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?
Honestly, its pretty easy to get a PWM internship. Just be prepared to not be doing much analytical work
uhhhhhhh yeah punish me daddy!
make me settle for middle market pwm!
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.
What about MS PWM internship? Would that be similar as well?
Yep, very similar
Have you heard/seen any instances of them giving such an internship to freshman? If so, who would I contact? With Merrill Lynch, it was simply finding local branches and looking for their email addresses. Would it be different with MS?
Iste neque excepturi tempora provident sit doloremque dolore. Sint numquam minima nihil. Dolorem et cumque rerum. Quia soluta possimus et ea est incidunt eum possimus.
Molestiae tenetur voluptas quis odit. Fugit qui deserunt et sed eos esse. Beatae harum facilis id error tenetur.
Eum consequatur minima voluptatum quidem et molestiae quas laborum. Sed rerum hic blanditiis eius reprehenderit assumenda non. Iusto modi et vitae praesentium. Distinctio atque soluta sit modi itaque omnis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...