Difference between EJ and Smith Barney

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Jul 23, 2008 2:35 pm

Hi everyone,

I currently have an offer from EJ but am very interested in SB.  Is door knocking something that is done just by EJ or do Smith Barney FA's door knock as well?  I'm just curious to see how SB FA's prospect...cold calling I'm guessing? 

On top of that EJ drops me to 28k a year after I can sell, anyone know what Smith Barney usually starts at? 

Any help is appreciated. 

Jul 23, 2008 2:47 pm

I'm in a similar situation trying to decide between EDJ and SB.  EDJ seems to have the best training of anybody.  I'm not crazy about door knocking either but I've been told it's really only for the first 6 months, and then you can do whatever you're having the most success with as far as prospecting goes.  Everyone I talked to at SB cold calls.  The only "cold walking" I've heard of at SB is some of the guys who will sometimes go out and just walk into small businesses to talk to the owners.  At SB the starting salary is around $40k and that last for 30 months.  My question is whether or not the better training at EDJ is worth the difference in pay at SB.  Also, I got along great with everyone at the local SB office, that makes a big difference too.

Jul 23, 2008 2:51 pm

Thanks for the reply, but who ever told you 6 months of door knocking is honestly lying to you.  I've been told by HQ and other local EJ vets in the area its for 3 years...unless you're coming from a bank w/warm prospects. 

I agree that the training is probably better at EJ but I am not sure about the door knocking.  I have no problem calling as I can be whoever I want to be on the other line. 

Jul 23, 2008 3:32 pm

It's actually a couple of FA's with EDJ that told me about 6 months of door knocking.  After that as long as you're hitting your numbers with contacts and new accounts EDJ doesn't care how you get them (cold calling, door knocking, etc.).

 
Maybe one of the EDJ vets could give us a better answer.
Jul 23, 2008 7:04 pm

I would not mind reading about the difference in the startup/training of SB. Is it the same for someone who already has a S7/63?

Jul 23, 2008 7:13 pm

At Jone you MUST doorknock and I believe that SB you may doorknock, though I never heard of anyone that has.  If you're good at it, 6 months is possible but 12 is more likely.  It is true that many successful vets (claim to) have dk'd for 3+ years and that's probably why they're successful.  Dk'ing sucks but I always amazes me how it does work.  If you do it, you will find accounts.  Maybe not the most efficient way, but it works.

Jul 23, 2008 8:24 pm

Neither firm cares how you get clients.  At Jones, you have to go through the motions in the beginning, but if you shoot the lights out they won't give a rats a$$ how you got them.  As far as doorknocking, the answer you get depends on every individual's point of view.  I have heard some people that doorknocked for 3 years that were bascially told to STOP doorknocking and start working their book/prospect list - not as a requirement, more as advice.  I also know guys that never doorknocked one day.  I know MANY that only doorknocked for a few months, and MOST stopped in less than 18 months.  BUT, if your numbers suck, the first question will be, how's doorknocking going.

 
Keep in mind, Jones just has their method.  It is their method of teaching you how to get clients when you have no other method on your own.  Anyone that tells you that you have to doorknock for more than 1 hour is wrong (they may think they are right, and it may be their opinion or belief).  Now people will DEFINITELY question you if you don't, so you better sure as he!! produce.  But you have to decide how you are going to get clients.
 
Jul 23, 2008 11:33 pm

I'm not going to comment on EJ training. Because I neve went thru it. I did go thru SB training, 9 years ago. It is top notch. Where you got the idea that EDJ training is better would probably be the subject of an interesting discussion (I'm trying to be nice). You will not find better training anywhere in the industry, in my opinion.

As far as firm vs firm, based on everything i;ve heard, particularly on this board, but also from an aquaintance who left SB (couldnt make the numbers) and ended up at EJ, the difference between EJ and SB is the difference between the NY Yankees and the Colorado Rockies (no offense to Rockie fans). Different planet.
Good luck