I recently accepted a position from BoA in the “financial advisor trainee program.” I will be able to get my Series 7 and Series 66. I live in SF Bay Area and this is my first position at a bank. The pay is 60k while getting licenses (4 months) and it will go up to 65k + quarterly bonuses. I have an undergrad in International business and recent grad with my MBA. I have 3 years experience in sales. Is this a good offer?How much to expect from quarterly bonuses at BoA? Any advice on the position?

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I’ve been in the banking/investment side as a licensed banker for 4 years.

Recently made the change to boa to start building experience as FA. It’s a dual role where you will do both banking and investments. Great place to start, and if you’re in an affluent area, it will be faily easy to break 100k once you’ve built a good book. Just remember. This is the banks book- you trade the ownership for the comfort of a steady base, a lenient commission system and warm leads.

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Thank you, I appreciate your advise. How do you feel at BoA? How are the quarter bonuses structured?

You gotta start somewhere! Get licensed and some experience closing in financial services, then start looking

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Where did you get your MBA? What was your salary prior to this offer?

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Well, your MBA isn’t ranked high enough for it to be worth much to the likes of any of the major banks. Your prior work experience should allow you to negotiate though. I would ask for 72k base, that’s what RJ is offering.

60k seems kind of low to me to me. The CSA start at 70-80k here at JP Morgan . Did they tell you what’s the expectation of your quarterly bonus ?

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I am pretty new in this industry, so I wasn’t aware of that position. I will look at JPMorgan website to see if there are any positions available. My start day at BoA was supposed to be 10/17, but they pushed it back to 10/31 as this is a new location they are opening and they are running late with construction, so I still have time to look around.

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