When is up front money paid for a recruiting
package? When you sign the intent to move, when you resign, sometime thereafter. I am looking to make a change, but am new to this. Never moved before.Thanks in advance.
I just looked at the “When is the up front money paid” manual and it says that it us paid “up front.”
In addition to the blazing insight given you from the previous post, with RJ the check hit our accounts about 2-3 weeks after we pulled the trigger. Don’t know if that’s more or less time than the average, but that was our experience.
[quote=cobra]package? When you sign the intent to move, when you resign, sometime thereafter. I am looking to make a change, but am new to this. Never moved before.Thanks in advance.[/quote] Took me closer to 6 weeks to get my check.........but most people get it 3 weeks to a month after they start with the new firm. Good Luck........
All firms are different and you can sometimes actually negotiate how you want to be paid as part of your transition package. The dirty little secret in the industry is that the b/ds really make their money on how much it costs them to get your production. My advice is to research the negotiations phase as much as you research the firms because you don’t want to sell yourself too cheap. I’ve seen many advisors leave a ton on the table and it ain’t pretty when they find out they’ve been taken.
When you get the upfront is a KEY question to ask when you’re reviewing the offer with the hiring authority. Most of the time it’s 1-4 weeks MAX. Depends on the firm, AND in my experience, the manager who hires you. It’s all about them submitting the ‘paperwork’ in a timely fashion so your check can get through the 15 levels of bs it has to get through to land in your hand.