PWM Internship after Freshman Year

If this post seems redundant, I do apologize. I'm just trying my best to gain as much information as possible to increase my chances of getting into IBD.

I am entering college this fall at an (Ivy) target school and I've been using Google/WallStreetOasis to research any possible internship opportunities for next summer. I've been reading a lot about how PWM internships tend to be available for freshmen, particularly at places like Merrill Lynch and UBS. I live in NYC, so reaching these banks should not be an issue. How difficult is it to actually get an internship at these places? Has it helped increase your chances of recruitment for IBD? Also, I've seen people mention that these PWM tend to not be very structured. Are there any alternatives?

 
Best Response

It's very easy to find one of these and you are correct in your assumption that recruitment isn't structured.

As for alternatives -- personally, I had the opportunity to work in portfolio management at a REIT so I took that instead given the fact that there was a lot more value in the internship with respect to analytic work being performed. However, had I not been given that opportunity I would've opted for PWM.

It doesn't help extensively in IB recruiting as you'll be doing a bunch of lame database and cold calling work during the majority of your internship. The reason people do it is to get experience in an office setting and show interest in markets/finance + the job forces you to keep up-to-date with current events and financial news.

"Well, you know, I was a human being before I became a businessman." -- George Soros
 

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"Well, you know, I was a human being before I became a businessman." -- George Soros

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