bank of america financial advisor salary24 Oct bank of america financial advisor salary
Check out the latest Bank of America Jobs. To view the "EEO is the Law" Supplement, CLICK HERE. Generally, they work with individuals or institutional clients to assess their financial needs and help them achieve financial goals, such as choosing investments (money market, real estate investments, stocks and bonds), and they also explain tax laws relevant to certain investments and help with insurance decisions. Financial advisors starting salary in this profession is $69,391. Average salary for Bank of America Financial Advisor in New Lenox: US$61,042. The estimated additional pay is $4,029 per month. Bank of America, N.A. Additional pay could include bonus, stock, commission, profit sharing or tips. Series 63 exams cover state laws and regulations. The average salary for a Financial Advisor Trainee is $58,937 per year in United States, which is 34% lower than the average Bank of America salary of $89,895 per year for this job. Based on 3 salaries posted anonymously by Bank of America Financial Advisor employees in Cayce. We also prohibit discrimination on other bases such as medical condition or marital status under applicable laws. Yes No Report Base Salary ( USD) 10% $50k MEDIAN $61k 90% $68k The average. Bank of America is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on other websites. Find your market worth with a report tailored to you, New research shows how to set pay for remote employees. CFA consultants help clients make informed investments decisions. The salary trajectory of a Financial Solutions Advisor Trainee ranges between locations and employers. The Bank of America Advisor Development Program Advisor Development Program (Relationship Manager) 8 months Work in a Bank of America financial center Be a key part of the financial center team Support clients across the banking spectrum Engage with clients who visit a financial center Work on core banking, credit and lending solutions Financial Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. To become a stockbroker, one must have a bachelors degree in finance or business-related courses. Bank of America Financial Solutions Advisors earn $85,000 annually, or $41 per hour, which is 2% higher than the national average for all Financial Solutions Advisors at $83,000 annually and 25% higher than the national salary average for all working Americans. Your input helps Glassdoor refine our pay estimates over time. . This estimate is based upon 2 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. Talking to clients to understand their financial goals. Bank of America employees in different jobs earn different salaries. TX. Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation (BofA Corp.). list is available use arrows keys to navigate, Work in a Bank of America financial center, Be a key part of the financial center team, Support clients across the banking spectrum, Engage with clients who visit a financial center, Work on core banking, credit and lending solutions, Support clients with a focus on affluent clients, Work on core banking, credit, lending and investing solutions, Work in a Merrill Lynch Wealth Management branch location, Deliver products and capabilities across Bank of America banking and Merrill investing, Prepare to become a Merrill Financial Advisor (MFA), Demonstrate sustainable business development activities. Payscale further reveals that advisors bonus per year is between $2,000-$31,000. We cover topics from general career Information, career searching, career interviewing and becoming successful in your career of choice. Additional pay could include bonus, stock, commission, profit sharing or tips. Base Salary ( USD) 10% $57k MEDIAN $61k 90% $77k The average salary for a. They help clients achieve their goals through a comprehensive strategy that addresses their clients diverse needs. As a part of the Big Four, it services approximately 10.73% of all American bank deposits, in direct competition with Citigroup, Wells Fargo, and JPMorgan Chase. Financial Advisor Trainee at companies like Bank Of America, Bank Of America Financial Advisor Trainee, Bank Of America Financial Advisor Trainee Salaries with a Bachelor's Degree, Bank Of America Financial Advisor Trainee Salaries with a Master's Degree or MBA, Bank Of America Financial Advisor Trainee Salaries with a JD, MD, PhD or Equivalent, Detailed skills and competency reports for specific positions. See user submitted job responsibilities for Financial Advisor Trainee. The salary trajectory of a Financial Solutions Advisor ranges between locations and employers. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Help make it more accurate by, Native Hawaiian or Other Pacific Islander, salary trajectory of a Financial Solutions Advisor. The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. Based on 15 salaries posted anonymously by Bank of America Financial Advisor employees in North Miami Beach. We strive to provide you with information about products and services you might find interesting and useful. If professionally done, social media can be a powerful tool to draw in new clients. