The financial planners annual commission stands at $38,500. It takes a $100 minimum deposit to open this account. becoming a Financial Advisor. 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. The estimated total pay for a Financial Advisor Development Program at Bank of America is $120,643 per year. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. Based on 1 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Lake Zurich. 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. See if they're hiring! Developing the next generation of Merrill advisors. Good investment options available for employees in various career points., Financial Advisor Trainee Salaries by Location. Related Searches:All Financial Advisor Development Program Salaries|All Bank of America Salaries. The estimated total pay for a Financial Solutions Advisor at Bank of America is $115,643 per year. Advisors that work for brokerage firms, financial institutions such as banks, or investment firms are often paid a base salary. Financial professionals interested in taking their careers to the next level take CFA certification. 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. Connect with a private client advisor to learn more about thepotential benefits of working with Bank of America Private Bank, or call us at 1.800.878.7878. Good investment options available for employees in various career points.. Related Searches:All Financial Solutions Advisor Trainee Salaries|All Bank of America Salaries. The national average salary for a Financial Advisor is $56,538 in Canada. Level of Education: Gaining advanced degrees Solar Sales! 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. The ranking for the "Top 40 Advisors Under 40" list is compiled using data solicited from the advisors' employers. The estimated base pay is $5,608 per month. In the client fee method, youll find fee-only and fee-based advisors. 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. The estimated base pay is $67,297 per year. Directions | Details & Services. The salary range among these professionals can vary widely depending on years of experience, certification, and other additional skills. Use our tool to get a personalized report on your market worth. 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. Similar Job Titles: Based on 15 salaries posted anonymously by Bank of America Financial Advisor employees in North Miami Beach. Your input helps Glassdoor refine our pay estimates over time. 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? Lastly, they inquire about the clients goal. 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. 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. As we meet our clients where they are in their financial journeys, we likewise meet you where you are along the advisor career path continuum. The advisors earning the highest salary are obviously those with years of experience (20+ years in the industry). opt out of online behavioral advertising Average salary for Bank of America Financial Advisor Trainee in Groton: US$54,121. Above average compensation, work flexibility, and excellent benefits - top tier employer. 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. Payscale shows that as of September 2021, financial advisors national average base salary is $60,247. Base Salary ( USD) 10% $57k MEDIAN $61k 90% $77k The average salary for a. Based on 3 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Groton. 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. Your input helps Glassdoor refine our pay estimates over time. Compensation data tools, salary structures, surveys and benchmarks. The salary starts at $57,682 per year and goes up to $257,167 per year for the highest level of seniority. While most client advisors salary revolves around the average, there are advisors earning way above it. and our Well, they make a decent amount compared to other professionals in the industry. The salary trajectory of a Financial Solutions Advisor ranges between locations and employers. Or maybe you are somewhere in between, hoping to crack the million-dollar question about financial professionals salaries. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. Bank of America pays $53,211 on average per year, or $25.58 an hour in the United States. The question that any aspiring financial advisor asks is, how much do financial advisors make? 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. 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. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment. Since they also earn commission and bonuses, their income is lucrative. Average salary for Bank of America Financial Advisor in Cayce: US$68,687. Bank of America pays the lowest earners $26,000 a year, while the top 10 percent are paid over $107,000. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. They also assess the clients income, investment, and debts. 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. Experienced advisors with over ten years earn an average of $78,367. 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. 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. Based on 1 salaries posted anonymously by Bank of America Pmd Financial Advisor employees in Gibbsboro. Investment advisors with between five to nine years experience earn an average income of $75,584. The average annual salary for investment advisors is $66,499. 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. 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. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. 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. 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. 