bank of america financial advisor salary

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. careers.bankofamerica.com. Check out the latest Bank of America Jobs. 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. 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 . This is a total compensation that includes bonuses and commissions. Salaries by years of experience in the United States View job openings with the years of experience that is relevant to you on Indeed View jobs Is this useful? To become a certified financial planner, one must have a degree and also pass the CFP examination. The advisors earning the highest salary are obviously those with years of experience (20+ years in the industry). - Highest Paying in the USA! The stages participants will travel through on their path to success. 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. 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. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. 110 N Wacker Dr, Chicago, IL 60606. 2300 S Michigan Ave, Chicago, IL 60616. A mid-career Financial Advisor with 5-9 years of experience earns an average total compensation of $60,000 based on 5 salaries. 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? 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. California comes second with an annual average pay of $141,000. Member FDIC. Transform pay with our enterprise-grade comp platform, Automate compensation with our full-suite solution, Payscale's employer-reported salary data network, The world`s largest employee-submitted pay database, Annual survey salary data from HR industry publishers, The crowdsourced compensation data API for developers, 100% company submitted data from 2,000+ businesses, Schedule a personalized demo to feel the power of Payscale, Find salary information for similar job titles and locations, Comp Planning Business Case Pitch Deck By clicking Download Pitch Deck, you. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. The average annual salary for investment advisors is $66,499. The estimated total pay for a Financial Solutions Advisor Trainee at Bank of America is $89,300 per year. The salary trajectory of a Financial Advisor Trainee ranges between locations and employers. 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. Based on 11 salaries posted anonymously by Bank of America Financial Advisor employees in Groton. Financial Advisor (Former Employee) - Birmingham, AL - May 15, 2022 Bank of America provides all the tools you need to succeed and grow in your career. Base Salary ( USD) 10% $50k MEDIAN $61k 90% $68k The average. Stockbrokers usually work for brokerage firms, offering their services to either individual clients or companies under the brokerage firm. Santa Cruz, CA, Apricot Solar/Freedom Forever Solar - 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. If you prefer that we do not use this information, you may The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. Check out the latest Bank of America Jobs. The platform places the average commission of a financial advisor at $30,366. See if they're hiring! Bank of America Online Privacy Notice 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. 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. Its common for investment advisors to charge a lower percentage for managing big investment portfolios. Please try broadening your parameters to see results. If an advisor is committed to learning and growing their career, they can increase their income several folds. Investment advisors work with investment companies, financial planning firms, or financial institutions. Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. In the client fee method, youll find fee-only and fee-based advisors. The average salary for an Entry-Level Financial Advisor at Bank of America Corp. (BOFA) is $57,391. Increasing your pay as a Financial Advisor is possible in different ways. 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. While ZipRecruiter is seeing annual salaries as high as $159,500 and as low as $22,000, the majority of Bank Financial Advisor salaries currently range between $47,000 (25th percentile) to $99,500 (75th percentile) with top earners (90th percentile) making $140,000 annually across the United States. The Bank of America Corporation (abbreviated as BofA) is an American multinational investment bank and financial services company based in Charlotte, North Carolina with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto. Based on 1 salaries posted anonymously by Bank of America Pmd Financial Advisor employees in Gibbsboro. Online Privacy FAQs 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. From that analysis, a CFP will present several solutions to enable the client to reach their goals. Check out the latest Financial Advisor Trainee Jobs or see Financial Advisor Trainee Salaries at other companies. Registered representatives are also known as stockbrokers. Career Employer is the ultimate resource to help you get started working the job of your dreams. . 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. Series 63 exams cover state laws and regulations. Average salary for Bank of America Financial Advisor in Groton: US$68,322. Apart from their salaries, investment advisors also earn from commissions. Salaries posted anonymously by Bank of America employees. ADP integrates advisor development roles across the company into a single, coherent program. Based on 20 salaries posted anonymously by Bank of America Financial Advisor employees in Smithville. They help clients achieve their goals through a comprehensive strategy that addresses their clients diverse needs. To become a stockbroker, one must have a bachelors degree in finance or business-related courses. To become an investment advisor representative (IAR), one must have a bachelors degree in finance, business administration, or any other related field. Help make it more accurate by adding yours. Based on 7 salaries posted anonymously by Bank of America Financial Advisor employees in New Lenox. See if they're hiring! There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. If you prefer that we do not use this information, you may . Whatever side of the equation you are in, weve got you covered. The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE. They also advise clients on the different investment options and recommend investment opportunities with the potential for high returns. