10 Comments
 

yes..in what area? in an office, in their product area etc... you can keep it vague. are you working with a team? or for the "firm"

 

LAWM & Lloyd,

Hope you don't mind me jumping in on this thread, but I have basically the same question. BofA ML private banking as an analyst within the product team for HNW individuals. What the impression/general regard about this sort of position and industry? Additionally, if you could give some info about the difference in general regard between a product team and working as an analyst in a team for a private banker.

Thanks.

 
Best Response

I would say a private banking/PWM role is not generally regarded as the most cutting edge position on the street, however that said it can be a really sweet gig. Your quality of life (as judged by hours worked) is a lot better than the majority of other positions on the street. The scalability of your client base is what makes it worthwhile in the end. Because it is a fee based business you eat what you kill and once you have a large # of assets under your management it represents a great annuity and more consistent form of income when compared with trading or other more high energy roles. If you can enter as part of a team with senior managers it is often a good way to learn and when those managers retire if you have done it right their clients should become your clients.... Just my thoughts....

 

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