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re: Private Wealth Mgmt for $25M+ Clients

Posted on 11/12/17 at 1:03 pm to
Posted by Louie T
htx
Member since Dec 2006
36302 posts
Posted on 11/12/17 at 1:03 pm to
quote:

Is it Goldman Sachs? If so, I’d take the job just to get the name on my resume.

I did that recently & regret it

ETA: Not PWM
This post was edited on 11/12/17 at 1:07 pm
Posted by MSTiger33
Member since Oct 2007
20360 posts
Posted on 11/13/17 at 6:02 pm to
quote:

No joke. Having the big name in any industry carries weight on the resume. Creates a lot of bias in your favor from decision makers later on in your career.


Depends where you are. In NYC, it is almost expected that you work for a big name if you plan to do anything with your career in finance
Posted by Louie T
htx
Member since Dec 2006
36302 posts
Posted on 11/13/17 at 7:51 pm to
It's not all that beneficial in cities on the opposite end of the spectrum either. I'd eventually like to end up back in New Orleans, but a lot of people in "finance" in New Orleans don't have any clue what GS is.
Posted by Azazello
Member since Sep 2011
3182 posts
Posted on 11/13/17 at 8:50 pm to
quote:

a lot of people in "finance" in New Orleans don't have any clue what GS is.


Posted by lynxcat
Member since Jan 2008
24124 posts
Posted on 11/13/17 at 8:51 pm to
If someone in finance doesn’t know Goldman Sachs then that person isn’t in finance.

This is the equivalent of someone in consulting not knowing about McKinsey or an auditor not knowing Deloitte.
This post was edited on 11/13/17 at 8:53 pm
Posted by Louie T
htx
Member since Dec 2006
36302 posts
Posted on 11/13/17 at 10:50 pm to
I think you'd be surprised by the number of business grads from non-target schools who haven't any clue about GS or MBB consulting. There isn't exactly a ton of high finance in Louisiana.
Posted by lynxcat
Member since Jan 2008
24124 posts
Posted on 11/13/17 at 11:08 pm to
I would not be surprised if a lot of those business school grads have no idea what those firms really do. However, I would expect that they have at least heard of the firms.

I don’t even think my classmates that are going into consulting really know what they signed up for...they are just chasing a big paycheck and prestige
Posted by Louie T
htx
Member since Dec 2006
36302 posts
Posted on 11/13/17 at 11:14 pm to
quote:

I don’t even think my classmates that are going into consulting really know what they signed up for
70 hour weeks & brutal travel schedules
This post was edited on 11/13/17 at 11:25 pm
Posted by lynxcat
Member since Jan 2008
24124 posts
Posted on 11/14/17 at 1:47 am to
They get caught up in the recruiting and the “culture” at individual firms thinking their experience will be different.....yeah that’s all BS.

I did have an old colleague message me the other day and I would be lying if I didn’t think about what they would pay me to go back.
This post was edited on 11/14/17 at 1:47 am
Posted by Azazello
Member since Sep 2011
3182 posts
Posted on 11/14/17 at 8:39 pm to
quote:

I don’t even think my classmates that are going into consulting really know what they signed up for...


I think they dream about jetting from NYC - LA and solving corporate America's biggest problems.

Then they find out they're gonna be in Des Moines for 6 months working on supply chain hiccups
This post was edited on 11/14/17 at 8:40 pm
Posted by blackoutdore
Nashville
Member since Jun 2013
247 posts
Posted on 11/18/17 at 5:24 pm to
Yes, it was GS that I was referring too. I was supposed to go an onsite info day last week, but had to cancel last minute due to a family emergency. I'm still not sure its something I want to pursue, so I may just let it slide.

My background prior to MBA was internal strategy consulting for an F100 company, so I think the pure consulting route makes more sense for my interests.
Posted by lynxcat
Member since Jan 2008
24124 posts
Posted on 11/18/17 at 6:03 pm to
quote:

blackoutdore


We should connect. Relatable backgrounds.
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