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Aug 13, 2011 4:20 pm

blueturnaround

Joined: 2011-08-13Offline

Hi, I've been reading this section for a few hours now and am curious about ML.  People have been posting that bringing in $25 million per year in assets is par for the course at ML.  Really?

Let's see.  Typical RIA fee = 1%.  1% of 25 million is 250K.  So do most ML FA's make over 250K after the first year and then add 250K to their comp every additional year?

That can't be right.  What is a "good year" for starting reps?  What about reps that are already CPA's, insurance guys, etc...?

Aug 14, 2011 2:14 am

ZwingDing

Joined: 2010-09-15Offline

[quote=blueturnaround]

Hi, I've been reading this section for a few hours now and am curious about ML.  People have been posting that bringing in $25 million per year in assets is par for the course at ML.  Really?

Let's see.  Typical RIA fee = 1%.  1% of 25 million is 250K.  So do most ML FA's make over 250K after the first year and then add 250K to their comp every additional year?

That can't be right.  What is a "good year" for starting reps?  What about reps that are already CPA's, insurance guys, etc...?

[/quote]

Not sure where you got that idea. It's not even in the right universe. Newbie ML'ers are on a non-recoverable draw with a decent shot at at quarterly bonus and a long-shot at a monthly commish. Salary ranges from 35K-90K depending on where you live and how much you bring to the table.