So I'm finding myself more intrigued by Private Banking, but I'm not 100% sold on it yet.
I'm in the first year of my MBA and my biggest concern is using my only summer for a PWM internship, realizing I don't really like PB, and then not knowing what the next move is.
Can I leverage my PB skillset for something more substantial say commercial banking? Or how can I swing this to stay in finance? (IF i end up not liking PB)
Depends where you do PB, what your role is within the PB, and what skills you have developed in previous jobs.
Credit Suisse and it would be an internship so I don't think it would be so much RM as it would be analyst based...
previous jobs: tax accounting, corporate controllership, and general management
The good news here is private banking has offices almost everywhere, meaning there is probably one near your school. There is also likely a grad from your school working there. Shoot them an email, and ask to shadow them for a few days.
Do it over a holiday, or take a few days off class. Figuring out whether a career is for is definitely worth it; you might even decide against an internship in the field.
As for exits, I don't see many private bankers in other industries. I imagine the skillset would be transferable to sales (not securities, I mean f500) and fund raising. I have not met many private bankers professionally, but from what I can tell, most firms do not have you doing much anything quantitative.
Commercial banking is mostly credit analysis at the junior level, and I am not sure what the requirements would be at the post MBA level. I don't think the overlap is too substantial, but commercial banking jobs are generally not super competitive. I would think MBA level courses would teach everything needed.
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