EJ Pass Program

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Sep 30, 2008 9:26 pm

Hey guys, I just signed up and let me tell you, on behalf of all of the new posters, thanks for sharing your experiences and knowledge with us.

I just did a search for the EJ "Pass" program and came up with surprisingly little.

My situation:
I'm about done with college and have a cousin and a friend that work for Jones. They both recommend it highly. I've done a ton of research and must say that Jones looks to be the best fit for me, and of course provides some of the best training to be had.

My issue is that my cousin who's been with the firm for probably 6+ years now, tells me that I should do the Pass program once I get in (assuming I get in).
My friend who's only been with Jones for 6 months or so tells me not to waste my time with it. He claims that it's more or less 4 months of bitch-work that will only inhibit my ability to get through the already intense beginner's phase of the business. In fact, he tells me that he's now well ahead of two other guys that did the Pass program (he didn't) although they started well before him at Jones.

Does anybody here have experience with the Pass program? Would you recommend it?

Any other feedback from Jones personnel would be helpful regardless of your knowledge of the program.

Thanks kindly.

Oct 1, 2008 8:23 am

What is the pass program?  Is that where you go to St. Louis and work at corporate?

Oct 1, 2008 9:45 am

Your friend hasn't got a clue about the PASS program.  For starters, it's a much longer process than 4 months.  Second, PASS program people usually take over decent sized offices.  Third, you go through the same training that the normal FA would, but you get a lot more practice and experience with dealing with clients, phone calls, paperwork, etc before you actually hit your own office door. 



 
So, here's my take on the PASS program, take it for what it's worth.  I think there is a big benefit to someone like yourself who is just hitting the workforce going through the PASS program.  Let's say you just go straight into training as an FA months after graduation.  You pass your exams, go through the classes, then hit the field as a new/new with zero assets.  You're starting from scratch.  The odds are not in your favor to survive the first three years.  You may even find out a few months into the gig that you really don't want to be an FA.  Now you're stuck with trying to figure out what to do with your career now. 
 
If you go into the PASS program you'll get exposure to all sorts of different settings at EDJ both on the FA side and the grunt work side.  You'll actually know much more than you need to on the grunt work side, but at least you'll know what to do when the dog catches the car.  You may find out that you don't want to be an FA and would rather work at some 9-5 type job in HQ.  You'll be well positioned to find one of those jobs.  But, if you decide to move forward as an FA, you'll have the opportunity to basically pick what part of the country you want to live in and then find an open office there.  You may take over a $3mm office or maybe one ten times that big.  Who knows.  But, because you'll have been through the PASS program, Jones will feel more comfortable with handing you the bigger office because you aren't an unknown player with zero experience. 
 
I think for someone in your situation it would be a valuable process to go through.  You're probably all of what 22 or 23 years old?  Do yourself a favor and spend a year at the beginning of your career  learning about the industry you are entering. 
Oct 1, 2008 11:45 am

Are you married? If not, screw going straight to work out of college. Go spend a couple years living in Europe, or Mexico or Brazil. All you have to do is earn enough to keep yourself alive.  

 




If you don't do something like that while you have the chance, you'll always wish you had.
 
Edward Jones will be here when you get back--hopefully--and you'll inevitably do better if you're a little older. It's tough to walk right out of college and get people to trust you with their serious money. Hell, it's tough getting people to trust you at 30 or 40 or 50.
 
Good luck.
Oct 1, 2008 1:58 pm

Spiff is correct! Do the pass if you can. Yes, people that get hired and become an FA and skip pass don't give you as much credit but in the end your chances of being there is high whereas their chances are MUCH lower. I didn't do the pass program but everyone I know that did is sitting happy. Big offices, loads of experience.



Miss J

Oct 1, 2008 4:30 pm

If you really want to be a broker, I think the pass program is an excellent opportunity

Oct 1, 2008 4:36 pm
Borker Boy:

Are you married? If not, screw going straight to work out of college. Go spend a couple years living in Europe, or Mexico or Brazil. All you have to do is earn enough to keep yourself alive.











If you don't do something like that while you have the chance, you'll always wish you had.



Edward Jones will be here when you get back--hopefully--and you'll inevitably do better if you're a little older. It's tough to walk right out of college and get people to trust you with their serious money. Hell, it's tough getting people to trust you at 30 or 40 or 50.



Good luck.




Why take off years and go to Brazil when you can just pay for a nice trip out of your hard earn money.. I am going to Brazil for two weeks in November...that will be plenty of time to let off some steam and get back to work and like Ice said... Make some money.

On of the perks for working at Jones you get to win great trips (add on a couple days and really enjoy yourself) also you get a nice profit share in your 401k and make a good living.



