HOW TO: Move into IB/ST from PWM ?
Recently, I have been offered a 6-month internship in Wealth Management at a BB in Asia. I'm in my third year of a four year double degree program and this will be my first internship (not normal where I'm from to have summer internship for first and second year students). In my fifth year I'm planning on doing a MSc in Finance. My goal is to eventually work in IB or S&T, and hope to be able to leverage this PWM internship to attain this goal. 1. If you have ever done a PWM internship yourself, what were your main tasks? (I know mine, but curious about what the others did). I'm scared mine might be too administrative and since I eventually want to move into IB/S&T, I would also like to get more finance-related work, and therefore I am planning on working hard to finish my tasks so that I can get more (finance) work. I definitely don't except there to be any valuation work, which would be more IB-related, but that won't be a problem as that's what I'm already studying at university. 2. What skills from an internship in PWM could be transferable to internship in S&T and eventually IB? 3. Would it be easy to network within the company? 4. Do you think your PWM internship help you get S&T/IB internships at other BBs?
I don't think PWM is transferable to IB. That being said, any internship you can put on your resume helps to some extent and you gotta start somewhere. I think everyone should do an internship in PWM for nothing else but to gain some experience on how to manage your own financial assets plus learn some tips on taxes. You will need to heavily network to get a shot at IB. Make sure your resume has plenty of extra curriculars, good GPA and really have a story to sale yourself when networking.
Maybe take the CFA for S&T transfer... IB transfer sounds a little far fetched although i'm sure there are some folks that managed to make that transition.
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