We know some independent broker dealer advisors that are paying about $18.00 per hour, plus bonus. Depends on experience.

what’s the percentage of the bonus?

is this $18/ hour… an average payout?

[quote=youyoume]what’s the percentage of the bonus?

is this $18/ hour… an average payout?


[/quote]

I heard of one major firm who is hiring new assistants with those licenses in a certain city with starting salaries of 97,000 per year and significant bonus potential…

$18 per hour is the salary. Bonus is 50% of profitability delivered to the the firm on new clients brought in, on new business and trails,  and 25% of net profit (minus cost of assistant) on existing clients, ie, lower 50% AUM assets in the practice. Net new business GDC over $100,000 goes to 60% payout, then 75% over 200k GDC. But the clients are "owned" by the practice, not the assistant.

I am a CA at ML and the $18/hr is right on the money plus bonuses and extra salary if you get on with a good team or FA.  I am registered with my 7 and 66.

Last month's issue of Registered Rep had a survey of sales assistants' salaries plus a few feature stories on specific sales assistants. You may wish to read it over the weekend.

[quote=Ilovedogs]I am a CA at ML and the $18/hr is right on the money plus bonuses and extra salary if you get on with a good team or FA.  I am registered with my 7 and 66.[/quote]

what’s your bonuses and extra salary like?

And what’s your everyday work like at ML as a CA?

thanks

I am a part of a team plus the manager's assistant for the office.  I meet with clients and help with their needs so the FA can do his/her business.  Yes, paperwork too. 

I love working as a CA and ML's benefits can't be beat!

how is everyone else’s experience as a client associate/sales associate? at which firms? salaries?

Smith barney for a fact pays around the mid 40s. Comp plan will change in 08 for revenue sharing. (SF Bay Area)

Anyone know where UBS is at?

http://www.businessweek.com/careers/bplc/2007/42.htm

This Businessweek cannot be right, maybe it’s just NY salaries.

I would guess low 40s for a normal city.

I have one friend who was hired recently. He confirmed my broad question about the starting salary being in the $40k to $50k range.  We are in a second-tier city (metro population just over 1 million).

$18/per hour isn’t bad. Assuming your working between 45-50 hours a week.

If you have your 7 I thought it be closer to $50K.