Morgan Stanley Wealth Management v. Goldman Sachs Investment Management

I just got an offer from each of these places and I am trying to decide between the two. From what I know, the GS group has an incredible reputation for the amazing technical skills I would get (risk, liquidity analysis, contact with PMs, etc), but very intense hours. MSWM has relative better hours, maybe a more open-culture, but maybe not as much technical skills.

I am currently considering two things:
1) How much difference do those skills in GS make in terms of exit opportunities?
2) What different career paths are there in wealth management?

It would be great if anyone could provide any input!

Comments (15)

Feb 27, 2014

IM hands down

Feb 27, 2014

Can you give some more specific reasons?

Feb 27, 2014

you are wrong about several things

1. no intense hours in goldman IMD. 7-7 kind of shop, no weekends
2. no amazing technical skills- where are you getting this information exactly?

goldman IMD is divided into GSAM and PWM
which did you get into?
if you got into the PWM division, any differences between MS and GS will be negligible

happy to give advice; no asking for referrals please

Feb 27, 2014

It comes down to the specific group. GS IMD is huge. OP any idea what specific role?

I stand by my earlier commen though: if it is indeed GS PWM, then it's still better than MS PWM in terms of exit ops just because the GS brand gives you a bit more leverage. If you're going to stay long term, go with the group you like more.

Feb 27, 2014

Hi. The group is GSAM AIMS (Alternative Investments), which is from my understanding known for strong technicals and very long hours (8-11).

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Feb 27, 2014

and what is the role at MS?

Feb 27, 2014

The difference between MS and GS in PWM is not negligible. GS is >>>>>>>>>> MS

GS IMD is pretty damn strong. Additionally, regardless of whether you are PWM of IMD as GS, the training you will get will be far superior to that at MS.

I would agree with you, but then we'd both be wrong.

Feb 27, 2014

Assuming both are PWM roles, there are a few other factors to consider:

1) Are you being hired onto a team and if so, what is your role within the team?
2) Is the MS position within their WM channel or PWM channel?
3) If you are going to be responsible for business development, what are the expectations and what resources will be made available to you.
4) How are you paid, what equity will you receive in the book and how will that transition over time?

I know people at both places and can tell you that within PWM, they are basically the same thing. Maybe GS has a slightly better image but you also need to consider the value that PWM has to both organizations. PWM at MS is 45% of their business, at Goldman it is more of an afterthought. In either case I would be concerned with the answers to my questions above instead of the name on the door.

Feb 27, 2014

Hi sfbroker. Thank you for the input. The group at GS is in GSAM AIMS (Alternative investments). I'm in a research role so a lot of analysis for liquidity, risk, market understanding, interaction with PMs, etc.

Feb 27, 2014


Feb 28, 2014

So if I am understanding this correctly, you would be working and on the institutional side of the business at GS and at MS you would be providing support to PWA/FAs (retail) through one of the many product or support this correct?

Jul 15, 2014