Raises & Promotions in WM / PAM
For the more seasoned guys, is there any insight into the typical average raises that more entry level guys like Client Associates get? Since there are very limited titles in the industry, a "promotion" is less common (albeit adding the word "Senior" before your job title), it appears that annual raises are typically the road to higher compensation in this field.
Most entry level spots will yield $45k salary with discretionary bonus as to the team you're on and their AUM. The question is, how much does that salary go up by every year on average in various banks/practices? Any 2nd, 3rd, or 4th year client associates care to weigh in?