Should I Intern at UBS Wealth Management or BofA Merrill Lynch Global Wealth Management

Hi, I'm currently a sophomore at a Target school and am looking to break into the IB field at a BB upon graduation. I have 3 possible internships this summer:

  1. UBS Wealth Management Intern - not sure if paid or not
  2. Bank of America Merrill Lynch Global Wealth Management Intern - Unpaid but can be used for college credit
  3. Bank of America Merrill Lynch Private Wealth Management Intern - not sure if paid or not

Which would you take and why? Should I go with UBS or BAML, and why? My goal is get an IB internship the summer after junior year and was wondering which of these internships would best help me achieve that.

 
Best Response

UBS is the better firm but most wealth management roles are dull. Then again you're a sophomore so it may be a good opportunity to improve your resume. You have to decide the value of $ and school credit for yourself... we don't know your situation.

During undergrad I interned at Merrill Lynch in WM. I learned that I never wanted to do it as a career.

Try applying for JPM or MS internships. I think they will have the best IB future.

 

Depends entirely on the PWM Group that you are interning with. Ask about the specifics of the role and what the brokers are going to expect of you. You don't want to get into a wealth mgmt internship where you are doing marketing - cold calling, identifying potential clients, etc.

You want a wealth management internship where you're looking into portfolio mgmt, analyzing risk, etc.

Both BofA Merrill and UBS are getting high ratings on InternshipKing.com. Also, both are strong brand names on the resume.

it's good that you're a sophomore and not a junior as this does line you up well for an investment banking internship next summer. Good luck.

www.InternshipKing.com - 2,500+ Reviews & Salaries from former finance interns
 
ConsultingRockStar:
BAML. UBS is going to shiiit.

To be fair, UBS IBD drags the rest of the firm down, their AM/PWM divisions are actually quite strong and well respected. Obviously the under performance of the IBD sector is going to take a toll on the reputation of the overall firm but its not as bad as people make it out to be

 

take the UBS gig, its a top 5 franchise in the US and the #1 in the world. like you said, better networkig ops esp with the school network you have in city. plus, you're only a sophomore and money at this point doesnt matter - you'll spend most of it on rent/food, and you should enjoy the rest of it on going out + events (concerts, museums, whatever floats your boat).

 

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