GS PWM SA Experience?
Does anyone have insight into what the GS PWM summer internship looks like, specifically in the Capital Markets Group? Long story short, I spent most of my time interviewing and networking for IB but didn’t make it through the process. However, I was offered a PWM superday and ended up having success. That said, I don’t have as much insight into the actual responsibilities and day-to-day work, so I’d love to learn more from anyone with experience.
Based on the most helpful WSO content, the Goldman Sachs PWM summer internship, particularly in the Capital Markets Group, is structured and provides a mix of training and hands-on experience. Here's what you can expect:
Training and Investment Exposure: The summer program focuses heavily on Goldman’s investment platform. Interns are trained on various investment vehicles, including equity, fixed income, cash products, and alternative investments. This includes exposure to internal strategic investment strategies and staying updated on market events.
Sales and Client Interaction: While PWM is primarily a sales-driven role, the summer internship includes sales training and exercises like prospecting and creating business plans. Interns may also interact with current clients and learn about the sales process.
Networking Opportunities: Networking is a key component of the internship. Interns are encouraged to connect with as many professionals as possible, which is crucial for success in PWM.
Day-to-Day Responsibilities: Tasks may include assisting with portfolio reviews, asset allocation, risk modeling, and trust & estate planning. Interns might also help with pre-transaction planning, pitches, and coordinating between clients and specialty groups within the firm.
Capital Markets Group Specifics: If you're in the Capital Markets Group, you might focus more on trading and rebalancing portfolios, working with options, structured notes, stocks, ETFs, and other financial instruments. You could also assist with flows in and out of managed accounts and field client requests.
Structured Reviews: Interns receive formal reviews at different points during the summer, which helps track progress and provides feedback.
This internship is a great opportunity to gain exposure to wealth management and develop a strong foundation in financial markets, even if your initial focus was on IB.
Sources: Private Wealth Management/Private Banking Guide for Associates, Goldman Sachs PWM Financial Analyst, Freshmen: What to do during your freshman year summer, GS Private Wealth Management post MBA, Asset Management vs Investment Banking 101
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