Typical 1st year salary for EJ

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Nov 14, 2008 9:43 pm

Does anyone have any insight into what the typical 1st year salary EJ offers new FA with professional exp.?  (i've been in banking with a strong sales focus for 7+ years)

Nov 14, 2008 10:05 pm

Somewhere in the low twenties, but of course you can earn more based on your sales. 

Nov 21, 2008 9:41 am

Not meant to scare you but, when I was @ EDJ there was a running joke that went something like this...

 
 
What's the difference between a large peperoni pizza and a new EDJ IR?
 
The pizza can feed a young family of four.  
 
 
Having said that, no firm in this business is going to pay you a large amount of money in the form of a salary to start.  They want you to be hungry for business and go out and earn it.
 
 
Nov 21, 2008 9:44 am
exEJIR:
 
Having said that, no firm in this business is going to pay you a large amount of money in the form of a salary to start.  They want you to be hungry for business and go out and earn it.
 
 
 
ML is paying between 75k-55k right now.
Nov 21, 2008 5:27 pm

MS is about the same

Nov 21, 2008 5:45 pm

EDJ equates to about $2K a month, but that is depending on what part of the country you live in, and it is decreasing after get through their eval/grad program.. Something like 20% decreases every quarter..

Nov 21, 2008 5:51 pm
exEJIR:

Not meant to scare you but, when I was @ EDJ there was a running joke that went something like this...

 
 
What's the difference between a large peperoni pizza and a new EDJ IR?
 
The pizza can feed a young family of four.  
 
 
Having said that, no firm in this business is going to pay you a large amount of money in the form of a salary to start.  They want you to be hungry for business and go out and earn it.
 
 
 
That's just plain wrong...but true.
Nov 21, 2008 6:31 pm

AGE paid me 5k while in training, 4k when production started for 6 months then declines for the next 18 months. Thay cant pay you less than minimum wage.

Nov 22, 2008 11:14 am

I got a letter from Merrill Lynch regarding moving forward in the interview process.  They want me to take a FIAT exam to predict my series 7 results / results as a FA. 

 
When you say $55k+, are you talking total comp or simply the base?  If that's the base, I'm guessing commissions must be relatively low?  Or are they doing a little testing after the BoA takeover?