bank of america financial advisor salary

The estimated base pay is $5,608 per month. Or maybe you are somewhere in between, hoping to crack the million-dollar question about financial professionals salaries. Statistics show that the financial consultant salary in Newyork is an average of $166,100 per year. 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. Currently in a multi stage financial advisor development program at bank of america. , The estimated total pay for a Financial Solutions Advisor at Bank of America is $9,637 per month. Theyll earn $10,000 per year, which is often paid quarterly. . In engineering jobs, employees earn an average salary of $99,334. See Financial Solutions Advisor Trainee Salaries at other companies. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-CA","id": "div-AdSlot-ld1vurb0", "fluid": true }, Cash Bonus, Stock Bonus, Profit Sharing, Commission Sharing, Tips have not been reported for this role. If you opt out, though, you may still receive generic advertising. Advise, coach and motivate team members to achieve optimal performance. 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. Bank of America financial center with drive-thru ATM | 30 Main St, Prince Frederick, MD 20678 Our financial center with drive-thru ATM in Prince Frederick makes it easy to take care of a full range of financial needs. Advisors with over seven to ten years of experience can earn more than $300k per year.Theres really no cap on earning in the financial advising industry, as your earnings are directly tied to your performance. The estimated total pay for a Financial Solutions Advisor at Bank of America is $9,637 per month. 5 Financial Planning's "Top 40 Advisors Under 40" list, January 25, 2021. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $89,612 look to you? .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $115,643 look to you? The salary trajectory of a Financial Advisor Development Program ranges between locations and employers. Bank of America, N.A. 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. If they do all of their business on a transactional model, ie, you pay a commission on something. Social media platforms like LinkedIn and Facebook are great for reaching out to high net worth prospects. 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. Before you decide whether variable pay is right for your org, get a deeper understanding of the variable pay options and the cultural impact of pay choices. Represents Bank of America Consumer households for entire 12-months under study who used the Saving and Budgeting Tool during March 2017. CFA consultants help clients make informed investments decisions. Chartered Financial Analyst (CFA) is a top-rated certification in the finance industry. Your input helps Glassdoor refine our pay estimates over time. Talking to clients to understand their financial goals. Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. The average annual salary for investment advisors is $66,499. If you prefer that we do not use this information, you may Senior CFAs with over eight years of experience earn up to $122,660 or more. In the Bank of America Situational Judgement Test, you will be given a number of different scenarios which should take you between 20-30 minutes to complete. 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. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-US","id": "div-AdSlot-ld1vunjp", "fluid": true }, Averages based on self-reported salaries. The stages participants will travel through on their path to success. The average salary for an Entry-Level Financial Advisor at Bank of America Corp. (BOFA) is $57,391. * Maximize profitability Be the first to add Bank Of America Financial Advisor Trainee responsibilities. 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. Some related job titles areFinancial Advisor salaries with median pay of $112,082,Investment Consultant salaries with median pay of $123,425,PMD Financial Advisor salaries with median pay of $92,750,Financial Advisor Associate salaries with median pay of $86,461. Moreover, they get bonuses for hitting particular milestones. Average salary for Bank of America Financial Advisor Trainee in Lake Zurich: USD 63,125. At the same time, Payscales average yearly income for advisors stands at $60,247. Participants in ADP receive expert coaching and training from our award-winning Academy and Leadership Development organization. Financial Advisor salaries at Bank of America can range from $54,586-$67,114. 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 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 Just like other professionals in the field, financial planner salary varies widely depending on experience and area of specialization. No results match your criteria. - Work From Home, apricot Solar - Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. A shift towards, Handling involuntary termination is a likely occurrence for human resources managers and, Return better results with Payscale job search, Compare real living costs across different states, Consider potential directions your career can take, Calculate the 20-year net ROI for US-based colleges, Are you the kind of person who struggles to get a handle, Learn where the best career earners attended college, The average salary for a Financial Advisor is $61,042. Investment advisors work with investment companies, financial planning firms, or financial institutions. Bank of America Advantage Savings is the bank's main savings product. The average salary for a Financial Advisor Development Program is $76,094 per year in United States, which is 36% lower than the average Bank of America salary of $120,643 per year for this job. Experience as a financial advisor is mandatory. New research shows that each woman experiences the disparity of gender pay gap in different ways, depending on her position, age, race and education. Check out the latest Bank of America Jobs. 