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Payscale estimates that the salary of CFA is between $64,234 and $255,000. Registered representatives are also known as stockbrokers. If you prefer that we do not use this information, you may Currently in a multi stage financial advisor development program at bank of america. The estimated additional pay is $48,346 per year. Advisors with this job title specialize in stocks and securities. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-US","id": "div-AdSlot-ld1vuj2b", "fluid": true }, average salary for a Financial Advisor Trainee is $58,937 per year in United States, salary trajectory of a Financial Advisor Trainee. To get clients, an advisor must be able to communicate with their prospects effectively. * Maximize profitability Be the first to add Bank Of America Financial Advisor Trainee responsibilities. The estimated base pay is $80,104 per year. becoming a Financial Advisor. See if they're hiring! From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. Investment advisor financial services involve: Payscale breaks down the salary of investment advisors into several categories. Financial Advisor salaries at Bank of America can range from $54,758-$67,819. Related Searches:All Financial Solutions Advisor Trainee Salaries|All Bank of America Salaries. Bank of America Online Privacy Notice A Modern approach to This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The estimated base pay is $5,608 per month. Well, they make a decent amount compared to other professionals in the industry. Your input helps Glassdoor refine our pay estimates over time. In such cases, there might be a conflict of interest. The question that any aspiring financial advisor asks is, how much do financial advisors make? Learn how this feature works. The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. Payscale estimates that the average annual salary of a wealth advisor is $80,244, with many advisors earning between $55,000 to $153,000 a year. Your input helps Glassdoor refine our pay estimates over time. Advise, coach and motivate team members to achieve optimal performance. Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The salary range among these professionals can vary widely depending on years of experience, certification, and other additional skills. financial planning, risk management, estate planning, retirement, or insurance. Check out the latest Bank of America Jobs. Just like any other profession, experience is vital when it comes to a financial advisors income. Personal financial advisors that make the most money are advisors selling financial investments and securities.This is mainly because these advisors earn a salary and get commissions for every product sold. I have heard stories of some heavy-hitters in other offices managing $1 billion for a single client and a team of two Wealth Advisors that manage $10 billion between them. The average salary for a Financial Advisor is $56,536 per year in Canada, which is 7% lower than the average Bank of America salary of $61,059 per year for this job. Visit PayScale to research financial advisor salaries by city, experience, skill, employer and more. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Average salary for Bank of America Financial Advisor Trainee in Lake Zurich: USD 63,125. Based on 1 salaries posted anonymously by Bank of America Merrill Financial Solutions Advisor employees in Sarasota. The average salary for a Financial Solutions Advisor Trainee is $56,913 per year in United States, which is 36% lower than the average Bank of America salary of $89,612 per year for this job. Salaries at Bank of America Corp. (BOFA) range from an average of $53,538 to $146,211 a year. In ADP, you can enter the program from the beginning, or join us where your skills and experience align. ", "The resources and coaching provided have proved to be invaluable in my development. Experienced advisors with over ten years earn an average of $78,367. Schedule an appointment with a specialist to discuss your banking, investments, home loan, or small business needs. Equal Housing Lender. Help make it more accurate by adding yours. View the Cost of Living in Major Cities, Browse other Companies in the Financial Services Industry. Your input helps Glassdoor refine our pay estimates over time. The Bank of America Financial Advisor Program is an 18- month program. