This is obviously a rookie question... but since I AM a rookie and this is a "Rookie & Trainees" board, I figured I would ask anyway... Can someone explain what seg 1, 2, and 3 mean (from an Edward Jones perspective). Thanks in advance!!!
They are rough estimates of where a Jones broker's business is, based on achieving certain levels in any 4 month period, ONCE.
Seg 1 means new/haven't done much, Seg 2 means you've had a least a little productivity (to succeed you should hit within first year), Seg 3 you're getting to where you're at least viable long term...if you hit the Seg 3 min all year you'd make $75-80k gross total comp. You can stay at that level forever and Jones won't mess w/you. Seg 4 #s (at bottom level) are more like avg $120-130k/yr and production at which wirehouses like to see people if they've been around awhile. Seg 5 is very successful at Jones and not bad elsewhere (bottom end is equiv to income of $200k+/yr).
Thanks for the helpful information Cowboy. I love the helpful info on this site. Thanks again.
No problem...ps, I meant to ask--why the topic title "Bank Jargon" when asking a question about EJ?
"bank jargon" is jargon at my bank... obviously not the right way to label EJ... I'm just so used to saying it. my apologies.