haha everyone here is full of ****.
Private bankers don't earn on comm or products. their spread is so little that it is ridiculous. For example, priority/premier banking platforms charge 3-5% on funds,1-2percent on bonds. Private banks only charge 0.25%. why? because they make money based on AUM and Volume la!
Private bankers only do one thing; BRING IN AUM.
and obviously if you are 20 something or even in your 30s, you are not going to be a private banker. WHICH multimillionaire will want to take advice from a young punk? go think la!
maybe after you slog like a dog as an Associate RM for 8 years or you work on a Private Client, HNW platform then maybe you can even dream of being a private banker.
and BTW, its ******** that private bankers earn the most among bankers. ive seen Citigold Private client and Citigold RMs earn more then private bankers, simply because they get commission.
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