Payout

26 replies [Last post]
Ronnie Dobbs's picture
Offline
Joined: 2009-07-23

Hey guys,

I'm just curious. What payouts, salaries, benefit packages, Insurance...etc... do you guys get at all your other firms. I was just curious the difference between other firms/banks etc....

Hey Kool-Aid's picture
Offline
Joined: 2008-03-30

Ronnie Dobbs wrote:Hey guys, I'm just curious. What payouts, salaries, benefit packages, Insurance...etc... do you guys get at all your other firms. I was just curious the difference between other firms/banks etc....
 
Damn....I ....I....I.....it's always about you isn't it!!!!??????!?!???   ....sorry Windy...couldn't resist...you know someone will start in on you even asking the simplest of questions!!

conage's picture
Offline
Joined: 2007-06-15

no offense, but it is almost a stupid question.  Payout percentatage is relative to how much the firm actually shows you made.  Haircuts, minimum trades, ticket charges, bond desk markups, etc vary so much between firms that comparisons are not very helpful.  45% at one place could be a lot less than 43% at another, if the firm is taking 25% of an FA's revenue off the top and never showing it on a grid.

Ronnie Dobbs's picture
Offline
Joined: 2009-07-23

conage wrote: no offense, but it is almost a stupid question.  Payout percentatage is relative to how much the firm actually shows you made.  Haircuts, minimum trades, ticket charges, bond desk markups, etc vary so much between firms that comparisons are not very helpful.  45% at one place could be a lot less than 43% at another, if the firm is taking 25% of an FA's revenue off the top and never showing it on a grid.

Ok, let me re-ask the question for the retarded.

- How much do each of you bring home at other firms/bank etc..? Also, how are your benefits and do you also get a salary?

Conage - Don't make this more complicated than it really is. It's not a stupid question. Everyone knows exactly what they bring home.

Wet_Blanket's picture
Offline
Joined: 2008-11-13

I take home 100% Net.  Annual bonus can range between 10 - 50%.

DeBolt's picture
Offline
Joined: 2009-07-12

To help us retards out why don't you post what you earn and/or recieve in benefits so we can use it as a template. Even though I seriously dought anyone will answer you.

Ronnie Dobbs's picture
Offline
Joined: 2009-07-23

DeBolt wrote: Even though I seriously dought anyone will answer you.

That wasn't even a type o. That was a full blown, "I can't spell doubt"...

DeBolt's picture
Offline
Joined: 2009-07-12

Sew...

conage's picture
Offline
Joined: 2007-06-15

Ronnie Dobbs wrote: conage wrote: no offense, but it is almost a stupid question.  Payout percentatage is relative to how much the firm actually shows you made.  Haircuts, minimum trades, ticket charges, bond desk markups, etc vary so much between firms that comparisons are not very helpful.  45% at one place could be a lot less than 43% at another, if the firm is taking 25% of an FA's revenue off the top and never showing it on a grid. Ok, let me re-ask the question for the retarded. - How much do each of you bring home at other firms/bank etc..? Also, how are your benefits and do you also get a salary? Conage - Don't make this more complicated than it really is. It's not a stupid question. Everyone knows exactly what they bring home.

i  we  ta  did

newbroker's picture
Offline
Joined: 2009-09-02

I'd like to here answers to this question also. 

Floorlord's picture
Offline
Joined: 2009-08-05

Salary - 50 Rubles per week2 sacks potato per month1 sack flour per month if prop. closed end bond fund quota is met1 1/2 chickens per month if financial plan quota is met2 rump roasts per quarter if small account call center migration quota is met

KensLoveChild's picture
Offline
Joined: 2009-03-11

I call BS on those numbers.50 Rubles a week my azz.

B24's picture
B24
Offline
Joined: 2008-07-08

Ronnie Dobbs wrote:Hey guys, I'm just curious. What payouts, salaries, benefit packages, Insurance...etc... do you guys get at all your other firms. I was just curious the difference between other firms/banks etc....
 
Wind, if you were referring to captive firms (wirehouses, regionals, etc.), you should look at the payout chart at OnWallStreet.  it summarizes payout structure at the major firms at different production levels.  It won't answer ALL your questions, but it's a good start.
 
If you are looking to compare Jones to others, it is safe to say we are near the top for small producers (we have no minimums for payouts like some wirehouses, adn do not haircut lower producers), we are very competitive, or near the top for VERY large producers (like over 750K-$1mm) due to our bonus structure and uncapped profit sharing.
But we are less competitive in between because we are capped at 40% payout, and our bonuses are not that meaningful until about $400K+ in production. 
 
http://www.onwallstreet.com/global/payout_grids.html

B24's picture
B24
Offline
Joined: 2008-07-08

AGEMAN wrote: B24 wrote:Ronnie Dobbs wrote:Hey guys, I'm just curious. What payouts, salaries, benefit packages, Insurance...etc... do you guys get at all your other firms. I was just curious the difference between other firms/banks etc....
 
