MSSB minimum starting pay? and by region

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Dec 23, 2009 8:41 pm

What's the minimum salary MSSB offers to new FAA's? What's the average? I realize this may vary by region as well.. Anyone in South Florida?

Dec 23, 2009 9:11 pm

Personally, I would ask what the maximum is.  I'm a rainmaker.

Dec 23, 2009 9:12 pm

Just kidding... MOM, MORE MEATLOAF!!!!!

Dec 23, 2009 9:21 pm

well then go start a thread and ask what the f***in maximum is. douche.

Dec 23, 2009 10:17 pm

usually 75% of your prior W2 up to about 60-75k

If your a college student expect mid 30's

Dec 29, 2009 6:03 pm

man,so many pricks on here. getting some advice is like fishing for quarters in a septic tank.

Dec 29, 2009 8:55 pm

I'm really not a prick.  Here...

 
Minimum is probably 25k.  The average probably isn't even worth guessing because it probably ranges for 28-40k for someone right out of college and maybe 35-80k for someone who came from another career.
 
Disclaimer:  These are just my best guesses from working there for five years.
 
Friends again?  Check yes or yes.
Dec 29, 2009 9:13 pm

friends, thank you. 25k ha? pretty weak. where are you getting these numbers?

Dec 30, 2009 8:34 pm

Right out of college, in the midwest, you're talking 35K. This is first hand knowledge.

Jan 1, 2010 5:02 am

I believe that that 75% of w2 income is correct: It was what I was offered a year ago...

Jan 1, 2010 10:16 am
twoeyeguy:

friends, thank you. 25k ha? pretty weak. where are you getting these numbers?







go back to grad school.   get some real skills for a real job.



dont get in this biz.    



plus, you sound like kind of thin skinned    you wont make it

Jan 1, 2010 3:31 pm

ms twain.. why is this not a "real job"? i assume you're in this business yourself - do you regret getting in?

Jan 1, 2010 5:35 pm

would'nt start again

wasted too many years working like a madman



too gd hard

aint worth it

Jan 1, 2010 9:04 pm

really? how long ago did u start and where? i think ur the first person i ever heard say the ends arent worth the effort in this biz

Jan 1, 2010 9:21 pm

I think everyone who's considering getting into the business should know that the odd are against you. I started in 2000 with 49 classmates and now we are down to 7 and most of them quit within the first 2 years. I also think it's more difficult now to build a book from scratch with the dnc list and negative investors sentiments against advisors. With that said if you are open to working 80 to 90 hours a week for the next 3 to 5 years it can be a great business over the long haul

Jan 1, 2010 9:28 pm

now u sound like everyone else. ur contradicting yourself. and 80-90 hours? that's just ridiculous, no one works that much. maybe 60-70 max, counting breaks. where do u work? is that same place u started?

Jan 1, 2010 9:52 pm

All I will say is that unless you have some strong connection to wealthy people that it will be the toughest thing you'll ever do and yes 80 to 90 hours a week. 7am to 9pm m-f. Sat mornings and Sunday nights for 3 years. Built my business through cold calls. Good luck

Jan 1, 2010 10:22 pm

well if it really takes 80-90 hours a week then that sounds like a miserable existence and i cant understand why so many ppl want to enter the biz. the potential would have to be enormous to justify that kind of commitment. from your experience, how great is the reward over the long haul? how much do you pocket a year?

Jan 2, 2010 6:14 pm
Shania Twain:

would'nt start again
wasted too many years working like a madman

too gd hard
aint worth it


Agree with you 100%.  In this economy now do not know what business I would suggest, but not this one.  Any job which your supposed employer can tell you that this client "trades too much," or this client "trades too little,"Client is too old to trade," or "Client is too young for this type of trading," is the wrong business.  Have a few buddies who 8-10 years ago when i started in this biz went to commercial real estate and mortgage business and I was absolutely left in the dust.  They were all pushing 7 figure income at the peak of their run and that income in this business is almost impossible.
Jan 2, 2010 6:39 pm

Well, I'm sure its not typical to make 7 fig in mortgages either. If anyone can think of a better business to start in right now than be a FA then please, do share.