trying to escape my current misery- is PWM or Private Banking the answer?
So I work at one of the major players in Asset Management right now but don't particularly enjoy my job (ok it's more like I hate it). I've been thinking for a few months now of switching to something with more client interaction. I'm a people person and enjoy sales. I have also been very interested in personal investing, financial planning and entrepreneurship. I would like to pursue my CFA starting with level I this year. I have been thinking PWM might be a good fit given my background in AM and my interests. There are a few questions I have for anyone who works in the industry currently (or knows a good deal about it).
Who are the biggest players in PWM or Private Banking? What does their pay (for analysts) and typical hours look like (very important to me)?
What are the pros and cons of each firm? Which has the most client interaction?
JPMorgan and Goldman Sachs are probably at the top.
Not sure as to your other questions though.
PM me. I'd be happy to give you some insight.
Also, let me know a little but more about your past experience - how many years, where, what, etc.
kenny powers, is AM more technical and less client interaction then from your experience?
You will probably hate PWM as much as your current job. I don't see how you will get a different experience.
Libra, depends what division you are in. A lot of the portfolio management for large institutional investors is very technical and fixed income oriented. Client interaction is done mostly from the relationship managers in the Accounts Management teams.
LAWM, why do you say that? Clearly the two jobs are very different. I just want something with much more focus on sales/relationship management than quantitative/analytical skills. It is just what suits my interests more.
why don't you try lateraling to the account management side within your firm?
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