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PWM - Career Blackhole? watch

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    Hi all - is PWM really a career blackhole as some people describe it? Even at places like GS or JPM?

    Would really appreciate some insights as to whether it is something worth pursuing (as I have an internship lined up) or should I apply to somewhere else after doing the internship this summer.
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    what are you aims?
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    (Original post by s200200300)
    Hi all - is PWM really a career blackhole as some people describe it? Even at places like GS or JPM?

    Would really appreciate some insights as to whether it is something worth pursuing (as I have an internship lined up) or should I apply to somewhere else after doing the internship this summer.
    Definitely! Why are you having second thoughts?

    PWM is a great place to be if you're wanting a more sales-y career related to the markets but not dealing with institutions. If you're good and you build up a decent book of clients you'll be able to make a solid amount p.a.

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    Thanks! I do not aspire to try to jump from PWM into a hedgefund or a private equity - but what bothers me is this: (i) you don't get good training and gain good finance skills by working in PWM (is that true even for GS?); (ii) the failure rate of PWM is high and most people don't make it (so what do they do afterwards?).
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    (Original post by s200200300)
    Thanks! I do not aspire to try to jump from PWM into a hedgefund or a private equity - but what bothers me is this: (i) you don't get good training and gain good finance skills by working in PWM (is that true even for GS?); (ii) the failure rate of PWM is high and most people don't make it (so what do they do afterwards?).
    1. Not true. Most of what you learn in a PWM role will be through 'apprenticeship' of being under the wing of senior bankers.

    2. The same can be said for any top career. They probably switch gears into: family offices, sales, get an MBA etc

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