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Is asset management more competitive than IB?

Hi, the title is basically my question.

Just out of interest is asset management/wealth management more competitive that IB? If one wanted to pursue a career in wealth management, what would be the best degree to do?

Thanks!
Reply 1
anyone?
Reply 2
As far as I know asset management is slightly less competitive than IBD/S&T, and wealth management even less so. As far as best degree there isn't really one, something economics related/quantitative may help you in general though.
Reply 3
Original post by 442113
As far as I know asset management is slightly less competitive than IBD/S&T, and wealth management even less so. As far as best degree there isn't really one, something economics related/quantitative may help you in general though.


Hi thanks for your answer, aren't wealth and asset management the same, or are they slightly different, also in terms of salary would asset and wealth be slightly lower than sales and trading/ib?
Original post by djm1999
Hi thanks for your answer, aren't wealth and asset management the same, or are they slightly different, also in terms of salary would asset and wealth be slightly lower than sales and trading/ib?


Same thing.. title usually dependent on amounts involved.
Reply 5
I would say that is difficult to draw a comparison between the two. AM firms, generally speaking, started only in the last 3-5 years to set up well structured programs (i.E summer+grad) for recruiting new talents. Sticking to "front office" (i.e investments) roles, it is true that the number of AM interns as a whole is growing rapidly, but it is still significantly smaller compared to the banking sector one. the point is that the number of application is increasing massively and the ratio of applicants/position is probably in line with IB (at least for the 2 AM firms that I have direct knowledge of).

btw, AM and WM are not the same thing. I don't care of how banks call their division, no investment management firm (BLK, Fidelity, M&G, AAM...) has anything to do with wealth management, which is another word to say private banking ( in theory (:rolleyes:), tailored asset allocation to wealthy clients)
Reply 6
Original post by sertur91
I would say that is difficult to draw a comparison between the two. AM firms, generally speaking, started only in the last 3-5 years to set up well structured programs (i.E summer+grad) for recruiting new talents. Sticking to "front office" (i.e investments) roles, it is true that the number of AM interns as a whole is growing rapidly, but it is still significantly smaller compared to the banking sector one. the point is that the number of application is increasing massively and the ratio of applicants/position is probably in line with IB (at least for the 2 AM firms that I have direct knowledge of).

btw, AM and WM are not the same thing. I don't care of how banks call their division, no investment management firm (BLK, Fidelity, M&G, AAM...) has anything to do with wealth management, which is another word to say private banking ( in theory (:rolleyes:), tailored asset allocation to wealthy clients)


Would you say a degree like economics and/with geography would be good to break into asset management?
(edited 8 years ago)
Reply 7
Original post by djm1999
Would you say a degree like economics and/with economics would be good to break into asset management?

I am biased since I believe that if you want to work in the financial sector you should pursue a degree in finance or at least economics. but things in the uk are quite different that in continental europe. if you look at the interns pool of both AM and IB in London you'll see plenty of people with degree in physics, history, even literature... What is more important, from my experience at ACs and from friends experience, is that you go to a target or at least to a semi-target.
Reply 8
Original post by sertur91
I am biased since I believe that if you want to work in the financial sector you should pursue a degree in finance or at least economics. but things in the uk are quite different that in continental europe. if you look at the interns pool of both AM and IB in London you'll see plenty of people with degree in physics, history, even literature... What is more important, from my experience at ACs and from friends experience, is that you go to a target or at least to a semi-target.


Ah great thanks, in terms of target and semi target, would the following be on the list LSE, UCL and Durham (maybe?). I am cutting out the others, as I don't believe they offer economics and geography split degrees.
Reply 9
Original post by djm1999
Hi, the title is basically my question.

Just out of interest is asset management/wealth management more competitive that IB? If one wanted to pursue a career in wealth management, what would be the best degree to do?

Thanks!


Depends on the area of asset management you're going for. Alternatives will be tougher, especially straight out of uni. Wealth management is less competitive, though you'll have to be more polished I'd imagine. The more socially awkward will find a better fit in IB.
The best degree is soemthing you're good at and enjoy. You can always add extracuricular and some exams / certifications to show finance interest / qualification (e.g. IMC, there's also ones for wealth management from the CISI I beleive). Having a non-finance degree may actually be more beneficial if you're in a client facing role in WM, as you'll have more to chat about with clients who likely didn't do finance.
Original post by djm1999
Hi thanks for your answer, aren't wealth and asset management the same, or are they slightly different, also in terms of salary would asset and wealth be slightly lower than sales and trading/ib?

No, for asset management you can also pretty much say fund manager, i.e. they manage funds for private and/or insitutional clients in funds, which are seperate legal entities. The clients are mixed, but for msot large fund managers, insitutional clients will be making up the bulk of the money. Examples are Blackrock, MAN Group, HSBC Global Asset Management, UBS Global Asset Management.
Fr wealth management ,think more along the lines of private banking. Clients are usually wealth private individuals who keep the majority of their wealth with you. Examples are Coutts, Julius Baer, HSBC Private Banking, UBS
Some banks are also mushing them together a bit more and start to blue the lines, e.g. Deutsche Bank Asset & Wealth Management or Barclays Wealth and Investment Management. A lot of smaller firms also mix it up, e.g. Ruffer, Close Brother etc.
What are you guys up to these days?
Original post by WolfgangPauli
What are you guys up to these days?


hey bud - did some BB investment banking (m&a) > corporate development at a european tech startup > now work value engineer / consultant for a company based out in the US and on the side work on building my own small businesses in east africa

HBU?
(edited 1 year ago)
Hiya mate - I didn't actually expect a reply, especially not such a cool answer as well. Well done on your achievements and your career progression. I'm only a first year Maths student in Manchester who's looking around to get opportunities and learn from others, but I am interested in applying to asset management/wealth management and maybe investment banking too...How come you left IB and how long did you work there for? I'd love to be able to connect with you on LinkedIn and pick your brain a little bit! Here's a link to my profile. https://www.linkedin.com/in/nathvn9/

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