Quitting Jones after 7 Days

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Jul 21, 2008 7:27 pm

I've just been studying for my 7 with EDJ for about a week.  I was interviewing with EDJ, ML, UBS, and MS.  I didn't get anything from ML or UBS so I took the job with EDJ.  But, I just got a call from the BOM at MS and he offered me a position making significantly more than I'm making with EDJ.  MS was my first choice, but they were dragging their feet about a decision so I took the EDJ offer.  So my question is this, after 1 week of employment, what happens if I quit EDJ and go to MS?  I'll gladly ship all of this material they've sent me back and I know I won't get paid for this past week of studying.  But, will they just let me go that easily?

Jul 21, 2008 9:26 pm
MmmKoolAid:

I've just been studying for my 7 with EDJ for about a week.  I was interviewing with EDJ, ML, UBS, and MS.  I didn't get anything from ML or UBS so I took the job with EDJ.  But, I just got a call from the BOM at MS and he offered me a position making significantly more than I'm making with EDJ.  MS was my first choice, but they were dragging their feet about a decision so I took the EDJ offer.  So my question is this, after 1 week of employment, what happens if I quit EDJ and go to MS?  I'll gladly ship all of this material they've sent me back and I know I won't get paid for this past week of studying.  But, will they just let me go that easily?

I think you would need to change your name on this forum. (Didn't really get a chance to try the KoolAid.)
Jul 21, 2008 9:31 pm

Just stick it out another 155 weeks and do whatever you want. 

Jul 21, 2008 9:40 pm

Making significantly more than at EJ ? That is irrelevant. You can make more at McDonalds than your first few months as a non producing broker anywhere.

Jul 21, 2008 10:37 pm
GT Key:

Making significantly more than at EJ ? That is irrelevant. You can make more at McDonalds than your first few months as a non producing broker anywhere.

 
Obviously, you haven't kept up with wirehouses are paying for experienced people these days.  I can assure you that the wirehouses are, in fact, paying SIGNIFICANTLY more than starting out at Edward Jones. 
 
When I was recently interviewing, I was offered from 60k to 72k as a 100% base salary at the wirehouses.  This base lasted from two to three years depending on the firm before declining.
 
Now, by no means am I trying to act like 60k to 70k is an enormous salary in the grand scheme of things. I will be taking a huge paycut to start in this industry.
 
But your post compared the non-producing salary to that of a McDonald's worker.  I don't think so!  And I haven't heard of anyone getting anywhere close to that at EDJ.
Jul 21, 2008 11:06 pm

Obviously, you cannot read. The guy is studying for his 7, which means he is not experienced. Also, if he took a job at EJ that means he would like to enter the field as a producing advisor. If he wanted a salaried position in which much less effort would be needed there is no reason to take a job in which knocking on doors is your only job for 6 months.



Also congrats for taking a huge payout to start in this industry. Join the club.

Jul 21, 2008 11:18 pm
GT Key:

Obviously, you cannot read. The guy is studying for his 7, which means he is not experienced. Also, if he took a job at EJ that means he would like to enter the field as a producing advisor. If he wanted a salaried position in which much less effort would be needed there is no reason to take a job in which knocking on doors is your only job for 6 months.

Also congrats for taking a huge payout to start in this industry. Join the club.

 
When I said experienced, I meant life experience.  I also am going to be studying for my 7 as I am coming from a completely different industry.  So do you still think I can't read?? 
 
My point still stands that the original poster has a very valid point that wirehouses will pay a decent salary.  I don't understand why you seem to have a problem with something that is simply a fact.  He will be guaranteed a much higher salary at a wirehouse than he will at EDJ.  That is a fact, but yet you seem to want to argue it.
 
On the other hand, he will be expected to produce at a higher level earlier in the game in return for that higher salary. 
Jul 22, 2008 8:12 am

I mentioned on another post that ML was offering me a higher salary than the others and i was going to take it. Somebody posted that i'm not cut out for this business because the salary was a factor. It's interesting how people assume that considering salary means you're in the wrong business. I've worked 100% commission for years, but if someone wants to give me a draw... I'm not going to argue.

Jul 22, 2008 8:55 am

What the  is going on here??? Let me see , you accept an offer of employment from a firm. You are interviewed by several other firms and they have not made an offer in the time line that fits your schedule?

