Do I Intern at my "dream job" or commit to WM and my current path.
Hello Apes, I am currently heading into my third year of university with a major in finance. I am currently a Wealth Management intern at a local independent WM boutique firm (think 300-400mm aum). So yes it's not the largest of firms but I managed to get in early since its only be established for 6 years so think of me as part of the "second wave" which will hold high value in the coming years as the firm is expanding very rapidly- will probably reach 1bn aum in the next 10 years max. Not to sound cocky but context is important in this case, I am the last one out of 6 summer interns left standing (either got fired or quit) and would like to think and have been heavily indicated of a return offer for following summer internships and full time offer. Reason being because I can consistently bring in business and always complete tasks, deliverables etc, at a high level compared the the rest of the full time associates. So in summary I am in a good trajectory to become prevalent in the firm in the coming years. I am interested in the WM industry and I believe would be a good fit for my skill set and personality. In regards to the pay, from my projections from information gathered from my superiors, I should make 6 figures relatively soon after starting full time (2-3 years) and then onwards it just exponentially grows from there which opens me up to a comfortable early retirement or I can just maintain my book of business which is not a lot of work compared to other full time roles with similar pay.
I have also been offered a 8 month co-op role to work at one of the big 5 banks in their FP&A team, with one small twist which is I would be working in a different language! I am bilingual and this bilingual role opens a lot of doors to me if I wish to continue on this path. As for the finance side of things, this role would be almost exactly what i've been working towards (a corp Finance role) since it offers flexibility with working hours but still is interesting work that requires some mental stimulation. As well, as cheesy as it might sound, it has been my dream to work for this bank for many personal and career related reasons so you'll just have to take my word for it when I say that landing this internship meant a lot to me, maybe more so than others. It was a sign that my hard work is paying off and that I do have what it takes. It also gives me the corporate lifestyle that I would not be able to get from my WM job. Another plus is that it would look nicely in my resume and would put me in a very good spot financially. Some cons that stem from this opportunity though are that I would have to delay my graduation by a year which also delays starting full time at the WM firm which might put me somewhat behind with my career aspirations and timeline.
It is important to note that I can still intern during the summers at the WM firm. The FP&A role is hybird so I won't be missing out on my current university lifestyle much. I know there are gonna be people making fun on me or my situation or just bantering which idrc about as long as there is some insightful information.
What do you think I should do? Any big considerations that I'm overlooking and if I do take this FP&A role- any tips on what I should look out for? I would also like to take the time to thank whomever took the time out of their day to read this, it means a lot to me.
What makes you so sure that you won't be an intern that gets axed?
Good question, the short answer would be that I can most definitely get thrown out into the street at any given moment but what's the use in thinking like that when I will work my ass off to make sure I don't. Long answer including my work ethic, my past track record, great current performance, have outlasted everyone else and that I'm passionate about the work I do.
Based on the most helpful WSO content, here are some key considerations and insights for your situation:
Wealth Management (WM) Path:
FP&A Role at Big 5 Bank:
Key Considerations:
Tips for FP&A Role:
Ultimately, the decision depends on your long-term career goals and personal preferences. Both paths offer unique advantages and opportunities for growth.
Sources: Exiting Big Four (Audit) after 5 years and entering FP&A - Ask me anything, Is FP&A corporate finance?, Q&A: FP&A Manager at a Technology Start-up, What the f**k should I do guys?, Not sure if Investment Banking is for me anymore
Id possimus non dicta soluta. Laborum voluptas recusandae quis fugit odit. Non quod saepe labore laborum expedita ut sapiente culpa. Qui fugit consequatur praesentium placeat perferendis ex.
Dolor consequatur qui eum unde. Modi in cupiditate rerum ratione et nesciunt sed. Est recusandae et earum. Quis commodi iure ea blanditiis impedit.
Et numquam quia deleniti. Quia aut maxime ab enim placeat quaerat. Et non ullam non. Corporis eligendi qui officia voluptatem error sint. Ipsum ut dolorem earum perspiciatis error nihil.
At consequatur odit consequatur quo ab. Et repellat esse dolorum repellendus numquam ullam ut.
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...