Thinking of leaving Edward Jones

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Jun 7, 2010 2:30 am

So I have only been working for Edward Jones for 4 months and am still 1 month away from my Can Sell Date.  I am starting to have second thoughts about working with Edward Jones.  I made a leap of faith to go to a new state and city  after college and left all my family and friends in other towns.  I don't feel that I have what it takes to keep up with doorknocking and searching for clients.  I'm just trying to see what I should ask myself to determine what it is that I should do; either keep this job or leave.  And also, I was wondering at only 4 months in and not going through Eval/Grad how much would they try to take from me with the contract that I signed when taking this job.  

Jun 7, 2010 10:56 am

Get out. Leave. Don't put yourself through it if you are having second thoughts now. The worst thing you can do is for the next 3 or 4 years work your butt off for EDJ and then get out. Trust me. It isn't worth it. Best wishes on your next career or firm.

Jun 7, 2010 12:45 pm

They won't take anything. There is nothing to take. However, if you go to work as an FA for another firm, Jones could come after you for training pay.

Jun 7, 2010 2:04 pm

Here's another way of looking at it...you just graduated college, and have no idea what you want to do.  You could leave, and go get a salaried job somewhere making 35-40K (I guess.  I have no idea what starting salary ranges are these days).  Since the job market is so good right now...

OR......you could stay at Jones, make more than 35-40K easily, but have to work your butt off.  What you are feeling right now is what most newbies feel once the rubber hits the road.  If you were 45 and had a family and kids and you just got laid off, and you started at Jones, and had second thoughts, well then I would say go find something else.  But I would use this as a once in a lifetime opportunity (not the fact that you are at Jones, but that you started in this industry at such a young age).  Time is the ONE THING you can never get back.  SO if you do it for three years, the worst case is that you made pretty good money doing something you didn't really like, and you are still only 25 or so.  The best case is that you figure it all out, start making GREAT money, and you are making a great 6 figure income by 30.  I would not bail so quick at your age.

Jun 7, 2010 2:50 pm

I'd agree with B24.  I started at Jones when I was in my early 20's.  I wish someone had told me then that instead of starting in a paper pusher job that I could become an FA instead.  I don't know that I would have had the maturity to stick with it back then, which is what I would question about you right now, when I  think about that I would have had 3 or 4 years before I had kids, house, soccer, softball, etc to build a business rather than have to fit it in around those things now, I wish that I would have made that jump back then.  How many of  your friends have the opportunity to start pulling down 6 figures in their 20's? 

Will they have to doorknock?  Nope.  Will they face as much rejection as you?  Nope.  Will they be able to live the life that you will be able to?  Nope. 

The other way to look at it is if you like this industry but don't want to be an advisor, Jones is a great jumping off place.  Work here for a few years, go on a couple trips, then if you're not satisfied, go into the home office, or become a wholesaler or go to some other brokerage firm's back office.  Having some sales experience on your resume will look good on any future jobs in this industry. 

Lastly, think about it from your next employer's perspective.  If it were me doing the hiring and I saw a recent college grad who had been employed for a grand total of 4 months with a very well known and respected company, I'd think twice about giving him an interview.  I'd be concerned that you might just repeat the same thing with me.  I'd look for someone with a bit stronger track record. 

Jun 7, 2010 11:17 pm

B24 hit the nail on the head.  I started at Edward Jones at 25, with the attitude of "I'll try it now, when there's not much to lose."  I'm now 37, 12 years into the business, and couldn't imagine doing anything else.

Its often said that being an FA is an easy job that is difficult to do.  If you are willing to work hard now, you can put yourself in position to live a very good lifestyle. 

As for cost reimbursement...what others have said is true.  If you leave, you WILL be required to repay training costs IF YOU CONTINUE TO WORK IN THE SECURITIES INDUSTRY.

Lastly, best of luck to you in whichever path you choose.

Jun 9, 2010 5:08 pm

You have three people still at EDJ trying to convince you should stay. It isn't worth it.

Jun 9, 2010 7:16 pm

Listen...NO single place is perfect for everyone.  I started with EDJ over 15 years ago and LOVED working there.  I only left when it became apparent that for my clients, personally, I could do better elsewhere.  But, if someone is going to literally give you a job making 100k+ after three years, your own office and assistant AND they pay for it, and all yo have to do is work harder than any of your friends for three years and you DON'T want to do that?  You need to leave and find something else to do...and maybe, MAYBE in ten years when you are on your third boss and sitting in a meeting somewhere, you can revisit this.

Jun 10, 2010 12:46 pm

[quote=MainStreet]

You have three people still at EDJ trying to convince you should stay. It isn't worth it.

[/quote]

I was referring mroe to the industry than Joens specifcially.  he just happens to be at Jones, and is not really in a position to leave yet, due to the handcuffs.  I meant that if I were him, I would stick it out for a few years, make the salary/bonus/commissions (which are better than most other non-industry jobs), and then decide what to do.  He's too young to not give it a solid effort.

Jun 10, 2010 8:44 pm

stick in there kid...do you know what percentage of EJ applicants make it to where you are?

Jun 10, 2010 10:01 pm

[quote=Reds]

So I have only been working for Edward Jones for 4 months and am still 1 month away from my Can Sell Date.  I am starting to have second thoughts about working with Edward Jones.  I made a leap of faith to go to a new state and city  after college and left all my family and friends in other towns.  I don't feel that I have what it takes to keep up with doorknocking and searching for clients.  I'm just trying to see what I should ask myself to determine what it is that I should do; either keep this job or leave.  And also, I was wondering at only 4 months in and not going through Eval/Grad how much would they try to take from me with the contract that I signed when taking this job.  

[/quote]

I disagree with both B and Space ... but only to this extent. Make it through until you can actually sell something. Get some red meat between your teeth and then tell me you're a vegetarian. Don't sweat the money; the RL will gladly let you skate if you don't go to another competitor and you are straight up with him. Be honest and always do the right thing and Jones will do right by you.

Like I say, make it to selling, start selling some things and see how you feel. Leaving before that really will make the first four months a waste of time.