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Dec 14, 2008 2:07 pm
 
Before i ask my question, i already did a search. I did not find much information on RBC.
 
Can anyone tell me any information on there 2 year broker trainee position? Is it a good program? Training? Ect. Are the FA's typically succesfull after the program?
 
Thanks?
Dec 16, 2008 10:08 pm

Your salaray will be negotiated between you and your Branch Director.  Four months of training to get your license and RBC sales training.  Once you get into production your salary doesn't change for 3 months, then it declines by 5% per month, until it runs out at about your 2 year mark.

Dec 16, 2008 10:27 pm

Oh, by the way....it's very difficult to get started with any firm.  I've been in the business for about 8 years, been back in production for the past year or so.  The training model is broken, most people partner up.  It's not impossible to make it but only about 1 in 20 actually make it with no help.  I think the secret is meeting with people, after 3 or 4 months you should really have 5 meetings per week.

 
Honestly, it doesn't matter what firm you are with, most rookies just sit there and fail.  It becomes a self fulfilling prophecy.  Stay focused, bring in $500k per month on average, open up 10 accounts a month...that is the only way to succeed.
Dec 17, 2008 11:47 pm

I work on the sales floor of a large MF company. I am just leaning towards going into production. I know its alot of work, lots of rejections and all about contacts. I appreciate the feedback you have provided.

Dec 21, 2008 10:17 am

I was a wholesaler for 5 years before going back into production.  Save up enough money to supplement your income for 2 or 3 years...don't let yourself fail.

 
Go for it...
Mar 19, 2012 6:57 pm

currntly thinking of career change. I have heard that u have to meet minimum production and aum during trainee period for two years at rbc. what does these minimum requirement look like for year 1 and 2?

Also, their payout grid from on wall street says 20% under 200k. When does this start applying? 5 year?10 year? or from year 3?

Thanks,

[quote=bjacobus]

Your salaray will be negotiated between you and your Branch Director.  Four months of training to get your license and RBC sales training.  Once you get into production your salary doesn't change for 3 months, then it declines by 5% per month, until it runs out at about your 2 year mark.

[/quote]