Hey monkeys, I will be an incoming PB FT analyst at JPM next summer. I noticed on WSO, private banking is downgraded and depicted to be a crappy job that doesn't hold any value. Wonder what the reason is and if the stigma still is there? - and if it would affect me if I choose to leave after a couple of years. Pay is in line with first year IB analysts so I'm not sure why it's so crapped upon…
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Welcome to WSO, everyone is a prestige whore about everything and PE is all anyone cares about. Working in GS IB will also not be enough, you have to work at GS TMT to be "prestigious" on here.
Private banking is a great job, and you can make a very solid amount as a senior if you choose to stay in the career. The ratio of pay to WLB is great, and if you like advising clients and are talented at it you can make a lot of money. There's some opportunity to move elsewhere (some spots within AM or investor relations for example) but if you ever wanted to get into IB you would need to switch with an MBA.
On WSO, a job doesn't lead to MF PE it is shitted on, but truthfully this is one of many finance careers where you can make a great living without the lifestyle described on this forum
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