[quote=joedabrkr]
Gee Mr. Newbie/Big Easy/Putsy/Sanchez, how did ya get so goldurn smart?????
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//–> [/quote]

Intelligence is a genetic deal, like blood type.  I was lucky to be very bright.

But I took that luck and parlayed it into a vast amount of experience by paying attention to what was going on around me, asking a lot of questions, and studying human nature.

[quote=NASD Newbie]

[quote=joedabrkr]
Gee Mr. Newbie/Big Easy/Putsy/Sanchez, how did ya get so goldurn smart???
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//–> [/quote]

Intelligence is a genetic deal, like blood type.  I was lucky to be very bright.

But I took that luck and parlayed it into a vast amount of experience by paying attention to what was going on around me, asking a lot of questions, and studying human nature.

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//–>

Yes you are.

Is it just me or does anyone else hear the theme of the dueling banjo’s playing in the background?

[quote=NASD Newbie]

[quote=joedabrkr]
Gee Mr. Newbie/Big Easy/Putsy/Sanchez, how did ya get so goldurn smart???
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//–> [/quote]

Intelligence is a genetic deal, like blood type.  I was lucky to be very bright.

But I took that luck and parlayed it into a vast amount of experience by paying attention to what was going on around me, asking a lot of questions, and studying human nature.

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//–>

Are you aware of the studies that show that attractive people get the promotions?

[quote=NASD Newbie]Are you aware of the studies that show that attractive people get the promotions?[/quote]

That's so true!  And of course, stupid, ugly people end up in middle management.

[quote=NASD Newbie]Are you aware of the studies that show that attractive people get the promotions?

That's so true!  And of course, stupid, ugly people end up in middle management.[/quote]

Folks:

Thank you to those who put forth helpful information about Edward Jones.  Obviously with all companies there is good and bad, but as I come close to making a final decision, it would be great just to hear from those who can share real, informative insight.

These are the questions I still have.

1. Is it realistic to think that you will make any real money commission wise your first 12 months of selling?

2. The production goal of 120 accounts by month twelve seems awfully lofty for someone getting into the business.  If you don't reach that goal will they automatically delay your getting your own office and branch office administrator?

3. Is there ANY room for negotiation on the first year "base" salary compensation?

4.  Has anyone asked for and successfully delayed their start date ?

5.  Is there anyone out there that found the door knocking to be a positive pleasant experience.  It obviously seems strange to a lot of people but for my two cents so does sitting in front of a phone book and calling people all day.

6.  Does the positive side of the training subside once you begin with a field trainer?  According to the reps, the increased competition does not affect the field trainers frame of mind in so far as helping you to succeed.

7. Big Question:  Is there another way to begin in the business where I can expose myself to good training and experience but maybe attain a slightly higher salary and some benefits until I decide whether it's right for me.

Thanks for your help.

Aja

Aja1:

1. Yes, it is possible to make decent commission your first year, but you have to work really hard to do it.  Of course, that's somewhat relative depending on what your definition of 'real money' is.  $100K commission your first year out? Definitely possible, but not likely for most.  Second year, much more likely.  If that's what you're looking for your first year out, look elsewhere.

2. The 120 accounts in 12 months is a 'goal' not a requirement. You get an award if you do it. Some win, some don't. I personally know a rep who opened over 400 accounts their first year.  That goal is not what getting the branch office or getting an assistant are based on.

3. There isn't much room for negotiation.  They give you a base, a tremendous amount of training, and a support staff at the home office that knows everything you don't. They pay for everything related to leasing office space, building it out to spec, basic furnishings and give you a dedicated assistant when you've earned it.  They expect you to study, pass the Series 7 and 63, work really hard, meet a lot of people face-to-face and find ways to open accounts and sell investments.

4. I'm not sure what you mean here.  As I recall, you're given a range of start dates after you're extended an offer. If you've spent that much time in the recruiting process, you should have an idea of when you can start.

5.  Door-knocking is not for the faint-of-heart, nor is it for those with ego-control issues.  There will be some good days and more bad days.  No one expects you to love it, but if you work for Jones you WILL do it and you will come to understand how fundamental it is to the business model.  It's very difficult in both rural and metro areas, I know reps who washed out and others who did very well in both settings.  Keep that in mind when considering Jones vs. a wirehouse.

