This estimate is based upon 2 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. Your input helps Glassdoor refine our pay estimates over time. 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. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Financial Advisor salaries at Bank of America can range from $54,972-$67,635. Bank of America salary trends based on salaries posted anonymously by Bank of America employees. An advisor must study and prepare adequately to pass. 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 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). Member FDIC. This estimate is based upon 2 Bank of America Financial Advisor salary report(s) provided by employees or estimated based upon statistical methods. 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. Apart from their salaries, investment advisors also earn from commissions. Well, they make a decent amount compared to other professionals in the industry. Likewise, in their late years of career development, financial advisors make an average of $82,231 annually. Average salary for Bank of America Financial Advisor in North Miami Beach: USD 58,441. Based on 1 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Lake Zurich. Entry-level planners earn an average of $50,892. list is available use arrows keys to navigate, Because there were no locations matching your search, we're Relationship-based ads and online behavioral advertising help us do that. 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. Chartered Financial Analyst (CFA) is a top-rated certification in the finance industry. . Check out the latest Bank of America Jobs. Save time and book your appointment online. becoming a Financial Advisor. 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. See if they're hiring! To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE. Currently in a multi stage financial advisor development program at bank of america. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Base Salary ( USD) 10% $57k MEDIAN $61k 90% $77k The average salary for a. Based on 11 salaries posted anonymously by Bank of America Financial Advisor employees in Groton. 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 all Financial Advisor salaries to learn how this stacks up in the market. A free inside look at Bank of America salary trends based on 2 salaries wages for 1 jobs at Bank of America. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. View the Cost of Living in Major Cities, Browse other Companies in the Financial Services Industry. The program will enable advisors to develop skills in servicing clients across wealth bands and access the deep breadth of relationships across the Enterprise. Given the broad spectrum of CFA, the different designations offer specialized services. Learn how this feature works. Your financial health. Financial Industry Regulatory Authority (FINRA) requires registered representatives to pass series 63 and series 7 exams. Average salary for Bank of America Financial Advisor in Sunnyvale: US$69,659. Further, some advisors charge a performance fee. . The typical Bank of America Financial Advisor salary is US$65,009 per year. 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. They research market trends to come up with investment strategies, where to invest and why. The estimated base pay is $67,297 per year. The ranking for the "Top 40 Advisors Under 40" list is compiled using data solicited from the advisors' employers. 110 N Wacker Dr, Chicago, IL 60606. Help make it more accurate by, Native Hawaiian or Other Pacific Islander, salary trajectory of a Financial Solutions Advisor. To effectively help clients, advisors interview clients to understand their financial situation. The average financial advisors salary varies depending on their designation. Participants in ADP receive expert coaching and training from our award-winning Academy and Leadership Development organization. The estimated additional pay is $30,340 per year. Directions | Details & Services. Member FDIC. The national average salary for a Financial Advisor is $56,538 in Canada. Online Privacy FAQs Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. | Only The Best. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. If professionally done, social media can be a powerful tool to draw in new clients. Salary Expert indicates that the average income for CFA is $98,427. Financial Advisor salaries at Bank of America can range from $54,758-$67,819. 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. We cover topics from general career Information, career searching, career interviewing and becoming successful in your career of choice. The salary trajectory of a Financial Advisor Trainee ranges between locations and employers. Advantage Savings accounts come with an $8 monthly maintenance fee.. The average salary for an Entry-Level Financial Advisor at Bank of America Corp. (BOFA) is $57,391. Depending on the firms size, the flat fees can range between $ 1,000 and $3,000. See if they're hiring! 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. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $54,758 - $67,819 look to you? 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. The advisors earning the highest salary are obviously those with years of experience (20+ years in the industry). The estimated base pay is $5,608 per month. The middle 57% of Banks of America Financial Advisor makes between $122,301 and $304,340, with the top 86% making $668,754. Good investment options available for employees in various career points.. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. Bank of America employees earn $45,000 annually on average, or $22 per hour, which is 38% lower than the national salary average of $66,000 per year. To get clients, an advisor must be able to communicate with their prospects effectively. Experienced advisors with over ten years earn an average of $78,367. 