Training prog salary at wirehouse

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Aug 7, 2006 4:34 pm

I am in the interview process at Smith Barney and was wondering what I can expect in terms of starting salary.  I imagine it is probably similar at other wirehouses, so any information from experience or hearsay would be appreciated.

Aug 7, 2006 4:51 pm
Arizona Bay:

I am in the interview process at Smith Barney and was wondering what I can expect in terms of starting salary.  I imagine it is probably similar at other wirehouses, so any information from experience or hearsay would be appreciated.


How old are you?  Are you married?  Do you have kids? What will your last two tax returns show as your annual income?  What are you bringing to the table?


Never talk compensation unless an offer has been made--and whatever it is, if the offer is from Smith Barney you'd be a fool not to take it.

Aug 7, 2006 5:03 pm

I just turned 27 and am single.  My last two yrs I was making upper 60s in public accounting.  As far as bringing skills to the table, I don't have much financial services experience but more business process consulting and client service/relationship management. 


I haven't talked comp with them; I'm just trying to get a feel for it to see if I will be able to afford my apt and all that stuff based on what I'd be making starting out.  Regardless of my future plans, it's something that must be considered.


Do you think SB would pay over 60?

Aug 7, 2006 6:01 pm

It depends what part of the contry you live in, but expect the offer to be 60 to 70k

Aug 7, 2006 6:04 pm

country

Aug 7, 2006 6:46 pm

Ok, I'm in NYC.  I know the odds are against me in terms of succeeding in this field, as I am in my mid-twenties and do not have a wealth of financial services experience.  I do have a few high-net-worth relatives, but I'm not sure if I can rely on them to invest with me out of the gate.  So I'm looking at the same uphill climb that many others are.  So I'm just trying to figure out if I can sustain myself in the "lean" period of 3-5 years in this damned expensive city. 

Aug 7, 2006 7:05 pm

You could move to Bed Sty.

Aug 7, 2006 7:09 pm
NASD Newbie:

You could move to Bed Sty.


It's Bed-Stuy, you moronic piece of dog drool.

Aug 7, 2006 8:19 pm
Philo Kvetch:
NASD Newbie:

You could move to Bed Sty.


It's Bed-Stuy, you moronic piece of dog drool.





Aug 7, 2006 8:20 pm
NASD Newbie:

You could move to Bed Sty.


A. Bay-


It seems the initial salaries are getting better at the major wirehouses.


They've cleaned out alot of the expensive non-producing, drag on profits, Upper Middle Management.  This leaves more $$ for the people actually producing and bringing in assets.


The downside is this industry "forum" is polluted with egotistical drivel from those morons that were forced out.   The "national" wirehouse is better off for it.


Aug 7, 2006 8:39 pm
Rugby:

A. Bay-


It seems the initial salaries are getting better at the major wirehouses.



Arizona, what you need to know is that this Rugby kid is a high school student who doesn't have a clue to what he's talking about.

Aug 7, 2006 9:22 pm

So Putsy, what's your excuse for not having a clue as to what you're talking about?

Aug 8, 2006 3:18 pm

If they offer you, SB will offer you $60,000 or more in NYC. Don't worry about it.