MS PWM experience, valuable for ib?
Thanks in advance for the help!
Work should mostly be prepping memos/doing research+portfolio allocations.
Not much cold calling as far as I know. (btw job contract should have title as PWM intern or some variation, not Part-time intern)
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Are your ib and dcm internships paid?
Yes they are
If you like personal finance and wealth management type of stuff then yeah sure go for it. I did multiple of those kind of internships part time during school and always enjoyed them. Learned a lot and kept me up on what was going on in the markets. Also made some great long term connections.
Sound advice! I am interest in the markets as well (possibly interested as am/hf as an exit opp) so i guess pwm would be a way to learn a bit more about portfolio management
bump
For sure, the brand name will do well for screens if you already have two boutiques lined up/on the resume.
thanks, no problems with doing ib>pwm>ib right? Doesn't show that my interest in ib weakened?
No. You can spin it as wanting to get professional work experience in a structured and more corporate program with a larger company. The interpersonal skills and data analysisvisualization skills will be useful for SA too
I did something similar and it never really came up as an issue. Some interviewers may ask why you did IB and then PWM, but if you have a good story explaining why, they generally will not push, especially since you have experience in IB already. It also is always good to have a broader range of experiences just for the sake of career exploration.
Second this, also if it’s during the school year honestly it can be as simple as just that - saying it was a way to have some income during the school year aside from your studies, kept you involved in the markets. It shows maturity and time management. This really can’t work against you at all as you have IB experience, and people know you can’t do IB during the school year. Good stuff.
Don't do it and spend the entire time either putting more effort into networking or building your resume through school clubs. The internship is a good learning experience in the sense that you'll learn more about how wealth management works but you probably won't get anything technical and transferable to investment banking. PWM is almost entirely a sales role but you do learn a lot about how FAs build their businesses and conduct financial reviews for their clients.
This is coming from someone who has both worked in PWM and IB.
i'm kind of decked out in terms of school clubs - can't really get much more out of them in terms of resume/practical experience/leadership. Also, hearing from past interns, I should be able to network during the internship (2-3 calls a day no problem). If the work according to past interns has been pretty fruitful, should i still just not do it and focus more on networking for junior summer?
Absolutely. The way I see it is that if you already have a full resume (IB internships, school clubs, etc.), you should be solely focused on getting it out to as many people as possible that junior internship. If past interns mentioned that you can network during the internship no problem, then whats the point of even being there? Plus the commitment of having to be in the office once or twice a week can add to an already stressful semester.
Theres more to this whole thing than work experience/finance related extracurriculars. your summer internships are plenty - focus on networking and spend your spare time volunteering with an eye towards assuming a leadership role in a nonprofit. This will pay dividends if you decide to apply to b school and will also help you build your professional reputation long term.
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