How Much Did You Make Your First Year
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12k plus food stamps my first year at EJ. Went on diversification trip though. Couldn’t afford to buy food while I was in Aruba because I need to save my money for taxes I had to pay on the trip
Watchbroke my goal is to be like you. That is awesome. How many assets do you have under mngt?
Sorry to hear that....for your clients sake that is. Hopefully then your referring them to someone for this.
I sell absolutely zero insurance and annuities. Zero loaded mutual funds.
[quote=Moraen] I sell absolutely zero insurance and annuities. Zero loaded mutual funds.
Sorry to hear that…for your clients sake that is. Hopefully then your referring them to someone for this.[/quote]
I am. I include insurance in their planning, but don’t actually sell the insurance. That business is referred out.
And I don’t “sell” annuities, but use no-load versions as they are needed. And I hope you don’t mean you hope I refer out loaded mutual fund sales.
Besides a “Registered INVESTMENT Advisor” is not the same as a Financial Planner. Although I do financial planning. It’s simpler, and other people win.
Next time use a little ROOGLE - I have posted about this repeatedly. Welcome to the forum.
[quote=Wachbroke] 125k production first year from scratch-- haven’t inherited Daddy’s book or picked up on the oldest FA in the office to beg for his book either-- was a 1mm producer within 7 years. What does it take? Work and work smart. A lot of FAs business models are dead-- they just haven’t figured that out yet. That’s the advantage that new brokers have. I built a business capitalizing on the arrogance and errors of others.
[/quote]
I’ve made 100K this year so far, in my first year. I believe him.
No problem Ice. Everyone on here has a thing for anyone who does well in the beginning, because they didn’t. I just get tired of the banter for no reason. Get over it, there are people who do very well in the beginning and it’s not always contributed to getting an office, or assets. Some people do the right things.
I came across site a while ago which is from the 1990s
A Sanford Bernstein & Co. report on the Future of Financial Services made me curious. Issued more than a year ago, the report estimated the compensation of the average retail broker at $156,000 for 1996, a whopping increase over the $128,800 for 1995. In fact, the estimate was a bit high. The Securities Industry Association later reported that in 1996 the average broker produced gross commission revenue of $358,800 and had average W-2 earnings of $143,000 http://www.dallasnews.com/sharedcontent/dws/bus/scottburns/columns/archives/1998/980210TU.htm Then today I read this: http://hotjobs.yahoo.com/career-articles-10_best_bets_for_a_solid_second_career-9417) Financial Advisor
Do you love numbers and people? Financial advisors help people make decisions about where to invest their money to help them enhance the quality of their lives. Some training programs exist that do not require a college degree, but the Bureau of Labor Statistics says a bachelor's or graduate degree offers the best prospects both in terms of employment opportunities and higher salaries. With prospects for jobs to increase by 41 percent, this is one to check out.
Median annual salary: $59,979
So what happen?
Jobs to increase by 41%???? Half these firms already hire anyone who can fog a mirror. The indy firms who are selective and/or have tough requirements to get into pretty much consist of people who previously succeeded at the firms who hired anyone who could fog a mirror.Do you love numbers and people? Financial advisors help people make decisions about where to invest their money to help them enhance the quality of their lives. Some training programs exist that do not require a college degree, but the Bureau of Labor Statistics says a bachelor’s or graduate degree offers the best prospects both in terms of employment opportunities and higher salaries. With prospects for jobs to increase by 41 percent, this is one to check out.
Median annual salary: $59,979
I would say around $50,000. This is not a job to go into unless you are financially prepared.
[quote=vbrainy]I would say around $50,000. This is not a job to go into unless you are financially prepared.
[/quote]Because it's IMPOSSIBLE to live on 50k per year
Salaries in Investment Banking (with bonus)
Job Level Salary Range Typical All-in Comp Prerequisite(degree/yrs experience) First Year Analyst $60K - 150K $90K Bachelor's Third Year Analyst $120K - 300K $150K Bachelor's First Year Associate $150K - 250K $170K MBA Third Year Associate $250 - 450K $300K MBA Vice President $350K - 1MM $500K 3-6 years Director / Principal $400K - 1.5MM $700K 5-10 years Managing Director / Partner $500K - 20MM $800K 7-10 years Department head $800K - 70MM $2MM 10+ years
$39,996 with Merrill.
Hell, I was happy...5 days out of college, which I graduated early...big mistake for being at a party school.