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Originally Posted by Unregistered
consulting - you answer to both your organization and the client. however, you take no credit when the client succeeds but all the sh*t if something goes wrong.
banking - you just answer to your own organization. in fact, you might even get the opportunity to own a project and boss consultants around. take almost all the credit in the event of success and just little responsibility if things fail. consultants can be used as ur bullet-proof vest, similar concept to what was brought up by another poster previously.
take note that most consultants are dying to exit into the industry (ergo be the client themselves)
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Take no credit? You sure about that? Consultancies have come a long way since the good old "claim no credits" days. For example, consultancies are now proud to announce that they are partners-working alongside big clients in order to attain some of that halo effect. It makes for good credentials as well, imagine you are running a travel company-1 of the biggest names now, and your competitor just hired mckinsey for consulting and revamp of their program management system. Would you be worried? Would you want to hire mckinsey or another 1 of mckinsey's competitor?
Take another example, if you are running a company not in the travel industry but closely related, and you have witnessed great success from that mckinsey engagement. Would you not try to hire mckinsey as well?
In Singapore at least, consultancies are always proud to announce that they are partnering with governmental organisations in delivering positive impact to citizens.