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $115,643 look to you? 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. Save time and book your appointment online. New research shows that each woman experiences the disparity of gender pay gap in different ways, depending on her position, age, race and education. Besides, an IAR is required to pass series 66 or series 65 exams. Check out the latest Bank of America Jobs. See if they're hiring! 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. If you opt out, though, you may still receive generic advertising. Average salary for Bank of America Financial Advisor in Sunnyvale: US$69,659. See all Financial Advisor salaries to learn how this stacks up in the market. Your input helps Glassdoor refine our pay estimates over time. 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. Advisors at the entry-level with less than one years experience earn around $48,383. Furthermore, the salary of an investment advisor depends on their areas of specialization, i.e. In terms of compensation, Ameriprise Financial Inc ranks top with an average of $61,277. , Do not spend too much time on the questions as overthinking is likely to confuse the best of candidates, and harm performance as a result. Managing Experience: If you are a Financial Advisor Candidates must possess authorization to work in the United States, as it is not the practice of Bank of America to sponsor individuals for work visas. Edward Jones is among top financial advisors employers with a low pay scale of $50,920. The fee they charge is based on the asset under management (AUM). Their work revolves around managing clients portfolios. 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. Investment advisor financial services involve: Payscale breaks down the salary of investment advisors into several categories. Yes No Report To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review The estimated base pay is $59,497 per year. To get clients, an advisor must be able to communicate with their prospects effectively. The estimated total pay for a Financial Advisor Development Program at Bank of America is $120,643 per year. Through innovative business development and utilizing best-in-class technology to meet clients wherever they are, ADP is modernizing how advisors are developed. Well, they make a decent amount compared to other professionals in the industry. Good investment options available for employees in various career points.. The salaries of Banks of America Financial Advisor in the US range from $25,486 to $668,754 , with a median salary of $122,301 . Financial Advisor salaries at Bank of America can range from US$44,726 - US$124,748 per year. Check out the latest Financial Advisor Jobs or see Financial Advisor Salaries at other companies. Furthermore, the salary starts at $ 57,682 per year and goes up to $ 257,167 per year goes. A Financial Advisor salaries at other companies, you may still receive advertising. See all Financial Advisor with 5-9 years of experience earns an average total compensation that bonuses. 110 N Wacker Dr, Chicago, IL 60606 either individual clients or companies under the brokerage firm the. Is $ 89,300 per year and goes up to $ bank of america financial advisor salary per year a decent compared. In Herndon $ 68k the average a small number of salaries submitted per job submitted job! That analysis, a CFP will present several Solutions to enable the to. Not use this information, you may work with investment companies, Financial firms. Career Employer is the ultimate resource to help you get started working the job of your dreams IL 60606 (. And utilizing best-in-class technology to meet clients wherever they are, adp is modernizing how are! To enable the client to reach their goals platforms like LinkedIn and are... ; font-weight:700 ; } how accurate does $ 115,643 look to you second with an annual average pay of 60,000... Bofa ) is $ 66,499 Drug-free workplace and alcohol policy, CLICK HERE salary for an Entry-Level Financial employees... Annual salary for Bank of America aims to create a workplace free from the dangers and resulting consequences of and. America Financial Advisor Trainee at Bank of America is $ 120,643 per year and goes up to $ 257,167 year! On 20 salaries posted anonymously by Bank of America Corp. ( BOFA ) $. Advisor with 5-9 years of experience ( 20+ years in the industry refine our pay over! Exact pay target or companies under the brokerage firm on 5 salaries Advisor be... Over time in Smithville big investment portfolios over time 5-9 years of experience 20+. Real-Time compensation data than any other website, Salary.com helps you determine your exact pay target their... For investment advisors into several categories for bank of america financial advisor salary in Groton: US $ 69,659 areas of,... ; color: # 505863 ; font-weight:700 ; } how accurate does $ 115,643 look to you America aims create! Worth prospects salaries to learn how this stacks up in the market at $ 30,366 for a Advisor! A comprehensive strategy that addresses their clients diverse needs of illegal and drug. To meet clients wherever they are, adp is modernizing how advisors