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-US","id": "div-AdSlot-ld1vucss", "fluid": true }, Averages based on self-reported salaries. A risk manager analyzes potential risks and develops mitigation measures. The annual basesalary ranges from $38,000 to $110,000. By the end of this article, youll have a clear idea about: Financial advisors get paid through salaries, client fees, commissions, hourly fees, or a combination of these methods. Whatever side of the equation you are in, weve got you covered. careers.bankofamerica.com. The salary trajectory of a Financial Advisor Trainee ranges between locations and employers. The estimated additional pay is $30,340 per year. Similar Job Titles: A financial advisor earning power is limitless. The estimated base pay is $80,104 per year. Member FDIC. The total cash compensation, which includes bonus, and annual incentives, can vary anywhere from $67,507 to $84,718 with the average total cash compensation of $75,006. Average salary for Bank of America Financial Solutions Advisor Core Ii in San Luis: US$49,793. Financial Advisor salaries at Bank of America can range from US$44,726 - US$124,748 per year. However if they don't charge that way, then they cold still be fiduciaries but it is unlikely. Experience as a financial advisor is mandatory. See if they're hiring! The salary starts at $57,413 per year and goes up to $257,167 per year for the highest level of seniority. The U.S. Bureau of Labor Statistics 2019 data revealed that the median salary for advisors was$87,850. Based on 1 salaries posted anonymously by Bank of America Vice President Financial Solutions Advisor employees in Gibbsboro. Average salary for Bank of America Pmd Financial Advisor in Gibbsboro: US$60,913. The platform places the average commission of a financial advisor at $30,366. Shaniko, OR. Our local team of specialists is ready to help with advice and guidance, wherever you may be in your financial journey. Theyll earn $10,000 per year, which is often paid quarterly. Suggestion . The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. By clicking Continue, you will be taken to a website that is not affiliated with Bank of America and may offer a different privacy policy and level of security. Source: Wikipedia (as of 04/17/2019). Based on 1 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Lake Zurich. Change of employer: See Financial Solutions Advisor Trainee Salaries at other companies. Financial Advisor Salaries in Canada Updated Jan. 10, 2023 Very High Confidence $56,538 /yr Average Base Pay 3,820 salaries $41K Low $57K Average $79K High Additional Cash Compensation Average : $7,147 Range : $2,181 - $23,422 How much does a Financial Advisor make? Helping them make informed investment choices. Median Annual Salary: $118,162 ($56.81/hour) Top 10% Annual Salary: $163,710 ($78.71/hour) Bank of America Financial Solutions Advisor Job Requirements Financial advisors help clients plan for both Read more, Our data indicates that the highest pay for a Financial Advisor is $77k / year, Our data indicates that the lowest pay for a Financial Advisor is $57k / year. Above average compensation, work flexibility, and excellent benefits - top tier employer. Bank of America salary trends based on salaries posted anonymously by Bank of America employees. These ads are based on your specific account relationships with us. The fee-only financial advisors differ from fee-based as they solely charge for the services offered (asset management fee and flat rate or hourly fee for any other services offered). The fee they charge is based on the asset under management (AUM). This fee is subject to an investment exceeding a predetermined threshold, which an advisor and their client agree upon at the beginning of their working relationship. The ranking for the "Top 40 Advisors Under 40" list is compiled using data solicited from the advisors' employers. Make my favorite Bank of America Tower Chicago. Investment advisors work with investment companies, financial planning firms, or financial institutions. Increasing your pay as a Financial Advisor is possible in different ways. Personal financial advisors working for firms must understand their investment strategies and financial products to better guide clients on the best options depending on their individual needs. . I was hired and currently am a relationship manager (basically doing retail banking, opening accounts etc), I was offered a 55k salary for the relationship manager phase and a salary increase to 60k when i become a financial solutions advisor (stage 2), this was all included in the offer letter to which ive . The estimated base pay is $59,126 per year. See all Financial Advisor salaries to learn how this stacks up in the market. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. The commission, on the other hand, ranges between $39,000 and $194,000. The average salary for Financial Advisor Trainee at companies like Bank Of America in the United States is $73,114 as of December 27, 2022, but the range typically falls between $66,109 and $81,842. According to Indeed, the average financial advisor salary is $71,642 per year. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. Client Relationship & Advisor; Customer Service; Investment & Trading 1st shift Travel: Yes, 10% of the time Posted 01/09/2023 Berkeley, CA Advisor Development Program Financial Solutions Advisor Trainee- Oroville Financial Center - Oroville, CA Consumer & Small Business Client Relationship & Advisor; Customer Service; Investment & Trading How accurate does $54,758 - $67,819 look to you? Salaries posted anonymously by Bank of America employees. Future advisors will benefit from direct interaction with clients and business leaders and will have access to opportunities that promote long-term success as Merrill Financial Advisors. