sfgiants

I'm a junior business major at USC, 3.3 GPA, concentrating in either Information Systems, Operations Management, or a split concentration where I take half my classes in IS and half in OM. (I was actually originally going to concentrate in finance, but the industry tanked and so I switched to my current concentration.)

I am beginning to think seriously about finding a job, and it seems that the most prestigious firms are in investment banking and consulting. I don't have the GPA for investment banking, but consulting was recommended to me and I think the highly paced, challenging environment would be a great fit. I don't think I'd be competitive for firms like Bain or McKinsey but maybe mid-tier firms like Protiviti or BearingPoint would be a good fit.

The one thing that is somewhat of a dealbreaker for me in both Investment Banking and Consulting is the long hours and somewhat mediocre entry level salary of 50-60k. This is okay, but when one takes into account that consultants work 50-60 hour weeks plus travel this doesn't seem so hot.

In any case, I am seeking advice. Should I look into positions in Fortune 500 companies? Are there any consulting firms that have roughly 40 hour weeks? Outside of investment banking and consulting, are there any career paths that have high salaries and good opportunities for advancement?

If it's important, I owe my mom about 50k in tuition loans that I will slowly have to pay off, so an MBA isn't realistic for maybe 6-10 years.

Any thoughts are welcome.

mje8711

if you're worrying about having to work more than 40 hrs/wk and traveling, consulting is definitely not going to work out. i've never talked to any consultant who doesn't work between 50-70 hrs on average while traveling at least every other week. you do get significant time off, but really consulting is one of the best ways to network and gain invaluable experience. definitely a huge resume booster and key to getting in the best MBA programs.

and i wouldn't scoff at 50-60k a year, especially in this down economy. be tough to find any entry level job with something better. you have to think long-range, put the work in and you can easily make 6 figures in consulting after just a few years experience.

you may want to look into corporate IT departments, less hours, more relaxed atmosphere, still have competitive salaries.

sfgiants

Thanks for the reply, mje. Point taken about the positives of consulting.

Corporate IT sounds like a good plan but to some degree I'm worried about my lack of in-depth knowledge about coding. I know basic java and a little visual basic but nothing hard-core like the computer science majors.

With regard to consulting, I looked up salaries on glassdoor.com and I also have Vaults career guide to consulting from 2007, and from those sources the salaries seem to be something along the line of

50-65k year 1-3
65-80 year 3-6

and by then some go into management but a lot of people move on to other jobs. There is high turnover, but that is necessary to support the pyramid with tons of people at the entry level, and less and less each level up through top management, of which there are very few.

hmom5

What exactly is your goal other than to avoid long hours? Sale and trading is about the only high paying, short hour job I can think of for a business major, but the stress makes them wish for long hours with less stress.

Bottom line: great pay requires big sacrifice.

Mid market consulting will be tough for some time as all the consulting firms are hurting and those who would have gone to MBB last year are now looking lower down the food chain.

Have you done any internships? You need to get out there and observe to see where you'll be happy.