If I start in Morgan Stanley wealth management is it hard to move over to Investment Banking or trading later?

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I got an offer from Morgan Stanley but it would be in wealth management. I do not have too much prior experience and I am still in college so I think it would be good experience. Would it be hard to move into trading, investments, etc from this?

Comments (14)

Apr 3, 2019

Yes, pretty difficult to move into IB or S&T from WM

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Apr 3, 2019

I'd expect it would be difficult. Getting a job in wealth management is pretty easy. Your best path to getting a job in investment banking or S&T as an analyst is straight out of undergrad.

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Apr 3, 2019

Thank you! In that case do you think I should decline the offer?

Apr 3, 2019

Don't decline if you have no other offers.

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Apr 3, 2019

What is your alternative? If it's unemployment, still better to have a job than nothing. At least PWM is a job in finance. You can apply/network towards a better role once you're there (or until you join).

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Apr 3, 2019

If you succeed in PWM, it is a far superior career path IMO than IB (better hours, theoretically uncapped earning potential, you're basically your own boss, etc.).

I am not very familiar with MS's PWM division however. If they operate like Merril or EJ (cold calling, minimal base salary, 90% wash out rate) then try to get out into a salaried position at a bank ASAP. But if they're more along the lines of JPM or GS, you will have a decent base salary starting out, an internal support network within the firm, and the hustling for leads aspect may even be outsourced to a dedicated sales or RM department. In that case, I wouldn't be so eager to jump ship for IB.

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Most Helpful
Apr 3, 2019

Hi! Wow thank you all for the replies. I actually have a very confusing situation at the moment. I have 4 internship opportunities 3 in Singapore and 1 in the Philippines that I can do. My end goal is VC/PE which is why I was asking about IB because from what I've seen it helps your resume in terms of exit opportunities. The problem is I live on my own I'm 20 and I fully financially support myself. If I choose Morgan Stanley I will get the experience of working there and their name on my resume plus the guaranteed compensation. On the other hand, if I go over seas I will NOT be compensated for these internships. I can afford rent and everything for the few months I am gone but if I return and cant find a job for a while I'm kind of screwed. I do think working in a different country in the industry I love is priceless but idk if that's a risk I should take. Right now I have a secure accounting job I've been at for a while and I like it but I've learned everything and there's not much growth anymore.
I know this is a lot to take in so if you read all of this THANK YOU

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Apr 3, 2019

Also regarding dsch's comment on MS structure I have to do more research but from what I have seen so far it seems more similar to JP and GS. I DEFINITELY do not want a job with cold-calling that reminds me of sales too much and the kind I don't like. Thanks again

Apr 16, 2019

sorry to trash what someone else says, but I know for a fact MS is not like GS PWM and JPM, it will entail cold calling if you are an advisor. I did a 4 part series on PWM way back but the info is still relevant, take a look and if you want to take this offline, let me know.

by the way, I cold called, it sucks, but it's better than unemployment. that said, if I was fresh out of UG, I wouldn't go MS PWM unless it was a non-advisor position with a salary.

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Apr 3, 2019

It is the latter case that you outlined, comparable (and frankly superior) to JPM and GS. Respectable base above market for PWM, variable comp in line with market, incredibly robust internal support network. The only thing that's not the case is a dedicated sales/RM department. Unless you're inheriting business or joining a team (and even in that case), you're still hustling for new money every day. It's sales through and through.

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Apr 3, 2019

i know people in MS PWM and they love it...its a good place to be

just google it...you're welcome

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Apr 3, 2019

Would you say its mostly cold calling and pitching in the dark? Or more team oriented where you work w sales and FAs rather than be a sales person? I am just trying to collect the most info that I can
Thank you!

Apr 3, 2019
Comment

just google it...you're welcome

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