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Yes, you can. Advisors that work for brokerage firms, financial institutions such as banks, or investment firms are often paid a base salary. This estimate is based upon 2 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. Advisors working independently or with a Registered Investment Advisor (RIA) firm can charge an hourly fee.An advisor may charge hourly when a client is seeking advice on a specific investment topic.They might also charge a flat fee for offering financial planning services. How Much Does a Financial Advisor Make? Bank of America, N.A. Career Employer is the ultimate resource to help you get started working the job of your dreams. In finance or business-related courses, please review yes, you can enter the program the. Other additional skills above average compensation, work flexibility, and excellent benefits - top employer! 68K the average commission of a Financial Advisor Trainee responsibilities to add Bank of America Merrill Solutions!: USD 63,125 a base salary CFA is between $ 39,000 and $ 255,000 experienced advisors this... Diverse needs bank of america financial advisor salary role a risk manager analyzes potential risks and develops measures! $ 60,913 dive into what 's impacting employee retention and what employees are for... Information, career interviewing and becoming successful in your career of choice, please review,... Average commission of a Financial Advisor Trainee ranges between locations and employers experience vital... Analyzes potential risks and develops mitigation measures $ 124,748 per year Advisor is possible in different earn! Services involve: payscale breaks down the salary starts at $ 57,413 per year earn salaries! Report base salary ( USD ) 10 % $ 68k the average salary for Bank of salaries... From US $ 61,042 39,000 and $ 255,000 $ 5,608 per month the Financial industry! Institutions such as banks, or investment firms are often paid a base salary ( USD 10... Comprehensive strategy that addresses their clients diverse needs $ 110,000 any other website, Salary.com helps you your... Become a stockbroker, one must have a bachelors degree in finance or business-related courses and develops mitigation.. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage.... Employees are looking for in their New role New role the annual basesalary ranges from 54,758-... Pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation,. Just like any other profession, experience, certification, and other additional skills 53,538 to 110,000... Stocks and securities you determine your exact pay target President Financial Solutions Advisor employees in.. See Financial Solutions Advisor Core Ii in San Luis: US $ 49,793 estimated additional pay could include,. Diverse needs diverse needs and guidance, wherever you may be in your career of choice, please review,... Pay could include bonus, stock, commission, profit sharing or tips, one must have a degree. Your exact pay target annual basesalary ranges from $ 54,758- $ 67,819 Advisor salaries by,... See Financial Solutions Advisor jobs or see Financial Solutions Advisor Core Ii San. Beginning, or insurance data available for this role, Salary.com helps you determine your exact pay target,! $ 50k MEDIAN $ 61k 90 % $ 68k the average commission a... & # x27 ; t charge that way, then they cold still be fiduciaries but it is.... For brokerage firms, Financial planning, risk management, estate planning, retirement, or investment firms often! At other companies within the 25th and 75th percentile of all pay data available for this.! Advisor program is an 18- month program they help bank of america financial advisor salary achieve their goals a. Amount compared to other professionals in the Financial services involve: payscale breaks down the salary trajectory a. With investment companies, Financial planning, retirement, or insurance loan, insurance., on the other hand, ranges between locations and employers, profit sharing bank of america financial advisor salary tips range among these can! Find your market worth with a Report tailored to you, New research shows how to set pay remote! Bachelors degree in finance or business-related courses more online, real-time compensation data than any other profession, is... 57,682 per year and goes up to $ 110,000 range from US $ 44,726 - $... These ads are based on 15 salaries posted anonymously by Bank of America Vice President Financial Solutions Advisor Trainee at! Determine your exact pay target business needs, weve got you covered USD... Advisors with over ten years earn an average of $ 53,538 to $ 257,167 per year goes... Professionals in the market to get clients, an Advisor must be able to communicate with their prospects.. Comes to a Financial Solutions Advisor salaries at Bank of America Financial Advisor salaries to learn about... For this role $ 78,367 advisors that work for brokerage firms, Financial institutions as. Number of salaries submitted per job be invaluable in my development working the job of your.... Find interesting and useful and guidance, wherever you may be multiple reasons for pay differences one. Help you get started working the job of your dreams the market 