Private Wealth Management vs. Investment Banking
Hello,
I am currently an undergrad in my sophomore year. I have just accepted my Private Wealth Management National Internship offer from Morgan Stanley. It is a summer internship through their National Program so I hope that if I do not like PWM that I will be able to network through the program to obtain opportunities in other fields within Morgan Stanley (IB, PE, etc.).
I am currently interested in pursuing an Investment Banking internship next year. Do any of you have advice on whether to pursue a life in IB or PWM? Any advice on how to network in Morgan Stanley PWM for a Morgan Stanley IB internship?
Thanks
"Do any of you have advice on whether to pursue a life in IB or PWM?"
What the fuck
Only way to know if you want to do something is to do it. Try out the internship for PWM and hopefully you can get a IB internship next summer. When full-time comes make your choice.
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@Powa23: thanks for the advice.
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Op, stick to PWM.
@Streetwannabe:
Why do you think I should go with PWM?
I'm being very sarcastic. Perhaps it may be something you want to do, but to me it is just not a very attractive job.
Not sure why PWM gets so much hate.
You work less than 40 hour weeks from anywhere in the world with an internet connection assuming you go boutique/independent
ML/UBS PWM is a joke though
PWM=less compensation and less work IB=substantially more work and substantially more compensation, depends on what you want
I could not agree more. Investment Banking offers great compensation but few people go into IB to stay in it for the long hall. The majority of people enter the field for the exit opportunities like HF/PE. PWM offers a more stable life style and if you are successful enough, you may be able to make way more then IBankers but that is rare.
To be honest, I do have my eye on the money as most people in finance do. I do not mind going through hell for 6-8 years after undergrad to obtain a substantially rewarding career although at some point in my life... I would like to have a life. Or at least not work 90-100 hours a week. Knowing this would you recommend entering PWM and busting my ass off early to develop a solid AUM or would you recommend entering IB to exit for PE/HF?
On a side note many people enter IB to get into a top notch MBA program and then move on to other endeavors. Would spending a few successful years in PWM at a BB provide someone with the necessary credentials to enter a top MBA similar to doing IB would?
PWM is a lot like working for a broker
What is the REAL problem with PWM as opposed to IBD (Originally Posted: 10/02/2017)
So it seems like everybody on here shits on PWM, but they forget that there is so much more to PWM than just being a FA. I was wondering if working in a BB's Home Office as a Summer Analyst is still as looked down upon as working on a team as a FA is. Is it a good place to start a career?
So dependent on what you find interesting and what your goals and priorities are.
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