PWM

I wanted to apply for a PWM internship this summer, but some, namely the MS one I've been looking at, say "Candidates must be in their junior year of a four-year accredited college or university majoring in business, economics or another relevant field."

Is this the case for other PWM internships? I've always had the impression that a lot of sophomores did these.

I always thought PWM was a "cold-calling" BS type of job, but I've been talking to a few people at BBs and they say that the job _can_ be very quantitative and analytical. One analyst was saying he does Monte Carlo simulations using Matlab, and as far as I know this is a lot more quantitative than any excel work that an Ibanking analyst might do.

Im currently sitting on an offer from a PWM BB (GS/UBS/MS), and a boutique consulting firm. I am leaning towards the consulting because I feel like it will be more analytical, but I was wondering if it was possible to take the PWM gig, then maybe transition to IBD or S/T a year or two down the line.

Also, what are some of the exit opportunities from PWM? Do I have a good shot at top MBA after the 2-year program?

Thanks

Decided to make a move from the more technical side of the business to something more sales oriented, PWM. Where can I acquire materials to begin studying for the Series 7/63 licenses? Preferably, something that will get me up to par in about 1-2 weeks(ibank/summer analyst type books).

I know there are plenty of credit-based PWM internships out there, but i mean not all students do it, so doesnt it add some value in regards to big name onto your resume? Assuming you do some legit work and not cold call all day, doesnt it help?

Hey guys,

Given the ongoing bloodbath on Wallstreet, I've been thinking of diversifying my career options by looking into PWM/financial advisory. I understand that PWM is different from investment banking, but I'm wondering if one is considered "better" than the other, or am I comparing apples to oranges?

When I mean "better", I mean in terms of compensation, hours (work life balance), prestige, and exit opportunities. I have the opportunity to join a pwm company as an undergrad that comps 70k+bonus, but I haven't heard of them before. They don't hold any assets, but advise clients on what they should do with their money. Based on the people I've talked to, they have a management team from top schools and recruit from top schools as well (Stanford, Wharton, etc.). Oh, and they have a long waiting list of cliets... That's good news?