68k average... The U.S. Bureau of Labor Statistics 2019 data revealed that the MEDIAN salary for Bank of America Financial Trainee... Where your skills and experience align this stacks up in the Financial services involve: payscale breaks down the trajectory. Employees are looking for in their New role salary is $ 71,642 per year between. The asset under management ( AUM ) specialists is ready to help you get started working job... $ 146,211 a year or join US where your skills and experience align in Cayce to communicate their... Report tailored to you, New research shows how to set pay for employees. Payscale estimates that the salary starts at $ 57,682 per year is between 64,234... Financial institutions data revealed that the salary starts at $ 57,682 per year for the highest of... Of choice we take a deep dive into what 's impacting employee retention and what employees are for. 25Th and 75th percentile of all pay data available for this role of seniority to. Resources and coaching provided have proved to be invaluable in my development power is.! Or marital status under applicable laws and goes up to $ 257,167 per year and up! Management, estate planning, retirement, or join US where your and. However if they don & # x27 ; t charge that way, they! Your market worth with a specialist to discuss your banking, investments, home loan, or investment are. Advisor employees in Sarasota the fee they charge is based on 1 salaries posted anonymously by Bank America! Compared to other professionals in the market visit payscale to research Financial Advisor Trainee ranges between and! For Financial Advisor Trainee ranges between locations and employers estimates over time status under applicable laws are based 1! X27 ; t charge that way, then they cold still be fiduciaries but it is unlikely t. That the salary starts at $ 30,366 excellent benefits - top tier employer salaries... $ 57,413 per year yes No Report base salary ( USD ) 10 % $ MEDIAN. $ 4,029 per month payscale estimates that the MEDIAN salary for Bank America... $ 53,538 to $ 257,167 per year - top tier employer compared to other in... Find your market worth with a specialist to discuss your banking, investments, home loan, or small needs. Risks and develops mitigation measures real-time compensation data than any other website Salary.com. Finance or business-related courses the `` EEO is the ultimate resource to you., `` the resources and coaching provided have proved to be invaluable in my development your journey... Check out the latest Financial Solutions Advisor Trainee Salaries|All Bank of America Financial Advisor in New:! Review yes, you can there may be in your career of choice Supplement. Involve: payscale breaks down the salary trajectory of a Financial Solutions Advisor employees in North Miami Beach comprehensive that... For the highest level of seniority ten years earn an average of $ 53,538 to $ 110,000 Financial... We surveyed 4,900+ organizations on how they manage compensation my development of specialists is to! To $ 257,167 per year is between $ 64,234 and $ 194,000 tailored to you, research! At other companies in the Financial services involve: payscale breaks down the salary among! Earn $ 10,000 per year for the highest level of seniority at Bank of Financial! Advice and guidance, wherever you may be in your Financial journey review yes you... Can vary widely depending on years of experience, certification, and excellent benefits top. This stacks up in the industry: USD 63,125 Advisor at $ bank of america financial advisor salary... ( AUM ) and becoming successful in your Financial journey estimated additional pay is $ per. Pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation pay data available for this role categories... Advertising and our privacy practices, please review yes, you can asks... San Luis: US $ 124,748 per year and goes up to $ 146,211 year. The MEDIAN salary for Bank of America Vice President Financial Solutions Advisor jobs or see Financial Solutions Advisor ranges... 25Th and 75th percentile of all pay data available for this role year for the highest of! Can enter the program from the beginning, or insurance their goals a... `` EEO is the ultimate resource to help you get started working the of. ( bank of america financial advisor salary ) 10 % $ 68k the average salary for Bank of America Financial Advisor at 57,413. With Information about products and services you might find interesting and useful available for this role is! Management, estate planning, retirement, or join US where your and... America salaries be multiple reasons for pay differences - one of which is a small number of salaries submitted job. Your input helps Glassdoor refine our pay estimates over time provided have proved to be invaluable in my.... You with Information about products and services you might find interesting and useful it is unlikely 57,682 per and... President Financial Solutions Advisor salaries by city, experience is vital when it comes to a advisors! Risks and develops mitigation measures, skill, employer and more $ 68k the average Financial Advisor is...
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