BAC will steal you blind

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Mar 16, 2006 1:27 pm

anyone think of going to work for these guys should talk to the brokers already there. We get a new "comp" plan every dec always worse than the year before.

Mar 16, 2006 1:33 pm

yep. they're a lousy employer. They couldn't committ to a long term plan if their life were dependent on it. Horrible!

Mar 16, 2006 2:00 pm

BAC is that bad? It was only a few yrs ago when everyone said they were the place to be in bank brokerage. 

Mar 16, 2006 2:52 pm

Well like all banks that changes year by year. The leadership at these banks is really bad. They are not very talanted people.

Jul 31, 2006 10:39 am

amen

Jul 31, 2006 8:55 pm

any specifics?


my offer is 110k uppfront w/a 35% payout for 2 yeras then grid.


thoughts?

Jul 31, 2006 9:02 pm

Lock in your grid in a long term contract

Jul 31, 2006 10:25 pm

http://www.lawyers.com/Missouri/St.-Louis/Goldberg-Wehrle,-L LC-1046752-f.html?&co=



Enough said.


Jul 31, 2006 10:42 pm
CIBforeveryone:

http://www.lawyers.com/Missouri/St.-Louis/Goldberg-Wehrle,-L LC-1046752-f.html?&co=



Enough said.




What do the lawyers have to do with BAC?  It is possible this is a bad link?  Or am I missing something?

Jul 31, 2006 11:24 pm

Hope you plan on bringing a book of business with you.


See post in whats up at firms ,you`ll know what I mean

Aug 1, 2006 12:33 am

This law firm has 2 clients. Look at who they are. I'm familiar with one of them (i.e. the bad marriage analogy). This is my ex's divorce attorney (and several others that frequent the boards).



Aug 1, 2006 6:59 am

badmove:  First, you should do a quick search in this forum for different Bank of America posts.  There's been plenty of info on how bad it's gotten there. 


Second, I'm sure the Market Director tempted you with the large referrals that you'll be getting from Premier Bank.  What he neglected to tell you was that the comp plan for Premier Bankers (know as Client Managers) just changed on July 1.  Essentially, if they give you a $100K bank CD to invest, they take a $250K debit on the bank deposit side (2.5 times).  Also, if they find $100K from another source (such as a Wachovia CD), they will get $250K worth of credit if they put it into another Bank of America CD.  It's only worth $100K credit if it's given to you for investments.  This comp plan will definitely drive their behavior because this component is a big piece of their bonus money.


Third, I'm not sure of your background but most new recruits are getting a 40% payout.  You'll need it if you're here, especially for trail business that pays around 25%.

Aug 1, 2006 8:56 am

Walk away. You'll be glad you did. You are basically forced to prospect like a wirehouse rep for less pay. Was not part of the deal.

Aug 1, 2006 11:26 am
CIBforeveryone:

This law firm has 2 clients. Look at who they are. I'm familiar with one of them (i.e. the bad marriage analogy). This is my ex's divorce attorney (and several others that frequent the boards).





Ok...and so they have a law firm on retainer, just like any other b/d.  So what?

Aug 1, 2006 11:47 am
joedabrkr:
CIBforeveryone:

This law firm has 2 clients. Look at who they are. I'm familiar with one of them (i.e. the bad marriage analogy). This is my ex's divorce attorney (and several others that frequent the boards).






Ok...and so they have a law firm on retainer, just like any other b/d.  So what?
 


Relax-it was tongue in cheek. Only meant as an association with the evil mother ship.