I have an in-person interview with JP Morgan Private Bank / Private Wealth Management for their 2010 PWM Analyst Class.
Background on me: Senior Sociology student at top 3 public university. Marketing Consultant for our University Health Services, Advertising Chair for my freshman year dorm council, Lead Marketing Member of Advertising and Marketing club, and a Volunteer at our Student Scholarship Fund. I have also worked for Citi Smith Barney (2008) and Bank of America/Merrill Lynch (2009) as a Global Wealth Management Summer Analyst.
Does anyone have any good advice on interview topics that I should know for PWM? Questions? Teasers? Fit vs. Technical?
Any help would be really appreciated since the interview is on Tuesday.
Thanks!
Market-know where it has been, why, what has brought us off the "brink", know current economic indicators and what they mean
Be able to pitch a few investment ideas, be it an equity, a bond, commodity, etc.
Most of it was behavioral questions, be able to nail those.
Know what TIPS are etc. If you're interviewing for a product desk know about those specific products. Hope this helps.
Investment ideas? So have a stock or two to pitch?
TIPS?
Have a stock or two, maybe even make one a short. Just make sure your logic is sound, that's all they're asking for.
TIPS=Treasury Inflated Protection Securities. They are like treasuries, just adjusted for inflation so you don't lose purchasing power.
Well rounded? You gotta know finance as well to be considered well-rounded. Nevertheless..
They will ask you about bond funds. Be prepared to tell them why they are not a good investment at this time and what alternatives you would recommend, whether ETF or Indexed Funds.
Brush up on finance.. it seems like you need it. Know that TIPS investors demand a liquidity premium and conventional bond holders demand an inflation risk premium. Say how they understate/overstate break-even inflation respectively.
Read WSJ, FT etc. for market trends. Stay on top of the news.
Best of luck.
pwm?
are u a girl? if so just be hot
How do these people get interviews? GPA??
just be personable, a lot of fit
Personable, got it! And to answer you LAWM, it's the fact that I'm not a Business major and not a Finance/Math major that they like. I'm more well rounded. I study Sociology while have worked in brokerage and have advertising and marketing experience.
What do I bring to the table? To ability to relate to a wide range of people, thus making me an excellent team player.
i need some advice quick! anyone know about jp morgan checking work history? the dates on my internship with ubs were a month off. this is my current employer so will they even check?
Ins't PWM the same as GWM? So if you worked at BAML, wouldn't your knowledge/skills be virtually transferable?
Not exactly. Global Wealth Management really looks to take accounts $1 million and up. Private Wealth Management looks to take accounts between $5 and $15 million. They operate on completely different business platforms as well. GWM is mainly cold calling and giving limited investment advice. PWM is more analytical (excel, morningstar, zephyr, bloomberg terminal, analyzing balance sheets). Also, you're dealing with a completely different type of client--a more rich, sophisticated, and riskier person.
GWMbrosef: How did you get the interview? Were you referred or did you simply apply online?
JP Morgan PWM Associate Interview Coming Up - Need Help (Originally Posted: 02/24/2010)
I have a question that I need answered quickly. I've been called to interview as a 1st year associate with JP Morgan PWM in NY.
1) How many rounds are there in the interview process. (Im a recent MBA who is changing from another Financial Services Industry) 2) What is the average compensation? (Starting Salary & Bonus) 3) What should I expect during the interview process. Is the first round very technical? What type of questions do they ask.
I am interviewing for about 4 hours with 4 different people. What can I expect?
Any help would be appreciated.
I just had the same kind of interview at the analyst level. I have my second round tomorrow assume the snow doesn't shut down the world. I had 5 interviews in about 4 hours. Mostly behavioral questions "Tell me about yourself" "Biggest weakness" "why JPM". They really seem interested in how you add to the "intellectual capital" of the firm.
Thank You!! Do you have any idea what they offer for a Newly Minted MBA at the Associate level? I'm hearing the range of $110 - $130K or so, with $60K bonus. Is that true? I'm already in a different industry. Also, Tomorrow can you post how your second interview went. I want to know if that one would be more technical.
Thanks!
I don't have any number details for you but from what i hear those are about right. I will post how the second interview went for you.
So the second interview went well i think. It was a lot more of questions about my fit for the position. I was asked to describe the position in my own words. Why would I be successful in the position. A little but about asset management. Asked how i would set up a portfolio for people. But nothing really technical. Both interviews were very short only about 30 mins each. One was on the phone due to the snow which almost kept me away but hey 24inches in jersey? I can beat that. PM if you need more.
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