When hiring an associate or junior advisor, does anyone have any input as to how to structure pay to be competitive but not so much of a salary that they’re not hungry?

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We always pay a salary for 4 years so they can build a book they are proud of without worrying about how to feed the family

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You give them a draw instead of a salary equal to an average salary for your area with a guaranteed minimum payout on revenue, so he doesn’t get paid anything until he exceeds the draw but once he exceeds it he really starts to see his paycheck go up. Example, you give him a $5k a month draw with a 50% payout. If he does $20k in revenue, well that’s $10k then, so he’d get the $5k in excess of his draw at that point. If he does $10k or less than he’ll get only his draw. This is the way bank programs do it and it makes the most sense for what you said, enough to pay the bills but hungry because you can make more.

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If you're interested in joining EY and want a referral to boost your profile. Please mail your CV to ammar.azizi1@gmail.com along with the Job ID from the EY careers website (ey.com">https://careersey.com) for a referral. Please only send your CV if you have not already asked someone else to refer already. DM me here because sometimes the CV goes into my spam folder. Cheers!

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