<p>How good does PWM look on a resume for a Freshman who is aiming for MBB or GS/MS?</p>
<p>IB division for the two finance firms btw</p>
<p>PWM is better than nothing, and in this economy, it is probably as good as anything a freshman without connections is going to get. </p>
<p>Where you’re doing your PWM internship does make a small difference, but in general, investment banks aren’t too concerned with what you do freshman summer. There are people who just take classes during this summer and still get into GS</p>
<p>PWM always has a negative stigma attached to it</p>
<p>bearcats: “always,” or just these days, now that Wall Street has lost its luster?</p>
<p>This has nothing to do with WS losing luster. For those interested in ibanking, wealth management will not help them get a banking job. Many kids think working in WM is an ibanking job and that they’ll gain contact within the firm. While your employer is a bank, it’s not an ibanking position. You will never meet ibankers. Chances are you’ll be sitting in some affluent suburb, not on WS. Many in ibanking will look at the resume of someone with WM experience and think they’re not a fit. </p>
<p>I would take any finance job over this.</p>
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<p>While what you say is generally the case, it is not 100% written in stone. I’ve seen some pretty interesting deals where the PWM guys will send us one of their clients to effectively act as a proxy for an equity sponsor. Especially in this economy, you’ll see some wealthy risk-tolerant individuals actually provide emergency liquidity for troubled companies by participating in private placements. Again, rare but not totally out of the question. Under the right circumstances, it is possible to get exposure to deal experience and M&A bankers.</p>
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<p>PWM is a finance job, btw.</p>
<p>^Sure, that’s like finding a needle in a haystack. Proably .01 percent of PWM’s will ever become involved in such deals. You’ll identify them by their private jets and their lunch calendar which will have recent IPO CEO’s. I think an intern would hit the lottery much sooner than find himself involved in such deals.</p>
<p>I meant to insert the word corporate before finance.</p>
<p>The OP is a freshman; no freshman is going to get a legitimate job in IBD in this economy</p>
<p>I know several that have.</p>
<p>Likewise.</p>
<p>Go to a top school, network, get good grades, show a true interest in finance and a willingness to learn, and you’ll get what you want.</p>
<p>I currently have 2 offers. An Ibanking position with a boutique and a PWM with a bulge bracket. which looks better to McKinsey/GS?</p>
<p>boutique!!</p>
<p>what about high school seniors? how does PWM summer internship look for a HS senior?</p>
<p>How about for a 14 yr old. How does PWM look for a 14 yr old? LMAO @ these guys ripping a PWM internship for an 18 yr old. I think it sounds great.</p>
<p>The PWM guys that contacted me looking to get my business were typically salespeople. They were well-versed in their products and with financial instruments in general but they weren’t the kind of people that I would want managing my money.</p>
<p>Good PWM’s don’t contact you, you find them. There really is a respectable segment of this profession. But BC is right, most of them just pull up a chair and hawk any product to anyone. They used to be called boiler room brokers but decided PWM had a nicer ring.</p>