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Technical role in GS or consulting?

 
#1 Technical role in GS or consulting?
06/03/2009 16:21

Mr. Magoo

Hello to all living creatures on the forum..

Say you don't have a great love for tech role, buy yr stupidity took you down that role..

what would you choose?

a) Tech role at GS after graduating with the hope of branching out to managmenet eventually, or

b) technology/management consulting at a 1st/2nd tier firm?

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#2 RE: Technical role in GS or consulting?
06/03/2009 18:43

anon to Mr. Magoo (#1)

Option 2. You'll get more variety (but then, I'm a consultant so I would say that). If you pick your firm carefully, your development and job security over the first few years will be reasonably secure.

Option 1 is more likely to lead to a career dead-end or redundancy within the next couple of years because you'll be shunted into a highly specialised role. As soon as that area ceases to be flavor of the month, you'll be back to square one except you'll be too old to apply for graduate positions.

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#3 RE: Technical role in GS or consulting?
06/03/2009 19:45

DCF to anon (#2)

As a consultant with a good friend on the tech side at GS, I'd say consider Option (a) as it will pay a bit more (up to a point), pay a decent bonus and avoid all the sh1t that goes with consulting:

- the thrusting colleagues;

- the constant pressure to perform like a circus animal;

- the excessive hours;

- the mindless work (at least in your first year or two);

- the brutal appraisals; and

- the absence of choice of type of work, colleagues and working location from one project to the next.

On the other hand the tech stuff would bore me rigid. You will miss out on all the insight and exposure to some interesting business problems - and that's what makes consulting even worth looking at.

Fundamentally they are very very different jobs and it is a bit like comparing an apple and a steak.

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#4 RE: Technical role in GS or consulting?
07/03/2009 11:27

Mr Magoo to DCF (#3)

thanks for the replies 1st of all..

personally, I don't mind tech roles that much - especially if its in such a top company like GS.. but I feel that I would be better at consulting, from what I read about it and how I am as a person that is..

however all I read about on this forum is how shite it is to be consultant.. can it be so bad??! I would think that having an overview of projects and trying to see how to make processes at a company work better is intellectually challenging.. is it really a bunch of bs?

1 last thing - do all consultants travel Mon-Fri? I don't think I'd be able to work like that if it means I am never home except weekends.. is this a normal thing or do you travel for say, 20 weeks a year (which is doable personally)?

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#5 RE: Technical role in GS or consulting?
07/03/2009 14:17

boaby to Mr Magoo (#4)

what is GS?

how is babby formed

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#6 RE: Technical role in GS or consulting?
07/03/2009 15:11

Spamalander to Mr Magoo (#4)

I don't think it's that bad. People post on here to let off steam or because they have a problem they want help with; they don't post when they've had a fine day and solved all the problems.

Not all consultants travel 5 days a week. It depends on the role they're in. It's only when you're involved in "staff augmentation" that you need to be on client site all day, every day. If you're involved in more hands-off or strategic work then you might only need to be on the client's site for meetings. If you're consulting to financial services, then all your clients are likely to be in commuting distance of your firm's office in London. If you're consulting to engineering/manufacturing, your clients are more likely to be spread around the region, requiring travel and overnight stays.

So your travel requirement depends on which firm and practice you join, and a certain element of luck in the projects you're staffed to. It's a vallid question for interview, or for this forum if you want to ask about a particular firm.

The one caveat I have is that some firms say that are generally on-site 80-100%, but will accommodate requests if you need to be based near your home office for family reasons. This may have been true a couple of years ago, but right now you're expected to go wherever, whenever, the firm can get work.

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#7 RE: Technical role in GS or consulting?
09/03/2009 21:15

C3P0 to Mr. Magoo (#1)

Base pay will be similar - maybe 15% more at GS but at GS you will get 20-30% bonus at end of year, not the stupid 1-5% crap you'll get elsewhere.

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#8 RE: Technical role in GS or consulting?
09/03/2009 22:33

Tripledeck to C3P0 (#7)

GS, like McK, doesn't pay that well especially for non-FO roles. You'd make more at ACN. The tradeoff is having the honour of working for a prestigious name.

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#9 RE: Technical role in GS or consulting?
09/03/2009 22:53

boaby to Tripledeck (#8)

nobody fancy elaborating on what GS is?

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#10 RE: Technical role in GS or consulting?
09/03/2009 23:07

Dweeb to boaby (#9)

Golden Showers

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#11 RE: Technical role in GS or consulting?
10/03/2009 10:05

Anon to Dweeb (#10)

"GS, like McK, doesn't pay that well especially for non-FO roles. You'd make more at ACN. The tradeoff is having the honour of working for a prestigious name."

What a load of crock. If you have something to back this statement up with I'd be delighted to hear it. I suspect not, though.

GS is Goldman Sachs btw.

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#12 RE: Technical role in GS or consulting?
10/03/2009 16:18

anon to Anon (#11)

GS IT graduate scheme = 25k p.a.

McK Research Analyst = 24k p.a.

Accenture ATP = 31k p.a.

10-20% bonus for all three roles

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#13 RE: Technical role in GS or consulting?
10/03/2009 20:09

fred to anon (#12)

GS IT graduate scheme was 35k 3 years ago. Dont think it went 10k less. Perhaps you are confusing it with rbs

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#14 RE: Technical role in GS or consulting?
10/03/2009 23:20

MSDW to fred (#13)

GS base has only reached 35k for FO roles in the last couple of years and has levelled thereafter due to the market conditions. GS IT don't reach that figure until 2nd or 3rd yr.

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#15 RE: Technical role in GS or consulting?
11/03/2009 10:02

Anon to MSDW (#14)

A lot of bullsh***ers on this site.

Base was £36k for grads joining in Sept 2007 - I should know seeing as though I knew several people joined there in that year. FYI the industial placement base was £26k for 2005-06 so that puts things into perspective. The highest I've heard offered for tech is MS with £37k + £4k sign-on, but this was for grads joining in 2007 so not sure if it has deviated from that since then. Either way, to say that GS IT pays £25k is ridiculous.

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#16 RE: Technical role in GS or consulting?
11/03/2009 11:52

fred to Anon (#15)

"GS base has only reached 35k for FO roles in the last couple of years and has levelled thereafter due to the market conditions. GS IT don't reach that figure until 2nd or 3rd yr."

Seriously some people on this forum.... Without knowing anything you make an assumption. There are no grad jobs in GS that get 25k. Most likely is more than 35k now for IT grad roles. Citygroup, morgan stanley and JP Morgan are exactly the same

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#17 RE: Technical role in GS or consulting?
11/03/2009 17:21

Jesus H to fred (#16)

I can't believe some grads still think it's worth pursuing IB jobs - not least in the BO. Head over to ibtalk for a dose of reality, and please don't clutter this forum.

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#18 RE: Technical role in GS or consulting?
11/03/2009 17:39

fred to Jesus H (#17)

Ok Jesus owner of the forum... The guy asked for some facts, someone gave him things that hapen only in his brain and you have an issue on someone asking info? This forum would be better if everyone first think and then write

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#19 RE: Technical role in GS or consulting?
12/03/2009 21:13

George Clooney to fred (#18)

Jesus (i'm guessing you're not the real one) - why is it not worth pursuing a career in IB if it is tech? Might as well do it there, if the pay is better

btw, industrial placement will be around 33k at gs and grad salary (same for all - tech, FO, etc) will be around 36k + 5k g.handshake

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