MSSB production numbers

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Sep 8, 2009 3:09 pm

I heard that MSSB, because of the recent merger, is changing their production numbers for new hires. Anyone who works for MSSB can confirm this? And what are the numbers?

Sep 8, 2009 4:21 pm

I posted this a few threads down, this is for year 1...

 

The top tier goes by quarterly goals.  I'll give you first year by quarter.  You have to hit 2 out of 3 to be in the top tier.
 
By month 3--- 2M in assets/1M fee based/15k gross commissions
By month 6--- 4M in assets/2M fee based/35k gross commissions
By month 9--- 7M in assets/3M fee based/55k gross commissions
By month 12--- 10M in assets/4M fee based/75k gross commissions
Sep 8, 2009 4:22 pm

It has changed for new hires as of today (or that is what I heard). I don't think those numbers are relevant anymore.

Sep 8, 2009 4:24 pm

Figures they would change on me.  I was given that sheet 2 weeks ago...

 
They changed that recently?
Sep 8, 2009 4:25 pm

That is what I heard today. Don't know if it is BS or not.

Sep 8, 2009 4:26 pm

Do you have a link, or did you hear this word of mouth?

Sep 8, 2009 4:28 pm

Heard this from a BM at MSSB.

Sep 9, 2009 9:00 pm

Anyone know what the new numbers are?

Sep 10, 2009 12:38 pm

They may have changed things, but it won't take effect until 2010. Whatever goal schedule you were on, you stay on that for 12 months regardless of when they implement the new FAA comp.

Sep 10, 2009 2:39 pm
workinhard:

I posted this a few threads down, this is for year 1...

 

The top tier goes by quarterly goals.  I'll give you first year by quarter.  You have to hit 2 out of 3 to be in the top tier.
 
By month 3--- 2M in assets/1M fee based/15k gross commissions
By month 6--- 4M in assets/2M fee based/35k gross commissions
By month 9--- 7M in assets/3M fee based/55k gross commissions
By month 12--- 10M in assets/4M fee based/75k gross commissions
If those are for the top tier, what are/were the numbers to keep your job?  $2m by month 3 is killing it.  Are they just cold calling??
Sep 10, 2009 2:45 pm

Talked to a friend of mine who is starting over at a wire in Ohio today.. MS legacy office said production was as follows:

3month- 1.3M assets/$12k gross
6month- 2.5M assets/$25K gross
9month- $4.5M assets/$45 gross
12month- $7.0M assets/$70k gross.
 
That is tier 1. Also there is a 3 month ramp up. where no production is required(allowed, pure prospecting)
 
Also got paid 1.5x on manage money up front. But accounts under $50K unless in a household of $75K don't count toward production, but do towards assets.
Sep 10, 2009 10:42 pm

Wow.

 
If these new goals that you just presented are true squash, I'm walking into an even better situation than I thought!  Can your goals vary by region or are all new hire goals uniform throughout the company?
 
Also, when you say tier 1, you mean top quintile correct?
 
Last... I was told that as an FAA (first three years), you get paid on all money, no minimum until you are purely commission with no training salary.  Is that still true?
Sep 11, 2009 11:35 am

He said that was tier 1, exceptional performance. Tier 2 is 25% less and tier 3 is find a new job.



he was told asset count regardless of size. but revenue only counts on $50K or higher if individual or $75K household.

Sep 11, 2009 12:21 pm

Wow.

 
I really hope that's true!  Those are much different goals than I was originally shown.
Sep 11, 2009 2:22 pm

Those are similar to number I got. But get conflicting information on the household size.

Sep 11, 2009 3:13 pm

Obviously things are still vastly different on the legacy Morgan Stanley and legacy Smith Barney Sides. Top tier on the legacy SB side is 10MM after first year. I don't see them lowering the goals, but raising the Morgan Stanley side in order to coincide.

Sep 11, 2009 3:36 pm

To qualify for some "excellence award" you need to do $95K/$9Mil... but that has to do with stock bonuses and cash bonus only

Sep 11, 2009 5:26 pm

What makes a branch "legacy"?

 
What makes a branch non-legacy?
Sep 13, 2009 9:55 pm

tqspy... Did you get hired in MS branch or SB??