What To Do Before PWM
What experience do you think is necessary or just beneficial to have before getting into PWM? I'm pretty sure I've decided that's what I ultimately want to do. Right now I'm working in a BB doing Operations for the Investment Bank.
What kind of position should I be aiming for that would give me good experience and a good shot at PWM? I'm favoring PWM over PB.
Basically, right now I'm entry-level IB. Would it be any better for PWM hiring if I was entry-level Asset Management? They're literally a 5 minute walk from me.
Also, I've read that a CFA won't really help for PWM. Is this true? I thought that it would. Would the CFP be a better option for PWM? How about MBA (not top-tier)? I've done my research on WSO and I know that what they really care about is SELLING. I'm good at selling and have some experience with it. I truly believe that I'd do well. I just want a salary I can live off of, as well, to get me started.
I'm 25 years old right now. I know that late 20's - early 30's is a better time to get in, so I'm trying to position myself to make that move in a few years.
Advice? Also, what are the compensation packages like? What is the base salary? How does commission work? etc.
Thanks in advance for your help.
You need to know people... lots of people. Do you have many wealthy friends (of the family) or relatives? That really is the most important thing. You don't want to get stuck as a PWM analyst.
Honestly, no. I don't come from a rich background whatsoever. Is that really the only way to make it? Can't I become associated with these people later?
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