Exit Opportunities from Private Banking
I'm a recent college grad looking at an offer from the Private Banking division of MS/ML/UBS/GS. What are some exits say 3 years down the line? By then, I would be licensed and all.
You can go into Asset Management, which is basically the same thing, only for institutions, but the pay is much better. Or you can stay a PWM, with a title like VP or something. You can go back to b-school for your MBA,or you can start a boutique PWM firm.
Yes, we know what asset management means, and asset management includes hedge funds. You will not be going from private banking to a hedge fund. More likely you will go from private banking to a ride operator at Busch Gardens.
http://www.drmarkklein.blogspot.com/
HEY! A lot of private bankers went and became successful.
PB Private Banking Analyst Exit Opps (Originally Posted: 10/24/2009)
Does anybody have experience or knowledge of exit opportunities after Private Banking at a top BB analyst program??
bump
You can definitely make a career in wealth management if you start as an analyst. And, if you're good enough, you won't even need an MBA. The hours as an analyst are good (60-80) and pay, although not as good as IB or PE, is also higher than 95% of jobs out there.
You can definitely make a career in wealth management if you start as an analyst. And, if you're good enough, you won't even need an MBA. The hours as an analyst are good (60-80) and pay, although not as good as IB or PE, is also higher than 95% of jobs out there.
The skills you learn in a BB PB analyst program depend on which role you fill in the PB (client-driven vs markets/portfolio-driven), however you will generally be doing the same job across the board, consisting of whatever will save time for those senior to you. This can be qualitative or quantitative, but nothing beyond the basics of finance.
Your exit opps are usually another PB/PWM firm or business school - in rare cases moving into investor relations. PB will not lead to a hedge fund/PE role, however it is common to attempt a CFA (clients like letters after your name) and rebrand to appeal to an AM firm. Exit opps do not generally extend beyond those options.
does anyone know of a company like JPM would pay for MBA after an PB analyst role? obviously if they want you back for associate..
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