Will give people something. 

Base 85k

1st year starting in July

Bonus 10k prorated so if I worked the whole year conversion to around 27k

smaller shop so no BB salaries sadly. 

 

For banking, yes and for NPWA… not $150k for BDP. Current employee and confirmed across cohort class…

Also, prior to this year, BDP (A2A promote) base was $90-100k, GS doesn’t really view you as associate until you enter NPWA which is now $160k

 

People making $10mm surely own a RIA? Or are those employees of a B/D?

Another completely different question for you as a seasoned vet, why do more advisors not start an RIA and run their own small personal funds with a carry structure? 

 

nope, this is wirehouse my guy

the reason I've not gone independent is because the net margins end up being the same for a practice like mine. I compare numbers with some indy guys and many of them may have a 10% payout higher than me but 50% more headaches between HR, logistics, managing an office, etc., and the closest person to a practice like mine has identical net margins to me (sticker payout is 90%, but after paying for everything he's in the upper 40s % wise like me)

 

Good to know, that's impressive for B/D employees.

And for carry, do you ever see advisors go indy and start their own personal fund to collect carry/promote? Seems like you could rake it in if you took that route.

 
Most Helpful

I've been in the independent world for many yrs (30ish). The margins really depend on the individual business model. I know guys making well in to 7 figures (net) with a operating margin of 50% and others who are very lean and operate on an 80% margin of a gross of 92%. So it really depends on how you operate, what type of practice, how many staff, what you do to market. One guy I know is literally a one man shop - no support staff at all - and operate on a net of approx 85%. He can't really grow but doesn't want to as he makes about 800k net and doesn't have to deal with anyone other than his clients. Works a ton though.

 

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