I’m 27M Branch FA (FSA) at BofA Merrill. I want advice if I should move laterally or take a different route in order to make more money long term (I will have 3 kids by end of year and my wife doesn’t work) I made 107k total comp last year and on track for 150k-$170k in 2023. My current role maybe has 200-220k max in 2-3 years. If I stay put for too long I believe I will take a pay cut. Should I climb corporate ladder, go Merrill FA route or totally different? (not set on keeping 7 66 licenses)

like
Posting as :
works at
You are currently posting as works at

If they let you retain your FSA book, move to an FA role. You’ll be 100% grid, so you can scale your comp fast. Hard work, but it’s up to you.

If you like your role, Citi and Chase have similar programs to the FSA that are permanent and pay much better.

like

I don’t think we will be able to retain FSA book according to decision made in last few months. Many FSA with large books moved to MFSA and had to give up book in late 2022 so I’m sure that’ll be the same if I moved to Team FA or another FA in Merrill.

How is your influence over clients ? Do you manage a book now or is it someone else’s? If you become and FA there will be a huge ramp up time unless someone hands you a portfolio of clients that produce revenue and this would be very rare .

Fairly strong influence but working in a branch, I am getting pulled in many directions so It’s hard to be totally dedicated to my clients b/c of the walk in bank clients. I manage my own book but I am under impression if I go to FA in merrill it won’t come with me so I am at the point where I should just jump out of branch now so I don’t have to restart in 2-3 years with nothing. I understand it be rare and lucky to take over a portfolio.

Related Posts

Folks, one doubt..... I was hired as a senior consultant in dec 2021. I did not nominated for grade change till now. Will they automatically consider me for grade change or do I have to expicitely talk about it with PC ? Also if grade is changed, how is the impact on salary considering the parity check ? Right now I am at 25 lakhs with 8.3 years of experience.

like

Data Scientist at HP vs Data Science Analysis Manager at Cisco (IC), which one is a better position in terms of role and future prospects in Data Science. Years of experience is 6

like

I left brillio last month on 14 sep but I dint got my salary for the days I worked in sep please anybody know that possibly why I dint got salary or will I be getting it with fnf if yes then when did should i expect to get fnf?

Hi guys.. would like to know what's the probability to get selected in H1B lottery?

I have an offer from another company with 30 lpa and current company offering H1 nomination next year with 98k usd.. need some suggestions.

Yoe - 13 years

like

Check your band for year 2020-21

funnylike

Hi All,
Hope everyone is doing well.
I recently joined Barclays and I have one doubt regarding bonus part in my salary which is not officially mentioned anywhere in my offer.

Can anyone please tell how we get annual bonus in % on Below Salary components.
Is it on BASIC SALARY or ANNUAL SALARY or TOTAL FIXED PAY.

Post Photo
helpful

Hi Fishes,
I will be joining KPMG global services and first time coming under tax slab.
Can anyone please share monthly payslip as I wanted to plan my rent according to HRA?
Also please share the Annual basic so that I can calculate my HRA accordingly.
Attaching my compensation plan.
Pleaaaaassssse helppppppppp.

Post Photo
like

what's the salary range of SM at EY GDS assurance practice ?

like

What should be the average pay for a senior product manager in a series A startup?

like

My two year anniversary of starting my career (in general) is coming up in the next 3 weeks.

Aug 2020- 65k base salary
Jan 2022- 80k base salary
July/Aug 2022- 110k base salary


Just posting as a reminder to LEAVE that job (within a reasonable time 😂) and go where the money is!

(p.s. I already know some of you have had higher increases in the same amount of time & I consider 6 months minimum is “within a reasonable time”)

likehelpful

Hey Fishes, How much hike can i expect when i am being promoted from a GCB 7 to 6? My Current package is 10.50 and YoE 9 yrs

like

How much Salesforce can offer for a 4 years Salesforce developer? Considering programming skills are good and have good knowledge on LWC and integrations?

like

10 years sales experience selling eyewear to eye doctors. If I were to transition to tech would I have to start as a BDM? I think that would be a pay cut for me. Thanks

like

What is starting salary of RedTeam Consultant at FireEye in Bengaluru, India?

like

PwC Bangalore hasn’t provided the hike o promotion letter yet. Is there a way to see the performance bonus and the hike??

like

Hi all. I am looking to crack into the pe value creation space. Any tips or recommendations? Mckinsey senior EM and LBS grad with some early tenor investment banking experience; currently based in the middle east working for a public sector infrastructure player.

like

M7 MBA vs M7 JD? Came across the following comment while researching dual JD/MBA. I've always been fascinated with law and represented myself in several small claims suits against medium sized businesses and won, got a big kick out of it.

