Is it even possible?
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Hi, i wrote a post before about either choosing to go to college or working for Brokerage firm. Well recently I did some research on the company and it says that there revenue is 58.2 million last year. Also the CEO’s total compensation was $417,333 ( that means he made that much last year right? ) . So my question is it even possible for my friend who worked there for 1 1/2 year to make 30grand a month? if the CEO makes only 417,333 last year. Does anyone know anything about how these firms try to hire young people by lying about how much they make? and the other thing i found out is there is nobody there that looks like they are in there later 20s and 30s. Does that mean they left because its no good money, or did they really make SOO much that they all retired.
[quote=Bobby Hull]
Lots of people make $30,000/month.
[/quote]yeah i know, but im asking if it is possible for somebody at a firm that hires young people and only does cold calling. While the CEO compensated 417,000 last year, isnt it odd for somebody who doesnt even have an office in the firm to make 360,000?
[quote=BNT1120] [quote=Bobby Hull]
Lots of people make $30,000/month.
[/quote]
yeah i know, but im asking if it is possible for somebody at a firm that hires young people and only does cold calling. While the CEO compensated 417,000 last year, isnt it odd for somebody who doesnt even have an office in the firm to make 360,000?
[/quote]
Nope. Anything's possible in sales.
[quote=BNT1120]
[quote=Bobby Hull]
Lots of people make $30,000/month.
[/quote]yeah i know, but im asking if it is possible for somebody at a firm that hires young people and only does cold calling. While the CEO compensated 417,000 last year, isnt it odd for somebody who doesnt even have an office in the firm to make 360,000?
[/quote]
It is possible but unlikely. Usually if a young kid with little or no college is making that kind of bank in the brokerage business, it’s not a good sign. That generally only happens at the less reputable firms. You’ll make bank for a little while until the SEC or the NASD catch up with you. Then you don’t have a job, clients, or a license.
Do yourself a favor-rent “Boiler Room” and watch the whole thing-right to the end. Then decide if you want that life, because that’s where it sounds like you’re headed.
I’m sure 30k a month sounds like an awful lot to you right now. But is it worth it if you end up ruining your career and reputation in a very short time?
I remember your prior thread, and I think we all pretty much told you this stuff back then. The fact that you’re back asking the same questions is not a good sign.
Go to school. Don’t be stupid. Don’t get swindled. They’ll tell you whatever they need to tell you to get you in the door and get you pounding the phones for them because it will put money in their pocket even if you don’t make any.
[quote=joedabrkr]
[quote=BNT1120]
[quote=Bobby Hull]
Lots of people make $30,000/month.
[/quote]yeah i know, but im asking if it is possible for somebody at a firm that hires young people and only does cold calling. While the CEO compensated 417,000 last year, isnt it odd for somebody who doesnt even have an office in the firm to make 360,000?
[/quote]
It is possible but unlikely. Usually if a young kid with little or no college is making that kind of bank in the brokerage business, it’s not a good sign. That generally only happens at the less reputable firms. You’ll make bank for a little while until the SEC or the NASD catch up with you. Then you don’t have a job, clients, or a license.
Do yourself a favor-rent “Boiler Room” and watch the whole thing-right to the end. Then decide if you want that life, because that’s where it sounds like you’re headed.
I’m sure 30k a month sounds like an awful lot to you right now. But is it worth it if you end up ruining your career and reputation in a very short time?
I remember your prior thread, and I think we all pretty much told you this stuff back then. The fact that you’re back asking the same questions is not a good sign.
Go to school. Don’t be stupid. Don’t get swindled. They’ll tell you whatever they need to tell you to get you in the door and get you pounding the phones for them because it will put money in their pocket even if you don’t make any.
[/quote]
Why would this be a boiler room, I’ve searched up the broker thats hiring me and the firm itself on NASD.
I started working for that company when I was 12. Now I’m 19 and retiring next month. You should definitely do it! Follow your heart not the advice of a bunch of guys who have been in the business forever… CLEARLY they are just scared of competition… that’s why they want you to go to college!
30 grand / month means that he’s doing something like $40K - 50K gross / month. VERY tough to do, but not impossible.
[quote=BNT1120]
Why would this be a boiler room, I've searched up the broker thats hiring me and the firm itself on NASD.
[/quote]
You just don't get it, listen to Joe and go to school. If not school, go and get you self some life experience. You don't know sh*t at your age. Thats not an attack on you, none of us did. Its just the way it is. Once you have completed either of those then attempt to start a career.
Just because a firm is registered doesn't mean they have high ethical standards. It just means that they filed the proper paperwork and paid the fees.
[quote=12345]
[quote=BNT1120]
Why would this be a boiler room, I’ve searched up the broker thats hiring me and the firm itself on NASD.
[/quote]
You just don't get it, listen to Joe and go to school. If not school, go and get you self some life experience. You don't know sh*t at your age. Thats not an attack on you, none of us did. Its just the way it is. Once you have completed either of those then attempt to start a career.
