GS PWM vs no name IB

investmentpimp's picture
Rank: Monkey | 46

Rising jr @ target, trying to squeeze in one last experience before recruiting (so this would be a fall internship) and lets say I had to choose between GS PWM and a no name IB. What should I choose? My prev. internship experiences would include startup, F500 Business Analyst and PE by this Fall. All of my prior experiences, with the exception of F500 gig, lack a strong brand name so should I go ahead and try to get GS on my resume or would doing something in PWM instead of IB fuck me over?

Comments (14)

May 23, 2013

Either could work but if you want to be a "baller" like all the WSO tards go to megafund or top PE shop than you will probably need a HBS or Wharton MBA thrown in there after 3/4 years.

Is your no-name in New York City? Because you can network your way up and keep switching to better banks every year that way.

May 23, 2013
anybankeratall:

Either could work but if you want to be a "baller" like all the WSO tards go to megafund or top PE shop than you will probably need a HBS or Wharton MBA thrown in there after 3/4 years.

False, black bear.

May 23, 2013

You're jumping all over the place: startup, corp fin / BD, PE, PWM, IBD. If you want to work in IBD as a junior SA, I'd take the IBD internship this fall to get some focus and a logical story you can tell in interviews.

May 23, 2013

It looks like you're jumping around a lot in your previous internships; however, I don't think this is necessarily a bad thing, since you can spin it as "testing the waters" and "seeing what really interests you".

I would normally recommend the IB, but in this case GS PWM looks to be better. It sucks, but a lot of firms will love the GS brand name. Personally, I know a few people who were in UBS wealth mgmt and went to BB IBD the next year. It's all about how you spin it.

May 23, 2013

If you want to do IB then do IB. PWM is a completely different ballgame. While you probably wouldn't be doing anything of real value for either firm you'll at least be exposed to IB if you choose that position.

May 23, 2013

I'm going to be the voice of dissent and suggest gs pwm. I know and know of people did gs pwm as a sophomore, did the internal transfer thing to gs ibd their junior summer.

plus with your experience+gs name brand+target, i wouldn't be too worried about landing interviews as a junior if internal transfer doesn't work out.

May 23, 2013

work experience wise, IB is better. but then again i knew several kids with sub par internship experience before but had Goldman PWM and literally cleaned the floor with OCR. they got almost every single BB and MM/elite boutique that did OCR that year because they had GS on the resume.

if i could re-do it and was in your shoes and already have F500, PE and start up (you're all over the place so have a logical explanation for explaining why you cant decide where you want to rest your cock) i would just take GS because your resume is already screaming finance and wanting to go into IB as a launch pad.

May 24, 2013

GS has a very well institutionalized and formal internal mobility program where you can transfer divisions/groups after 2 years. Personally know of two former PWM analysts - one switched to Securities (S&T - electronic trading) and another to IBD CRG, and both said the process was painless since GS makes a big effort to retain junior talent even if it means letting those people switch divisions. Would take GS in a heartbeat.

Disclaimer: I'm sure this is not the case with many other banks. If you're mentioning GS PWM as a case where you have an offer you should take the advice I gave above but if you're giving a hypothetical example where by GS you mean any large bank you should reconsider.

May 24, 2013
ricottacheese:

GS has a very well institutionalized and formal internal mobility program where you can transfer divisions/groups after 2 years. Personally know of two former PWM analysts - one switched to Securities (S&T - electronic trading) and another to IBD CRG, and both said the process was painless since GS makes a big effort to retain junior talent even if it means letting those people switch divisions. Would take GS in a heartbeat.

Disclaimer: I'm sure this is not the case with many other banks. If you're mentioning GS PWM as a case where you have an offer you should take the advice I gave above but if you're giving a hypothetical example where by GS you mean any large bank you should reconsider.

Do you know if the internal mobility program still applies to regional offices? Also is it only part of the structured program? I don't think my potential internship in the fall will be a structured one, but I'm not sure.

Alright guys new scenario, it seems that the GS name is good for getting interviews but lets say I can get interviews regardless of what I do this fall, then the IB would probably be better right?

May 27, 2013
investmentpimp:
ricottacheese:

GS has a very well institutionalized and formal internal mobility program where you can transfer divisions/groups after 2 years. Personally know of two former PWM analysts - one switched to Securities (S&T - electronic trading) and another to IBD CRG, and both said the process was painless since GS makes a big effort to retain junior talent even if it means letting those people switch divisions. Would take GS in a heartbeat.
Disclaimer: I'm sure this is not the case with many other banks. If you're mentioning GS PWM as a case where you have an offer you should take the advice I gave above but if you're giving a hypothetical example where by GS you mean any large bank you should reconsider.

Do you know if the internal mobility program still applies to regional offices? Also is it only part of the structured program? I don't think my potential internship in the fall will be a structured one, but I'm not sure.

Alright guys new scenario, it seems that the GS name is good for getting interviews but lets say I can get interviews regardless of what I do this fall, then the IB would probably be better right?

Yes it applies to regional offices
Don't understand your second question
If youre getting interviews, someone has already seen your resume and approves it so wouldnt worry about the IB internship because youve already been screened.

May 27, 2013

I would recommend doing no-name IB. Because like as you said, if you can get interviews regardless of brand name (which I think rarely does anything unless its FO BB - ER / S&T / IBD before Junior SA), the experience at IB would help you better answer questions in interviews and give you a better reason to why you want to do IBD now that you have experience.

I'm pretty sure all the replies above are saying the people that got GS PWM as sophomores "cleaned the floor with OCR" because they are already strong candidates and not because the GS name mattered that much. I've seen plenty of guys with off-cycle GS internships that even continue into the summer (non-structured, but FO divisions) get worse opportunities once recruiting swings around.

May 27, 2013

I would actually love to choose the GS pwm internship it would look great on your resume. But the danger is that uve done your PE job already is it just looks a bit funny that uve done something in the related field and went back to pwm and now recruiting for ibd.. Could you take the GS internship, and take out your PE internship if its at a no name or is that dangerous advice monkeys?

May 27, 2013

I agree though if its not GS and actually some other BBs PWM I would not do it. But it shudnt matter

May 27, 2013
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