6.  Some of the most essential training you will receive comes from the other reps in the field who are assigned to help you (and from their assistants).  You can teach just about anyone to pass a test, but that doesn't teach them what they need to know in the field, aka the real world.  The reps in the field who are concerned about competition generally don't volunteer to be trainers.

7.  Have you considered working as an assistant in an office, for Jones or anyone else?  If you're not sure this is the field for you, you may want to do more research.  Sorry to sound negative on that one, but it sounds like you want a firm to give you your cake and feed it to you too.  This is definitely a pay-your-dues, earn-your-way industry.

Hope this helps. 

Aja1:

ladyrep hit the nail on the head with Jones.  There's not a Jones IR out there that will tell you starting with Jones is easy.  Most people will tell you that doorknocking sucks.  I think cold calling hundreds of numbers a day sucks, but that's  just me.  I think it works in either small or large markets.  Just depends on the IR starting.  By the way, except for the initial training period Jones doesn't make you doorknock. 

I think a lot of the training success depends on the person training you.  My first mentor was awful.  Didn't teach me a thing.  So I found one on my own who has really helped my development.  Jones is great at giving help when you ask for it.  But if you are doing well according to their standards they'll pretty much figure you're OK and leave you alone. 

I'm going to disagree with ladyrep on one thing.  I don't think it would help much to be an assistant at Jones.  It's difficult to go from a BOA to an IR.  You might get to know the tech side some, but you'll be too busy with BOA work to learn much about the IR position. 

If you're serious about Jones, I'd suggest talking with more brokers than just the one interviewing you.   You might get a different answer from someone not involved in the hiring process.

Spiff-

I disagree with your disagreement. Was a Jones BOA for 7 yrs. Didn't go in with the intention of becoming licensed - but soon understood that while I enjoy working in the support role, I want to advance. 

My empathy for my Rep's position became a valuable asset to her career. I understood then (as I still do today) that if fail in some aspect of my job, she might not make any money. I also understand that I earn my paycheck rain or shine - while my Rep may or may not get paid for the work she does.

The BOA work at Jones is mindless (once you are fully trained and have a routine down) and if you keep your ear to the ground, you can learn a great deal about the IR position, IMO.

Cold calling? Door knocking?

All that sht is intended to do is dehumanize you, turn you into an *sshole, and learn to hate people (that you are trying to screw) to the point that you become determined to “get even”.

F that.

[quote=Slim2None]Cold calling? Door knocking?

All that sht is intended to do is dehumanize you, turn you into an *sshole, and learn to hate people (that you are trying to screw) to the point that you become determined to "get even".

F that.
[/quote]

Haha, weird.  What do you mean?  Jones wants you to door knock so that you hate people and want to screw them out of their money?  ahahahaha

Slim2None,

I'm not sure I understand the "dehumanize" comment.  I think the doorknocking takes you a lot closer to the "human" side of things than dialing a phone, mass mailing, or seminar after seminar does. 

I think if your attitude while doing any prospecting is screw people, take their money, me me me then you're in the wrong biz.  I got into this biz not just because of the financial rewards, but because I feel that people really do need help. 

Maybe you can expound on the "dehumanize" concept.

I Have been with Jones for 5 years. Started an office from scratch. I have answered your questions below.

1. Is it realistic to think that you will make any real money commission wise your first 12 months of selling?

Yes it is possible. You will work very hard. I would not expect more than $60000 gross ($24000 net to you) in commissions. You will be doing well to do those numbers if you start from scratch. Add that to your base salary, and you made about $55000-$60000 year one. It depends on some of the bonus incentives you hit or don't hit. 

2. The production goal of 120 accounts by month twelve seems awfully lofty for someone getting into the business.  If you don't reach that goal will they automatically delay your getting your own office and branch office administrator?

120 is not lofty. very doable. expect to knock on a lot of doors (I opened one account for every 10 doors I knocked on--you do the math). if you have 120 accounts at the end of year one, you will be in an office with a BOA by your first anniversary date of selling (not of being hired)

3. Is there ANY room for negotiation on the first year "base" salary compensation?

Your base salary under the new comp system will be based on your employment history. Not very negotiable. Jones is very "pay for performance".

4.  Has anyone asked for and successfully delayed their start date ?

Sure. but there have been mitigating circumstances in most of these cases.

5.  Is there anyone out there that found the door knocking to be a positive pleasant experience.  It obviously seems strange to a lot of people but for my two cents so does sitting in front of a phone book and calling people all day.

