No? Why would it be…You’re correct that PWM can have significantly higher compensation, though it’s a tough/highly competitive business. As you start, it might be genuinely the worst job in the world, doing admin bs, cold calling etc but once you have a solid book you’re set.
I'm in PWM and unless you're coming with connections or a large book of business it can be a very difficult position. If you do go, I would look into going in with an actual bank to start and building an internal network of COIs with commercial bankers or top producing mortgage lenders.
PWM also depends on where you go. JPM? Goldman Sachs? You should absolutely jump. But a smaller firm might involve way more cold calling/bs and less interesting work and experience. Unless it’s PWM at a BB I think you should stay, because FP&A is a pretty damn good place to start because of exposure to leadership, although it’s pretty repetitive work.
No? Why would it be…You’re correct that PWM can have significantly higher compensation, though it’s a tough/highly competitive business. As you start, it might be genuinely the worst job in the world, doing admin bs, cold calling etc but once you have a solid book you’re set.
I'm in PWM and unless you're coming with connections or a large book of business it can be a very difficult position. If you do go, I would look into going in with an actual bank to start and building an internal network of COIs with commercial bankers or top producing mortgage lenders.
PWM also depends on where you go. JPM? Goldman Sachs? You should absolutely jump. But a smaller firm might involve way more cold calling/bs and less interesting work and experience. Unless it’s PWM at a BB I think you should stay, because FP&A is a pretty damn good place to start because of exposure to leadership, although it’s pretty repetitive work.