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| *Ostroff, Fair and Company>>>Financial Services |
Bond Trader or Investment Adviser salary? |
Please help me, I want to know what I should do with me life. What are the adverage salaries for a bond trader and investment/financial advisior, with an MBA. I don't have an MBA yet, but I would like to get one. PLease help.......thanks go to salary.com to find the average... but dont believe it too much... the "average" will be skewed by the top earners that are in the 7 figure range... I can speak from the financial advisor side and say that it is a revolving door. I have seen as many people drop out of the industry as i have seen earn a decent (75k to 125k) wage... but it is all comission based so top earners seem to be in the 300k to 500k range with the Superstars in 1million plus (but they are few and far between) ... most likely you can expect to make about 45 k your first year and be either forced out of a job for lack of production or in making 80k by year 5.. but again there are no rules. Its possible you excel at selling (which is more important than being right about if the market goes up or down.. be safe, dont lose people money and sell sell sell)... and you could earn 300k in your 2nd or 3rd year... good luck Salary can vary widely. I would recommend getting a CFA designation instead of or in addition to the MBA. The CFA is the standard qualification for an investment advisor, see www.cfainstitute.org. According to salary.com, the starting salary for a bond trader is about $55,000 and a senior bond trader with 3 to 5 years of experience can make about $100,000. Investment and financial advisors vary widely in salary and can vary based on commissions too, but a CFA and/or MBA will probably get you at least $70,000. The average compensation for a securities trader in 2005 was about $135,000. But there are Wall Street bond traders who make millions of dollars in bonuses based on their trading profits. The average compensation for a personal financial advisor in 2005 was around $93,000. But your compensation is theoretically unlimited, since your earn commissions based on the number and type of accounts you can draw to your company. http://www.sifma.org/research/pdf/rrvol2... |
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