BAI Comp Plan

I'm sure you will be paid fairly for the effort and energy you put in.

bend over…under 350…15%

Have you seen the plan?

The call is at 4pm EST.  We have been told several times that we will go to Merrill’s grid sometime in 09.  The issue (according to management) is the technology to put us on their grid.  The bottom line is it can’t get worse.  At 30% payout how much worse can it get!

30%

over 5 los, under 350 is 15%.

No way bad move LOL. Even though I’m no where near that catagory I just couldn’t see it that bad. If it’s true I really feel bad for those people. They had there chance like all the rest of us to get their production up.

badmove is right - over 5 years, under 350; 18% with a 15% hold back = 15%

FA I

0 -     149,000  >5 12%  < 5 30%

150 - 249,999  >5 12%  < 5 30%

250 - 299,000  >5 15%  <5  30%

300,000           >5 18%  <5  33%

FA II

350 - 399 31%

400 - 499 34%

500 - 599 36%

600 - 699 37%

700 - 849 39%

850 - 999 40%

1,000,000 > 41% 

The trailer payouts for FA II have also jumped from 10% to 23% on the lower end of the scale and 31% at the top. 

unreal

What do guys thing?  Prob the worst grid on the street for 250 to 350 producers.

The 15% hold back kills me.  So your paying 12-18% and you want more of the poor guys money.  The message is clear.

So if you are over 5 years and $300K GDC, you get $54K?? I would move the day this new grid came out… Even if you production dropped in half to $150K and you got 60% payout you are making almost double…

[quote=chief123]30%[/quote]


That would only drop it to 21%.

[quote=chief123]So if you are over 5 years and $300K GDC, you get $54K?? I would move the day this new grid came out… Even if you production dropped in half to $150K and you got 60% payout you are making almost double…[/quote]


I don’t know about the other indies around here, but when I switched, my gross went up. I was so excited about keeping my own money that I loved the business more and it made me do more business.

I was just assuming some of these people are like a buddy of mine(@BAI) and do nothing but wait for referrals.



I left Jones and doubled my production in the first 9 months.

[quote=chief123]I was just assuming some of these people are like a buddy of mine(@BAI) and do nothing but wait for referrals.



I left Jones and doubled my production in the first 9 months.[/quote]

You’re right. I didn’t think of that.

Looks like WB is the only real bank program out there.

not only do sub 350 guys get hosed but i also heard that premier has no incentive to refer any business to BAI reps.    but i guess no incentive is better than a disincentive like they had before.  any comments on this from you BAI reps out there??

They are all out looking for places to xfer to

It's times like this when we need ez money to provide some comical commentary on the new comp plan

 That is the worst grid probably ever.  But guess the good news is it is becoming obvious.  If you work at this place or any other place in this business with a bank calling the shots its GAME OVER.  Look for this grid to get worse and makes its way to ML for 2010.  Looks for Wells Fargo to follow suit and slash payout.  This year 350k, next year 450k, and so on.  With a little imagination, you can predict, trailers cut, managed money cut, account size minimums to get paid…this is so obnoxious its funny.

that sucks. i would go else where and take my chances

[quote=today1]

not only do sub 350 guys get hosed but i also heard that premier has no incentive to refer any business to BAI reps.    but i guess no incentive is better than a disincentive like they had before.  any comments on this from you BAI reps out there??

Let the chaos begin…thousands people leaving, taking hundreds of millions of assets, lengthy arbitrations, legal work, BAISI and BAC will implode under its own incompetent 50 layer house of cards…I will enjoy watching it burn to the ground

No way bad move LOL. Even though I’m no where near that catagory I just couldn’t see it that bad. If it’s true I really feel bad for those people. They had there chance like all the rest of us to get their production up.

What do you mean by "they had their chance like all the rest of us to get their production up"?  When does it stop?  350K, 450k, 550k?....... Do you like working harder to make the same amount of money?  I thought it you got your production up you should make more money, not just stay even.  Does not sound like good business sense to me.  <?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Geez - that really sucks for you BAC guys. We just got our grids for wells and although the payout has gone down for wachovia guys, its still higher than this - plus the wall between bank assets and investment assets, including incentive for the bank to refer to us has been obliterated under wells.

They might as well given everyone under 350 a pink slip.

I went to LPL in 2006 and was around 340 when I left. Looks like I way made the right move.