So I'm currently stuck choosing a career....I've nailed down that I would either like to do wealth management (priv or inst) or PE
I've done some reading and come up with these possible routes towards my goals, please let me know if I've misinterpreted them and the likelihood of fruition
Background: First year MBA student with a regional commercial banking ($25+ MM rev annual) internship lined up
Certifications Considering: CFA or CFP
1) Route to WM - CB (5 -10 years) ----> in that time, sit for CFA/CFP, test dependent on what I decide to do ---> WM role
2) Route to PE - CB ----> CFA ----> boutique PE firm
I realize CB is kinda child's play, but the program is highly touted with a strong regional and it bases its program on underwriting of larger than average firms. The analytic skills behind underwriting can be translated to PE...I would only be short on the hands-on portion of responsibilities. WM is more my thing, but there's more of a disconnect from CB there. I'm currently applying/networking for a PWM internship for a BB.
While I agree that CB can be a good route for some, I think you would have a better chance of getting into PE from IB or even consulting. If you really want to do PWM, then go for that, route 1 sounds good but if you want to go PE I think it would be a good idea to try for IB.
I could be mistaken, but I don't think the CFA has any real use for WM. The CFA is more geared towards research/PM roles.
@rothyman - wouldn't CFA help me with institutional WM?
@pike - thanks for the insight!
CFA def helps with wealth management. If you look at investor roles at JPM PB and GS PWM, you will see a number of CFAs. I am not saying that you will use the skills you learned with the CFA as a WM professional at JPM and GS, but in terms of getting in the door it will help a lot.
Also, don't sell yourself short in terms of the skills you learn in commercial banking. Solid credit training can lend itself (pun intended) to careers in IB and PE. I have seen many people go from CB to IB.
what's typical length of experience before I'm best prepared for a transition to IB and when I'll be seriously considered for IB?
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