Comments (19)

Apr 26, 2010

PM me... i did pwm w another BB in LA during my freshman yr

Apr 26, 2010

The interview might not be too technical, but rather very personality oriented due to the heavy interaction with clients.

Apr 26, 2010

You'd better know why you want to do PWM vs IB because they know they get a lot of IB kids coming through who are just using the position as a "backup" in case they don't land a FO IBD gig. That said, I interviewed at this office in Fall and found the office to be pretty sweet, the people to be very welcoming and genial and the overall business to be doing well. However, it just wasn't right for me in the end and I think that showed through a little bit. No technical questions were asked at all, just behavioral like "describe a time when you had to work with someone difficult" etc... basically they assess fit and level of interest in PWM above anything else.

PM if you want more specs.

Apr 26, 2010

Well, how about looking at the AuM rankings and considering the romours about its sale and reconsidering your question.

It has almost twice as much assets under management as GS has, What do you mean? Operational differences? Strategic differences? Structure of the division?

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Apr 26, 2010

Quick question
Are you planning to quit your PWM position in BB to move to DB? Or are you trying to have 2 jobs during the summer?

Apr 26, 2010

Why do you ask?

Apr 26, 2010

In the FO. lol

Apr 26, 2010

The pay at entry level is maybe 70k-80k. The pay with experience is mostly comparable to any other portion of the investment bank. Star traders and bankers have the potential to make more, but the are few and far between and will depend on the cycle. When I say "star", I am referring to no more than 15 people within the banks on Wall Street.

A private wealth position at GS, MS or DB is very hard to get, and you should consider yourself lucky to land the job. It is not a typical brokerage position. You will be working with a team of professional serving an established book of business. Eventaully, you become reponsible for bringing new business in.

The work is not easy and the business is very competitive.

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Apr 26, 2010

pay is slightly less but is commision based

Apr 26, 2010

I didn

Apr 26, 2010

is private wealth management the same as global private client? i know Merrill's GPC is for clients with over half a million net worth.

Apr 26, 2010

Yes, GPC is same as PWM.

Apr 26, 2010

The PWM I am referring to is the groups that work with individuals that have a minimum of $5 to $10 milion of investable assets. MS and GS have two of the best practices in this area. Anything less is "financial advisor" territory.

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Apr 26, 2010

So ML's GPC is "financial advisor" territory? Being easier to get into but not as lucrative? Is DB in the same league as GS & MS?

Apr 26, 2010

i know someone at GS pwm. from what i gather, it's not half as flash as what's said here

Apr 26, 2010
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