Does anyone know what the success rate is for an individual coming out of the training program at ML, UBS, MS, or other firms? Also, what is the success rate at 1 year, 2 years, 3 years, 4 years, and 5 years?
The only success rate I am concerned about is my own. I think it can be demoralizing to think otherwise.
NOLA makes a good point. The survival numbers are meaningless to a driven trainee. Though a good indicator of how seriously the task should be taken.
It’s low. Thinking of 12 new folks in the past 4 years, the 1 who started 4 yrs ago teamed up with someone after year 2. The one after him kept his nose to the grindstone and got his production up to 200K before he left for another firm. Then there are 2 folks with VERY low (like 50K) production who are married to wage-earners and the rest dropped out with production totals less than 20K. Including me there are 3 folks who were +200K in year three…25%
Based on my class of 12-16 (I can’t remember), I was 1 of 2 left…after 4-5 years. I’m not sure the guy who was left when I moved from Jones to LPL is still there. Funny things is, I felt I was one of the few who wouldn’t last because of the turnover in my office, small town, competition and a real dislike of walking around the neighborhood like a vac salesman. Oh well, it just means this is a VERY tough business to start in.
Rumor is that the odds are greater to survive D-Day than the first 5 years at the wirehouses.I agree 100% that your focus needs to be on yourself and not those around you. You start worrying too much about things outside of your control and you are done.
billybob, change the question slightly. The results will be much more meaningful. Ask about the success rates for someone who does what needs to be done on a daily basis.
billybob, change the question slightly. The results will be much more meaningful. Ask about the success rates for someone who does what needs to be done on a daily basis.[/quote] Very high.
Out of my training class at jones of 12, 5 years later 2 are at Jones and one me is elsewhere. I believe industrywise the mark at 5 years is 22% success rate…