What are the key differences between consulting and finance careers, and how should I adjust my career strategy if I’m moving from one to the other?

Having worked in both consulting and finance, I’d say the main difference is the focus. In consulting, it’s about big-picture problem-solving, like helping a client expand into a new market. You’re working on long-term strategies, collaborating with clients, and often juggling multiple projects.

Finance, especially investment banking, is much more detail-oriented and technical. I remember working on an M&A deal where we spent weeks fine-tuning a financial model. Every small detail mattered because it could impact the deal. It’s also faster-paced. 

Focusing on the nuts and bolts of the role, there's a lot of difference not just in work type (see other answers) but also quantity and timing. Although neither job has a "chill" work-life balance, here's what you can expect:

Banking

• Average ~80 hours / week with a range of 60-120+
• Variability is extremely high, depending on deal flow
• Often takes place outside of normal working hours and on the weekends

Consulting

• Average ~60 hours / week with a range of 40-90
• Variability is more consistent during projects, but you have "on the beach" time between projects
• Often packed into the first part of the week, especially if you're traveling to the client site

There's a lot of nuance, though--let's set up a free intro call to discuss further!

Hey,

I made a similar move from consulting to finance, so I can definitely relate! While the two fields share some common ground, there are some key differences you’ll need to adjust to. Here's what worked for me:
First, finance is much more numbers-focused. In consulting, you’re often working on strategy and big-picture recommendations, but in finance (especially areas like investment banking or private equity), you’ll need to get really comfortable with financial models, valuation techniques, and detailed market analysis. If you don’t already have experience with that, I’d suggest diving into online courses or brushing up on Excel, accounting, and financial modeling. Even basic understanding of DCF or M&A models will go a long way.

That being said, your consulting skills are super valuable in finance! Things like problem-solving, client management, and project leadership are highly transferable. When making the shift, I found it helpful to really play up how I’d led complex projects, worked under tight deadlines, and helped clients make data-driven decisions. Finance firms appreciate people who can think strategically and communicate complex ideas clearly, which consulting gives you a ton of experience with.

One thing I had to adjust to was the more transactional and fast-paced nature of finance. The work can feel more focused on short-term financial goals and market-driven decisions compared to the broader strategic focus in consulting. The hours can also be pretty intense, especially in roles like investment banking, but if you’ve survived consulting projects, you’re probably already used to that.

Lastly, don’t forget about networking. This is crucial in both fields, but finance can be even more relationship-driven. I leaned heavily on my consulting network and reached out to contacts who had made similar moves into finance. LinkedIn is a great tool for that, and informational interviews really helped me get insights into what specific roles would be the best fit.

In short: sharpen your technical skills, highlight your consulting strengths, and be ready for a faster-paced, numbers-driven environment. It’s definitely doable, and your consulting experience will give you a unique edge. Good luck with the transition!

I made the shift from consulting to finance, and the biggest difference I noticed was the emphasis on technical skills in finance (things like financial modeling, valuation, and understanding market trends). If you’re coming from consulting, you probably have solid problem-solving, project management, and client-facing skills, but you might need to build up your technical finance knowledge. 

To adjust your strategy, I’d suggest highlighting any finance-related projects you’ve done, even if it was just analyzing a company’s financials or working on a market entry strategy. If you can, take a course in financial modeling or get some exposure to valuation work. It shows you’re serious about the switch. Also, be ready to shift your approach from broad, strategic thinking to more detail-oriented, numbers-driven analysis. It’s a bit of a mindset shift, but totally doable. Good luck!