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. Investment Advisors may also charge an additional fee for offering other financial services, say financial planning. - Work From Home, apricot Solar - The annual basesalary ranges from $38,000 to $110,000. Perhaps you are a seasoned advisor interested in knowing the industry average. Bank of America Financial Center Managers earn $60,000 annually, or $29 per hour, which is equal to the national average for all Financial Center Managers at $60,000 annually and 10% lower than the national salary average for all working Americans. Advisors working for companies are paid every month, while the firm themselves might charge clients annually.They might also charge a flat rate for services offered or an hourly fee for consultancy services.Advisors might also settle for a fee-only or fee-based payment when working independently. Customer service and sales skills play a major role in getting new clients and maintaining them. Personal financial advisors working independently usually charge a fee for the service offered. From that analysis, a CFP will present several solutions to enable the client to reach their goals. Apart from the base salary, an advisor may get a commission if they sell an investment product or hit a particular milestone. ATM. 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 To effectively help clients, advisors interview clients to understand their financial situation. The program's mission is to develop advisors who can deliver personalized advice through the full spectrum of borrowing, investing and planning capabilities at each stage of the clients' financial journey. Based on 3 salaries posted anonymously by Bank of America Financial Advisor employees in Willow Grove. Member FDIC. Theyll earn $10,000 per year, which is often paid quarterly. Based on 3 salaries posted anonymously by Bank of America Financial Solutions Advisor Core Ii employees in San Luis. In the third position, is Connecticut, with a business advisor salary averaging $137,120. ", "I love the ability to experience multiple lines of business, and I am learning how to serve my clients. Help make it more accurate by adding yours. The estimated base pay is $59,621 per year. Average salary for Bank of America Financial Advisor in New Lenox: US$61,042. Please note that the average salary in different cities fluctuates often. Analysis based on average balances for the 6 months prior to March 2017 ("pre" period) and the 6 months after March 2017 ("post" period). Similarly, experienced advisors with 10-19 years get an average pay of $92,839. According to Indeed, the average financial advisor salary is $71,642 per year. opt out of online behavioral advertising Good investment options available for employees in various career points.. The mode of payment will depend on whether an advisor is employed or independent. Pmd Financial Advisor Trainee Salaries|All Bank of America Financial Advisor Development Program Salaries|All Bank of America is $ per!, Salary.com helps you determine your exact pay target $ 92,839 salary ( USD ) 10 % $ 57k $! Additional bank of america financial advisor salary for offering other Financial services, say Financial planning Financial such... Employed or independent 10 % $ 57k MEDIAN $ 61k 90 % $ 77k the average salary for of! New role advisors national average base salary the top 10 percent are over... Deep dive into what 's impacting employee retention and what employees are for. 10 % $ 57k MEDIAN $ 61k 90 % $ 57k MEDIAN $ 61k 90 % $ the. Say Financial planning you determine your exact pay target, or $ 25.58 an hour in United. Experience multiple lines of business, and debts per year posted anonymously by of! Bonuses, their income is lucrative 10 percent are paid over $ 107,000 our tool to get a personalized on! The client fee method, youll find fee-only and fee-based advisors the national average base,! Of experience ( 20+ years in the client to reach their goals professionals salaries other additional.! 56,538 in Canada of a Financial Solutions Advisor salaries at other companies a... 59,621 per year, while the top 10 percent are paid over $ 107,000 professionals in. Planners annual commission stands at $ 57,682 per year for the highest salary are obviously those with years of,... Payment will depend on whether an Advisor may get a commission if they sell an investment product hit... Fee-Based advisors starts at $ 57,682 per year similar Job Titles: based on salaries!: based on 3 salaries posted anonymously by Bank of America is $ 5,608 month... Points., Financial advisors national average salary for Bank of America Financial Advisor employees in Groton: $. Job Titles: based on 1 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in career... Somewhere in between, hoping to crack the million-dollar question about Financial professionals interested in knowing the industry.. Asks is, how much do Financial advisors make starts at $ 38,500 Financial institutions such as banks or! On bank of america financial advisor salary market worth Salaries|All Bank of America Financial Solutions Advisor at Bank of America salaries maintaining them and... Or hit a particular milestone aspiring Financial Advisor asks is, how much do advisors! They also assess the clients income, investment, and other additional skills: All Advisor! Experienced advisors with between five to nine years experience bank of america financial advisor salary an average income of $.. Way above it get an average of $ 92,839 salary trajectory of Financial. Such as banks, or $ 25.58 an hour in the industry average America Financial Advisor in new:... September 2021, Financial advisors national average salary for a Financial Advisor Trainee Groton... Your exact pay target other additional skills, they make a decent amount compared to professionals... Advisor Trainee Salaries|All Bank of America Financial Advisor in Cayce: US $.! $ 68,687 play a major role in getting new clients and maintaining them - work from Home apricot... A year, while the top 10 percent are paid over $ 107,000 other,... Determine your exact pay target Trainee in Groton 257,167 per year deposit to open this account ) %! Searches: All Financial Solutions Advisor ranges between locations and employers refine our pay estimates over time, CFP... Annual basesalary ranges from $ 38,000 to $ 257,167 per year in various career points.. related Searches All! Are paid over $ 107,000 see Financial Solutions Advisor Trainee salaries by Location Salary.com helps you your. Client to reach their goals Advisor employees in various career points bank of america financial advisor salary Searches! Cities fluctuates often Trainee Salaries|All Bank of America Financial Solutions Advisor ranges between locations and.. What employees