Take the job and pocket the money.



Miss J

Oct 1, 2008 7:33 pm

Spiff, it was actually my cousin (who's been with Jones for a while and has guided others through the Pass program) who told me about it being 4 months. Perhaps it's different in certain markets?

As far as going overseas first, I've lived in Europe for 8 years of my life, AND I'm married, so I'll skip the vacation.

Anybody against the Pass program? So far everybody is for it... kinda hoping for some differing opinions so I can hear both sides of the coin.

Thanks guys.


Oct 1, 2008 10:01 pm
2JonesOrNot:

Spiff, it was actually my cousin (who's been with Jones for a while and has guided others through the Pass program) who told me about it being 4 months. Perhaps it's different in certain markets?

As far as going overseas first, I've lived in Europe for 8 years of my life, AND I'm married, so I'll skip the vacation.

Anybody against the Pass program? So far everybody is for it... kinda hoping for some differing opinions so I can hear both sides of the coin.

Thanks guys.


 
You're married? Forget I mentioned Europe.
 
As far as the PASS program goes, I'd say go for it. A friend of mine who works for Jones has a son who went to the PASS program and recently took over a $100 million office. He's doing Segment 4 numbers with trails alone. (Ask your cousin what that means.)
 
And I'm sure he's already been asked to speak at his first regional meeting about what the rookies should do to be fast starters like he is.
 
 
Oct 2, 2008 5:53 pm

2jones,

 
I went through the pass program straight out of college and let me tell you... TAKE IT IF YOU CAN GET IN!!!  PASS is specifically for people with no real world skills and I don't think I could have made it without.  The problem is, PASS is extremely selective and is so nepotistic now that even if you wanted, I bet you couldn't get in.
 
PM me if you would like more info on it.
Oct 2, 2008 6:50 pm
Borker Boy:
2JonesOrNot:

Spiff, it was actually my cousin (who's been with Jones for a while and has guided others through the Pass program) who told me about it being 4 months. Perhaps it's different in certain markets?

As far as going overseas first, I've lived in Europe for 8 years of my life, AND I'm married, so I'll skip the vacation.

Anybody against the Pass program? So far everybody is for it... kinda hoping for some differing opinions so I can hear both sides of the coin.

Thanks guys.


 
You're married? Forget I mentioned Europe.
 
As far as the PASS program goes, I'd say go for it. A friend of mine who works for Jones has a son who went to the PASS program and recently took over a $100 million office. He's doing Segment 4 numbers with trails alone. (Ask your cousin what that means.)
 
And I'm sure he's already been asked to speak at his first regional meeting about what the rookies should do to be fast starters like he is.
 
 
 
Don't get your hopes up about getting a $100MM office if you get into the PASS program.  I would say those type of deals are a once in a decade deal.  Maybe $20MM is a better number to expect.  Still a good start.
Oct 2, 2008 8:29 pm

I stand corrected:


The internship they're offering in my area is 4 months, NOT the Pass program.


Thank you all again for your feedback. My questions have been answered.

Oct 3, 2008 1:57 pm
Borker Boy:
2JonesOrNot:

Spiff, it was actually my cousin (who's been with Jones for a while and has guided others through the Pass program) who told me about it being 4 months. Perhaps it's different in certain markets?

As far as going overseas first, I've lived in Europe for 8 years of my life, AND I'm married, so I'll skip the vacation.

Anybody against the Pass program? So far everybody is for it... kinda hoping for some differing opinions so I can hear both sides of the coin.

Thanks guys.

 
As far as the PASS program goes, I'd say go for it. A friend of mine who works for Jones has a son who went to the PASS program and recently took over a $100 million office. He's doing Segment 4 numbers with trails alone. (Ask your cousin what that means.)
 
And I'm sure he's already been asked to speak at his first regional meeting about what the rookies should do to be fast starters like he is.
 
 
That's cool.  A friend of mine at Merrill took over a 125mm book from his father a few years ago.  He does about 850K gross just by showing up.  Little better than seg 4, too.
Oct 3, 2008 3:31 pm

Why don't you join your friend and help him grow that business?

Oct 3, 2008 3:34 pm

Bspears...it's Friday and all is well. Glad you joined in the Freaky Friday debates.

Oct 3, 2008 3:55 pm
bspears:

Why don't you join your friend and help him grow that business?

 
That's actually a great suggestion.  I can't imagine trying to successfully manage a $125MM book right out of the blocks.  Especially without a team.  But, man, would I love to try it sometime. 
Oct 3, 2008 6:36 pm
bspears:

Why don't you join your friend and help him grow that business?

 
I'm pretty sure Merrill doesn't recruit Jones guys.
 
Something about us being "Junior Varsity"...