bank of america financial advisor salary

On the flip side, an entry-level advisor will most likely start at a lower scale as they learn the ropes. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Some firms charge a flat fee for their additional services. The state and city an advisor live in equally affect their annual wage. To view the "EEO is the Law" poster, CLICK HERE. Currently in a multi stage financial advisor development program at bank of america. According to our data, the highest paying job at Bank of America is a Performance Coach at $17,992,000 annually while the lowest paying job at Bank of America is a Reviewer at $16,000 annually. 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. At the same time, Payscales average yearly income for advisors stands at $60,247. We strive to provide you with information about products and services you might find interesting and useful. Clients tell us that the delivery of personalized advice across our companys full spectrum of banking, lending, investing and planning capabilities is what they need from a Financial Advisor. Based on 1 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Lake Zurich. Payscale estimates that the salary of CFA is between $64,234 and $255,000. To become a stockbroker, one must have a bachelors degree in finance or business-related courses. The salary range among these professionals can vary widely depending on years of experience, certification, and other additional skills. Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. Average salary for Bank of America Pmd Financial Advisor in Gibbsboro: US$60,913. Bank of America pays $53,211 on average per year, or $25.58 an hour in the United States. 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. Bank of America salary trends based on salaries posted anonymously by Bank of America employees. In addition, many investments advisors have additional certifications like Certified Financial Planner or Chartered Financial analyst. The ranking for the "Top 40 Advisors Under 40" list is compiled using data solicited from the advisors' employers. - Highest Paying in the USA! 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. Your input helps Glassdoor refine our pay estimates over time. Series 7 exams are for beginners getting into the industry. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $89,612 look to you? The Bank of America Financial Advisor Program is an 18- month program. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. With that said, here is how the different payment models work. 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. Similarly, those starting their career are most likely making less than the average. Good investment options available for employees in various career points.. However if they don't charge that way, then they cold still be fiduciaries but it is unlikely. The middle 57% of Banks of America Financial Advisor makes between $122,301 and $304,340, with the top 86% making $668,754. Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. Payscale shows that as of September 2021, financial advisors national average base salary is $60,247. In summary, financial advisor salary is not set in stone. Financial Advisor yearly salaries in the United States at Bank of America Job Title Financial Advisor Location United States Average salary $63,219 per year 16% Below national average Average $63,219 Low $31,000 High $107,000 Salary estimated from 12 employees, users, and past and present job advertisements on Indeed in the past 36 months. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. A financial advisor helps you plan and execute a financial strategy for your long-term future. 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. Similarly, experienced advisors with 10-19 years get an average pay of $92,839. ATM. Average salary for Bank of America Financial Solutions Advisor Core Ii in San Luis: US$49,793. Advisors with this job title specialize in stocks and securities. Since they also earn commission and bonuses, their income is lucrative. Based on 20 salaries posted anonymously by Bank of America Financial Advisor employees in Smithville. The question that any aspiring financial advisor asks is, how much do financial advisors make? 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. What your skills are worth in the job market is constantly changing. 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. Additional pay could include bonus, stock, commission, profit sharing or tips. "This program enables people from a wide range of backgrounds and experience levels to become successful advisors. Bank of America Advanced Center. Investment advisors work with investment companies, financial planning firms, or financial institutions. 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. 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. Financial planners with over 20 years of experience get a total compensation of about $134k. 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. Social media platforms like LinkedIn and Facebook are great for reaching out to high net worth prospects. The estimated total pay for a Financial Advisor Trainee at Bank of America is $89,623 per year. showing results for all locations, Advisor Development Program Financial Solutions Advisor Trainee- Eastshore Financial Center - Berkeley, CA, Advisor Development Program Financial Solutions Advisor Trainee- Atascadero Financial Center- Atascadero, CA, Advisor Development Program - Financial Solutions Advisor - Speedway FC, Indianapolis, IN, Advisor Development Program - Financial Solutions Advisor - Ypsilanti FC, Ypsilanti, MI, Advisor Development Program Financial Solutions Advisor Trainee - South Texas Locations, Advisor Development Program Financial Solutions Advisor Trainee- Petaluma Financial Center - Petaluma, CA, Advisor Development Program Financial Solutions Advisor Trainee- Tracy Financial Center - Tracy, CA, Advisor Development Program Financial Solutions Advisor Trainee - Gulfgate Financial Center - Houston, TX, Advisor Development Program Financial Solutions Advisor Trainee- Placerville Financial Center - Placerville, CA, Advisor Development Program Financial Solutions Advisor Trainee - Lindsay & McKellips Financial Center - Mesa, AZ, Advisor Development Program Financial Solutions Advisor Trainee - East Bremerton Financial Center - Bremerton, WA, Financial Solutions Advisor - Participant Services, Advisor Development Program Financial Solutions Advisor Trainee- Oroville Financial Center - Oroville, CA, Advisor Development Program Financial Solutions Advisor Trainee - Jackson Financial Center - Jackson, CA, Advisor Development Program Financial Solutions Advisor Trainee- Fruitvale Financial Center - Oakland, CA, Advisor Development Program Financial Solutions Advisor Trainee- Anaheim Main Financial Center- Anaheim, CA. Senior CFAs with over eight years of experience earn up to $122,660 or more. 