Hey fishbowlers! Question concerning compensation for an FA assisting the main advisor on a $135M book. I am doing a lot of the work now as he is going to retire in 4-5 years and he is taking a step back. I do all the investment management in the account. Only 4 years of experience but I've picked this up quick, am series 9-10 licensed and halfway through the CFP. What is fair compensation for someone like me? I don't know what is typical or fair.
Advisors under 30, which is more attractive to you: 100k salary, 80k plus bonus opportunity (bonus between 5-40k), or 40k salary plus 50% of production. First two include heavy non solicit contract, last option is full ownership of your book. Which one and why?
Lots of RIA’s are hiring salaried advisors. What’s the average salary for a salaried advisor position?
I have an admin that has a license for insurance business. I pay her a salary and she has brought in some new business. What % split would you pay her on the insurance business she brings in?￼￼
Getting headhunted hardcore for a salaried banker position ($100k+ bonus) and right now I’m making $65-$70k as an FA in a development program. I’m hitting my tiers but I hate the program. This banker role would not have me in a program... what are pros/cons to leaving to go to a role like this?
Anybody aware of something changing at Merrill? We have a meeting next week that’s mandatory and not clear on subject matter. So typical A type FA, I assume it’s a comp change. Anyone know anything?
Do you ever share your salary with anyone other than spouse/SO? As in other family members, close friends, coworkers who you’re friends/close with?
Can anyone tell me the best sources for me to research compensation models? I have asked for a new comp plan with my firm and need to research competitors. Thanks
Spokane, WA new hire comp: They pass test (I reimburse) then pay starts. Year 1: $40K & 10% comm. Year 2: $30K & 20% comm. Year 3: $20K & 30% comm. Year 4: $10K & 40% comm. Year 5: 50% comm. Thoughts?
Honest and serious question: how is deferred compensation legal? How can firms unilaterally decide that they are going to defer earned pay for upwards of 8+ years?
new ca on the squad who is purely admin at moment. Eager to learn and likely become fa. Also has extensive network. How would you comp him for introduction he makes into the practice out of the gate?
Getting an email saying "variable compensation" may be affected makes me feel like a vampire in a silver mine.
Pru’s comp plan changes were just announced for next year. Do all companies change frequently? I feel like this is my 6th big change in 9 years.
Which firms pay a base salary for financial advisors and how much is the base? Everyone share your salary if you have one!
Your birthday is in a few days, you just got your bonus, are happy with your savings/retirement contribs, and have disposable income. What do you buy yourself for a birthday gift?
Best way to attract a junior advisor to your firm? Looking for someone who is licensed and knows how to work with clients but maybe not the best marketer. Best comp structure?
For rookie FAs: how much success have you had negotiating your comp? I’m a rookie and I made zero progress from pushing back on starting pay. I’m curious what’s even possible.
For those that work at an RIA and are relatively “young” advisors - what’s your compensation structure? Base + bonus + referral fees? Split rep fee?
Opinion: work with a firm as an independent, self employed financial advisor. On a draw right now ends soon, not nearly enough AUM to sustain. Got offer from insurance agency that will pay salary +
Can anyone here whom has had their brokerage acquired by another firm tell me if they received a retention bonus or "golden handcuffs" to stick around with the new firm? If you did, how much was it?
Currently working at a large civil defense firm but have the opportunity to move to a small two person firm and take over for an attorney becoming a judge. The partners were honest with me and informed me that the firm is having money problems this year- the remaining partner said he may not take a salary next year to ensure I (and our paralegal) are paid. I am a bit worried to leave my financially stable position but also think it’s a great opportunity, thoughts?
In your opinion, how do consulting titles map to industry titles? And do recruiters tend to agree with this? Worried recruiters see “Manager” at consulting firm and consider me for a Manager position in industry, which really doesn’t match up to experience or responsibility (or comp). How have you gotten around this?
I've heard about the PwC's cohort model for compensation, but don't understand what it entails. Can someone explain how it works?
Got a verbal offer from D few days back. Yet to hear back anything official through email. Whats the typical offer acceptance process like? How long do I have before I confirm? Any salary neg tips?
Considering a part time masters in comp sci/machine learning to bump my career in analytics or ready myself for a move into industry. Thoughts?
As “feedback completed” emails come in, I find myself no longer jumping to find out how I was reviewed. After an embarrassing comp call and stellar reviews from this past year, what’s the point?
Seriously considering going back to school for a comp sci degree. Coding seems extremely interesting to me, and higher salary + ability to create a startup seems like a dream come true. Thoughts?
What’s a good salary for a QA manager role. Have 8+ YOE. I got an offer from a startup for 175k in NYC
What's the typical base salary for a B4 SALT manager (sales and use tax) in the south/southeast (TX, LA, GA)?
I’m due my ECCR bonus of 4000 on May 15th. I’m getting ready to leave the firm but want to collect this first. If I give in notice on May 1st will I still be paid this sum on May 15th?
For my NYC FSO TAPs newly promoted to Senior- has anyone’s CFL shared the salary band for us? Also congrats on your promotion 🙂
Sr Producer with 6+ yrs agency experience & 8 years post producer experience. Interested in relocating to Chicago for agency producer gigs. What’s going salary?
Just had to share this because I feel so thankful and I’m so proud of my brother for being on the frontline and supporting the noble initiative of making the Covid-19 testing available to the Native American Communities in Chicago. ❤️💙 Expanded from testing 18 patients to a 100 patients per day in 15days. Despite the shitty arrangements that has been made by the hospital for his accommodation and food, he has been working 18 hours a day for this cause. No politics or abuse please. Just sharing🙏
Mildly annoyed that the Skype for Business root certificate requires a corresponding private key that can't be pulled with the cert. VNC it is then!
Thoughts on project manager career path? I’m 23. Interview scheduled for large financial company. PM for digital innovation. Not sure comp, likely six figures+. No direct PM experience
Senior strategists - what are you all making? I realized I have no idea if my salary is competitive or if I should be asking for a raise.
Looking into becoming a personal trainer part time, I love helping people reach their goals. Anyone have any real advice?
Seeing a bunch of men, POCs and white, come to the defense of Brett Craig for otherwise being “a great guy” is a really great reminder that, as we shift our focus to bringing in more Blacks and minorities, we shouldn’t lose sight of the need for there to be female representation at the top in creative groups. Being male, regardless of race, adds to a toxic power dynamic at the top that will only intensify if we let down our guard on hiring more women. So remember, black AND female!
What’s the FAANG equivalent for RocketBlocks/PrepLounge? Have heard of a site that has interview coaches for PM/Corp dev roles, but blanking on the name....
I’m on track for a promotion to sr associate by August, but looking to leave before that. I’ve been told that I should really wait for the promotion instead of leaving for a promotion. Thoughts?
Egypt, would it be safe to visit this Christmas holiday? Specifically looking into Cairo, Suez, and Luxor. If so, any recommendations (safety or otherwise)?
Anyone hiring analysts? Would need relocation but I can work on getting a tech visa. (I'm from the US)
Firm announced that the minimum billable hour requirement for hours to bonus is now decreased from 1950 to 1850 starting next year. Ready to celebrate but cautious. What could it mean? Xmas miracle?
Anyone want to skype prep case interviews for a month or so? UG FT recruiting, intern at T2 this summer but trying to get MBB :)
Does anyone have any experience with Deloitte’s Post-Merger Integration tax group? I interviewed and want an honest opinion on how heavy the workload is and amount of weekend work.
I hear Partners fear being hated by underlings or getting a bad reputation. When that happens people try to avoid your projects and pursuits. Those that get staffed on your projects won't work very hard. True??