Should I Intern at UBS Wealth Management or BofA Merrill Lynch Global Wealth Management
Hi, I'm currently a sophomore at a Target school and am looking to break into the IB field at a BB upon graduation. I have 3 possible internships this summer:
- UBS Wealth Management Intern - not sure if paid or not
- Bank of America Merrill Lynch Global Wealth Management Intern - Unpaid but can be used for college credit
- Bank of America Merrill Lynch Private Wealth Management Intern - not sure if paid or not
Which would you take and why? Should I go with UBS or BAML, and why? My goal is get an IB internship the summer after junior year and was wondering which of these internships would best help me achieve that.
UBS is the better firm but most wealth management roles are dull. Then again you're a sophomore so it may be a good opportunity to improve your resume. You have to decide the value of $ and school credit for yourself... we don't know your situation.
During undergrad I interned at Merrill Lynch in WM. I learned that I never wanted to do it as a career.
Try applying for JPM or MS internships. I think they will have the best IB future.
I interned at BAML for PWM, did not like it
I was also at a BB PWM and it was mostly cold-calling.
I actually have no clue why I did PWM as a junior, except to pad my resume.
During the interview I specifically asked if there was going to be cold-calling and she said no and that it would be a good learning experience, so I'll take it.
Depends entirely on the PWM Group that you are interning with. Ask about the specifics of the role and what the brokers are going to expect of you. You don't want to get into a wealth mgmt internship where you are doing marketing - cold calling, identifying potential clients, etc.
You want a wealth management internship where you're looking into portfolio mgmt, analyzing risk, etc.
Both BofA Merrill and UBS are getting high ratings on InternshipKing.com. Also, both are strong brand names on the resume.
it's good that you're a sophomore and not a junior as this does line you up well for an investment banking internship next summer. Good luck.
Is this for the New York office of ML? If so, I have interview there next week and would appreciate any advice you may have. I am interviewing with the Waltuch Group? Which did you interview with?
BAML. UBS is going to shiiit.
To be fair, UBS IBD drags the rest of the firm down, their AM/PWM divisions are actually quite strong and well respected. Obviously the under performance of the IBD sector is going to take a toll on the reputation of the overall firm but its not as bad as people make it out to be
Accept ML offer or UBS offer? (Originally Posted: 04/05/2014)
I am currently a sophomore at a non-target, main objective is a front office SA/Full Time position. Any of your thoughts or opinions would be great. I am currently considering the following positions for an internship this summer:
Merrill Lynch Wealth Management at a main office in Central NJ -Official title is Global Wealth and Investment Management Summer Analyst (not sure if that implies anything for significant) , I initially reached out to the office and they had me submit an application on the BofA website. It seems like a very structured program as it is full time and I would be reporting to the Managing Director.
UBS Wealth Management in NYC -Would be with a well established group. However the pay is considerably less and it seems less structured as my days and hours would vary and isnt full time.
What are your thoughts? Clearly the ML position seems better however as a non target being able to network the entire summer in the city would be a huge advantage. We have a strong alumni base in Manhattan who have been instrumental in helping students secure Front Office positions. Any thoughts or past experiences would be much appreciated
The ML offer looks and sounds better. NJ isn't too far from the city if you take the PATH.
Thoughts on summer internship? ML/UBS (Originally Posted: 04/06/2014)
I am currently a sophomore at a non-target, main objective is a front office SA/Full Time position. Any of your thoughts or opinions would be great. I am currently considering the following positions for an internship this summer:
Merrill Lynch Wealth Management at a main office in Central NJ -Official title is Global Wealth and Investment Management Summer Analyst (not sure if that implies anything for significant) , I initially reached out to the office and they had me submit an application on the BofA website. It seems like a very structured program as it is full time and I would be reporting to the Managing Director.
UBS Wealth Management in NYC -Would be with a well established group. However the pay is considerably less and it seems less structured as my days and hours would vary and isnt full time.
What are your thoughts? Clearly the ML position seems better however as a non target being able to network the entire summer in the city would be a huge advantage. We have a strong alumni base in Manhattan who have been instrumental in helping students secure Front Office positions. Any thoughts or past experiences would be much appreciated. Thanks guys
take the UBS gig, its a top 5 franchise in the US and the #1 in the world. like you said, better networkig ops esp with the school network you have in city. plus, you're only a sophomore and money at this point doesnt matter - you'll spend most of it on rent/food, and you should enjoy the rest of it on going out + events (concerts, museums, whatever floats your boat).
ubs pwm vs ml pwm (Originally Posted: 10/07/2009)
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Its going to make no difference. Go where you believe the people will be willing to help you the most.
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