Just because a firm is registered doesn't mean they have high ethical standards. It just means that they filed the proper paperwork and paid the fees.
[/quote]that is exactly what im asking . About there high ethical standard, I was just asking if anyone thinks they are lying to me about how much they make so i can work for them, becasue once im hired i have to open 20 accounts for the person that hired me.
[quote=BNT1120] [quote=12345]
[quote=BNT1120]
Why would this be a boiler room, I've searched up the broker thats hiring me and the firm itself on NASD.
[/quote]
You just don't get it, listen to Joe and go to school. If not school, go and get you self some life experience. You don't know sh*t at your age. Thats not an attack on you, none of us did. Its just the way it is. Once you have completed either of those then attempt to start a career.
Just because a firm is registered doesn't mean they have high ethical standards. It just means that they filed the proper paperwork and paid the fees.
[/quote]
that is exactly what im asking . About there high ethical standard, I was just asking if anyone thinks they are lying to me about how much they make so i can work for them, becasue once im hired i have to open 20 accounts for the person that hired me.
[/quote]
When I refer to ethical standards I am talking in regards to handling clients not the sunshine they are blowing up your a*s. You are doomed either way. Don't ask questions if you don't want to hear the answers.
[quote=NEWBY]You keep misspelling "their." How are you graduating high school?[/quote]
their is spelled correctly, just used in the wrong context. How did YOU graduate high school?
[quote=BNT1120] [quote=12345]
[quote=BNT1120]
Why would this be a boiler room, I've searched up the broker thats hiring me and the firm itself on NASD.
[/quote]
You just don't get it, listen to Joe and go to school. If not school, go and get you self some life experience. You don't know sh*t at your age. Thats not an attack on you, none of us did. Its just the way it is. Once you have completed either of those then attempt to start a career.
Just because a firm is registered doesn't mean they have high ethical standards. It just means that they filed the proper paperwork and paid the fees.
[/quote]
that is exactly what im asking . About there high ethical standard, I was just asking if anyone thinks they are lying to me about how much they make so i can work for them, becasue once im hired i have to open 20 accounts for the person that hired me.
[/quote]
Here are the questions you need to ask this "highly reputable" firm:
1. How much are the rips you're going to get? Make sure it's at least a $2 rip.
2. Will they provide the leads to the retirees in the mid-west and southwest?
3. Do they have debugging equipment for the phone lines to make sure the FBI isn't monitoring your phone calls?
4. Does your firm hold all of the outstanding shares you are trying to get rid of?
5. Does this firm provide parties for their "brokers" which include strippers, drugs, and alcohol after a successful dump of a "new" IPO?
6. Does every broker have a paper shredder next to their phone?
7. Is it written in the firm's mission statement "to guarantee returns to every client"?
8. How many times has this firm changed their name in the last 10 years?
I would make sure they answer all these questions before going any further. You want to see if it raises and red flags.
[quote=BNT1120]
[quote=12345]
[quote=BNT1120]
Why would this be a boiler room, I’ve searched up the broker thats hiring me and the firm itself on NASD.
[/quote]
You just don't get it, listen to Joe and go to school. If not school, go and get you self some life experience. You don't know sh*t at your age. Thats not an attack on you, none of us did. Its just the way it is. Once you have completed either of those then attempt to start a career.
Just because a firm is registered doesn't mean they have high ethical standards. It just means that they filed the proper paperwork and paid the fees.
[/quote]that is exactly what im asking . About there high ethical standard, I was just asking if anyone thinks they are lying to me about how much they make so i can work for them, becasue once im hired i have to open 20 accounts for the person that hired me.
[/quote]
You're either a troll or a complete idiot.
Are you reading what people here are telling you?
[quote=Baller]
[quote=NEWBY]You keep misspelling "their." How are you graduating high school?[/quote]
their is spelled correctly, just used in the wrong context. How did YOU graduate high school?
[/quote]
It's i spelled correctly in MY post. He was trying to spell "their," but instead spelling "there." When you misspell a word accidentally, and end up spelling a different word correctly, you are using the unintentionally correctly spelled word in the wrong context and misspelling the intended word.
I can tell you are retarded from your other posts, so I don't expect you to understand that.
How on earth could you possibly know his intent?
In his post, "their" is spelled properly. So therefore his error is grammatical.
Here's a good example of the proper use: See NEWBY's parents over there. They're cousins and their son is an inbred fool.
that is exactly what im asking . About there high ethical standard, I was just asking if anyone thinks they are lying to me about how much they make so i can work for them, becasue once im hired i have to open 20 accounts for the person that hired me.
The answer is YES. They are lying to you.
[quote=Baller]
How on earth could you possibly know his intent?
In his post, "their" is spelled properly. So therefore his error is grammatical.
Here's a good example of the proper use: See NEWBY's parents over there. They're cousins and their son is an inbred fool.
[/quote]