Slow September

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Sep 27, 2006 8:12 am

Are you guys experiencing a rather slow month.

Sep 27, 2006 8:17 am

No.

Sep 27, 2006 8:34 am

Possibly my best month ever actually.

Sep 27, 2006 9:49 am
ezmoney:

Are you guys experiencing a rather slow month.


I'm in the slow month club too. I did $6000 last Thurday, and $14000 on Friday, in addition to a few thousand earlier in the week, so last week was well above average. But only 11Gs the week before and 10 the first week of the month. So far, this week isn't looking too hot either. Looks like this month will be off by about 15%. Flame me for using real numbers if you care to. Just telling it like it is. The new money pipeline is looking a little dry right now, so next month isn't looking great either. And the called security list is a little light to boot. Fees should help next month. Still, YTD is higher than a year ago.


And the fact that I'm here rather than on the phone shows that right now, I'm not in much of a mood to change things. Which is a topic in it's own right. This career takes a lot of energy. It's as if we're on stage everyday. regardless of what's happening in our lives we have to be "on" and "up" for clients. OK, I'm not complaining. This is what I signed up for. It's just that some days whatever it is that makes us able to do this job just isn't there. I for one have always recognized this and gone with it. Go with the flow, don't fight it. So this month and maybe next, my income will take a minor hit as I get my biorhythm in sync with my reality.


OK, the manager just emailed me to see what's up. I'm gonna tell him it's the biorhythm thing. Let's see how that flys.

Sep 27, 2006 10:04 am

The summer was terrible for me but September is looking good.

Sep 27, 2006 3:07 pm

i'm having my 2nd best month ever albeit my total tenure is 21 months


scrim

Sep 27, 2006 4:32 pm

$20,150.39.  An OK month, but I expect to do better going forward.  My next commission cycle is already over $20K, even if a couple of things don't hit so October is looking much better, as I have two commisson cycles each month.  The first one each month is usually better because it has my fee-based stuff in it.

Sep 27, 2006 6:10 pm

Every major event in my life originally surfaced in September--it's a great month to make things happen.

Sep 27, 2006 8:18 pm

It's all about the pipeline.  That and the monthly "annuity" known as cash management.  Highly recommend you look into this and make it part of the business.  And don't underestimate stock trades; while I am in full support of "fee-based management" and practice it regularly, there is still a place for trading.  Really helps out on non-fee months.


And remember- look at the big picture.  Months' are important but the annual is what is really counted.

Sep 27, 2006 11:24 pm

This is one of my better months

Sep 27, 2006 11:57 pm
bankrep1:

This is one of my better months


Did you get to do some overtime at time and a half? Neato.

Sep 28, 2006 10:01 am
Helter Skelter:
bankrep1:

This is one of my better months


Did you get to do some overtime at time and a half? Neato.



Actually, the wires are settling overtime cases filed by FAs. Some quirk in employment law entitles FAs to a minimum wage.

Sep 28, 2006 12:05 pm

That OT crap is just stupid.  Anyone who is making it in this industry doesn't even think about, much less care about overtime.  I sit on my couch with my laptop from 9 until midnight or so doing work and I don't even thing about how much time I'm spending.


Where I think the firms have screwed up is on mandating certain hours in the office.  Frankly, if a rep can't figure out how much time it takes after hearing a suggestion from his/her manager, they aren't likely to make it anyway.  If the firms would make some suggestions and leave it at that, the undesireables will soon weed themselves out anyway and what you'll have left are the self-starters...isn't that what the firms want anyway?  Why have a bunch of bums that have to be constantly ridden to produce...how efficient is that?!!

Sep 28, 2006 12:15 pm

My overtime comment was aimed at bankboy, who gets paid by the hour at his little bank job. He said it's been one of his better months. The only way it could be better than normal is to work a little o/t.

Sep 28, 2006 12:42 pm
Indyone:

That OT crap is just stupid.  Anyone who is making it in this industry doesn't even think about, much less care about overtime.  I sit on my couch with my laptop from 9 until midnight or so doing work and I don't even thing about how much time I'm spending.


Where I think the firms have screwed up is on mandating certain hours in the office.  Frankly, if a rep can't figure out how much time it takes after hearing a suggestion from his/her manager, they aren't likely to make it anyway.  If the firms would make some suggestions and leave it at that, the undesireables will soon weed themselves out anyway and what you'll have left are the self-starters...isn't that what the firms want anyway?  Why have a bunch of bums that have to be constantly ridden to produce...how efficient is that?!!



Yeah, I agree. I know of some very successful wirehouse brokers and ex wirehouse brokers who are getting settlements, including me. I don't get it. But, who am I to argue?


The problem with OT is that many of the young rookies don't get the unlimited top end income/work connection. The gross doesn't just majically appear one day. Lots of hard work. Lots of very long days..

Sep 28, 2006 12:43 pm
Helter Skelter:

My overtime comment was aimed at bankboy, who gets paid by the hour at his little bank job. He said it's been one of his better months. The only way it could be better than normal is to work a little o/t.


Helter, no barb intended. Just an observation.


Bank brokers are hourly wage earners? I didn't know that.

Sep 28, 2006 2:48 pm

Helter's just full of sh*t, ignore him.


This is my second full month in production and I did twice what I did during my first, and thankfully exceeded my goals for both months.


Oct. has the potential to come in at 5 or 6 times higher than Sept, if everything hits as it should.



Chris

Sep 28, 2006 3:04 pm

Bank brokers are hourly wage earners? I didn't know that.


Most that I know of are on a salary basis (exempt employee not hourly) + commissions.

Sep 28, 2006 3:40 pm
babbling looney:

Bank brokers are hourly wage earners? I didn't know that.


Most that I know of are on a salary basis (exempt employee not hourly) + commissions.



That's my understanding of how bank brokers are compensated, by salary and commission/bonus.

Sep 28, 2006 4:51 pm

I was in a bank and was salary plus commission to begin with, but was full commission by the end.  Obviously, it depends on the program.