Wealth Management Managing Directors

Employers

There are thousands of wealth management businesses in the United States alone. Many U.S.-based firms are headquartered in New York and other major cities such as Boston, Chicago, Dallas, Denver, Houston, Los Angeles, and San Francisco. Many large U.S. firms have offices in foreign countries. Among the top banks in the world by assets under management are UBS, Morgan Stanley, JPMorgan Chase, and Bank of America.

Starting Out

The career of managing director is not entry-level, and it takes many years of experience in lower-level positions (analysts, associates, portfolio managers, vice presidents) to become qualified to enter this occupation.

While in college, use the resources of your school’s career services office to locate jobs, improve your resume, and practice your interviewing skills. Many wealth management firms recruit on college campuses. Check with your career counselor or visit the Web sites of WM firms for recruiting schedules.

Participating in an internship at a WM firm is an excellent way to break into the field. Many of the largest firms have internship programs in place, which they use to identify promising candidates for full-time employment. For example, the well-known financial services firm Edward Jones offers several internship programs (https://careers.edwardjones.com/career-areas/students-and-recent-grads)—including a co-op program, accelerated leadership program, and internships at the firm’s headquarters. Each year, Vault.com ranks the best internship programs (including those offered by the financial services industry). Visit https://vault.com/best-internships-rankings-search/150-best-internships for the latest list.

Other job-search strategies include using social networking sites (such as LinkedIn), hiring recruiters for assistance in the job search, using job sites, and applying for jobs at the Web sites of potential employers.