Bank of America - Premier Client Mgr
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Anybody know anything about these positions? Are they product pushing positions w/ income potential of ~$50k or can they be cushy 6 figure ‘Private Banking’ jobs?
don’t count on making more than 75-80k for a top producer as they like to call themselves. I call them Pikers!
The average premier banker in my market makes over $100k. I know this for a fact!
In the southeast market - I guarantee they make over 100k.
whats the base? whats the attrition like? seems odd that commissioned bank employees make $100k+
base is anywhere from $50k to $75k - average around $60k
attrition is high. Around 80% turnover in the last 2 years in my market.
The average premier cm made over $100k with the highest (in my market) over $150k (no joke)!
Where in the southeast are you? I'm in the southeast and our premiers are not making close to that.
Why would a banker leave a job making 100k. Im curious why the atttrition rate is 80%. CMs at BAC dont all make 100k. Only about 5- 10% tops.
[quote=meme] base is anywhere from $50k to $75k - average around $60k
attrition is high. Around 80% turnover in the last 2 years in my market.
The average premier cm made over $100k with the highest (in my market) over $150k (no joke)![/quote]
so is it the kind of thing where quotas are so high only 10-20% dont get fired?
meme needs to practice his math. Sounds like he’s only averaging the people that stay, not the starving people that quit.
base salary in the SF bay area starts at 50k–if you have experience you start out in the mid 50s. Not as posh as private banking, however, premier banking is the route one would take to get into private banking.
Client Manager salary starts on the Northeast at $40K but they’re usually paying higher now to draw better talent. The smarter ones that come onboard end up quitting, anyway, once they realize the bonuses are impossible to hit. Private banking is generally the creme de la creme of Bank of America. I would be shocked to see them hire any of these Northeast Client Managers but nothing here suprises me anymore.
Come to find out Private Bank is not the deal people think it is. The bank treats those people just like Premier. The bank is always changing comp plans, don’t give cost of living raises, can rarely make bonus or incentive. A private banker may make 120k but thats about it. It’s a dead end for career move.