<p>I chose to post in this forum because many knowlegeable people like Sakky and Alexandre are visitors here.</p>
<p>Among the job offers my D (senior in college now) has recieved, she limits her choices to two: L.E.K. Consulting (in Biotechnology) and UBS (IB in Health Care). The job decision date is tomorrow but she still has the two swing back-n-forth.</p>
<p>Basically, LEK has better working hours and allows time preparing for other careers such as applying to MD/ MBA schools. The UBS IB unit is known to work very long hours but the analysts are compensated very well. If she is certain that finance is her career then UBS is better; plus she likes NYC better than Boston (where LEK is located). </p>
<p>Thank you for your opinion and happy new year.</p>
<p>Congrats for your daughter. Both are great positions and this is definitely a problem many students wish they had.</p>
<p>LEK is an extremely respected consulting firm in biotech/pharma/medical devices. In fact, they often can out compete Mckinsey or BCG for projects. The hours at LEK are better but still on average would be 65 hrs/ week. A nice thing is since they are a strategy firm and do not do implementation, travel is very limited. Due to the short nature of their engagements of being 4-6 weeks, hours can sometimes reach into the 80-90 hours and from one associate I knew, had a 100 hour week once in her three years at LEK. </p>
<p>The difference between the positions would be LEK would give her more breadth while UBS would be better in depth but more limited on the type of work she would be doing. LEK also has an office swap so after 2 years or so she can work at another office for 6 months. I would assume the UBS position in healthcare would be less demanding than an M&A group, but since it is still in NY, the hours would still be pretty hectic. </p>
<p>If she plans on doing an MD/MBA, and work in industry later, LEK would be a better choice IMHO. LEK would offer her business problems from start up companies to top 5 pharma. If she plans on finance later then UBS would be the better choice.</p>
<p>Your information and advice are very helpful. You have excellent observation that, exactly, my D majors in economic and has completed all the pre-med requirements. During the past three summers she interned at a biotech college, a biotech companiy, and an IB firm.</p>
<p>It appears now she is leaning towards LEK. Thanks.</p>
<p>Medical school admissions is very stories-driven, in essays but especially in interviews. For that purpose – my very limited field of expertise – it sounds like LEK is the better choice.</p>
<p>After working in an industry for 2-3 years she might not be interested in pursueing for an MD/MBA anymore. Even with an MD/MBA she could return to finance. In addition, after 2-3 years in IB she should have promoted to the associate level, thus an advanced degree is not as necessary.</p>
<p>She is still 50-50 on the two choices. I have a feeling she likes NY so much that could lead to a decision.</p>
<p>I am curious as to why our daughter would not want to stay in the bay area? The SF and LA office of LEK do a lot of biotech and most of her colleagues would be from Cal, stanford, ucla, and caltech.</p>
<p>NY is also very expensive to live in, in fact, you would be barely scraping by with making only 50k a year there. IB in NY is extremely competitive and people tend to push their work/life balance on hold for their careers there than more regional IB offices like LA (I heard Lazards there has the same pay but 65 hours/wk) and SF where it is a little more relaxed.</p>
<p>I work in consulting in NYC. LEK is a very good shop, and both the cost of living and the hours will be better in boston, and the nightlife is at least somewhat comparable given the huge numbers of 20-somethings there.</p>
<p>The bottom line is that LEK gives her better exit opportunities after her analystship is over, and more choices is usually better. If this was between LEK and Goldman Sachs you’d have a real dilemma, but UBS will A) work you like a dog if you’re in IB, and B) look decent but not great on a resume, unless she wants a career in IB.</p>
<p>Great advice from you all: Denzera and Mike(s)</p>
<p>She goes to Harvard so many her colleagues will remain on the east coast.</p>
<p>Denzera makes excellent points with insider information – I will convey that to her immediately. She should now able to make a more comfortable decision.</p>
<p>Her current analysis is, however – she can take the long work-hour demand of IB for a couple of years, then go into Consulting later. The other way might not be as desirable. So she would be able to experience both “worlds”.</p>
<p>You need to determine her future goals because the experience that both offer will aid in a future in two different industries. And if she had massive students loans (?) an ibanking stint will allow for quick pay off, especially considering the average for the top firms this year ranged from 130-150k for a first year analyst. This year will be another GREAT year if predictions are correct, especially with an upcoming tech bubble. Must as well cash in while she can</p>
<p>Last year was a great year and supposedly this year should even be better. But keep in mind that if this ends up being a bad year, a first year analyst top bonus of 80k the previous year can easily be 40-50k.</p>