bps at wires?

6 replies [Last post]
xbanker's picture
Offline
Joined: 2007-01-21

If you're at one of the five major wires, can you give me the scoop on how many bps you receive on production? Please state if varies by product or AUM. I've heard depending on assets you'll get around 30-45 bps, toward the higher end for proprietary product or if you've reached a certain level of production already. Please elaborate if in production (past training salary) at a wire.

troll's picture
Offline
Joined: 2004-11-29

Did someone just teach you about basis points and you just want to try out your new words?

troll's picture
Offline
Joined: 2004-11-29

30-45 is about right, although lower end producers can find themselves in the "penalty box" at 20-29%. It depends on your level of production, and LOS (years in the industry as a rep).

xbanker's picture
Offline
Joined: 2007-01-21

LOS? I assume longevity of service? That's a bit surprising, unless someone's
previous grid is grandfathered in? Can you elaborate on who does this and
how? (More of the cut or just eligible for other perks after a certain time
period?)

snaggletooth's picture
Offline
Joined: 2007-07-13

xbanker wrote:LOS? I assume longevity of service? That's a bit surprising, unless someone's previous grid is grandfathered in? Can you elaborate on who does this and how? (More of the cut or just eligible for other perks after a certain time period?)
Huh?

troll's picture
Offline
Joined: 2004-11-29

Thought I LOS was pretty clear about LOS when I said in my post "LOS (years in the industry as a rep". So if one FA is doing 300k and has LOS 5 yrs, he might get paid at 36%, but another FA doing 300k with 15 yrs LOS is getting paid 24%, because he is expected to be doing 700k AFTER 15 years. Hope this is clear??????????????????

Cowboy93's picture
Offline
Joined: 2005-05-10

If you're at one of the five major wires, can you give me the scoop on how many bps you receive on production? Please state if varies by product or AUM. I've heard depending on assets you'll get around 30-45 bps
30-45 is about right
-----------------
Side note....if you receive 30-45 basis points of your production, you will go out of business very quickly.  Maybe you need to learn what a bp is first.  You should be receiving between 3000 and 4500 bps of the production you generate.  That should be a hint...

Please or Register to post comments.

Industry Newsletters
Careers Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×