I am 18 years old and am doing some research on the best jobs in finance. So many people online say that wealth management is the way to go (more pay and less hours), is this true?

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Wealth management by far is the best choice. Very difficult to be successful but if you make it you are golden.

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Send me a DM, happy to talk out the finance industry.

There are many facets of finance, and there may not just be one piece of it that universally fits for everyone. There may also be things you want to prioritize that may or may not emerge from finance.

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Yes it is not false.

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Unpopular opinion, WM is a dwindling path. More people are getting smart and realizing the value for active management is not there.

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I disagree. We’re getting clients by the boatload as people realize the value add of wealth planning and good tax strategies. Not to mention cash management, banking and credit all under one roof serviced by a designated team. Wealthy people don’t care about making an extra buck in the market they want white glove service that comes from a good wealth management team.

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Do you want to be in sales? Wealth management is generally going to be a sales position so it will be fine if that is your goal. Commercial banking is a good path as well if you want to be customer facing. If you want to be doing math or analytics then you need to go another path.

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How much does a commercial banker make? Just curious cause I don’t know the field well.

You will not start making the big bucks until you are a seasoned professional and that is someone with 15 to 20 years of wealth management experience with a successful proven track record. High-Net Worth and Ultra High-Net Worth clients will not trust someone with their money unless they are seasoned in wealth management. If you do get into wealth management after college you will start as an wealth management associate or analyst so your salary will be okay, but will not give you the luxurious lifestyles the seasoned wealth management professionals have. You have to work your way up to having a book of business with affluent clients who are millionaires and billionaires and earn their trust which can take years like I said to get to that level. I would recommend you get an MBA in finance as well. You will need your SIE, series 7, and Series 66 licenses. The series 7 license will be your hardest exam.

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If you consider highly paid and specialized finance areas like investment banking, hedge fund, or private equity you have to be ivy-league educated or from a top-tier university. But elite finance companies still have high preference for ivy-league individuals at target school especially at the entry-level. I am a 30 year old MD at Goldman Sachs. I have a AB in Economics with summa cum laude honors, MBA with summa cum laude honors, and JD with summa cum laude honors from Harvard University. I have my series 7, series 66, series 79, FRM, and CFA. I am a minority (African-American and Moroccan male). I received my undergraduate degree at 20 years old because I graduated high school at the top of my class at 16 years old. I got my MBA and JD at 24 years old through the Harvard Business School and Harvard Law School four year joint degree program. I started my first M&A Investment Banking internship at Goldman Sachs at 18 years old. I became an MD at 27 years old. If you want to be competitive for internships or even world class positions at elite finance companies you need to have a professional and academic background like me.

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This is the second time you’re posting something like this. Stop capping. You don’t need an Ivy League degree to work in IB.

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