Private Wealth Management vs. Investment Banking
Hello,
I am currently an undergrad in my sophomore year. I have just accepted my Private Wealth Management National Internship offer from Morgan Stanley. It is a summer internship through their National Program so I hope that if I do not like PWM that I will be able to network through the program to obtain opportunities in other fields within Morgan Stanley (IB, PE, etc.).
I am currently interested in pursuing an Investment Banking internship next year. Do any of you have advice on whether to pursue a life in IB or PWM? Any advice on how to network in Morgan Stanley PWM for a Morgan Stanley IB internship?
Thanks





"Do any of you have advice on
"Do any of you have advice on whether to pursue a life in IB or PWM?"
What the fuck
"I'm the luckiest guy in the world, and when I die I want to come back as me."
-Mark Cuban
Only way to know if you want
Only way to know if you want to do something is to do it. Try out the internship for PWM and hopefully you can get a IB internship next summer. When full-time comes make your choice.
Alert Alert: Influx of
Alert Alert: Influx of trolls/users with low IQ/ability to use search function in progress.
Beware WSO.
To avoid any further damage to your system:
1. Do not read beyond "I am in love with ibanking/related BS".
2. Through MS.
3. Close tab.
The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.
@Powa23: thanks for the
@Powa23: thanks for the advice.
@SonnyZH: I apologize for the inconvenience. I will be sure to check out the search function for related questions.
Op, stick to PWM.
Op, stick to PWM.
"History doesn't repeat itself, but it does rhyme."
@Streetwannabe: Why do you
@Streetwannabe:
Why do you think I should go with PWM?
Not sure why PWM gets so much
Not sure why PWM gets so much hate.
You work less than 40 hour weeks from anywhere in the world with an internet connection assuming you go boutique/independent
ML/UBS PWM is a joke though
PWM=less compensation and
PWM=less compensation and less work IB=substantially more work and substantially more compensation, depends on what you want
"Well, you know, I was a human being before I became a businessman." -- George Soros
Futures Trader Man: PWM=less
PWM=less compensation and less work IB=substantially more work and substantially more compensation, depends on what you want
I could not agree more. Investment Banking offers great compensation but few people go into IB to stay in it for the long hall. The majority of people enter the field for the exit opportunities like HF/PE. PWM offers a more stable life style and if you are successful enough, you may be able to make way more then IBankers but that is rare.
To be honest, I do have my eye on the money as most people in finance do. I do not mind going through hell for 6-8 years after undergrad to obtain a substantially rewarding career although at some point in my life... I would like to have a life. Or at least not work 90-100 hours a week. Knowing this would you recommend entering PWM and busting my ass off early to develop a solid AUM or would you recommend entering IB to exit for PE/HF?
On a side note many people enter IB to get into a top notch MBA program and then move on to other endeavors. Would spending a few successful years in PWM at a BB provide someone with the necessary credentials to enter a top MBA similar to doing IB would?
Roxborough: @Streetwannabe: W
@Streetwannabe:
Why do you think I should go with PWM?
I'm being very sarcastic. Perhaps it may be something you want to do, but to me it is just not a very attractive job.
"History doesn't repeat itself, but it does rhyme."