Post Photo
like

Hi Fishes,

I have 1.6 years of experience in Java, Spring Boot, Angular, Microservices.

If I'm planning to switch how much CTC can I ask for?

Current CTC - 5.8LPA

like

Hi Everyone,

I am working with a startup as a Business Development Manager and currently based in Delhi.

I am looking forward to make a transition from the Sales/BD role to Product Management roles. Also doing a certification from Institute of Product Leadership for a smooth transition. Can anyone help me with this.

YOE in sales& BD ~ 6 years

like
like

More Posts

Share your worst client experience? New hire here, just led a bad meeting. 🥵

like

Motions
I work in a midsize firm and we have the basic subscription to westlaw, which doesn’t include the ability to see filed briefs, motions, etc without incurring additional costs. I’m wondering if there is a service in the NJ/PA area that gives you access to previously filed motions and briefs? So if I’m drafting a summary judgment I could search the service and find a similar one. If this doesn’t exist.. I think I found the next million dollar idea lol

like

New to PI. I filed suit and know policy limits ($500k). I want $1M but I have to live in reality. Insurance company wants to know if I have a demand. Is there any reason why I’d demand more than the policy limits?

like

Any fish from LEK London willing to refer? Currently interviewing with other top consulting firms in London and keen to pursue LEK
YOE: 6
Appreciate the help!

like

What is the interview process in Grid Dynamics For QA Automation Engineer.

like

Looking to learn what other people’s jobs are like, what’s your role and what’s your day to day like?

like

Hello, I am new to canada and looking for a data scientists job, referrals would be much appreciated. Any advice for new comers? Thanks!

like

How do Rolex waitlists work with respect to different models? Like if an AD could let me have a Sub, Exp 1 or 2, DJ, GMT, etc I would honestly take whatever is available first. Are there lists for specific models or is it sort of just one big pool?

like

I’m seeing prices for watches that used to depreciate heavily pre-2020 - but suddenly began to hold value because of the Rolex craze - tank like crazy. IWC, Panerai, Omega etc. you name it. Finally!!!!

likeuplifting

Are there any openings in enterprise profitability team in PWC sdc?

funny

Does anyone have a helpful recommenders guide I could give to my recommenders?

like

Jummah Mubarak Fam ☪️💚

like

Haha so true

Post Photo
likefunny

I am having 2.2 years of experience in Bigdata Testing. Please let me know any vacancies

like

Poor son will have fun in the upcoming years, set up his own bar too high from the early days

Post Photo
funnylikeuplifting

I’m 25 and have found a duplex I’m considering purchasing as a rental property. Planning on renting both units and have the cash to make the down payment without an issue. My cash flow analysis has a payback period of 3 years for my down payment and a 13 year payback period for the whole investment. I think financially it makes sense. My question is, is it realistic for a 25 year old young professional to handle dealing with all the extra curricular’s that come with owning a rental property ?

like

Current consultant (boutique) with offers at a large ride sharing company (starts with a U) for Strategy/BizOps and a public company in their data consulting division. Obviously different areas, but the U role is seriously lacking in comp. Anyone else take/consider much lower total comp (~30% lower) to go to strategy/biz ops?

like

I think my 12 week old labradoodle has play aggression. I get puppies around this age may have biting tendencies, but i dont know where to draw the line. Is this normal? * viewers discretion is advised* see next post

like

Trigger: rare illness post birth

Just sharing that I was diagnosed with postpartum preeclampsia 3 days after giving birth despite not having risk factors or preeclampsia in my pregnancy. Sharing as I had absolutely no idea about this illness.