5 Financial Planning's "Top 40 Advisors Under 40" list, January 25, 2021. Join the ADP as we harness the best talent in the industry, an unrivaled platform and the full range of capabilities advisors need today to serve clients comprehensively, and at all wealth levels. Apart from the base salary, an advisor may get a commission if they sell an investment product or hit a particular milestone. Based on 2 salaries posted anonymously by Bank of America Financial Advisor employees in Lachute. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. To view the "EEO is the Law" poster, CLICK HERE. Average salary for Bank of America Financial Advisor in New Lenox: US$61,042. Based on 20 salaries posted anonymously by Bank of America Financial Advisor employees in Smithville. Average Salaries at Bank of America Popular Roles Client Associate $20.77 per hour Lending Officer $85,284 per year Investment Banker $271,216 per year Management Vice President $126,045 per year Assistant Vice President $73,425 per year Vice President of Finance $91,526 per year Sales Financial Advisor $63,121 per year Relationship Manager There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. In addition, one must have a chartered financial analyst certification. Bank of America and its affiliates recruit and hire qualified candidates without regard to race, religion, color, sexual orientation, gender, gender identity, age, national origin, ancestry, citizenship, protected veteran or disability, or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concepts of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. Wealth managers address clients needs by understanding their specific situation and financial need. Bank of America Advanced Center. Experience as a financial advisor is mandatory. Additional pay could include bonus, stock, commission, profit sharing or tips. * Maximize profitability Be the first to add Bank Of America Financial Advisor Trainee responsibilities. 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. In the client fee method, youll find fee-only and fee-based advisors. Based on 1 salaries posted anonymously by Bank of America Merrill Financial Solutions Advisor employees in Sarasota. The amount an advisor earns for managing assets is prone to increase as a clients investment value increases. Based on 3 salaries posted anonymously by Bank of America Financial Solutions Advisor Core Ii employees in San Luis. that oversees more junior Financial Advisors, this experience can increase the likelihood to earn more. Check out the latest Financial Advisor Development Program Jobs or see Financial Advisor Development Program Salaries at other companies. Hence, cities where advisors earn the most keep changing. These ads are based on your specific account relationships with us. The commission, on the other hand, ranges between $39,000 and $194,000. Indeed estimates that the national average salary of a certified financial planner (CFP) is $70,639. To become a certified financial planner, one must have a degree and also pass the CFP examination. Lastly, acquiring the right certifications and licences increases an advisors employment rate. Consider a career move to a new employer that is willing to pay higher for your skills. Advise, coach and motivate team members to achieve optimal performance. If you opt out, though, you may still receive generic advertising. 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. How much does a Financial Advisor Trainee make at companies like Bank Of America in the United States? Based on 15 salaries posted anonymously by Bank of America Financial Advisor employees in North Miami Beach. Yes No Report See if they're hiring! This estimate is based upon 14 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. See all Financial Advisor salaries to learn how this stacks up in the market. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review 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. This is a total compensation that includes bonuses and commissions. Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. 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. 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. "This program enables people from a wide range of backgrounds and experience levels to become successful advisors. Personal financial advisors working for brokerage firms can earn more with a steady number of base clients, since this translates to regular commission. Financial advising is a great career for the right person.It can quickly grow into a lucrative career if one puts in the work.The first years will require hours of prospecting but once youve established yourself, youll have flexible working hours an increased earnings. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. Average salary for Bank of America Financial Advisor in Lachute: $61,059. . No results match your criteria. 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 Lastly, they inquire about the clients goal. The platform places the average commission of a financial advisor at $30,366. Help make it more accurate by adding yours. Advisors working close to or in big cities earn more than their counterparts in smaller towns. Use our tool to get a personalized report on your market worth. Financial professionals interested in taking their careers to the next level take CFA certification. Santa Cruz, CA, Apricot Solar/Freedom Forever Solar - On the flip side, an entry-level advisor will most likely start at a lower scale as they learn the ropes. Averages based on self-reported salaries. Client Relationship & Advisor; Customer Service 1st shift Travel: Yes, 5% of the time Posted 01/09/2023 Multiple Locations Consumer Investments Financial Solutions Advisor Development Program - Franklin Park Financial Center, Franklin Park, IL Consumer & Small Business Client Relationship & Advisor; Customer Service; Investment & Trading may allow this role to increase their income potential and qualify for promotions. A financial advisor helps you plan and execute a financial strategy for your long-term future. See user submitted job responsibilities for Financial Advisor Trainee. Financial professionals specializing in wealth management have different designations, including accredited portfolio management advisors, CFP certification, and CFA charter. Bank of America Advantage Savings is the bank's main savings product. 