MSSB Place to be?

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Jun 16, 2009 12:44 pm

I am scheduled for an Interview with the new Morgan Stanley Smith Barney branch office in Manhattan next week, I was in the business about 10 years ago at a boiler room type operation and then left to work in real estate financial sales, I am thinking about leveraging my contacts to re start my career to build an financial advisory practice.  What is the best way to approach a base salary requirement two years. I have a minimum number that i can survive by going into my savings but prefer to have a base that can cover my mortgage and home expense. That number would be around 7,000 a month, around 80K a year. What are the new reps at MSSB getting, I know SB was paying 80 plus and then MS had a rain maker program that they discontinued that was paying 150 per year for the fist to years.

Jun 16, 2009 9:52 pm

bump

Jun 22, 2009 2:45 pm

I have no complaints about MSSB thus far. As far as salary it varies wherever you go. I imagine in the manhattan offices they pay near the top for new recruits. I was under the assumption that MSSB was only hiring FA's on teams at the current moment, but I could be wrong.

 
FYI assuming an 80k salary that lasts for two years. You'll need to be producing a minimum of 216k to replicate the salary. Not exactly easy in these market conditions, but certainly do-able.
Jun 22, 2009 8:59 pm

Ok Guys! My interview is very soon, any advice, really want to work for the new MSSB, i think it is a good place to build a book and has a good brand, any word on starting salaries?

Jun 22, 2009 10:54 pm
akmpres:

I am scheduled for an Interview with the new Morgan Stanley Smith Barney branch office in Manhattan next week, I was in the business about 10 years ago at a boiler room type operation and then left to work in real estate financial sales, I am thinking about leveraging my contacts to re start my career to build an financial advisory practice.  What is the best way to approach a base salary requirement two years. I have a minimum number that i can survive by going into my savings but prefer to have a base that can cover my mortgage and home expense. That number would be around 7,000 a month, around 80K a year. What are the new reps at MSSB getting, I know SB was paying 80 plus and then MS had a rain maker program that they discontinued that was paying 150 per year for the fist to years.

 
Do you have a rolodex of about 400 people you can call warmly?  Seriously.  That was the AG Edwards question....
Jun 23, 2009 2:11 am

Don't you mean "Morgan Stanley Dean Witter Solomon Smith Barney Primerica Citigroup"?

Jun 23, 2009 11:33 am

Depends on your market and your work history/education. Could range anywhere from 30k-80k is my guess.

Jun 23, 2009 12:52 pm

Your local  Walmart store will give you more credibility then Citi-Morg. 

Jun 23, 2009 3:48 pm

And most of the folks at Wal-mart know the difference between then and than.

Jun 23, 2009 8:09 pm
Borker Boy:

And most of the folks at Wal-mart know the difference between then and than.

 
I didn't realize Wal-mart actually hired high school graduates.