Main things to do are check your BP everyday at least the first ten days after you give birth, and go to hospital if it's very high (over 160/110). If you get severe headache or stomach ache then also be vigilant.

Happy to answer any questions!

likehelpful

Additional Posts in Finance Exit Opportunities

If anyone needs a cfa tutor I tutor on Wyzant. Dm me.

like

Currently at BNY Mellon with 10 YOE, specifically in Corporate Trust working CLO/CDO’s (first job out of college). I’ve moved around within the bank a few times but I’m just not happy here nor am I where I want to be in terms of comp . I want to pivot into something else but I have no clue what skills I could transfer elsewhere as what we do is so niche. They sucked me in when they said it would be a FA role but we don’t do any modeling, forecasting, etc.. Any advice/suggest/rec’s much apprecia

like

Just received an offer from citi for a credit risk associate role. There’s no mention of a set bonus range but a mention of “discretionary incentive and retention award”. Is it something standard? Never worked at a BB so don’t know the norm. Thoughts/guidance? Thanks in advance

like

What do you guys think about a career in investor relations / capital formation for a decent size PE. I think principals get carry.

like

Has anyone ever left finance (or know someone that has) to do something completely different? My experience is split between FP&A and accounting and while I have progressed, I am becoming depressed b/c I feel like I’m in the wrong field. I am generally a motivated, high performing person, but I al starting to slip up and care less, b/c my work is not satisfying to me. I know I just sound like a complainer, but does anyone have any advice?

like

🗣️ #ASpaceToVent 🗣️
Making a career change is tough! Let's use this thread for venting, asking for community support and feedback, or just being witnessed on something that needs to be shared. A space to say what you can't say elsewhere!

like

Stay in corporate credit risk at a BB as an associate or transition to corporate banking as an associate at a regional bank. Cannot decide! Please help?

like

Is anyone familiar with post IB exit into something like IR? Still new to the game and other than PE (due to the herd mentality), I don’t know much about other exits for better work/life balance. If anyone has insight on type of work, recruiting process, and comp it would be super appreciated. TIA

like

Does anyone or know of any finance professionals that have exited to go work in the music industry or entertainment? I studied Econ/Finance and Music (songwriting) in college so I’ve always been interested to see if there’s a possible transition over to the music industry later on. I really enjoy finance and banking but a part of me wants to know if the music business/clients/development is a possible exit opportunity when I’m older and have put in my time in finance. Thanks!

like

Any suggestions for leaving a financial advisor/planner role? Finance has me drained and I don't want to be client-facing anymore.

like

What are potential exit opportunities in commercial banking? Are the skills transferable to other roles in finance?

Currently a CSA in PWM at a top wealth management bank (think UBS/MS/GS) but not loving private client work. What have other CSAs gone on to do that’s outside of the PWM realm?

like

Any particular segment of sales good for ex-finance? Currently 3 years in at fortune 100 bank on business development side (on commercial loan originations team but no commission/targets at the associate level, basically do credit analysis and build pitch books for the producers) This role has been great as I have gotten both analytical experience and tasted sales experience (I say taste bc I’m not the producer) but would potentially like to transition to a sales role that is less analytical

like

Looking to relocate to Boston (fiance grew up there and wants to settle down around family). Sadly I dont have much of a network up there. Does anyone know of current searches?

Looking to exit out of client facing mortgage ops and want to transition to something else more internal. Any job roles to specifically search for?

like

So I work with Citi and have about 9 YOE in finance, banking, accounting, AR, AP etc. a lot of different experience across all the spectrums. Intrigued by Fintech. What are some of the big companies hiring for fintech roles that maybe I could look into? Looking to make a change quickly. Live in Tampa.

like

Current a commercial banking II analyst at truist, $95k total comp. Looking at switching into tech sales, got an interview for an account executive position in fintech. Anyone know comps for Florida or recommend the move? Heard WLB and perks are great.

like

Has anyone successfully made a transition from IBD as an analyst/associate directly to MBB consulting without an MBA? Currently trying to make this move - any advice would be much appreciated. Thanks!

like

If your base salary is materially under vs. market due to firm salary freeze despite fighting for it &directors pushing for it. Yet you have strong support to progress internally. Would you leave?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal