Also... What is the payout at Merrill?

Any additional benefits besides working with the biggest name in the business?

Thanks again!

They expect you to have $7 milllion AUM after 1st year, $15 million AUM after 2nd year.  You can graduate POA earlier (and get a cash/stock bonus) if you hit the $15 million target PLUS some other targets. 

Payout starts at 50% on annuitized business and declines back to grid by end of year 5.

Initial comp depends upon the candidate (education, experience, etc.)

There really are too many other side benefits to mention.  When I moved here from another firm, I almost felt like going back to my clients and apologize to lying to them when I told them we could do just as much as Merrill.  Not to say that things have been all rosy because every rose has its thorns.  However, if you are driven to succeed and want to do so within a world-class organization, then ML will give you all the tools you are going to need.

If you are considering a position in the POA program, you should speak
with people other than the manager(s) hiring you.  Ask to speak
with 2 existing POA people, a POA graduate, and the POA Coach. 



ML is an incredible firm, with its challenges.  It is not for the
faint of heart.  The POA program is very difficult and more fail
than make it. 



For those that succeed, both them and their clients are rewarded, trust me.

[quote=rightway]If you are considering a position in the POA program, you should speak with people other than the manager(s) hiring you.  Ask to speak with 2 existing POA people, a POA graduate, and the POA Coach. 

ML is an incredible firm, with its challenges.  It is not for the faint of heart.  The POA program is very difficult and more fail than make it. 

For those that succeed, both them and their clients are rewarded, trust me.

[/quote]

If you ask to speak to somebody who is in the POA program what would ask them?

How would you know if you were getting an honest answer?

Do you suppose that a new hire, glad to have the job and opportunity, is going to tell you that the program sucks, even if he felt it did?

POA compensation:

$40K or less (usually $36k)- guaranteed for 24mths

$40k or more - guaranteed for 18mths

That is assuming you are meeting your quarterly hurdles.

Tough program. As long as you don't try to re-invent the wheel you can make it through...  Being single helps too!!! 

Goal is to achieve $15m in assets and $175,000 production credits after 24mths. Payout avg. 40bps - 60bps