsey/Bain/BCG could be good entry-career for folks who're in their 20's. Those firms provide good business training. Consultants from these firms are well-spoke, smooth, and analytical. However, they lack solid operational experience and don't know how to run a real business.

4) most consultants are interesting people. Again, due to the nature of their work, they need to be somewhat likable, polite, smooth, and communicative. Also, consultants travel a lot, and spend a lot of time outside their home offices. This helps make the office politics more tolerable comparing to i-banking.

I'll stop here. Will write more on my post.

let me know if you've any question.

I'll write a full-length post on your question regarding management consulting. I'll get it done in a few days.

Here are my short answers:
1) management consulting firms like McKinsey/Bain/BCG also have a reverse pyramid org structure. As you move up the ladder, it's basically “up or out”.

2) comparing to investment banks, consulting firms have more humane, civilized work environment due to the nature of their work.

3) McKinsey/Bain/BCG could be good entry-career for folks who're in their 20's. Those firms provide good business training. Consultants from these firms are well-spoke, smooth, and analytical. However, they lack solid operational experience and don't know how to run a real business.

4) most consultants are interesting people. Again, due to the nature of their work, they need to be somewhat likable, polite, smooth, and communicative. Also, consultants travel a lot, and spend a lot of time outside their home offices. This helps make the office politics more tolerable comparing to i-banking.

I'll stop here. Will write more on my post.

let me know if you've any question.

first of all, my compliments to this really interesting blog! I am reading it for a couple of months now.
I have never worked in investment banking, but I know people who have and they basically told me exactly the same things you mentioned – the hours are a nightmare and the “corporate culture” resembles a nuclear blast zone.
In other words, I have no intention to ever enter that sector as well. I am more interested in business consulting, because I am interested in working on intense projects in different types of industries.
I know that consulting firms are not based on a “reversed pyramid” employment structure, but how about the corporte culture?
I have worked with a small, specialised consultancy firms for almost 2 years and I totally loved it. But how about the big ones? McKinsey, BCG, Bain? I guess there are some people with with impressive CV's working there and I kind of wonder whether or not that impacts on their social skills.
I have always wanted to work with one of those companies, but I would not do it if I realised that even people at the bottom-end of the hierarchy are treated with respect. I don't believe in the necessity of taking s**** as part of ones “education”.
Obviously the recruiting websites of all those consulting firms highlight how grerraaaat the working atmosphere there is, but let's face it consultancies have tight schedules and a lot of client pressure too.
Do you have any experiences in that area you could share?
Would love to read your thoughts!

From my perspective, becoming a doctor is a much more meaningful job than becoming an investment banking. I know the hours for medical residency is insane and resident doctors are miserable. But, at least they're working hard toward a meaningful goal (hopefully) to save people's lives.

I didn't go to the medical route, but I can see myself to be motivated to overcome the hardship associates with medical school and residency. However, it's virtually impossible to get me motivated to purse investment banking. I cannot find any meaning in investment banking.