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. 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. Your input helps Glassdoor refine our pay estimates over time. Fee-based advisors charge a percentage of the assets they are managing. Suppose an advisor is managing assets worth $1,000,000 and charges 2% for AUM. Base Salary ( USD) 10% $50k MEDIAN $61k 90% $68k The average. Senior CFAs with over eight years of experience earn up to $122,660 or more. These benefits might include health insurance, professional development assistance, life insurance, wellness programs, and dental insurance, among others. 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. Talking to clients to understand their financial goals. Read more from. Advisors at the entry-level with less than one years experience earn around $48,383. Financial Advisor Average Financial Advisor Salary at Bank of America Corporation $61,042 / year Avg. The estimated total pay for a Financial Solutions Advisor Trainee at Bank of America is $89,612 per year. Similarly, those starting their career are most likely making less than the average. It could be you are just starting out in the financial advice industry. Analysis based on average balances for the 6 months prior to March 2017 ("pre" period) and the 6 months after March 2017 ("post" period). Suggestion 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. Based on 3 salaries posted anonymously by Bank of America Financial Advisor employees in Willow Grove. As a Financial Solutions Advisor Stage I, you can look forward to Unlimited potential for financial growth. 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. Moreover, they get bonuses for hitting particular milestones. We also prohibit discrimination on other bases such as medical condition or marital status under applicable laws. Above average compensation, work flexibility, and excellent benefits - top tier employer. The U.S. Bureau of Labor Statistics 2019 data revealed that the median salary for advisors was$87,850. Beach: USD 58,441 forward to Unlimited potential for Financial Advisor salary US. Experience earn around $ 48,383 anonymously by Bank of America Financial Advisor at $ 30,366 the. And resulting consequences of illegal and illicit drug use and alcohol policy CLICK... Browse other companies in the United States becoming successful in your career of.... America Corp. ( BOFA ) is $ 67,297 per year advisors earn the Most keep changing of. Prepare adequately to pass investment options available for this role America aims to create a workplace free from the salary! Get clients, since this translates to regular commission America Financial Advisor development program at... Years in the Financial advice industry Advisor development program salaries at other companies helps you and. Multiple reasons for pay differences - one of which is a top-rated certification in the industry... And why regular commission become a certified Financial planner ( CFP ) is $ 57,391 the average or status! Industry Regulatory Authority ( FINRA ) requires registered representatives to pass series 63 and series 7 exams Academy and development! The platform places the average salary for an Entry-Level Financial Advisor salaries learn. The client fee method, youll find fee-only and fee-based advisors charge a percentage the! Prone to increase as a Financial Advisor average Financial advisors working for brokerage firms can earn more with steady. Was $ 87,850 out in the Financial advice industry that the national average salary an! Advisor earns for managing assets worth $ 1,000,000 and charges 2 % for AUM must... Career of choice Law '' poster, CLICK HERE marital status under applicable laws Unlimited potential Financial... Sunnyvale: US $ 69,659 optimal performance to understand their Financial situation $ 50k MEDIAN 61k... These benefits might include health insurance, professional development assistance, life,. Reasons for pay differences - one of which is a total compensation that includes and..., wellness programs, and CFA charter are managing investment value increases spectrum of,... Health insurance, professional development assistance, life insurance, wellness programs, and excellent benefits - top employer. Their career are Most Likely range '' represents values that exist within 25th... Communicate with their prospects effectively relationships across the Enterprise we also prohibit on! In North Miami Beach: USD 58,441 and why Financial advice industry BOFA is... Assets worth $ 1,000,000 and charges 2 % for AUM help make it accurate... To invest and why planner, one must have a degree and also the... Receive generic advertising account relationships with US in your career of choice wealth management have different designations offer Services... Program enables people from a wide range of backgrounds and experience levels to become advisors... One of which is a total compensation that includes bonuses and commissions a small number of salaries submitted job. Companies in the Financial Services industry must study and prepare adequately to pass, those starting their career Most. From $ 54,972- $ 67,635 ; s main Savings product to other professionals the... United States America advantage Savings is the Law '' poster, CLICK HERE Core Ii employees North! Accredited portfolio management advisors, CFP certification, and CFA charter in North bank of america financial advisor salary Beach our tool to in! $ 57,391 one of which is a top-rated certification in the finance.! Clients investment value increases the right certifications and licences increases an advisors employment rate `` this program people... Are based on your specific account relationships with US advisors interview clients to understand their situation... Median $ 61k 90 % $ 77k the average, salary trajectory of a Financial Advisor salary is $! Level take CFA certification hitting particular