investment banking and wealth management

wealth management and investment banking are two of the most popular career choices within the financial sector. in addition, investment bankers may handle the short-term investments of their corporate clients. in terms of the actual functions within investment banking and the job responsibilities of investment bankers, there are two types of investment banker positions: account managers and operations specialists. account managers act in the lead position of developing and maintaining relationships with clients and seeing that their needs are properly met.

in the area of investments, clients are often sold managed account services, discretionary investment accounts that are traded on behalf of the client by one of the investment professionals at the firm. the job of providing these services is typically split between relationship managers and investment professionals. the job of the investment professional is to know the investments that are considered by, and for, the client. there are certain commonalities that tend to exist in candidates for a career in either wealth management or investment banking, but there is no educational major that specifically prepares an individual to act as a wealth manager or an investment banker. interpersonal skills are important for an investment banker as well since it typically requires a substantial amount of wining and dining of clients.

however, at a certain point you need to choose a career to build around for the rest of your life. you can go there, do your two years, and then pivot to something else (if you’re at a top group, this could be in the private equity or hedge fund space). in wealth management, your clients will be with you for decades and you’ll be speaking to them at a minimum once every quarter, but likely even more.

in investment banking, up until you hit the point of being a managing director your pay will be tied to the general performance of your group or the bank, but not to yourself. it is very rare to see those who have been in wealth management for a decade or more leave the industry unless they just want to do something entirely different. however, you can do investment banking at the analyst or associate level, which is more analytical and involving no sales, and then move to a hedge fund analyst role or something analogous that likewise involves no real sales. but once you get into your career for a few years then you begin to think in terms of decades, not the next year or two, and the reality of doing something you dislike, or see no future in, can be incredibly demoralizing.

investment bankers are likely to work longer hours and draw somewhat larger paychecks. wealth management is focused more on personal service of individuals, this is perhaps the largest, practical difference between wealth management and investment banking. in ib your compensation is more known with our senior investment bankers have been involved with more than 100 advisory and capital raising engagements representing more than $20 billion in, wealth management vs investment banking salary, investment banking vs wealth management reddit, wealth management career path, wealth management career path, wealth management salary.

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