Edward Jones Pays $77000/year as a financial advisor for new grad?

[wasserkool]

Thats what one of my friend is telling everyone that he got an offer from Edward Jones paying $77K/year. I smell BS..anyone thinks the same ?

I though Edward Jones Financial Advisor is commision based.

[red120]

Full commission places can still offer you a contract that has a hard figure... based on "projected" earnings. Had that before for myself. It doesn't mean anything.

[monty613]

Starting salary at places like this might be $30-35K, if you're lucky

$77K/year is a lot of door-knocking, and your friend probably won't make it that far anyway...

[YnD]

Thats what one of my friend is telling everyone that he got an offer from Edward Jones paying $77K/year. I smell BS..anyone thinks the same ?

I though Edward Jones Financial Advisor is commision based.

You gotta be good at it to hit that much... as with any sales job...
If he can get clients....

[UrbanPoet]

does edward jones give you a base salarY?

[YnD]

does edward jones give you a base salarY?

In your first year for sure and possibly the second (depending on how the client base and growth is etc)... I believe its $30-$40k..

I talked to an employee about 4 months ago...

[flito ray]

ne1 know ifu can do this part time with base salary of 30-40K?

[Fantastical]

TD pays low 40k starting financial advisor, as you get more senior you are offered commission/bonus etc.....

So a long-term financial advisor can make 80k+...

[deep]

ne1 know ifu can do this part time with base salary of 30-40K?

Too funny, coming from you.

[babysham]

TD pays low 40k starting financial advisor, as you get more senior you are offered commission/bonus etc.....

So a long-term financial advisor can make 80k+...

$80K as a financial advisor....

Where did you hear that?

[YnD]

$80K as a financial advisor....

Where did you hear that?

My coworkers gf works at TD as a Mortgage Advisor or similiar title... basically she is given a client list of around 100-150...

She has lunches/dinners with them and basically works on the road and sells mortgages and related products...

Her base is 60 k + commission/bonus and she says she hits 100 k+ on good years... (keep in mind she's been with TD bank since 17 and shes like high 20's now so thats like 10yrs exp already...)

[babysham]

My coworkers gf works at TD as a Mortgage Advisor or similiar title... basically she is given a client list of around 100-150...

She has lunches/dinners with them and basically works on the road and sells mortgages and related products...

Her base is 60 k + commission/bonus and she says she hits 100 k+ on good years... (keep in mind she's been with TD bank since 17 and shes like high 20's now so thats like 10yrs exp already...)

She works on commission though.

Financial advisors don't. That's why I'm wondering how a financial advisor is making 80k+.

[YnD]

She works on commission though.

Financial advisors don't. That's why I'm wondering how a financial advisor is making 80k+.

I dunno if financial advisor is the same as investment advisor... but alot of investment advisor works on 100% commission + bonus and they can easily hit 80k+ with a well built clientele (most likely not when starting fresh though).

[Fantastical]

I maybe mistaken then....But if you work the math..

Start low 40s

After 8 yrs it will be around 70k + bonus?

She works on commission though.

Financial advisors don't. That's why I'm wondering how a financial advisor is making 80k+.

[carmaster]

This is false. I know this because I was offered a position at Edward Jones. They give you a base of $30,000 first year and bonuses. The second year you are only on commission and bonus but your percentage increases. They setup an office for you and you have to do a lot of door to door sales to get clients from the area.