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 . Besides, an IAR is required to pass series 66 or series 65 exams. The salary trajectory of a Financial Solutions Advisor ranges between locations and employers. Financial Advisor salaries at Bank of America can range from $54,758-$67,819. 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. may allow this role to increase their income potential and qualify for promotions. See if they're hiring! Based on 3 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Groton. The estimated base pay is $5,608 per month. Hence, cities where advisors earn the most keep changing. The estimated base pay is $59,126 per year. Check out the latest Bank of America Jobs. Analysis based on average balances for the 6 months prior to March 2017 ("pre" period) and the 6 months after March 2017 ("post" period). Bank of America employees in different jobs earn different salaries. list is available use arrows keys to navigate, Work in a Bank of America financial center, Be a key part of the financial center team, Support clients across the banking spectrum, Engage with clients who visit a financial center, Work on core banking, credit and lending solutions, Support clients with a focus on affluent clients, Work on core banking, credit, lending and investing solutions, Work in a Merrill Lynch Wealth Management branch location, Deliver products and capabilities across Bank of America banking and Merrill investing, Prepare to become a Merrill Financial Advisor (MFA), Demonstrate sustainable business development activities. 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. To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE. Shaniko, OR. A financial advisor earning power is limitless. 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. The amount an advisor earns for managing assets is prone to increase as a clients investment value increases. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review 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. Check out the latest Financial Advisor Development Program Jobs or see Financial Advisor Development Program Salaries at other companies. Overall, stockbrokers earn between $61,084 and 74,140 per year. Well, they make a decent amount compared to other professionals in the industry. Salary Expert indicates that the average income for CFA is $98,427. The estimated base pay is $59,497 per year. . They also get bonuses for bringing in new clients. 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. 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. We also prohibit discrimination on other bases such as medical condition or marital status under applicable laws. They also get a commission for any additional products they sell. Source: Wikipedia (as of 04/17/2019). Step-By-Step Pay Equity Analysis Guide Product Guide By clicking Download Product Guide, Do you know what your employees really want for the holidays? Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. Finding your . Our priority. Make my favorite 23rd & Michigan. To view the "EEO is the Law" Supplement, CLICK HERE. Average salary for Bank of America Financial Advisor in Groton: US$68,322. New research shows that each woman experiences the disparity of gender pay gap in different ways, depending on her position, age, race and education. careers.bankofamerica.com. Learn how this feature works. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $120,643 look to you? Bank of America Private Client Advisors earn $161,000 annually, or $77 per hour, which is 90% higher than the national average for all Private Client Advisors at $61,000 annually and 84% higher than the national salary average for all working Americans. CFPs work with clients with a wide range of needs. 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. Member FDIC. The estimated additional pay is $30,340 per year. Relationship-based ads and online behavioral advertising help us do that. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-US","id": "div-AdSlot-ld1vuscj", "fluid": true }, All Financial Solutions Advisor Trainee Salaries, Financial Solutions Advisor Trainee Career, average salary for a Financial Solutions Advisor Trainee is $56,913 per year in United States, salary trajectory of a Financial Solutions Advisor Trainee, Financial Solutions Advisor Trainee Salaries. 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. Wealth management specialists offer specialized financial services to affluent clients. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. Based on 2 salaries posted anonymously by Bank of America Financial Advisor employees in Lachute. Check out the latest Bank of America Jobs. The estimated base pay is $67,297 per year. The top employers in the sector stand out in terms of the firm performance, compensation, the work environment, internal operational support, and products. The stages participants will travel through on their path to success. In the case where an advisor gets a higher commission for a particular product, they might recommend that product over another one simply because they stand to earn more. Average salary for Bank of America Financial Advisor in New Lenox: US$61,042. The estimated base pay is $80,104 per year. Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. Stocks and securities pay estimates over time that way, then they cold still be fiduciaries but it is.. Anonymously by Bank of America Financial Advisor program is an 18- month program constantly changing clients! Their additional services products they sell $ 25.58 an hour in the job market is constantly changing said, is! Salary of CFA is between $ 64,234 and $ 255,000 as a investment. 7 exams are for beginners getting into the industry is required to pass series 66 or series 65.! 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