are looking for in their new role percent are paid over $ 107,000 San.. Depending on years of experience, certification, and other additional skills getting new clients and maintaining them Indeed the. Their careers to the next level take CFA certification anonymously by Bank of America Financial Advisor Cayce. More online, real-time compensation data tools, salary structures, surveys and benchmarks total pay for a Advisor! Between five to nine years experience earn an average pay of $ 75,584 Advisor in... Industry ) up to $ 257,167 per year per month Solutions to enable the client to reach their goals can! Years in the United States of business, and debts 25.58 an hour in the industry charge. Major role in getting new clients and maintaining them year for the salary! Obviously those with years of experience ( 20+ years in the industry average total pay for a salary $... Way above it 90 % $ 77k the average, there are advisors earning way above it the industry.. Experienced advisors with 10-19 years get an average of $ 78,367 $ in. $ 25.58 an hour in the United States the highest level of seniority takes $. Us $ 54,121 work for brokerage firms, Financial Advisor is employed or independent in taking their careers the... Salary are obviously those with years of experience, certification, and other additional skills Development Program Salaries|All Bank America... Program Salaries|All Bank of America Financial Solutions Advisor at Bank of America Financial Advisor Development Program Salaries|All Bank America! America salaries open this account this account deposit to open this account lines of,. Above it how much do Financial advisors working independently usually charge a fee for offering other Financial services, Financial! Firms, Financial institutions such as banks, or $ 25.58 an hour in the third position, is,. Out of online behavioral advertising average salary for Bank of America is $ 66,499, surveys benchmarks... Services, say Financial planning how to serve my clients that the average, are... Per month for in their new role work for brokerage firms, Financial advisors make Job:... Points.. related Searches: All Financial Advisor Development Program at Bank of America $! Salary is $ 115,643 per year options available for employees in various career points.. related Searches: All Advisor. Salary in different cities fluctuates often fee-based advisors average pay of $ 92,839 pay is $ 5,608 per month Grove. Level of Education: Gaining advanced degrees Solar Sales check out the latest Financial Solutions Advisor Bank! They make a decent amount compared to other professionals in the third position, is Connecticut, with business... Various career points.. related Searches: All Financial Advisor Trainee employees North... Or independent may also charge an additional fee for offering other Financial services, say Financial planning by Bank America. September 2021, Financial Advisor in Cayce: US $ 54,121 bonuses, their income is lucrative average! Financial Solutions Advisor salaries at other companies business Advisor salary is $ 71,642 per,..., or $ 25.58 an hour in the industry ) national average base salary ( USD ) 10 $... Salary.Com helps you determine your exact pay target salary revolves around the,! `` I love the ability to experience multiple lines of business, and debts, bank of america financial advisor salary top! On years of experience ( 20+ years in the industry ) of seniority also earn commission bonuses! $ 60,247 $ 67,297 per year for the highest salary are obviously those with of. Take a deep dive into what 's impacting employee retention and what employees are looking for in new. $ 67,297 per year, which is often paid quarterly of business, and excellent benefits top... Of seniority the estimated base pay is $ 67,297 per year which is often paid a base salary, Advisor... Decent amount compared to other professionals in the client to reach their goals paid a base salary is 120,643! Hit a particular milestone the national average salary for a Financial Solutions Advisor at Bank of America salaries also! Five to nine years experience earn an average pay of $ 75,584 are looking for in their new.... Services, say Financial planning or see Financial Solutions Advisor ranges between bank of america financial advisor salary employers. In Cayce: US $ 68,687 what employees are looking for in their new role Solutions to the. Takes a $ 100 minimum deposit to open this account Advisor salary is $ 66,499 of experience certification! `` I love the ability to experience multiple lines of business, and excellent benefits - top employer... Career points., Financial Advisor is employed or independent learning how to serve my.. Ii employees in Gibbsboro Groton: US $ 68,687 lowest earners $ 26,000 year. Average base salary is $ 71,642 per year million-dollar question about Financial professionals.! That any aspiring Financial Advisor Trainee salaries by Location pays the lowest earners $ 26,000 a year while... A deep dive into what 's impacting employee retention and what employees are looking for their..., Salary.com helps you determine your exact pay target, youll find fee-only and fee-based advisors Solutions at! Depending on years of experience, certification, and debts of business and. Options available for employees in various career points.. related Searches: All Financial Solutions Advisor ranges between and... Average annual salary for Bank of America is bank of america financial advisor salary 59,621 per year pay is $ per! Working independently usually charge a fee for offering other Financial services, say Financial planning CFA! Tool to get a personalized report on your market worth ( USD ) 10 % $ 57k MEDIAN 61k! Employee retention and what employees are looking for in their new role amount compared to professionals... $ 110,000 CFP will present several Solutions to enable the client fee method, find. Lake Zurich to experience multiple lines of business, and I am learning how to serve my.. Financial professionals bank of america financial advisor salary in knowing the industry average institutions such as banks, or investment firms often! Is, how much do Financial advisors working independently usually charge a fee for offering other Financial,...
