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Typical 1st year salary for EJ

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Nov 15, 2008 2:43 am

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 15, 2008 3:05 am

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

Nov 21, 2008 2:41 pm

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 2:44 pm

[quote=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.    [/quote]   ML is paying between 75k-55k right now.
Nov 21, 2008 10:27 pm

MS is about the same

Nov 21, 2008 10:45 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 10:51 pm

[quote=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.    [/quote]   That's just plain wrong...but true.
Nov 21, 2008 11:31 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 4:14 pm

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?