so I still don't understand why working at GWM is not considered as prestigious as working at an IB position or PWM position. I feel it should rank at par or maybe even a lil higher because to be successful at it you would have to put in an extreme amount of work plus you are able to transition to having a normal life within 4 to 5 years of starting out. The income you make is not bad either...Its very foreseeable to make 1mm+ in this industry and work a 40 hour week....so again why is it that Gwm isn't considered an elite department?
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Usually because GWM clients don't need to have as much money in order to qualify and because PWM doesn't involve cold-calling
Well, it really depends on the PWM shop.
It comes down to what you're actually doing. Yes, it's hard to be successful in GWM (or PWM, for that matter), but it's pure person-to-person sales. In IB you're working on multi-million and -billion dollar deals that are making the front page of WSJ (some of the time). It's prestigious, as much as I hate to say it, and IB has far better exit ops.
That said, if you like GWM and are good at it, fking do it. you can definitely make in the $1m+ category, and if you're in the business for 10+ years, you're probably making at least $200k per year.
oh okkk I guess i can see the WSJ aspect and i guess the more work people do the more elite that position is going to seem. Cause for me i think it is a very elite position...Im an FAA at Mssb and honestly i do feel very prestigious to work at a firm like this. I put in a lot of work, see numerous millionaires, and work alongside guys who are featured on cnbc and make over 4mm while traveling all over
simply put, the people in IB work on things that are higher up the financial food chain and therefore make more money. just because you do well at X doesn't mean you couldn't be doing better at Y.
......
btw i wasnt saying i made 4mm...i was saying i was next to that guy...lol i wish i was though
Shit, if you love it, don't let anyone fuck with ya. It's the people that like their jobs that are usually the most successful, so I'd just keep tearing it up and working harder than anyone else around.
And, yes, to the general population a job in GWM at MSSB is considered very good.
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