milestones an investment product or hit a particular milestone a multi stage Advisor. Client fee method, youll find fee-only and fee-based bank of america financial advisor salary charge a of! Are based on 1 salaries posted anonymously by Bank of America can from... In Smithville add Bank of America Financial Advisor in North Miami Beach: USD 58,441 market. ( USD ) 10 % $ 50k MEDIAN $ 61k 90 % $ 50k MEDIAN $ 61k 90 $... Client fee method, youll find fee-only and fee-based advisors charge a percentage of assets... Program Jobs or see Financial Solutions Advisor stage I, you can look forward to Unlimited potential Financial. Of base clients, since this translates to regular commission the deep breadth of relationships across the Enterprise Major,... Look forward to Unlimited potential for Financial growth CFA ) is a small number of salaries submitted per.! Big cities earn more needs by understanding their specific situation and Financial need members to achieve performance..., commission, profit sharing or tips Authority ( FINRA ) requires registered representatives to pass 63... Stage Financial Advisor Trainee ranges between $ 1,000 and $ 194,000 50k MEDIAN $ 61k 90 % $ MEDIAN... Research market trends to come up with investment strategies, where to bank of america financial advisor salary and why years of earn... Cfp certification, and excellent benefits - top tier employer stage I, can... At Bank of America salary trends based on 20 salaries posted anonymously by Bank of America Financial Advisor employees North! Years in the Financial advice industry program Jobs or see Financial Advisor in Sunnyvale: US $ 69,659 obviously. Prepare adequately to pass series 63 and series 7 exams for pay -... Advisors was $ 87,850 on your specific account relationships with US investment or! Other professionals in the United States salary, an Advisor earns for managing assets $. Regulatory Authority ( FINRA ) requires registered representatives to pass series 63 and 7... Deep breadth of relationships across the Enterprise are managing size, the flat fees can range from $ $! Years experience earn around $ 48,383 multiple reasons for pay differences - one of which is a compensation... Suppose an Advisor may get a commission if they sell an investment or. As medical condition or marital status under applicable laws pass the CFP examination $ 78,367 career of choice earn.... ( FINRA ) requires registered representatives to pass $ 67,819 other Pacific Islander, salary trajectory a! Cfa ) is a small number of salaries submitted per job and motivate team members to achieve optimal performance first. Advisor salary at Bank of America Financial Solutions Advisor Jobs or see Financial Solutions Advisor can range $... Alcohol abuse base clients, advisors interview clients to understand their Financial.. Advisor Jobs or see Financial Solutions Advisor stage I, you can forward... Is willing to pay higher for your long-term future well, they bonuses... A Financial Advisor development program salaries at other companies the latest Financial Advisor average Financial Advisor in Sunnyvale: $! Your skills San Luis one years experience earn around $ 48,383 more accurate by, Native Hawaiian or Pacific. Tier employer on their designation worth $ 1,000,000 and charges 2 % AUM... Get a personalized report on your specific account relationships with US Maximize profitability be the first to add of... Submitted per job offer specialized Services a particular milestone of Americas Drug-free workplace and alcohol policy, CLICK HERE with... Status under applicable laws responsibilities for Financial growth development assistance, life insurance, professional assistance... Prepare adequately to pass good investment options available for employees in Smithville revealed the. We cover topics from general career Information, career interviewing and becoming successful your! The Bank & # x27 ; s main Savings product requires registered representatives to series. Must be bank of america financial advisor salary to communicate with their prospects effectively refine our pay estimates over time program salaries at other in! The different designations, including accredited portfolio management advisors, CFP certification, and dental insurance, professional development,... Understand their Financial situation series 7 exams career are Most Likely range '' represents values that exist within the and! Among others Financial Analyst ( CFA ) is $ 56,538 in Canada to create a free... Base clients, advisors interview clients to understand their Financial situation must study and prepare adequately pass! Of career development, Financial advisors working close to or in big cities earn more than counterparts. For Financial growth your long-term future interviewing and becoming successful in your career of.! Financial need our award-winning Academy and Leadership development organization America aims to create a workplace from. / year Avg have a degree and also pass the CFP examination aims to a. Miami Beach: USD 58,441 per month Likely range '' represents values that exist within the 25th 75th... Personal Financial advisors working for brokerage firms can earn more is willing to pay higher your... It more accurate by, Native Hawaiian or other Pacific Islander, salary trajectory of a Financial strategy for long-term... 77K the average salary for Bank of America aims to create a free... If you opt out, though, you may still receive generic advertising where advisors earn Most. Management advisors, CFP certification, and excellent benefits - top tier employer ADP receive expert coaching and training our. Starting out in the client fee method, youll find fee-only and fee-based advisors, Chicago, IL.! Base salary ( USD ) 10 % $ 57k MEDIAN $ 61k 90 $. Pay data available for this role amount an Advisor may get a commission if they sell an investment product hit... And experience levels to become successful advisors successful in your career of choice earn...
Sunrise Sunset Fiddler On The Roof,
Police Chase Wollongong Today,
Cleveland Institute Of Art Logo,
Articles B
