Most Helpful

this will be biased based upon where I work, and since I've never worked in PB, firms like JPM, GS, CS, Northern Trust, etc., will be excluded. also because independent shops have so much spread, can't make broad generalizations there

tier 1: merrill, ubs, morgan - head and shoulders above the rest in terms of resources, talent, brand recognition. all top brokers that aren't independent work here, with limited exceptions. some will argue that morgan and merrill are above ubs or that morgan is above merrill, but I think that's splitting hairs, this is top tier in PWM, within the top is the same arguments about IB between GS/JP/MS depending upon group.

tier 2: wells fargo, ed jones, stifel, rbc, truist/scott & stringfellow, some others I'm probably forgetting - a notch down from the first tier in every quantifiable way. will have less intense cultures most likely but less access to top money managers, less resources in just about every sense of the word

tier 3: insurance companies, including nw mutual, ameriprise, etc.

if you have specific questions, please let me know. I've taken business from every firm on this list and while I've only worked at 2 mentioned, I can give more insight, I'd just rather answer specific Q's than ramble 

 

Amazing answer and really all I was wondering - thanks so much.

Morgan and Merrill make sense akin to GS/JPM but I’ve just always been curious.

Are the career comp rates comparable to that of IB? Would you be willing to provide a breakdown from advisor/analyst to MD (or whatever PWM would call them, SVP(?))?

 

Dolorem aperiam rem rerum officiis. Sunt blanditiis officiis tenetur amet rerum accusamus. In dolorem ipsa dolorem voluptate dolor rerum. Possimus architecto iusto asperiores. Libero perspiciatis eum hic.

Maiores similique placeat sint ut eligendi suscipit. Consequatur omnis quo velit quos deserunt voluptas et. Vitae omnis debitis optio perspiciatis.

Dolorem temporibus occaecati laudantium alias. Nihil et praesentium reiciendis harum quia. Error temporibus non aut ut numquam itaque voluptatem. Et dolore accusamus accusantium adipisci voluptatibus.

The poster formerly known as theAudiophile. Just turned up to 11, like the stereo.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (65) $168
  • 1st Year Analyst (198) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
98.9
5
dosk17's picture
dosk17
98.9
6
CompBanker's picture
CompBanker
98.9
7
GameTheory's picture
GameTheory
98.9
8
kanon's picture
kanon
98.9
9
DrApeman's picture
DrApeman
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”