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Hi! I just accepted a Relationship Banker II role in Allen, TX. My offer letter was 50k base and 1k guaranteed commission a month first year. I just graduated w a degree in Business Administration. Basically the info I got on how commission works was pretty vague. Anyway I wanted to see what someone I’m their 1st or 2nd year can realistically expect to on average make in commission a year in this role. Also what do bonuses in the role look like? I’m hoping to just hear some ballpark numbers! JPMorgan Chase JPMorgan Chase
This bowl has dead fishes 🎏🐟🐟🐟🐟🐟
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Anyone know the salary for a vp at Marcus?
I hate taxes
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Coach
I got a 800k property with 78k TC.
*One year after buying*
Property appreciated to $1.7M, my job changed and TC changed to 200k
Anything can happen! Take risk. You are not dumb :)
I live in Toronto btw.. if people are wondering about crazy house appreciation
How do you go from 78k to 200k that fast?
We have $200k combined TC and we’re under contract for $1.6M. Sit down.
Coach
A2 just as good knowing what NOT to do as what TO do lol
Update, after going under contract the seller received an all cash, no contingency backup offer of ~1.1M. They are now offering me 50k cash to buy me out of my contract. Housing market is cray cray!
Like I said Manager OP - be my guest if you want to justify where your purchase. It is your money - burn it for all I care.
Pretty good. Pretttttttty, pretttttttttty, pretttttty
Good
Lol nice Curb reference
This makes me feel better as my husband and I are building a house. 720k mortgage (plus land costs but we already have paid that off) + appliances on 508k TC I was freaking a bit at first
Subject Expert
I’m so glad PWC2 got flamed for this lukewarm and out of touch humble brag
Just did something similar
310k TC
1.18M Purchase
Taxes matter a lot too. I’m in TN, so a lot less than say NJ or NY
Man I’m jealous. Locked in a mortgage yesterday at 4.1% and that’s a good rate now. Plus taxes are high as it’s NJ. Same loan value and my emi is close to $7K
I bought a 500k house on a combined hhi of 120k. Just sold house for 950k 9 years later and now hhi is 400k. Stability of monthly payments offset rent inflation risks.
Hoping this for myself 🙏
We all have different priorities and interests. We are on a 400k mortgage with 900k hhi. But we spend 30k each year on travel.
Thanks. Actually looking at a mountain cabin now but need to run numbers to make sure it can pay for itself while supporting me living there working remote for a month every year. May wait until winter for high mortgage rates to kill 2nd home demand
I bought a $900k apartment at $210 TC. You might have to budget a bit more strictly but it’s not outrageous. Thankfully my comp has grown significantly so my payments are very reasonable
Roast
Well this has been underwhelming, usually the internet is full of financial advisors telling me I shouldn’t have done that. Thanks for the reassurance gang! Looking forward to it. Little cash poor for the next little bit. But hopefully the market continues to rise.
I think we are all happy for you/jealous that you got a house. Housing market is wild right now
Not even close to the worst I've seen
To clarify, they were the client or you were? 🤣
Mentor
Meanwhile I’m in NJ with a combined HHI with my wife of $375K and casually looking and getting heart palpitations at the monthlies on anything over a million…
Just the nature of New Jersey. You’re paying for access to New York, good school districts, and safe neighborhoods.
TC and purchase price mean nothing. TC and monthly mortgage payment are something
250 TC Can easily afford 2+mil. If all your mortgaging is 400k 😎
Not awful at all tbh pretty reasonable income/house value
Yeah, I'm a fire saver, and I personally wouldn't do that, but it's 100% doable
OP just wait, there's somebody from PwC lurking around who is going to absolutely skewer you for this and blame every economic downturn in history on your callousness.
This is fine. TC $340k and a $1,050,000 house.
3.875 rate
$270k mortgage and $375k HHI…….I guess we are frugal compared to some of you?
Yeah… $208k house ($80k to renovate last year). $250k HHI. I like monthly margin to buy investment properties. Still enjoy thrift shop visits and finding a good deal.
Sorry but what does TC stand for? and HHI?
Mentor
Tongue in cheek and the hand-holding initiative