Private Client Associate Development Program - U.S. Trust

Does anyone have any experience with the PCA development program? Thinking about applying but I want to get a better idea of what it is:

  • Salary, exit opps, the actual experience

  • Is it just a fast track to a salary-less broker position?

  • My top industry choice is sales & trading, but I've been unlucky so far. Do the client sales skills you gain make you a possible candidate to switch over to S&T?

Any advice would be a huge help.

Thanks

 
Best Response
  • Salary is solid, from what I hear 6 figures.....could be wrong though. Exit opps are probably full-time PCA role (if you crush it), but if you know your shit on the investment side, you could make the easy switch to FA at a brokerage or RIA. Don't have actual experience, but you get what you put into it, you're going for the big kahunas $3mm+, not the $500K clients.

  • You're gonna be salary with bonus. Don't think it is recurring revenue like an RIA would have by having a book.

  • Don't think the PCAD position is the initial step to making a career in S&T. Hell you could be a salesperson for a pharma company and trade on your personal account and make the switch if you wanted to. Sales is sales. But the PCAD position requires no trading.

Sent from my iPhone

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”