Quote:
Originally Posted by osd
lol I have plenty of friends who are relationship managers. From my understanding it's like a salesman job with normal pay + comms. What kind of banks do u guys work at? How come can get 4.5-7k basic , 6 months bonus and even progress to IB LOL.
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Let me clear the air. I don't know the absolute figures but I speak from reputable source.
When you say wealth advisor, relationship manager, your pay and opportunities depend on which tier. I think the leveling goes something like this:
Retail - someone like me with little cash.
Privilege - $50k to $200k.
Private Client - $200k to $1m.
Private Banking - $1m and above.
I'll say that you can earn $4.5k to $7k base + bonus / commissions when you start serving Private Client. Then when you serve Private Banking, I think all in monthly can be $40k.
Anyone else with to confirm with me?