<p>So I've been reading on here that PWM internships are pretty useless, but I got one this summer and took it. I'm a rising sophomore by the way.</p>
<p>Anyway, I've only had training so far, but my internship looks like it will be rewarding in the future. I've got a lot to read on closed-end funds, structured products, option writing, etc. and they showed me things I'll be doing with portfoliocenter, excel, and some charlesschwab website things (maybe making stock purchases?). I'm not sure if this is the work that those so-called "useless" PWM internships entail, so my question is, does this PWM internship sound rewarding?</p>
<p>anything is better than nothing…and who is saying PWM is useless? You might be able to argue that the skills you learn are useless, since they might not directly apply to banking. But having a PWM internship is a stepping stone towards a banking position. Obviously banking would be better, but PWM is far from “useless.”</p>
<p>PWM is useless compared to ibanking, consulting, boutique experience or if you are a junior/senior. Otherwise, it is a pretty good experience, especially for a freshmen because its hard to get anything else as a freshmen.</p>
<p>But, if you can get a Goldman Sach, boutique, Bain/McKinsey type of internship then yea PWM is worth nothing in comparison.</p>
<p>PWM internships are not “useless” as everybody claims they are. The issue tends to more be that they are much more common, and, relative to interning at a boutique investment bank or investment arm of a corporation, they are not as directly transferable in terms of skillset.</p>
<p>As far as what is “typical” of PWM internships, that’s not really a good question to answer bc of the fact that PWM internship programs are generally much less structured or consistent in terms of what is done than banking internships.</p>
<p>Regardless, aim to do well this summer and learn as much as possible. You’re only a rising sophomore, so this is a great first internship to get exposed in finance. Come interview season next winter for the next summer, what you’ll be tested on in interviews is how much you learned from this job and how much responsibility you were trusted with.</p>
<p>PWM internships are not “useless” as everybody claims they are. The issue tends to more be that they are much more common, and, relative to interning at a boutique investment bank or investment arm of a corporation, they are not as directly transferable in terms of skillset.</p>
<p>As far as what is “typical” of PWM internships, that’s not really a good question to answer bc of the fact that PWM internship programs are generally much less structured or consistent in terms of what is done than banking internships.</p>
<p>Regardless, aim to do well this summer and learn as much as possible. You’re only a rising sophomore, so this is a great first internship to get exposed in finance. Come interview season next winter for the next summer, what you’ll be tested on in interviews is how much you learned from this job and how much responsibility you were trusted with.</p>
<p>I am doing one right now over the summer as a rising sophomore. It’s unpaid work and part-time. What I am doing is usually researching and some busy work. </p>
<p>The researching is just looking up funds and what-have-you on Morningstar and then flipping the data in our analytical sheets on excel. But most of the work is already done for me. Morningstar exports to excel on its own and with one macro and a few adjustments by hand I am finished with X fund’s analysis. </p>
<p>The busy work entails of routing mail, printing off reports, etc. It keeps me kind of productive I guess. </p>
<p>The company has financial seminars each week for its clients so I get to sit in on them and listen to various speakers and educated investors in their discussions. The jargon for me is still a bit advanced but at least I am getting exposed to it!</p>
<p>I think later in the summer I will be able to shadow in some informal or maybe formal meetings with clients which I can see are kind of fun, but long. </p>
<p>Ultimately, the internship isn’t very challenging or educational, but I am being productive and exposing myself to the industry. I feel really lucky to have this opportunity and it will definitely pay off down the road - even as early as next summer.</p>
<p>a week and a half through mine, i can see that mine’s sort of similar to yours youngboi, but i’m learning a lot too. they try to stimulate my mind by asking me to come up with charts that represent different things with call options, structured products, etc. Pretty interesting I guess</p>
<p>Those are big projects, but some of the minor stuff is like yours. research on funds, stocks, etc. and also making the reports for the clients, not just printing them.</p>
<p>i feel very lucky as well, and i think i already learned a lot. i just wanted to see if my internship was a typical PWM one or was more/less educational than others</p>
<p>Hm…see your’s does seem more challenging compared to mine. I’ve heard of but don’t really know anthing about call options or strucuted products. The company I am working for is rather small though so that may factor in some. Are you the only intern in yours?</p>