Commercial Banking Vs. PWM @ BAML
Hey Monkeys, So I have been offered a credit analyst at a Commerical Bank, as well as an Intern Position in BAML's PWM department however my goal is to get into IB so I don't what would be better for my resume?
Thank you so much Monkeys!
In my opinion Commercial banking would be better but there are allot of people who do BAML PWM internships and then recruit into SA classes the following year.
MM Commercial bank vs BB PWM. What offer to take? (Originally Posted: 03/02/2014)
Hi WSO,
I have two offers im trying to decide on.
The first is at a PWM company. Really top tier firm (think JPM, GS) Team based work. Average client is about 5M. My job would be to work with advisers to help on various tasks and projects. I would also be talking with clients daily about their portfolios and working on their financial plans. Will also be getting licences (series tests).
Commercial banking program at a commercial bank. think Wells FAP. It's training me on commercial lending for 1.5-2 years. Then you get placed in a group. I interned here as well.
What are your thoughts on which one I should choose? These are two very different options but i wanted to know your thoughts are. My ultimate goals is really to make loads of money. I could see myself going to bschool if I want to exit and join an ibank. Will likely study for my CFA either way.
Being in PWM is interesting because you are close to the markets and also deal with some very successful clients. Once you get a good size book then you will have one of the best work-lives ever. My position is not a cold calling position and at this firm it does seem like it take 10ish years before you become an adviser. Baking interests me because I get to work directly with companies. Give them capital to grow. Obviously both Commercial banking and PWM are very salesy positions and I realize that. Could i get some pro and cons of each industry. Offers are pretty much identical. PWM offer might be just a hair higher.
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