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Basic Payout Questions Etc

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Jun 12, 2006 8:39 pm


As you all may have read in my first thread here, “New Bank Rep”, I start my new job in a week.  I have been in the industry since I graduated from college in 2002 (not long I know) and am completely confident in my investing knowledge and know-how.  For the first 2 years I was a brokers assistant responsible for conducting 100% of the trades and research/planning, then I was a consultant for a year. 

With that said, I am really unsure how to figure compensation etc.  So, below you will find some pretty basic questions. 

1)  I am curious if you all know the average first year income of a bank rep?  I know the average overall in my area and the highest, but I really don’t know for the first year. 

2)  I understand what my payout grid will be, but what I am curious about is how exactly that is tracked during the month (hitting the grid etc.)  For example, if I bring in $3 million in assets during the month, will I actually see what I’m going to make before month end?  Just curious, a newbie question I know.

2)  If you’re paid on the 15th and the 31st of each month, do you normally receive your commission check on the 31st?  How does that work normally?

3)  Do you all participate in any other forums (where sales strategies, firm happenings, etc. are discussed).  This is the only one I have found. 

Thank you in advance.