Projected Long-Term Income Trajectory

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Feb 17, 2007 1:51 am

Hey guys:

Suppose I am young college graduate starting off next year with a major wirehouse firm such as Morgan Stanley or Merrill Lynch. Suppose I don't current have access to a network of high net-worth individuals but do have a slight advantage in penetrating a specific natural market due to my ethnic and educational backgrounds. Suppose that I am 21 year old and my lack of wrinkles easily attests to my youth and gives away my age. Suppose that I also work 80 hours a week ceaselessly for my first three years and become part of that 10% golden ratio who makes it into this industry.

Given those aforementioned assumptions, how much can I expect to earn in a before-tax income:
-in my third year of production?
-in my fifth year of production? (suppose I start working 50 hours weeks from hereon after)
-in my tenth year of production?
-in my twentieth year of production?
-in my thirtieth year of production?

I realize that there is merely a 1% RoA of your assets under management and your payout is around 0.35, but I'd like tangible figures and estimates on where my income is going to be for those time anchors. I know that there is an overwhelming likelihood that I'll fail and those inexorable factors will dominate. But IF I succeed and manage to make it, what will be my earning potential projection be if I produce at a top wirehouse firm?

Thank you for your time.

-Achiever

Feb 17, 2007 12:26 pm

You can't work 80 hours a week.  You are on are paid by the firm
they  firms will not want to pay overtime.  

Feb 17, 2007 1:56 pm

In all years, you'll make between $0 and $1,000,000,000.  The hours that you work don't matter.  It's about what you do during those hours and the talent that you bring to the table.

Feb 17, 2007 2:29 pm

what will be my earning potential projection be if I produce at a top wirehouse firm?


Are you interested in just learning the business and making money, or only doing that while being affiliated with a prestigious brand name wire house firm?

Feb 18, 2007 3:35 am

Third year I did around 70k.


5th year around 110k


Haven't made it quite ten yet, but should be around 230-250k

Feb 18, 2007 2:58 pm

rightway - Once I go into production, I thought we can work as long as we want? Either way, while I am still on salary, I anticipate immersing myself into dozens of local clubs and communities in building potential relationships outside of work. Those hours of networking is something that wouldn't necessarily go on my time-sheet.

anonymous - You're absolutely right but at the end of the day, this is still a contact sport. For a newbie like me, the more hours I work equates to more people I'll be able to contact and that equates to more prospects, which equates to higher income. In the end, its still a numbers game and by setting goals for myself, I have a better shot at achieving success.

planroach - Both actually. I already have a job with a wirehouse firm. With this post, I am merely seeking the long-term income potential for this career.

rankstocks - Thank you! This is exactly what I am looking for. If I set my goals of income as being:
Year 3: 70,000
Year 4: 80,000

Year 5: 95,000

Year 6: 115,000
Year 7: 140,000

Year 8: 170,000

Year 9: 205,000
Year 10: 245,000

Year 11: 290,000

Year 12: 340,000
Year 13: 385,000

Year 14: 425,000

Year 15: 460,000

Year 16: 490,000

Year 17: 515,000

Year 18: 535,000

Year 19: 555,000

Year 20: 575,000

Would this projected potential long-term income trajectory look about right? This is of course, I am among the 10% who succeed in the business...

Thanks,

-Achiever

Feb 18, 2007 4:29 pm
Achiever:

Hey guys:

Suppose I am young college graduate starting off next year with a major wirehouse firm such as Morgan Stanley or Merrill Lynch. Suppose I don't current have access to a network of high net-worth individuals but do have a slight advantage in penetrating a specific natural market due to my ethnic and educational backgrounds. Suppose that I am 21 year old and my lack of wrinkles easily attests to my youth and gives away my age. Suppose that I also work 80 hours a week ceaselessly for my first three years and become part of that 10% golden ratio who makes it into this industry.

Given those aforementioned assumptions, how much can I expect to earn in a before-tax income:
-in my third year of production?
-in my fifth year of production? (suppose I start working 50 hours weeks from hereon after)
-in my tenth year of production?
-in my twentieth year of production?
-in my thirtieth year of production?

I realize that there is merely a 1% RoA of your assets under management and your payout is around 0.35, but I'd like tangible figures and estimates on where my income is going to be for those time anchors. I know that there is an overwhelming likelihood that I'll fail and those inexorable factors will dominate. But IF I succeed and manage to make it, what will be my earning potential projection be if I produce at a top wirehouse firm?

Thank you for your time.

-Achiever


Don't use MONEY or how much you make as the ONLY determining factor for SUCCESS...


 ...although, it helps! ...don't use money as your only FOCUS in life.

Feb 23, 2007 12:00 pm
Achiever:

Hey guys:

Suppose I am young college graduate starting off next year with a major wirehouse firm such as Morgan Stanley or Merrill Lynch. Suppose I don't current have access to a network of high net-worth individuals but do have a slight advantage in penetrating a specific natural market due to my ethnic and educational backgrounds. Suppose that I am 21 year old and my lack of wrinkles easily attests to my youth and gives away my age. Suppose that I also work 80 hours a week ceaselessly for my first three years and become part of that 10% golden ratio who makes it into this industry.

Given those aforementioned assumptions, how much can I expect to earn in a before-tax income:
-in my third year of production?
-in my fifth year of production? (suppose I start working 50 hours weeks from hereon after)
-in my tenth year of production?
-in my twentieth year of production?
-in my thirtieth year of production?

I realize that there is merely a 1% RoA of your assets under management and your payout is around 0.35, but I'd like tangible figures and estimates on where my income is going to be for those time anchors. I know that there is an overwhelming likelihood that I'll fail and those inexorable factors will dominate. But IF I succeed and manage to make it, what will be my earning potential projection be if I produce at a top wirehouse firm?

Thank you for your time.

-Achiever



HAVE YOU EVER WORKED 80 HOURS A WEEK?  How many hours do you work currently?