Reply to What's the job market like for Econ majors from a top 10 school?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I thought you need post graduate degree in Econ to get any entry level analyst job[/quote]

No, all the investment banks have 2 year analyst programs for kids coming straight from college. Total compensation - including salary, signing bonus, and annual bonus - about $150k for north of 100 hours/week. If they do well, they get sponsored to get their MBA afterwards and get hired back as associates. Some econ majors choose consulting at McKinsey/Bain, some get pulled into private equity. 10-20% at the top programs push on to academia.  [/quote]

Is the total compensation package at a top consulting firm comparable to those at IB firms? Are those jobs also a 100 hour work week?[/quote]

[b]No, compensation is lower.[/b]

The hours are very bad though not quite as bad as M and A but the difference is at McKinsey/Bain you will spend a lot of hours on-site and in transit (traveling in planes, rental cars, etc.). You often don't have a real desk at your home office, just a hoteling spot. A lot of these travel assignments are to where businesses have offices or headquarters, which is often random company towns so it's not all glamour. When you're fresh out of college, the flights are usually economy class, too. 
[/quote]

Do you have an idea of what the starting salary range is for consulting?  [/quote]

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