You start with the firm and " out of the blue " a firm offers you a position that compensates significantly more that your current employer. After putting in one week of employment you are asking us - Should I resign and accept the better offer?
Maybe after two weeks with your new employer another firm will offer you even more to join? Ask us again then if you should take the even better offer.
I guess you would have been okay if the original employer made you an offer of employment and after accepting THEY ADVISED YOU THEY FOUND A BETTER CANDIDATE and they are withdrawing their offer?
Good luck in what I am sure will be a properous and ethical business opportunity and I know you will always be looking out for your client's best interests.
Jul 22, 2008 9:44 am
norway401:

What the  is going on here??? Let me see , you accept an offer of employment from a firm. You are interviewed by several other firms and they have not made an offer in the time line that fits your schedule?

You start with the firm and " out of the blue " a firm offers you a position that compensates significantly more that your current employer. After putting in one week of employment you are asking us - Should I resign and accept the better offer?
Maybe after two weeks with your new employer another firm will offer you even more to join? Ask us again then if you should take the even better offer.
I guess you would have been okay if the original employer made you an offer of employment and after accepting THEY ADVISED YOU THEY FOUND A BETTER CANDIDATE and they are withdrawing their offer?
Good luck in what I am sure will be a properous and ethical business opportunity and I know you will always be looking out for your client's best interests.
 
LOL.  It is a REAL stretch to try and say that they original poster is going to be unethical in his business with clients because he wants to leave one firm for a better opportunity within two weeks of accepting that opportunity.  I mean a REAL stretch.
 
I spent some time doing corporate recruiting within a huge company.  What this guy is going through happens ALL THE TIME.  It happens because most people are interviewing with several companies when they are looking for a job.  And just like with OP, it can take the "best job" longer to get around to making the offer sometimes. 
 
The bottom line is that the company is going to do what is best for them and the employee has to do what is best for them.  I have seen companies hire employees only to lay them off two weeks later because they suddenly have a huge restructuring. 
 
You really think companies are loyal to their employees these days??  Ha!!!!!!!!!  That is the best joke of the day!!!
Jul 22, 2008 9:48 am

Oh you worked for a Head Hunter? I know that they never attempt to churn their inventory.

Now that really is the Joke Of The Day
Jul 22, 2008 9:53 am
norway401:

Oh you worked for a Head Hunter? I know that they never attempt to churn their inventory.

Now that really is the Joke Of The Day
 
You know Norway,  I think it is extremely funny that you question others ethics on this board, when you attitude of arrogance really leaves me wondering......
 
I never said I worked for a head hunter. I said I was in corporate recruiting with a company.  Yes, Pfizer, Johnson and Johnson, Medtronic, etc. all have recruiting departments. 
 
Norway, why don't you chill?  Why do you feel the need to put everyone else down?  Just wondering?  I don't think I have made any sort of personal attack against you at all.  So what gives with you??
 
What? Someone can't have a differing opinion than you without you attacking?  Is that it?
 
 
Jul 22, 2008 10:03 am

Norway, As I am sure you now know Runner has all of the answers. There is no problem with taking jobs, quitting jobs, taking commission jobs, leaving to take salary jobs, producer, non-producer. Its all the same.

Jul 22, 2008 10:08 am

You are quite correct this Board is about opinions nothing more and nothing less. If ethics offend you .... so be it!!

Jul 22, 2008 10:21 am

GTKEY - All is good with life  Someday I hope that I will have all the knowledge that Runner has.....I can only hope!!!

Jul 22, 2008 10:29 am

That is all we can do!

Aug 1, 2008 5:08 am

So should he take the job at MS?  Anyone know how much the training and support would aid a person just starting out at MS?

Aug 8, 2008 2:32 pm

So I'm about 2.5 weeks in now and I'm thinking about quitting today to accept the offer from MS.  Any idea what'll happen to me?  Surely they haven't spent that much on my training yet.  Will they just let me go?

Aug 8, 2008 2:39 pm

MMKoolAid, please... we just got Norway's meds right.

Aug 8, 2008 2:58 pm

MmmKoolAid - I think that you should accept the position with MS. Resign from EJ immediately. Call your RL or STL and give them devasting news.