Wind, if you were referring to captive firms (wirehouses, regionals, etc.), you should look at the payout chart at OnWallStreet.  it summarizes payout structure at the major firms at different production levels.  It won't answer ALL your questions, but it's a good start.
 
If you are looking to compare Jones to others, it is safe to say we are near the top for small producers (we have no minimums for payouts like some wirehouses, adn do not haircut lower producers), we are very competitive, or near the top for VERY large producers (like over 750K-$1mm) due to our bonus structure and uncapped profit sharing.
But we are less competitive in between because we are capped at 40% payout, and our bonuses are not that meaningful until about $400K+ in production. 
 
http://www.onwallstreet.com/global/payout_grids.html
Jones only pays 35% on C shares

Correct.

Spud34's picture
Offline
Joined: 2010-02-09

Ronnie Dobbs wrote:- How much do each of you bring home at other firms/bank etc..? QUOTE]
 
I don't hold outside work, so I don't bring home anything from other firms/banks.  I've considered the bank gig, but don't want to mess my hair up with that stocking cap.  It is something to consider, though.

noggin's picture
Offline
Joined: 2004-11-30

I make 83% on 70% of the 49 %. Does that help?

Ron 14's picture
Offline
Joined: 2008-07-10

To answer your question I am basically 30% with top notch benefits. That is standard for banks / credit unions. If you are over 350k production its 35%, 500k is 42%.

Vikram Pandit's picture
Offline
Joined: 2010-01-23

$1

Thanks, F cking Obama.

SometimesNowhere's picture
Joined: 2008-12-22

Vikram Pandit wrote:$1

Thanks, F cking Obama.That's about what you're worth, Vikram.

LockEDJ's picture
Offline
Joined: 2009-07-06

B24 wrote:It won't answer ALL your questions, but it's a good start.
 
I think the big question is bene's ... as Ron14 points out, he gets a nice package from the bank. One of the guys I went to KYC with just left Jones for a bank, and a lot of it was benefits ... plus, of course, he didn't feel like he'd have to work as hard. Can't blame him.
 
Do other wirehouses cover insurance at all? Are banks straight commission?

Roxie's picture
Offline
Joined: 2009-10-19

Ron 14 wrote:
To answer your question I am basically 30% with top notch benefits. That is standard for banks / credit unions. If you are over 350k production its 35%, 500k is 42%.
 
This may be 30% for those in the bank less than 18 months or could be a payout after that but it would have a minimum revenue to hit.  42%?- check to confirm, this may be gone. 
 
Many bank advisors average 20k in gross and this is often considered the minimum, but keep in mind that is average and half make more and half make less.  Also, mix of funds, wrap, annuities etc will skew the numbers.
 
Also, I think to many people get caught up in payout and stuff and really the question is how do you want to prospect, what is your skill set and what kind of image are you looking for?  Answer those questions and you will know where you want to work.
 
 

BerkshireBull's picture
Offline
Joined: 2009-06-10

45% under $27,000 FYC55% $27,000 - $39,000 FYC60% $39,000 - $52,000 FYC65% $52,000 - $72,000 FYC70% $72,000 - $92,000 FYC85% $92,000 FYC +80% on wrap regardless of FYC Production

CORR's picture
Offline
Joined: 2010-02-02

WFA:
 
33% of gross revenue.
100% of the first 1% on wrap accounts.
 
W-2 Employee w/ all benefits and 401K (Matching at 6%.)

Mr.Blonde's picture
Offline
Joined: 2009-10-06

LockEDJ wrote:B24 wrote:It won't answer ALL your questions, but it's a good start.
 
I think the big question is bene's ... as Ron14 points out, he gets a nice package from the bank. One of the guys I went to KYC with just left Jones for a bank, and a lot of it was benefits ... plus, of course, he didn't feel like he'd have to work as hard. Can't blame him.
 
Do other wirehouses cover insurance at all? Are banks straight commission?

Buddy of mine is on a salary plus commission and bonus based on new assets.
 
Mine is a draw against production. They pay you upfront expected commissions for the year and and the end of the year write a bonus check for the rest. Average payout is 40% plus great benefits, DB pension, and nominal expenses.

Please or Register to post comments.

Industry Newsletters
Careers Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×