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The difference is that IB is more of an explicit sales job , as deals must close for the bank to earn fees. Equity research at the senior levels does require sales skills, but its more about being a conduit than a closer. bulgebracket research team to startup PE firm).
The Nature of the Work: Markets, Analysis, Sales, and Interpersonal Skills Wealth management (WM) requires broader knowledge of the financial markets since you may have to advise clients on everything from their portfolio allocations to upcoming tax changes. If you have good sales skills, you could break in with a middling GPA (3.0 – 3.5)
Previously in his career, Hagan also spent four years on the sell-side at Société Générale in various FX sales roles. In nothing short of a baptism of fire, he took his first steps into trading in January 2007 in the build-up to the global financial crisis. The sell-side tends to operate on a 24-hour basis,” he adds.
Dominic Rieb-Smith, managing director, international head, prime services sales, JP Morgan, refers to the past year as “a standout”. So you can see how this growth and momentum just starts to really build over time.” Those are the relatively commoditised parts of the business. They need a financing platform to support all of that.
The work might not be for you , even if you’re good at it – for example, maybe you find deals far more interesting than building a client book or managing their portfolios. Many people find wealth management work boring or repetitive and do not like the heavy sales/cold-calling aspects.
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