Is MIM salary better in finance or consulting?

Question

Anjali Rawat · Accepted Answer

The salary you can expect with a MIM degree depends on the industry you enter. In finance, MIM graduates tend to attract more lucrative opportunities, especially in investment banking, financial analysis, and asset management. These roles typically offer high starting salaries, which grow further with experience and performance. 
As for the consulting sector - salaries are competitive, and there are more chances for quick promotions based on performance. Here, graduates get exposure to diverse industries, which makes their skills more versatile, increasing long-term earning potential. However, the salary growth may depend more on the firm and the type of consulting you pursue.
Ultimately, both finance and consulting offer attractive salaries for MIM graduates, but finance might provide higher immediate pay, while consulting offers more stability and career flexibility.

Rohit Chadda · Answer

In terms of salary, consulting generally offers higher pay for MIM graduates compared to finance. Entry-level roles in consulting, such as at firms like McKinsey or BCG, can pay between $80,000 to $100,000 annually, with bonuses adding up to 20-30% of the base salary.
In finance, particularly in roles like corporate finance or investment banking, salaries range from $70,000 to $90,000. However, bonuses in finance can be significant, sometimes reaching 50% of the base salary in top firms.
While both fields are lucrative, consulting often has a faster salary progression due to its structured promotion path. Finance salaries can vary more, depending on the specific role and region. 
Ultimately, consulting tends to offer better initial salaries, while finance can catch up with larger bonuses over time.

Prateeksha Manral · Answer

Both the Finance and Consulting sectors are highly rewarding for MIM graduates. In finance, the salaries tend to be higher right out of school, especially if you land a role in investment banking or private equity. These roles can be demanding, but they come with significant bonuses and opportunities to grow your earnings rapidly. Over time, finance professionals can command very high salaries as they gain experience.
Consulting, meanwhile, also offers competitive starting pay. While the initial salary might be slightly lower than in finance, the career trajectory is promising. Many consulting firms offer structured career paths with clear promotion timelines, allowing for steady salary growth.
Consultants also gain a diverse skill set, which can open doors to other industries or higher-paying positions in the future. While finance may offer more immediate financial rewards, consulting offers long-term career potential.

Yash Mothia · Answer

Salaries for MIM graduates in consulting tend to outpace those in finance. Major consulting firms, such as Bain or Deloitte, offer starting salaries of $80,000 to $100,000 annually, plus performance-based bonuses, which can significantly increase overall compensation.
On the other hand, finance roles, especially in areas like financial analysis or asset management, typically start at $70,000 to $90,000 per year. While finance bonuses can sometimes double base salaries, they are more volatile and tied to company performance or market conditions.
Consulting careers generally provide a more consistent and quicker salary growth path. 
If you're looking for early high earnings and rapid career progression, consulting might be the better option, though finance can offer substantial rewards with time and experience.