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Hi fishes,
I have given an interview with Infosys on 2nd July and currently in portal it shows the status as 'Review in Progress' .Could any one let me know how many days it usually takes to get an update or does this mean they are interviewing other candidates for the same role .I have mailed the HR but no response from him.
Appreciate your comments/ suggestions on the same.
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Jones doesnt seem to me to be a place where big producers would move to. The product offering and flexibility is way too limited and the payout is just not high enough tk justify the BS that comes along with it: not owning your book, being at the partners mercy, being subject to their overbearing rules, low retirement transition plan pay, etc.....great place to start tho
Agree it’s a great option for a career changer to Learn the business and get a stArt don’t stay more than 3 years
@Dunncreek - so take over $300k from the company in salary and support to learn and build your business and then bail before paying a penny back in profitability? Thankfully most Jones advisors aren’t such thankless a-holes.
Actually theres no doubt that jones is a great option at this level. Bonus grows exponentially as does lp.
And the retirement transition plans are very good now. You're looking at 60+ % payout before LP.
FA1 get your facts straight. I got 1500 a month for 6 months. Straight commission after that Started with nothing. Door knocked every day for 5 years. Spent all my IRA money "investing in my business”. At the end of 7 years I had to fight the partners to keep the clients that wanted to follow me when I left.
The company made good money every month I was in the branch.
I was stupid to stay as long as I did. But the partners got a square deal from me.
Yea jones brainwashes you to believe that its "your" business so that you are comfortable putting your own money into it to grow. But it truly isn't yours. The partners have their own agenda and will do whatever they want to "your" business. It is truly an awful company the way the GPs are so nepotistic and even sadistic. They will do whatever they can to protect their 40% yr returns- they could give a f*ck about you, your family, or "your" business.
@Dunncreek I have my facts very straight. I have no idea of your former circumstances but you’re telling people to do this now. I’m one of those newer advisors who is currently costing the firm a great deal of money. The firm is providing 4 years of salary support, starting at 70% of previous employment, plus asset bonuses and commission. Plus paying to get the advisor licensed and trained before they start doing any business. They’re going to start paying rent on my office next month and likely start paying a salary for a BoA in the next 10 months. It is likely that my branch (if I am just average) won’t turn a profit for another 3-4 years. By that time sunk costs for me and my branch are likely to be over 500k. If I bail after 3 years, not because of lack of success but simply to get a better deal once I’m better established I would be an absolute heel as would anyone else who would do the same.
Wa1 sounds like you have a bunch of sour grapes because you didn't make it. We "give up" some things for the protection the firm offers. If you want to retire the buyout is everything you could ever want.
Wa1 looks like I struck a nerve. Get a grip pal.
Depends on how much partnership you have accumulated. If you have over the years accumulated 200k worth of partnership that would pay you 40k a year income. You get 40% so 1 mil plus profitability bonuses 3 times a year which could come out to 200k for the year (this is an educated guess- i left jones and dont have ny profitability calc anymore) and also get profit sharing to the IRS max and they pay you out in cash anything you were supposed ti make that was maxed out by the IRS....so lets say 1.2 mil in payout plus bonus, 40k in partnershsip returns (0 if you are just starting out and havent accumulated partnership), plus 55k in retirement contributions, and 15k in vacations. Lets say it comes out to around 55% at most? Would other Jones guys agree?
It was always very hard to figure the comp at Jones. I’m so happy to be independent now. I get paid on fee. I pay a 13% haircut to my RIA for compliance and billing. I spend what I feel is warranted and keep the rest.
At 2.5mm 12 month trailing you can do anything you want. I'll tell you that the bonus to come here would large. If you don't trade options and don't need discretionary accounts there would is no better place. (I wish we had discretionary accounts but it is a giant liability to the partnership, it just means a couple extra phone calls)
I did make it sweetheart. Guess again. I was at 400k production and 65mm aum when i left.
And you sound like the typical brainwashed Jones FA. The GPs own your brain bud. They have so much real estate in your brain that they have their d*ck in your a*s and have you saying "thank you, please jam it deeper"
I did 810 last year. With bonuses my payout was 387k on my W2. I also got another 18K payout on my limited partnership of which I owed $89,000. Jones also put 12,000 profit sharing into my 401k and the excess profit sharing of about 9000 was paid out to me as a check and probably is included in that 387 up top. Bonuses are on a graduated scale and nearly half a mind falls into the top pay out. If you were doing two and a half million probably 80% to 90% of it would fall in the top payout. Those guys see 65% or better in terms of payout when were in decent bonus brackets.
If Jones is so bad I don't understand why there's just absolutely so much butthurt on here of everybody trying to tear them down. Maybe it's the customer satisfaction surveys are the JD Power Awards or the compensation issue of rep every year which clearly states where the best place to be from about 500k to about 1.1 in production. The question was simple and it was about compensation I think that assholes with a bone to pick ought to answer the question thst was asked or leave it alone.