I've got an offer from Blackrock for an internal wholesaler role. Originally I thought it was for another role, but because of my qualifications they offered the IW position which was a step up. The job is something I could do I don't doubt that, but anytime there's a quota involved I have to weigh the options.
What's the job security like for wholesalers? I mean are they real quick to show you the door if you have a bad month or two? The job I work now is basically 100% secure but the money and upside at Blackrock is pretty hard to ignore.
Thanks,
I have no experience with BlackRock, but at our place the metrics have always been meetings scheduled and other 'touches' with FAs. The External's job is to make the sale, the Internal's job is to get the External in the door.
I'd say the relationship with your External(s) (I don't know the ratio at BlackRock) is much more important. It's their job to bring in the dollars, and that is how they get paid, and how both of you will be evaluated as a team. If they're knocking it out of the park, and saying good things about you, you can probably miss every personal metric and be safe. If they're missing targets and badmouthing you then you can hit every personal metric and be in danger. (and they may be too)
This relationship is also important to comp. Your formal bonus is determined by the manager of the Internals, but I've heard of Externals giving their Internals informal bonuses well into the five figures.
This is all hearsay, by the way. I've never worked on the sales desk.
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