Institutional Fixed Income Sales base salary and commission question
Hi, new to the forum, so would like to say hello to everyone on here!
I have a question regarding institutional fixed income sales. First, to give some background:
I have a bachelor's degree and am currently about to finish my master's in finance. I have a lot of experience in the equity and futures side from trading a retail account full time for 2 years, but none from the fixed income side other than school and personal research. I recently accepted a job offer in institutional fixed income sales at a local firm. I just passed my series 7 with a 95% and am scheduled to take my series 63 this week. My question ais bout the base salary that I was offered.
The offer was $2,000 per month ($24K / year) for the 1st year, plus commission; second year is all commission. Is this base salary low or relatively average for this type of position? Is this how most of the inst. fixed income sales firms do it?
Thanks for the input!