Best Places for Sign On Bonus?
I'm considering moving and am curious what others have experienced in the way of a sign on bonus.
Are the wires the only places that typically compete in this area?
How much can you expect if part of your book is not transferable?
What conditions were required in order to receive the bonus? (Time commitment, etc.)
What was the range you saw at firms? (I heard 75% of last years production at MS. Typical?)
I notice on the Jones site for experienced hires they specifically state they don't give "up front" money. I also heard AG Edwards doesn't offer sign on money. For this firm or others with similar policy is it easy to increase any applicable base in order to get them to compete with other firms offering a sign on?
AG Edwards will generally give you a salary vs your commisions for 6 months. Not a draw, but you only get the commisions that exceed your monthly salary. Also the salary is generaly trailing 12/12x.6. IE 300k would give you 6 mos @ 15k.
I recieved 40% upfront where I am with an asset kicker of 4k per mil after 12 months.