Dear all,
Outside of Malaysia, investment banking average 50%-100% higher than consulting salaries, with the difference increases significantly as the seniority increases, although consulting compensates with perks that banking does not offer- from better travel packages, to more generous health and retirement packages.

However, is that the general case in Malaysia? Anyone cares to give insight as to how it differs as compared to local IB vs consulting salary?

Edited: Sorry for much general post previously. By the industries outside of Malaysia I am comparing buldge bracket banks (BBs) with MBB consulting (McKinsey, Bains, Boston). In Malaysia, I am looking at comparison of total compensation between our local top tier investment banks (CIMB and Maybank) with MBBs consulting.
Lower tier consulting firms like Accenture are discarded from the topic as I am only looking at top tier consulting firms. But for local investment banks I have to compare them with MBBs, since foreign investment banks do not have significant presence as the local IBs.

This post has been edited by zzstormriderzz: Jun 30 2016, 05:52 PM

Depends on the company I guess? IB in Goldman Sachs vs Consultant in Mckinsey / IB in Hong Leong vs Consultant in Accenture will probably give you different results.

guess the difference not much.

malaysia salary range normally lower compare with others foreign countries..

MBB pays much better if you are looking at entry level. However, IBs is pretty dependent on the roles you take on and for the revenue generator jobs, the bonuses can be really massive, to a point it eclipses the MBB.

But, I don't recall for the more senior positions there would be much difference, most comfortably are looking at RM50-RM80k? You have to be specific when you talk about pay, are you talking base, total cash, equities, total comp?

I am talking about total comp. Sorry didn't explicitly explained this on earlier post.

I'll need to check with my MBB peers (which is quite stingy with their comp info), but MBB should be the better one for the more junior level, competitive in your mid and lower for the senior vis-à-vis the IB side. That's because once you get to the more senior positions for both, your monthly should be relatively be the same but there is a better chance at a generous bonus, stock options, car ownership and cash allowances plus the other perks that just tips it over the MBB.

However, both are pretty different spectrums of job.

What is the objective of this comparison? These jobs are in limited supply and are only available to a small group. Might not be the ideal position for you.

Research is vital - you would have obtained the information you seek through more reading. These are highly different fields - I don't believe you understand the rigour and nature of the indistries. You don't understand the firms - at the very least, get the names right.

To answer your question, the base for MBB far exceeds that of local tier 1 IBs. Even accounting for bonuses, the overall package for MBB is higher.

This would be different for bulge bracket banks vs MBB.

Fuzzy, we have spoken about this in the past. Speak to your MBB peers, you'll know what I mean.

Yeap, he's asking about the bulge brackets and my comments is as per such. I'm not sure if the bulge bracket banks he has in mind though, as those that immediately springs to my mind most likely only have a rep office here and one would probably need to go to SG to have a much proper setup.

If he's comparing between the local MBB hires and the local tier 1 IBs, the senior levels are comparable. If he's talking about MBB hires in general, they are better off.

Edit: Like I mentioned, my MBB peers are quite secretive with their side of comp, partly because it's a tight industry and partly because we have pinched a few of their people before.. Going by the benchmark available to me (which might be way off), my comments are grounded as such. I would appreciate if you could whisper some numbers for my personal consumption, and myself likewise

This post has been edited by fuzzy: Jul 1 2016, 11:33 AM

I m keen to know ts's qualification and his intelligence

Maybe I m incompetent, but get into those places is not easy yo unless you are backed Dato or tan Sri. Lol

Accenture is not entirely "low" tier. In case you didn't know....Accenture's new tagline since 2013 is strategy, consulting, digital, technology and operations

Yes, they have pivoted into Strategy, just like how Deloitte has acquired Monitor and PwC has acquired Booz

Strategy is a standalone business unit within Accenture and this means adopting compensation and HR Policies that you would expect within a strategy firm.

That said, the compensation is market competitive. If you want to know the figures, check out managementconsulted. The figures are in USD, apply those figures but regard it in MYR. You will then get an idea of the general compensation rates.

IB's in general far outstrips consulting salaries. CIMB and Maybank are jaguh kampungs.........so it's moot to try to compare their rates with that of MBBs. Compare them with GS, JPMorgan, MS or the likes.



This post has been edited by feynman: Jul 2 2016, 03:54 PM

IB. MBB pays in USD because they charge in USD so they pay a lot higher than the local IBs but the foreign IBs here pay even higher.

Which MBB firm would that be? As far as I know, it's an MYR package.

Investment bank it’s a very general tag. If you are inspired by the glamorous part highlighted in the movies, you may refer it to the M&A or CF division. Then you have others like treasury and research. Banks normally operates through “low salary high bonus” regime. Hence, 1 or 2 year bonus is quite normal for the big players. However, most IBs are slowly downsizing the CF and M&A section to put more priority on less regulated segment such as wealth management and private banking. Some of the smart ones will jump to PE, VC or HF to dabble in fintechs. Pay is normally not disclosed compared to banks.

MBB is a very small team operating on global scale. Hence, most if not all are paid in universal currencies (USD or Euro). So for MYS to work in MBB will be much more enticing compared to an American or European. Foreign banks like GS and JP have very limited presence here so it’s not a similar comparison.

MBBs? You pretty much have to be Ivy league, your Dato and TS's doesn't hold much bearing unless it comes with money in consulting deals.

USD equivalent. MBBs charge USD rates. One in particular is structured as a global partnership, hence the comp being significantly higher than the rest. Think some have revised down their payscales but the packages are certainly not based on a local payscale.