Related Posts
How early is too early to ask for a raise?
More Posts
Pro
Pro
Enthusiast
Additional Posts in Financial Advisors
Anyone in SoCal?
Wells Fargo merger news. What’s it mean?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Managers typically make less than their top producers. If you’re looking at like Fidelity, Merrill Edge, Chase Wealth management, or a shop like that probably expect TC of about $150k. Management seems nice though until you get there. Managers are always getting pressure from up top. If you don’t feel it in production it’s because you have a good manager. If you feel the pressure in production it’s because your manager pushes their stress from their boss onto you. Either way manager gets way more pressure from up top than producers realize
Managers of top team probably closer to $170k TC
Coach
When I was on the supervision side (not sales management side) of merrill gwim and JPMA my total comp was around $165k. It’s a good step if you want to learn some good management and leadership skills and how to navigate upper management and all the political bs. It’s easy to get burned out doing but you can learn a lot and then pivot to something else.
Coach
I thought that was obvious when I said Gwim and JPMA?
Mentor
From what I have seen, non-producing supervisors usually make less than 100k, especially if they are not in a large branch and/or big city. We brought on a non-producing branch manager delegate that came from a supervisory role at a regional bank overseeing about 40 advisors and staff, and he was thrilled to make 90k. He is now supervising about 25 advisors and staff.
Interesting… thanks for the response. Loss of production is a concern. That’s where the real money is. But upward trajectory from what I’ve seen is pretty good and it removes the monthly grind I’ve experienced since my first professional gig so that’s enticing. My hope is this leadership/management experience can lead me to more interesting positions and/or firms with a personal goal of $300k OTE in the next 5/yrs. Not sure where to focus to find this. Up the ladder, jump firms for expedited title increases, fintech vs big bank.