Investment Banking Discussion Thread

[ac21686]

Very difficult in general. A lot of people seem to go for the name and will take a BB PWM job over an offer from a second-tier IB. From my experience, that's a mistake. Think you'll find mostly the same opinions over at the WSO and M&I boards.

 

[Khayembii Communique]

Why is it so difficult to make that transition?

Also, unrelated to the above, but wouldn't it be easier to transition into PE and hedge funds from PWM as opposed to IB?

 

[gettoasty]

PWM IMO has very little analysis work involved unless you're in the back office aiding the sole producer

All the other aforementioned career paths you mentioned from what I understand requires a lot of analyst. Just the experience alone would not aid in a smooth transition.

PWM is a lot of product knowledge and sales essentially.

Right or wrong, I'm interested to know this as well.

 

[Khayembii Communique]

PWM IMO has very little analysis work involved unless you're in the back office aiding the sole producer

I don't know if that's true.

As an Analyst in Asset Management, your role will often take you outside of departmental boundaries, working with portfolio managers, private bankers, client advisors, global investment specialists or traders. You can also expect to interact with many other professionals, such as heads of business groups, marketing teams and product specialists.

So, whether you're conducting research on individual firms, selling multiple products in Investment Management or assisting with product development in derivatives in Private Bank, you will be working with outstanding colleagues and senior people to deliver top-notch solutions.

http://careers.jpmorgan.com/student/jpmorgan/careers/us/programs/ftug/am

 

[newinny]

I have worked in PWM and IBD. Two different animals.

My role in PWM had little applicable modelling or accounting experience.

Probably easier to move from PWM to Structured Credit to Capital Markets to IB.

 

[gettoasty]

What you are referring to I believe is a CFA ^

CFA have a better opportunity. When you say PWM I was thinking of the CFP.

 

[Khayembii Communique]

I have worked in PWM and IBD. Two different animals.

If you worked in both how did you transition between the two? What was your role in PWM?

Why do people prefer IBD over PWM? More room for advancement? Better pay? More interesting?

Just wondering because I might have a chance to interview for a position in Asset Management as my first position in the field from a career change from engineering, and wondering if I should take it or pursue IBD positions instead. This is a great opportunity though that I'm worried I won't be able to find in IBD.

 

[Pennglock]

Take the interview by all means. Openings for non campus recruits w/ o experience are basically non- existent.

 

[Joffrey]

Why would you turn down an interview when there's nothing else on your plate? Take the interview and "worry" if you get an offer.

 

[Khayembii Communique]

Oh I wouldn't dream of turning it down. I don't have an interview invitation yet. I have an MD reviewing my information here and then someone in New York helping me out with a possible position there, so I'm hoping to have an interview invitation from at least one of them. Both positions in Asset/Wealth Management (in the same BB firm, coincidentally).

Also seeking out other contacts elsewhere while those gears are spinning to cast as wide of a net as possible. It's all networking.

My questions in this thread are just related to where I would be at if I was lucky enough to get a position.

 

[aspasp]

pwm is back office, ibd is more prestigious, more exit opportunities, better pay and is going to build a stronger skill set. pwm is like being a salesman

 

[gettoasty]

^Yup

 

[Pennglock]

Meh, IBD is little more than glorified sales itself.

 

[Khayembii Communique]

How is PWM back office, especially if it's "like being a salesman"??? How can you relegate all of PWM/Asset management to the back office?

 

[gettoasty]

Because the sales man/rep/CFP pitches with all the information provided by his back office. If you are a a medium to big firm, you think the CFP has all the time to make the financial analysis? It is delegated to the back office while his time is spent networking and speaking with clients.

At least that is what I take from the back office comment.

^Depending on how much you know and what you bring to the table, prepare to make a lot of phone calls in PWM and having to jump through hoops