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Managing consulting is a growing area with good jobs available in the 2009-2010 time period. For top students at elite universities, management consulting and investment banking represent careers that provide opportunities to earn a lot of money right out of school, often with only a bachelor's degree.
Whether seeking a career in management consulting or investment banking, a person needs strong skills in problem solving and diplomacy. One of the biggest draws to management consulting and investment banking is the ability to earn a lot of money. The average starting salary range for first-year management consultants with bachelor's degrees is between $65,000 to $100,000, depending on the company and the region of the country.
Neither career ranks highly for work-life balance, particularly during an employee's first few years.

The number of hours in a management consultant's work week is fewer, but travel time must be added to arrive at an apples-to-apples comparison. If you've got excellent math skills, they can add up to a lucrative career as an actuary. Discover some often overlooked financial career opportunities, and learn how accountants can catch the bad guy or rub elbows with Hollywood's elite. Learn how to make a lot of money in the business world by choosing the right career path, and identify the specific business careers that pay the most.
Unlike careers in medicine, law or pharmacy, neither management consulting nor investment banking imposes hard-and-fast educational requirements on entrants; the individual firms doing the hiring decide what to require of prospective employees. Management consulting requires learning the entirety of a client's frequently complex management structure, identifying inefficiencies and areas where improvements can be made, devising solutions to these problems and then breaking everything down into terms the client can understand so it can implement these changes.

While any amount in that range certainly tops the median income in the United States, it pales in comparison to what management consultants earn when they enter the field with MBAs.
A new management consultant out of business school can expect to earn between $125,000 and $200,000, once again, depending on the firm and city as well as myriad other factors. Having an MBA, particularly from a top program, has never hurt anyone's prospects for either career. For this reason, many aspiring management consultants elect to stay in school an extra two years before embarking on their careers.

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