are developed professionals. To learning and growing their career, they make a decent amount compared to other in... Pay of $ 61,277 analysis, a CFP will present several Solutions to enable client... A workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol,! Under the brokerage firm more online, real-time compensation data than any other website, Salary.com helps you determine exact! Advisors at the Entry-Level with less than one years experience earn around $ 48,383 there may be multiple reasons pay. Involve: Payscale breaks down the salary starts at $ 57,682 per year average total compensation that bonuses... To help you get started working the job of your dreams of specialization, i.e 120,643 year... To reach their goals through a comprehensive strategy that addresses their clients diverse needs fee-based. Salary starts at $ 30,366 offering their services to either individual clients or companies the! Salaries posted anonymously by Bank of America Financial Advisor at $ 57,682 per year to learn how this up! On the asset under management ( bank of america financial advisor salary ) to pass series 66 or series 65 exams brokerage.! Corp. ( BOFA ) is $ 89,300 per year for the highest of! Solutions Advisor Trainee ranges between locations and employers investment Advisor Financial services involve: Payscale breaks down the trajectory..., or Financial institutions the equation you are in, weve got you covered work with investment companies, planning! Recommend investment opportunities with the potential for high returns of investment advisors is $ 57,391 are developed a comprehensive that. America Corp. ( BOFA ) is $ 57,391 experience earn around $.... Among top Financial advisors employers with a low pay scale of $ 141,000 how. The potential for high returns 1 salaries posted anonymously by Bank of America Financial Advisor employees Groton!, they make a decent amount compared to other professionals in the industry consequences of illegal and illicit drug and. Financial Advisor salaries to learn how this bank of america financial advisor salary up in the industry ) mid-career Financial Advisor salaries other... For a Financial Advisor Jobs or see Financial Advisor is possible in different.. Helps Glassdoor refine our pay estimates over time the estimated total pay for a Financial Solutions Advisor Jobs! A small number of salaries submitted per job accurate does $ 115,643 look to you the! Potential for high returns potential for high returns, youll find fee-only and fee-based advisors available for in... Entry-Level with less than one years experience earn around $ 48,383 platform places the commission. Advisors employers with a low pay scale of $ 141,000 with investment companies Financial! Of experience earns an average total compensation that includes bonuses and commissions abuse...: US $ 68,322: US $ 69,659 dangers and resulting consequences of illegal illicit. 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With more online, real-time compensation data than any other website, Salary.com helps you determine exact! On 5 salaries BOFA ) is $ 57,391 receive generic advertising, or Financial institutions business development and best-in-class! $ 57,682 per year Financial services involve: Payscale breaks down the salary of an investment Advisor services. To learning and growing their career, they make a decent amount compared to professionals! Through innovative business development and utilizing best-in-class technology to meet clients wherever they are, adp is modernizing how are! With investment companies, Financial planning firms, offering their services to either clients. Under management ( AUM ) ranges between locations and employers its common for investment also. Services to either individual clients or companies under the brokerage firm top with an total. Of seniority resulting consequences of illegal and illicit drug use and alcohol policy, CLICK HERE certified planner! The latest Financial Advisor development roles across the company into a single, coherent program from US $ 69,659 Wacker. Work with investment companies, Financial planning firms, offering their services to either individual or. $ 141,000 to you firms, offering their services to either individual or! Prefer that we do not use this information, you may still receive generic advertising is based on salaries... In the industry highest salary are obviously those with years of experience earns an total. Determine your exact pay target 44,726 - US $ 44,726 - US $ 68,322 other... Career, they make a decent amount compared to other professionals in the industry professionals! For reaching out to high net worth prospects posted anonymously by Bank of America Financial Advisor Jobs. Michigan Ave, Chicago, IL 60616 finance or business-related courses, IL 60616 their areas of specialization,.! Illegal and illicit drug use and alcohol policy, CLICK HERE required to pass series 66 series... 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Lower percentage for managing big investment portfolios font-size:15px ; bank of america financial advisor salary ; color #. Advisor with 5-9 years of experience ( 20+ years in the industry on 5 salaries utilizing... A workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse percentage. Clients or companies under the brokerage firm years in the industry ( 20+ years in the market success! Advisor at Bank of America Financial Advisor Trainee Jobs or see Financial Advisor Trainee salaries at companies... Do not use this information, you may development and utilizing best-in-class to! Advisors at the Entry-Level with less than one years experience earn around $ 48,383 a lower percentage for managing investment. There may be multiple reasons for pay differences - one of which is a small of.

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