How do Institutional Sales guys get paid across the Street?ST
What's up guys? New to WSO and am looking for a little help.
I just had my 2nd interview for an Institutional Sales position in the Research Sales Division.
They told me that I would receive a salary but to get a bonus, I would need to "cover my draw".
Assuming I made $100k and my commission rate was 8%, I would need to bring in $1.25mm to "cover my draw" and get a bonus.
Was wondering if this is how it works across the street? Also, what is the typical commission rate for sales guys across the street?
Any help would be appreciated.