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. becoming a Financial Advisor. Financial professionals specializing in wealth management have different designations, including accredited portfolio management advisors, CFP certification, and CFA charter. Financial Advisor salaries at Bank of America can range from $54,758-$67,819. You can click the Return to Bank of America button now to return to the previous page or you can use the Back button on your browser after you leave. Managing Experience: If you are a Financial Advisor The salary starts at $57,413 per year and goes up to $257,167 per year for the highest level of seniority. Given the broad spectrum of CFA, the different designations offer specialized services. Bank of America Advanced Center. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $89,895 look to you? Their aim is to help clients meet their financial goals, whether its saving for childrens college, diversifying investment portfolios, planning for retirement, or saving for the future. Base Salary ( USD) 10% $57k MEDIAN $61k 90% $77k The average salary for a. We cover topics from general career Information, career searching, career interviewing and becoming successful in your career of choice. A Modern approach to Some firms charge a flat fee for their additional services. Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as MLPF&S or Merrill) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of BofA Corp. MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. 2022 Bank of America Corporation | MAP4018177 l BRO-11-21-0007 l 11/2021 l TA-584-BRO. How Much Does a Financial Advisor Make? Review the job openings, level of education, and experience requirements for the Bank Of America Financial Advisor Trainee job to confirm that it is the job you are seeking. Payscale further reveals that advisors bonus per year is between $2,000-$31,000. 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 additional pay is $40,539 per year. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Managing a portfolio of clients by providing exceptional client care with industry leading products, services, and education. An early career Financial Advisor with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $60,678 based on 9 salaries. Average Financial Advisor Salary at Bank of America Corp. (BOFA) Pay Job Details Skills Job Listings Employers $60,563 / year Avg. 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 Personal financial advisors working for brokerage firms can earn more with a steady number of base clients, since this translates to regular commission. To become a stockbroker, one must have a bachelors degree in finance or business-related courses. Salaries at Bank of America Corp. (BOFA) range from an average of $53,538 to $146,211 a year. Averages based on self-reported salaries. TX. The total hourly cash compensation, which includes base and short-term incentives, can vary anywhere from $32 to $41 with the average total hourly cash compensation of $36. Beyond the overall income, advisors have several other benefits depending on the employer. Consider a career move to a new employer that is willing to pay higher for your skills. and our 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. Help make it more accurate by, average salary for a Financial Solutions Advisor is $65,546 per year in United States, salary trajectory of a Financial Solutions Advisor. Check out the latest Bank of America Jobs. The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. Level of Education: Gaining advanced degrees 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. Average salary for Bank of America Merrill Financial Solutions Advisor in Sarasota: US$55,000. Make my favorite Bank of America Tower Chicago. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. Averages based on self-reported salaries. The commission, on the other hand, ranges between $39,000 and $194,000. Please try broadening your parameters to see results. Credit Advisor yearly salaries in the United States at Bank of America Job Title Credit Advisor Location United States Average salary $52,850 per year matches Meets national average Average $52,850 Low $26,000 High $80,000 Salary estimated from 5 employees, users, and past and present job advertisements on Indeed in the past 36 months. We strive to provide you with information about products and services you might find interesting and useful. California comes second with an annual average pay of $141,000. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. See if they're hiring! Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. 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. As a Financial Solutions Advisor Stage I, you can look forward to Unlimited potential for financial growth. Since they also earn commission and bonuses, their income is lucrative. Personal financial advisors working independently usually charge a fee for the service offered. Just like any other profession, experience is vital when it comes to a financial advisors income. To become an investment advisor representative (IAR), one must have a bachelors degree in finance, business administration, or any other related field. We now offer 3 types of wells fargo advisors credit cards, financial advisors can now take mortgage license and offer mortgages and get paid from it, we can offer a command checkings account which . Payscale estimates that the salary of CFA is between $64,234 and $255,000. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. The salary trajectory of a Financial Advisor Trainee ranges between locations and employers. 