JP Morgan PWM or BMO Capital Markets IBD?
Hi guys!
I'm a current undergraduate junior with the option of taking JP Morgan's Private Banking internship or BMO's investment banking for this summer. The career paths I can see myself doing long term (at the moment anyways...these can change) are private banking/wealth management, consulting, corporate strategy, or potentially marketing/brand management but not really investment banking, PE, or hedge funds.
I think that starting with investment banking, especially for somebody who's not sure what she wants to do in the future, is a great way to boost my resume and to learn a lot of transferable skills and I've heard of people going from IBD to PWM, consulting, corporate strategy, etc. In addition, I am curious about investment banking and want to learn more and try it out (if I don't do the 10 week summer program for junior year summer to see if I like it enough, I don't think I will be able to sign away 2 years of my life as an analyst with the insane number of hours required for investment banking).
On the other hand, I would be turning down JP Morgan (the brand speaks for itself). PWM is also a career path I can see myself doing longer term/fits with my skill sets more but I don't like that it doesn't present as many clear cut exit opportunities as investment banking does because I'm not positive I want to necessarily stay in finance industry super long term (might go into consulting or corporate strategy).
Another option I could consider is starting with BMO's IBD for the summer and if I don't like it, go into full time recruiting for JPM PWM again...however, do you know if most people would look down on people who've rejected their internship offer and tried full time?
Any advice would be helpful. Thank you!
As you mentioned IBD keeps your options open more so than anything else. If you won't hate yourself for doing a summer in banking then that's what I recommend.
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