I've saw that many freshmen did a private wealth management internship during their summer, and although they didn't learn anything particularly "useful", it did help in the long run. However is an internship for private wealth management typically paid or non-paid? If paid, then how much?
The Benefits of a PWM Internship as a freshman
Completing a private wealth management internship your freshman year is a good way to show an interest in finance. It's functionally a resume building internship. It provides you with opportunity to put a recognizable name on your resume as well. Shooting for a bigger name is always better but don't be afraid to accept a "Tier 2" firm.
You can often find these types of internships on your campus recruiting site and job boards. If there are none available through these avenues then try emailing managers at all your local firms. These positions can pay anywhere from nothing to 15 dollars an hour. Pay between the 8 and 10 dollar range seems to be the most common.
from certified user @ZIRH
I did a Merrill Lynch PWM internship during my freshman summer before sophomore year in Beverly Hills. Didn't do much, but learned alot about capital markets and retirement planning, muni bonds, and alternative investment.
Great resume builder, went to get a boutique bank internship then landed myself a SA gig with a good MM shop. It was unpaid, and parking in Beverly Hills was extremely expensive, but I knew it would help getting me to somewhere else, so I stuck with it.
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