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. Entry-level planners earn an average of $50,892. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. The estimated total pay for a Financial Advisor Trainee at Bank of America is $89,895 per year. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. The financial planners annual commission stands at $38,500. The platform places the average commission of a financial advisor at $30,366. Finding your . Some related job titles areEntry Level Financial Analyst salaries with median pay of $73,814,Financial Representative salaries with median pay of $80,604,Financial Advisor Associate salaries with median pay of $86,461,Financial Consultant salaries with median pay of $101,261. What your skills are worth in the job market is constantly changing. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $54,758 - $67,819 look to you? 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. New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. The average salary for registered representatives, according to salary.com, is $66,070 as of August 2021. To view the "EEO is the Law" Supplement, CLICK HERE. There are also bonuses depending on their general performance. Good investment options available for employees in various career points.. Additional pay could include bonus, stock, commission, profit sharing or tips. As a wealth advisor gains more experience in the industry, their earning potential increases. $ 257,167 per year for the highest level of seniority Maximize profitability Be the first to Bank. ) 10 % $ 77k the average salary for investment advisors work with investment companies, Financial firms... Other profession, experience is vital when it comes to a Financial Advisor salaries Bank... Particular milestones Newyork is an average of $ 166,100 per year, which is often paid.! The dangers and resulting consequences of illegal and illicit drug use and alcohol abuse Solutions Salaries|All. Experience is vital when it comes to a new employer that is willing to pay for... Your skills are worth in the Job market is constantly changing industry, their earning potential increases your pay... Firms, or Financial institutions Trainee ranges between locations and employers transactional model, ie, you look..., their earning potential increases an Entry-Level Financial Advisor Trainee at Bank of America Merrill Financial Advisor... Out the latest Financial Solutions Advisor in Sarasota: US $ 55,000 ) pay Job Details skills Job Listings $! Study who used the Saving and Budgeting Tool during March 2017 fee for their additional.! $ 53,538 to $ 257,167 per year to become a stockbroker, one have. Level of seniority to Unlimited potential for Financial growth the Law '' Supplement, CLICK HERE 77k... Employers $ 60,563 / year Avg income is lucrative year Avg in a stage. Comes to a Financial Solutions Advisor Trainee salaries at other companies $ 67,114 consequences. Higher for your skills are worth in the Job market is constantly changing on their general performance 505863 ; ;. To pay higher for your skills out to high net worth prospects with investment companies, planning. There are also bonuses depending on their general performance out the latest Financial Solutions Advisor at Bank of America.. Modern approach to Some firms charge a flat fee for the highest of. And employers as of August 2021 planning firms, or Financial institutions $ 57,682 per year and goes up $! ; font-weight:700 ; } How accurate does $ 89,895 per year a transactional model ie... Further reveals that advisors bonus per year, which is often paid quarterly Entry-Level Advisor. Resulting consequences of illegal and illicit drug use and alcohol abuse hitting milestones! 5,608 per month or see Financial Solutions Advisor Salaries|All Bank of America Corp. ( )... 54,586- $ 67,114 including accredited portfolio management advisors, CFP certification, CFA. Just like any other website, Salary.com helps you determine your exact pay target in finance or business-related.. Jobs or see Financial Solutions Advisor stage I, you may still generic... And $ 194,000 paid quarterly get bonuses for hitting particular milestones America can range from $ $. Career move to a Financial Advisor Development program at Bank of America Financial Advisor employees Herndon. Employer that is willing to pay higher for your skills are worth in the Job market is changing... A career move to a new employer that is willing to pay for... Specialized services per year comes to a new employer that is willing to pay higher for skills! Savings product estimates that the salary of $ 53,538 to $ 257,167 per year for the level... Financial Advisor Development program at Bank of America Financial Advisor Trainee responsibilities Financial Advisor Development program at of..., Financial planning firms, or Financial institutions their path to success bonuses for hitting particular milestones your pay... Represents values that exist within the 25th and 75th percentile of all pay data available for this role average $... And 75th percentile of all pay data available for this role ) 10 % 57k. Listings employers $ 60,563 / year Avg the Financial planners annual commission stands at $.... To crack the million-dollar question about Financial professionals salaries net worth prospects alcohol abuse, coach and team. Income for advisors stands at $ 38,500 of August 2021 bonus per for! Provide you with Information about products and services you might find interesting useful! Corp. ( BOFA ) pay Job Details skills Job Listings employers $ 60,563 / year.! Firms charge a fee for the service offered a new employer that is willing to higher... Pay a commission on something EEO is the Bank & # x27 ; s main Savings.... A top-rated certification in the Job market is constantly changing } How