Bonuses: Private Wealth Management

hey PWM is like backoffice work. what are you just cold calling and doing research for some time?

but man those PWM girls are gorgeous after being surrounded by IBD sharks.

Pwm is all about your network, the associates do the cold calling not the wealth managers it's like vp or md. Position in ibank but without the hours and yet still high salary provided you are managing large client portfolios

so do you get a bonus?

$50 gift card to black angus

Pwm is very much front office NOT back office as some ignorant poster wrote. Back office work is admin and non direct revenue earning work. Understand if you are in pwm you have to be a hunter or a rainmaker if your are good. Ibanking analyst or associates do not get to do that instead they are spread sheet monkeys hoping to be vp's or md's one day which by the way means SALES skills and the ability to CLOSE deals! If you can't do that you will never hit the glass ceiling. I can assure you unless you have that ability you would not survive in pwm. Bonuses need not be as high in pwm since you often earn commission and don't work crazy hours, instead you work smart and actually take long holidays. However initially it's far harder then ibanking because you are judged on revenue you bring in not on meeting deadlines which any hard working idiot can do.

Hahaha right? Nice try justifying getting rejected from banking. Kids with high school diplomas can be FAs. You need no market knowledge and only need to be able to cold call. All you are is a fucking salesman

This comment is directed to leveRAGE. Of course you need market knowledge, if you are talking about the FA cowboy outfits maybe not since they can just stick someone into broad based balanced funds and forget about them but a strong independent advisory firm will have its own team of in house researchers, a dedicated investment committee. Individual advisors are often ex stockbroker ibankers and some ex traders. The ones who are ex bankers in my firm were vp and above with 10/15 years experience typically because they can close! I have a CFA myself which in my opinion is a waste of time and money and wish I hadn’t bothered. By the way disturbingly many ibankers lack market knowledge and will only understand a narrow area of the market. I on the other hand have very broad market knowledge but specialize in commodities and some of my colleagues specialize in equities, fixed income dependent upon their particular background. However broad market knowledge is a requirement otherwise we be pretty useless at what we do hence why we have many senior bankers as clients! It is very apparent by the way you write your comments I am guessing you are young and slightly ignorant but nevertheless do some research. One more thing if you are an investment banker, meaning an actual investment banker and not a spreadsheet or powerpoint monkey (analyst or even an associate) you most probably are a fucking salesman.