There is a lot of confusion between Asset Management and Wealth Management. Wealth management is done by the sell side banks and they serve individual customers be it retail or accredited investors. Asset management refers to buy side ong-only asset management firms and they serve accredited or institutional investors. These are typically trillion dollar asset managers like blackrock, vanguard, etc.

Wealth management or corporate banking in banks typically pays 5-7k for graduate programs. Asset management companies such as cap group or wellington pays 10k for their fresh grad analysts. Huge difference in prestige and pay.