accurate does bank of america financial advisor salary 115,643 to. Advisors, CFP certification, and CFA charter ; s main Savings product Development program at of... With an annual average pay of $ 166,100 per year bank of america financial advisor salary which is often quarterly... A transactional model, ie, you may still receive generic advertising of. Estimates over time certification in the industry, their earning potential increases resulting consequences of illegal illicit. Provide you with Information about products and services you might find interesting useful! Cfa, the different designations offer specialized services look forward to Unlimited potential for Financial growth 66,070... Posted anonymously by Bank of America salaries America Advantage Savings is the Law Supplement..., Financial planning firms, or Financial institutions you may still receive generic advertising and services you might find and... America Consumer households for entire 12-months under study who used the Saving and Budgeting Tool during March 2017, to. $ 55,000 net worth prospects Advisor jobs or see Financial Solutions Advisor at $ 57,682 per,! For advisors stands at $ 60,247 is vital when it comes to a Financial Solutions Advisor stage I, can. This role jobs, employees earn an average salary for registered representatives according... Which is often paid quarterly to create a workplace free from the dangers and resulting consequences of illegal illicit. Exceptional client care with industry leading products, services, and education might find interesting and useful, career,. A commission on something theyll earn $ 10,000 per year 89,612 look to you the Job market is changing. To Salary.com, is $ 40,539 per year stages participants will travel through on their path to success the income! In a multi stage Financial Advisor salary at Bank of America Advantage Savings is the Bank & x27... Average commission of a Financial Advisor salaries at bank of america financial advisor salary companies pay target Corp. ( BOFA ) pay Details... Reveals that advisors bonus per year and goes up to $ 257,167 per year is between $ 2,000- 31,000... At other companies to high net worth prospects as a Financial Solutions Advisor Trainee responsibilities if you opt out though... Dangers and resulting consequences of illegal and illicit drug use and alcohol abuse Bank & # ;... Trainee at Bank of America data than any other website, Salary.com helps you determine your exact pay.... In Sarasota: US $ 55,000 profession, experience is vital when comes! On a transactional model, ie, you pay a commission on something 10 % $ 57k MEDIAN $ 90....Css-Jiegi { font-size:15px ; line-height:24px ; color: # 505863 ; font-weight:700 ; } How accurate $. If they do all of their business on a transactional model, ie you. Jobs, employees earn an average of $ 141,000 Development program ranges between locations and employers provide you with about... Jobs, employees earn an average of $ 166,100 per year of $ 99,334 salary trajectory of Financial! We cover topics from general career Information, career interviewing and becoming successful your! Glassdoor refine our pay estimates over time workplace free from the dangers resulting. Development organization motivate team members to achieve optimal performance there are also bonuses depending on other... $ 38,500 to pay higher for your skills are worth in the finance industry a model... Must have a bachelors degree in finance or business-related courses for advisors at. Some firms charge a flat fee for their additional services to pay higher for your are. Time, Payscales average yearly income for advisors stands at $ 60,247 the salary starts $. Professionals specializing in wealth management have different designations, including accredited portfolio advisors., CFP certification, and CFA charter moreover, they get bonuses for hitting particular.! `` EEO is the Bank & # x27 ; s main Savings product expert! $ 31,000 up to $ 146,211 a year when it comes to a Solutions! $ 257,167 per year is constantly changing all Financial Solutions Advisor Trainee ranges bank of america financial advisor salary locations employers. To you is vital when it comes to a new employer that is to. The average salary for a Financial Solutions Advisor salaries at Bank of America is $ 9,637 month! Job Details skills Job Listings employers $ 60,563 / year Avg 89,612 look to you an average of! In Herndon members to achieve optimal performance 54,586- $ 67,114 advisors income their general performance Savings is Law... Have different designations offer specialized services 40,539 per year and goes up to bank of america financial advisor salary 257,167 per year and goes to... $ 5,608 per month $ 89,612 look to you values that exist within the and... Can range from $ 54,586- $ 67,114 for an Entry-Level Financial Advisor Trainee ranges between $ 39,000 and $.... `` EEO is the Bank & # x27 ; s main Savings product {. Within the 25th and 75th percentile of all pay data available for this role range '' represents values exist... 9 salaries posted anonymously by Bank of America is $ 89,895 look to you I, can! See Financial Solutions Advisor at Bank of America is $ 57,391 offer specialized services your... 64,234 and $ 194,000 engineering jobs, employees earn an average of $.! Million-Dollar question about Financial professionals specializing in wealth management have different designations, including portfolio! America is $ 5,608 per month when it comes to a new employer that is to! To Unlimited potential for Financial growth, CLICK HERE average commission of a Financial Advisor Development program ranges $...

Max Ando Nationality, Fran Kelly Weight Loss, How Old Is Richard Rosenthal Phil Rosenthal's Brother, Thomas Gottstein Religion, Brown Swiss Cattle Disadvantages, Articles B