There is nothing natural about it. But the way Jones teaches you to do it is very nonthreatening and very effective. Your ratio of calls/accounts skyrockets with doorknocking as opposed to cold calling. 10 doorknocks/account as opposed to 200 calls/account. The first few are the hard ones every time you go out. Once you have a couple out of the way, though, it is an oddly peaceful experience. I honestly enjoyed it once I got out of the car. getting out was the hardest part. It beats the crap out of cold calling.

6.  Does the positive side of the training subside once you begin with a field trainer?  According to the reps, the increased competition does not affect the field trainers frame of mind in so far as helping you to succeed.

We have a good cop/bad cop thing going on. The field trainer's job is to make sure you're doing the work and getting your numbers. Your mentor is the shoulder to cry on. Both, however, should be resources for you. The increased competition does bother some people, but sheesh man there is enough biz to go around. One person can only do so much.

7. Big Question:  Is there another way to begin in the business where I can expose myself to good training and experience but maybe attain a slightly higher salary and some benefits until I decide whether it's right for me.

In a word: no. Jones is the best place to learn if you are cut out for it, in my opinion. Their standards are reasonable and attainable if you are willing to do the work. You would have those things if you could get hired by a wirehouse, but good luck with that. With no experience it's next to impossible to get hired ny a Smith Barney or a Merrill Lynch.

Hope that helped.

RS

and I would wager that Slim2none is either not in this business or hucking Equity indexed annuities at everyone he talks to. That's certainly what I would try to sell someone if I hated them.

Rockstar,

I like your answer to #5.  I have been door knocking for a very short time and agree that the hardest part is getting started every day.  I have actually driven down a road only to turn around twice before I push myself out to get started.  After the first couple of the day it's not that bad.  One suggestion: if you work close to home, don't have lunch at your house, you only have to go through the same routine that you did in the morning.  I do find the 25/day to be on the difficult side so far. 

Aja,

I just wanted to jump in an contribute my two cents. I've only been doorknocking for Jones about 4 weeks now. I don't mind it at all. Actually, I enjoy it. I like meeting people and I find it really interesting to introduce myself to all sorts of different people with different backgrounds every day. And when people are cold or aloof to me, I take it not as a personal affront, but rather as a challenge (How could I have directed that conversation to make a different impression? How could I have responded to their behavior to better direct the meeting?).

The only frustrating part for me is when I'm out in the middle of the day and very few people are home on an entire block. Then I feel like I'm wasting my time. But once I have some clients I can use that time for callbacks and/or appointments.

I never had any problem getting out of my car to start doorknocking. Heh, when I took my two-day insurance class I felt really wierd that I hadn't doorknocked for 4 days (Sat-Tue). It was a relief to get back out on Wednesday. After all, the Jones model for success is built on (what I call) Shots on Goal: the more shots on goal (doorknocks) I make, the better my chance for goals (accounts + commission).

Aja, what part of the country are you in? I'm in a large city and my market is mostly tract housing/suburbs. Many of the new reps here are doing very well their first year. Apparently it's all about how hard the individual works. ie, do you settle for (the required) 25 new contacts each weekday or do you challenge yourself for more than the minimum? I have a stay-at-home wife that looks after our 2 small children and I've been able to find time to get over 150 contacts a week. It's possible to succeed. And the training that Jones gives is top notch. That, combined with the first year of supplemental salary makes this job that much easier to start in.

My field trainer is very busy but is very involved in training me and helping me to succeed. At Jones, everyone benefits from everyone excelling. It's not competitive - it's cooperative.

I delayed my start date one month with no problem.

I left a PM position at a major national bank because they wouldn't train me to move over to the investment side. Jones trained me, paid me to study, and is paying me a supplementary salary with milestone bonuses for my first year-and-a-half. I am optimistic that those provisions plus my intelligence plus my work ethic will result in a successfull career for me and my family. I am willing to take a cut in net pay for 2 years while I build my business. The result should be increased wealth and freedom for myself and my family. I like the idea of being my own boss and manager, able to take time off as I desire, and build my business as I like.

I hope this helps. As I said, I've only been with Jones since May 06 so I'm still very green. But I'm very optimistic as well.

SM

PS - I'm surprised at the extent of childish bickering in this thread. It's petty, mean-spirited and rude to the OP. Moderators should delete the BS posts. Another $0.02 from me.

Nice post Colorado.
What I have been acknolweding in these forums is that