Weekend Wars: ER vs. PWM
Equity Research (ER) and Private Wealth Management (PWM) two paths many a banking wannabe has taken on the road to Wall Street. Today, I'd like to address these two options as long term career choices.
I remember reading posts on WSO years ago and know that at a different time a question such as this would have gotten me laughed offline. Things have changed, however, and in more case than one I have met people who are far more satisfied in ER and PWM then they WERE in banking.
So let's hear what you guys have to say about the two and which do you see being a better career choice long term.
This Rick Weyman article addresses some interesting points that are often overlooked in regards to ER. Fee-based research firms are nothing new, however, many a young analyst overlooks just how potentially profitable a career in this field can turn out to be if you rack up enough experience and have the requisite entrepreneurial frame of mind.
As far as PWM, I enjoy quoting myself , beating dead horses and long romantic walks on the beach.
Remember, I'm not saying either is an acceptable alternative to your gilded banking dreams. Both can definitely be far more profitable alternatives than people realize.
Since money no longer grows on trees, the premium on free time has widened to spreads unseen since the Tulip bubble days.
I expect to see more and more bankers jumping into these fields going forward.
Perhaps you happen to be one of them.
I am not joking.
Not all ER analysts want to be bankers, bro. I'm interested in hedge funds, and running my own long/short fund .....
SB for Hoover reference, dorsia.
nah just, "RICK ROSS"
wait what? Equity Research has always been a viable career choice, you make it sound as if it is or was a step down from banking. It has always been a matter of preference between working in the primary markets or the secondary markets or of choosing between exit opps of private equity or of hedge/mutual funds. You might as well have said banking is better than trading.
And then you put PWM on the same level? Do you work in finance?
Dude, I really don't think this was a shot at either field but more of an exploration of different paths to the same destination. So many people come to this site and are sitting dead red on TMT at GS and think there are no other ways to get to where they want to be. I'm fairly certain M^3 (or V) wasn't taking a shot at anyone. Deep Breaths...
I'm in S&T not ER, so I didn't take offense, I was more taken back and apparently unaware that there are people that consider banking (TMT or any other group) to be > than anything on the secondary markets side. They're not better/worse, just different.
haha dude there are people here that consider banking > literally anything you could possibly come up with
Felt like this point was firmly addressed in second paragraph.
It never hurts to reiterate my man...I know I would turn down a starting spot on the Yankees for MS M&A wouldn't anyone?
Would toss you a SB for that LSO reference, but I don't have any left...
And another kudos for the Texas connection (whether intentional or not)
My only question is. Big Meech capital > Larry Hoover partners?
Qui quibusdam facere officia et. Alias molestias debitis voluptatem quia. Eveniet vitae accusamus numquam et delectus voluptas et. Voluptatem provident corporis reiciendis aperiam cumque quam.
Perferendis neque nesciunt laboriosam tenetur sed quis deserunt. Quaerat ab exercitationem non quae molestias officiis voluptate. Sed qui dolorem quo sint ipsum. Deserunt repellendus rem voluptas officia. Ab nisi occaecati et suscipit. Veritatis placeat voluptatibus ex natus accusantium.
Eos cumque veniam ut. Dolorum qui ipsa perspiciatis voluptatum. Debitis quos saepe qui quibusdam.
Ab molestiae voluptatem quibusdam molestiae vel numquam consectetur. Rerum qui velit et debitis. Sit quam quia similique dolores expedita eaque quia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...