Over 200 students looking to gain advice on the world of business packed Science Center D yesterday for a forum entitled "Consulting vs. Investment Banking."

A Career Week offering sponsored by Harvard Student Agencies, the forum focused on the options and opportunities available to undergraduates looking to go into consulting or investment banking.

The panelists also attempted to allay student's fears about job security in the wake of Merrill Lynch's announcement Tuesday that it was laying-off 3,400 employees, or roughly 5 percent of its work force.

"Investment banking and consulting have been by far the most popular [career choices] on campus and are also the biggest employers," said Marc P. Cosentino, associate director of career services at the Kennedy School of Government and the forum's moderator.

The panel was made up of Jill D. Altshuler '84, Carla A Harris '84, Elizabeth S. Hilton-Segel '94, Cynthia Bates and Torrance Boone.

All the panelists are graduates of Harvard Business School and are currently working as consultants or investment bankers.

After a brief introduction from Cosentino, the panelists began by answering questions directed by the moderator and then answered questions directly from audience members.

When introducing the panelists, Cosentino described investment bankers as "finance specialists" and consultants as strategic generalists. Representing investment bankers, Harris, a principal at Morgan Stanley Dean Witter, replied to that definition.

"As an investment banker, you have to understand the strategy of the company you represent," Harris said.

Bates, an employee of Merrill Lynch, said she agreed with Harris.

"Understanding a company's strategy is a very important part of my job," Bates said.

Representing the consulting industry,

challenging as other careers, the rewards in terms of personal satisfaction make it worthwhile.

In non-profit work there is "not a lot of income security, but there is a lot of job security," said Jim Yong Kim, a physician at Brigham and Women's Hospital, instructor and lecturer at Harvard Medical School and co-founder of Partners in Health, an international organization dedicated to improving health in poor communities.

Panelist Diego E. Sanchez '97, executive director of Tutoring Plus of Cambridge, said the salary offered by non-profit organizations is definitely less than that offered by consulting or banking firms, but noted "you can do well while doing good."

Sanchez also reassured students that there is valuable business experience to be gained from non-profit work, as well as opportunities for advancement.