Getting started as a broker. Any advice?
To all the brokers (and former brokers) here how did you make it through that first year or two when you weren't making any money? Going to start in MM investment sales when I graduate (one year) but it'll be a commission-only role. So, any advice? Should I save up as much as I can over the next year? Get another job?
When I started, I lived at home for 14 months and did a little leasing (for a cheap fee for our property management arm) on the side to make money. I then used the money I made and bought a place and rented out the other bedroom which was nice because it got me a monthly paycheck.
Some of my friends did bartending or worked retail jobs on the side, but pretty much all of them just lived at home until they made a paycheck.
What has your pay progression been like since then?
Honestly pretty flat after the second year, while I was brokering deals. I went into more of the analyst role and wasn't out sourcing deals anymore. Pay stayed flat because I upgraded teams a few times to chase deal size and was fortunate enough to end up on a national institutional grade team that transacted low to mid nine figures a year before getting poached by a client.
So what if living at home isn't an option? I'm assuming building up a cushion and getting a second job or something is the way.
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