WM to Structured Finance
Hello all, would appreciate any insights on how I can break in to SF from PWM(JPM/ML/UBS) with 2 years of experience.
I have done some research and see it can be a very analytical role but not exactly quant heavy. I know WM itself doesn’t carry many technical skills, but I’ve personally dabbled into python/JS/excel and built live projects on each to sharpen myself up. I’m 21 so still relatively entry level but I don’t know how feasible it’ll be to break into SF after being in WM for 2 years. Background is BA Accounting, not looking to do MBA now. Location is NYC.
Breaking into Structured Finance (SF) from Wealth Management (WM) is definitely feasible, especially with your proactive approach to building technical skills. Based on the most helpful WSO content, here’s a roadmap tailored to your situation:
1. Leverage Your Analytical and Technical Skills
2. Position Your WM Experience Strategically
3. Network Aggressively
4. Tailor Your Applications
5. Consider Additional Certifications
6. Be Persistent and Patient
By combining your WM experience, technical skills, and networking efforts, you can position yourself as a strong candidate for SF roles. Keep pushing forward—your proactive mindset is already setting you apart!
Sources: How PWM really works (part 2): Breaking In, Staying In, and Getting Out, Private Funds Group (CS/UBS etc), Which Offer? IBD Originations: Structured Finance or Public Finance?, Transitioning from tech to a serious finance job (yes, you read that right), How PWM really works (part 1): past, present, future, and $$$
Limited overlap between the two really but probably best move is to highlight analytical work you’ve done or anything related to structured finance (really stands out as not many people have structured finance experience). Could practice building an ABS/CLO waterfall structure in Excel using ChatGPT for guidance and will help to learn a lot and could put on resume as a project to stand out. Most 21 year olds aren’t set on working in structured finance because it is quite niche and people in the asset class are very generous with their time, especially if you show a genuine interest in the product. Rating agency SFG is always back door after a few years but should be plan B and also not a cake walk to get in there either. Networking is definitely the best first move to learn more and try get a referral. Curious how you have 2 YOE at 21 though. When did you graduate college?
hi, thanks for the reply! i’ve had a little SF exposure like really minimal but its good to know even a bit can go a long way. i graduated this past june in accounting & finance. my 2yrs exp isn’t just WM, sorry for not being clear: almost a year in retail banking at JPMC, then BAML in consumer investments (got my 7/66), and now at UBS assisting wealth managers. it’s at UBS that i realized i might actually enjoy SF. some of our HNW clients have access to structured products, and i’ve sat in on meetings where abs/rmbs etc came up and it just caught my interest. Also i would add I already developed a liking for debt,capital markets, lending etc. while studying for the licensing exams. And also what i like about SF is that even tho it’s niche because it’s not as common it feels transferable across SF desks, potentially IB/CB(not sure about these), etc. so it has that job security. Please correct me if I’m wrong on this. when you say rating agencies, do you mean strictly the big 3 or also kbra/morningstar type firms?
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