IB Technology Vs. Tech. Consulting
1) Tech Consulting will offer you a greater exposure (I mean a wider variety) to technology compared to IB Tech, as the latter will be limited to what is used within the organisation. If you are keen on developing a wide range of skills in various technologies Tech. Con may be better. Having said that, if you join a Tech Con and are stuck in a project for 2 years, then that may not be case. Chances of this happening are greater in a big 4 as they tend to bag multi-million, multi-year £ projects. Smaller firms ususally offers variety.
2) As far as training is concerned, you can get good training in both IB Tech and Tech Con.
3) About long hours, you are more or less right. IB Tech staff working hours are comparable to that of Tech Con. hours. But, you may have work in shifts in IB Tech if you are part of support team and you have users outside your timezone.
4) IB Tech may be boring after a while if you are stuck with one role (same or similar work every day), whereas Tech Con. may offer various interesting roles with different problems to solve for different people (clients).
5) It is often easier to make a move from Tech Con. to IB Tech then other way round.
6) IB Tech involves less travel as you will be based in one office. Tech Con. may take you places.
In General, Tech Con. offers variety in terms of people, problems,roles,techology, places etc. For some people, it works.
Hope this helps.