Comp for Client Service Associate
Just wondering, What would be total comp for a client service associate working for a high revenue team at a firm like Morgan Stanley/UBS, around. 1-2B? I have a hard time believing the comp on glassdoor (45k?)
Just wondering, What would be total comp for a client service associate working for a high revenue team at a firm like Morgan Stanley/UBS, around. 1-2B? I have a hard time believing the comp on glassdoor (45k?)
+25 | Guggenheim Investment Analyst | 9 | 2w | |
+21 | RFP writer role, yayy or nay? | 7 | 5d | |
+18 | Moving on from a niche AM role to investments | 3 | 1d | |
+18 | Moving to an Endowment Fund from IB | 7 | 1w | |
+14 | Need help choosing job in AM!! | 2 | 1w | |
+14 | Job cuts at AM - trying to move | 6 | 2w | |
+12 | Any Opinions? LSE MSc Finance and Risk vs MSc Finance | 1 | 2w | |
+12 | Possible to go from journalism to AM? | 7 | 1d | |
+11 | Lateral in AM, mid-level? | 5 | 1w | |
+10 | PIP as first year analyst | 2 | 1w |
Career Resources
the $45k is the salary that the firm pays. The team normally pays a percentage of revenue as bonus on top of that. Some CSAs can make $60k while other seniors on big teams can make upwards of $200k (a bit of an outlier).
How many CSAs does the team have?
Is this bonus paid out yearly? I’m under the impression the group has 2-3 CSAs
The bank I work at has four components of salary:
1. Base salary - this is normally very low (think ~35k) and is paid bi-weekly. This is paid by the bank.
2. Fee split - you will typically get about 1% of whatever profit the IA makes. Some IAs really value their associates and will give a higher percentage. If the IA doesn't like you, find another job because you probably won't get much. If the book is $300mm for example and the IA's average comp is 1%, the IA brings in $3mm. You would get a 1% cut of that $3mm so 30k. This is paid quarterly. If the book is $1-2b, you will probably get less than 1% since that's a fairly significant book.
3. IA bonus - The IA gets a bonus depending on performance and if he likes you he'll give you a cut. This can be fairly small (few thousand) depending on the IA.
4. Branch bonus - Think of this as a typical year-end bonus. Nothing too crazy, could be similar to the IA bonus.
Of course, I can't speak on other branches because they might have a different structure. Nonetheless, at the end of the day the IA is running his own business and decides what to pay you. This is a field where chemistry is VERY important so if you do not get along with your IA you will not be paid well. On the other end, if your IA loves you, you can walk away with a very good sum of money. I know an associate who is taking home close to 200k because the IA cannot afford to lose him/her.
Glassdoor gives you a small value because people typically don't share their commission. Same way that if you were to look up "investment advisor" you'll probably see salaries barely scraping 6 figures. Most seasoned advisors I know take home no less than 500k.
Are you at a wire?
Yes
Itaque vel adipisci consequatur veniam aliquid. Error aliquid quam est vel iure facilis saepe quis. Et in sed ipsa neque soluta a itaque deleniti.
Eum error ducimus vel inventore mollitia. In vero qui eaque aut rerum laboriosam. Non inventore perferendis officiis sequi recusandae deleniti voluptas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...