IB Analyst vs WM Analyst Advice - just hear me out
Currently, I'm interning as a PWM analyst for a FA at a BB (think MS, BAML) with about $350m AUM. At the moment, I am pursuing two positions post graduation; one as an IB Analyst at a MM (think Piper Jaffray, WF, & Jefferies), and the other as a WM Analyst at a firm that only works with UHNW individuals.
For WM, I've got a solid story because it was my original plan, I enjoy the fact that it caters to my sociable nature (no I'm not implying that you talk to no one in IB), I've got some type of experience with this internship, and with WM I have more of a foot in the door.
On the other hand, I'm interested in IB because of potential exit opportunities and the fact that it makes me more of an asset (polished valuation & modeling skills - etc.).
To sum it all up, I guess I'm just conflicted because I'm torn between something that I'm comfortable with and something that I feel gives me greater career ops and possibly more money.
I'd just like to know if anyone has been in the same situation, or has experience in either field and can offer a little bit of advice. I don't really use WSO, so I apologize if I used incorrect acronyms in my post. Also, I don't care to be berated as I see people doing on other threads. I'm just seeking advice and if you don't have any - don't waste your time.
Sounds like you like wealth management a lot. Do what you like, because you’ll probably do well. In most fields, money comes eventually to those that perform well. But the question should probably be stated as potential pe/hf vs wealth management. Seems like you’re not interested in ib at all. I would choose wealth management in your shoes, but I’m biased. I only went went for investment jobs, and didn’t care for ib.
I appreciate that. I know that I'm way too fixated on earnings, but I just want to set myself up for the best future possible. If you don't mind me asking, what exactly do you do in AM? Are you an analyst?
Fixed income analyst covering energy on the buyside. If you’re concerned about money, if you think you can be comfortable with peak earnings of $500k, then stick with wealth management. I’d imagine that that’s a pretty reasonable end goal once you’ve built up your book. If you want more, you might need to look elsewhere. But $500k in low cost of living is almost the same as $1-1.5 mil in nyc, probably. When you factor in taxes and much more expensive food, entertainment, and rent/house.
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