I have an interview this week with a mid-sized broker dealer about becomming a manager in their office. Any idea how management comp works. I am guessing base plus percentage of office production. Any one have more specific knowledge. thx
i'm guessing the folks who are interviewing you would know. Why not ask them?
Just a thought.
If you have a book, think long and hard before making a decision about going into managmenet. I can give you an idea as to how BOM's are paid, as well as the reason for my comment. PM me if you are interested.
There are as many different manager comp programs as there are firms. One thing you can be sure of is that it will change year to year depending on what the big bosses have on their agenda. I would not advise anyone to take a management position that wants to be a producer long term, as the added responsibilities of a low or mid level manager is not worth the compensation and time way from your book. If you have a passion for leading people then you will need to put your people before your business in order to move up the management food chain. Doesn't hurt to kiss your bosses backside either! Stay in production unless you aspire to a career in babysitting and compliance.