[quote=Diplomaticos]What is an honestly respectable amount of gross to have done at the end of your second year?   [/quote]

If you're a bank broker, I'd say about $980,000.

[quote=Bobby Hull]

[quote=Diplomaticos]What is an honestly respectable amount of gross to have done at the end of your second year?   [/quote]

If you're a bank broker, I'd say about $980,000.

[/quote] While remotely possible if you have great connections I would think 250k is a much more attainable and realistic goal.

Good luck!!!!

scrim

[quote=scrim67][quote=Bobby Hull]

[quote=Diplomaticos]What is an honestly respectable amount of gross to have done at the end of your second year?   [/quote]

If you're a bank broker, I'd say about $980,000.

[/quote] While remotely possible if you have great connections I would think 250k is a much more attainable and realistic goal.

Good luck!!!!

scrim

[/quote]

I hear that bank brokers do about 250k every month.

[quote=Bobby Hull][quote=scrim67][quote=Bobby Hull]

[quote=Diplomaticos]What is an honestly respectable amount of gross to have done at the end of your second year?   [/quote]

If you're a bank broker, I'd say about $980,000.

[/quote] While remotely possible if you have great connections I would think 250k is a much more attainable and realistic goal.

Good luck!!!!

scrim

[/quote]

I hear that bank brokers do about 250k every month.

[/quote] I have actually heard that the best of the best bank brokers can achieve 250k in a great month.   Especially if their trail business is paid quarterly.    To do that every month would be unheard of in my program.  The best of the best do about an average of 100k monthly.

scrim

[quote=scrim67][quote=Bobby Hull][quote=scrim67][quote=Bobby Hull]

[quote=Diplomaticos]What is an honestly respectable amount of gross to have done at the end of your second year?   [/quote]

If you're a bank broker, I'd say about $980,000.

[/quote] While remotely possible if you have great connections I would think 250k is a much more attainable and realistic goal.

Good luck!!!!

scrim

[/quote]

I hear that bank brokers do about 250k every month.

[/quote] I have actually heard that the best of the best bank brokers can achieve 250k in a great month.   Especially if their trail business is paid quarterly.    To do that every month would be unheard of in my program.  The best of the best do about an average of 100k monthly.

scrim

To clarify, I am talking about 2nd year at a wirehouse i.e. Morgan, Smith Barney, Merrill etc.

I know at MS you have to hit 100k mark your second year you are considered in the top tier of your class.

Any thoughts on second year production at a wirehouse?

[quote=ChrisB]
That is the same in my program as well Scrim. 

I’m in my 4th month and have have averaged about $25K.  The number 1 guy in the city did $160k in april. 
[/quote]

What???

You’re saying that you’re in your 4th month of production and you have already done $100k in gross revenues?

Did you start with $30MM in AUM on your first day?

[quote=Diplomaticos]To clarify, I am talking about 2nd year at a wirehouse i.e. Morgan, Smith Barney, Merrill etc.

I know at MS you have to hit 100k mark your second year you are considered in the top tier of your class.

Any thoughts on second year production at a wirehouse?

[/quote]

At MS, top tier after 24 months is $180k in revenues and $15MM in AUM.

2nd tier is $125k and $12MM

3rd tier is $75k and $7.5MM

[quote=ManagedMoney] [quote=ChrisB]
That is the same in my program as well Scrim. 

I'm in my 4th month and have have averaged about $25K.  The number 1 guy in the city did $160k in april. 
[/quote]

What?????????????

You're saying that you're in your 4th month of production and you have already done $100k in gross revenues?

Did you start with $30MM in AUM on your first day?
[/quote]

I think you caught him in a lie.

Fee based or transactional?  They guys who do transactional comission make more, but they can also burn out faster.

[quote=Bobby Hull]

[quote=Diplomaticos]What is an honestly respectable amount of gross to have done at the end of your second year?   [/quote]

If you're a bank broker, I'd say about $980,000.

[/quote]

$980,000 in your second year?  That would be nice.

$200K in your 2nd year at wirehouse would be respectable. It would also depend on your product mix.

[quote=ManagedMoney] [quote=Diplomaticos]To clarify, I am talking about 2nd year at a wirehouse i.e. Morgan, Smith Barney, Merrill etc.

I know at MS you have to hit 100k mark your second year you are considered in the top tier of your class.

Any thoughts on second year production at a wirehouse?
[/quote]

At MS, top tier after 24 months is $180k in revenues and $15MM in AUM.

2nd tier is $125k and $12MM

3rd tier is $75k and $7.5MM
[/quote]

That would be very solid performance, but it would mean that you are actually going to stay in the business. Unfortunately, anyone doing lower than that - their days are numbered....

[quote=san fran broker]

[quote=ManagedMoney] [quote=Diplomaticos]To clarify, I am talking about 2nd year at a wirehouse i.e. Morgan, Smith Barney, Merrill etc.

I know at MS you have to hit 100k mark your second year you are considered in the top tier of your class.

Any thoughts on second year production at a wirehouse?
[/quote]

At MS, top tier after 24 months is $180k in revenues and $15MM in AUM.

2nd tier is $125k and $12MM

3rd tier is $75k and $7.5MM
[/quote]

That would be very solid performance, but it would mean that you are actually going to stay in the business. Unfortunately, anyone doing lower than that - their days are numbered....

If these numbers are true, why would anyone start at a wirehouse? 2nd year for a bank rep is 225-300K

[quote=bankrep1]If these numbers are true, why would anyone start at a wirehouse? 2nd year for a bank rep is 225-300K [/quote]

Bank,

Your estimates are exactly what I experienced in my second year in a bank program.

There must be some good reasons to start at a wirehouse as compared to a bank.   I would think the key is to find the right fit for each individual.   

Working in a bank it's a trade-off just like anything.   In trade for a "built in audience", referral streams from bank partners, etc.   I have to deal with meetings, bank mentality management, non qualified referrals from partners among other things.

Personally, it was worth it for me not to have to worry about heavy duty, everyday, grind it out prospecting in exchange for some of the annoying bank minituae.

Life is all about balance.

scrim

[quote=bankrep1]If these numbers are true, why would anyone start at a wirehouse? 2nd year for a bank rep is 225-300K [/quote]

At what payout?

And is that fee based or comission.  I could have easily made $250k in comission my first year, but I am building a fee based business

[quote=vbrainy]

[quote=bankrep1]If these numbers are true, why would anyone start at a wirehouse? 2nd year for a bank rep is 225-300K [/quote]

At what payout?

And is that fee based or comission.  I could have easily made $250k in comission my first year, but I am building a fee based business

[/quote]

30-35%

[quote=vbrainy]

[quote=bankrep1]If these numbers are true, why would anyone start at a wirehouse? 2nd year for a bank rep is 225-300K [/quote]

At what payout?

And is that fee based or comission.  I could have easily made $250k in comission my first year, but I am building a fee based business

[/quote]

Thanks for lying.

[quote=Vin Diesel][quote=vbrainy]

[quote=bankrep1]If these numbers are true, why would anyone start at a wirehouse? 2nd year for a bank rep is 225-300K [/quote]

At what payout?

And is that fee based or comission.  I could have easily made $250k in comission my first year, but I am building a fee based business

[/quote]

30-35%