These ads are based on your specific account relationships with us. The average hourly rate for Financial Advisor Trainee in companies like Bank Of America range from $32 to $39 with the average hourly pay of $35. If an advisor is committed to learning and growing their career, they can increase their income several folds. The annual basesalary ranges from $38,000 to $110,000. Why do people leave their jobs? Or maybe you are somewhere in between, hoping to crack the million-dollar question about financial professionals salaries. Its common for investment advisors to charge a lower percentage for managing big investment portfolios. Additional pay could include bonus, stock, commission, profit sharing or tips. Investment advisor financial services involve: Payscale breaks down the salary of investment advisors into several categories. There are also bonuses depending on their general performance. Its also common to find investment advisors with a masters degree in a business-related course. 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 New research shows that each woman experiences the disparity of gender pay gap in different ways, depending on her position, age, race and education. Source: Wikipedia (as of 04/17/2019). The salary starts at $57,413 per year and goes up to $257,167 per year for the highest level of seniority. They can effectively give their clients financial analysis thats in line with the market outlook. See if they're hiring! As a part of the Big Four, it services approximately 10.73% of all American bank deposits, in direct competition with Citigroup, Wells Fargo, and JPMorgan Chase. The estimated total pay for a Financial Solutions Advisor Trainee at Bank of America is $89,300 per year. 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The estimated base pay is $59,126 per year. Remote, OR, JPMorgan Wealth Management - Private Client Investment Associate - San Diego, CA, JPMorgan Chase - The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. 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. - Work From Home, apricot Solar - Suggestion Lastly, they inquire about the clients goal. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Averages based on self-reported salaries. Related Searches:All Financial Advisor Development Program Salaries|All Bank of America Salaries. Financial professionals specializing in wealth management have different designations, including accredited portfolio management advisors, CFP certification, and CFA charter. 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. 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. We strive to provide you with information about products and services you might find interesting and useful. Related Searches:All Financial Solutions Advisor Trainee Salaries|All Bank of America Salaries. Financial Advisor salaries at Bank of America can range from $54,758-$67,819. Base Salary ( USD) 10% $50k MEDIAN $61k 90% $68k The average. 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. Financial Advisor salaries at Bank of America can range from US$44,726 - US$124,748 per year. Based on 20 salaries posted anonymously by Bank of America Financial Advisor employees in Smithville. opt out of online behavioral advertising "This program enables people from a wide range of backgrounds and experience levels to become successful advisors. Similarly, experienced advisors with 10-19 years get an average pay of $92,839. How much tax will you have to pay as a Bank Of America Financial Advisor Yes No Report 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. Apart from salary, advisors are paid commissions for investment products sold. Use our tool to get a personalized report on your market worth. Moreover, they get bonuses for hitting particular milestones. 110 N Wacker Dr, Chicago, IL 60606. Registered representatives are also known as stockbrokers. As a Financial Solutions Advisor Stage I, you can look forward to Unlimited potential for financial growth. Learn how this feature works. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. 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 . How accurate does $54,758 - $67,819 look to you? On the flip side, an entry-level advisor will most likely start at a lower scale as they learn the ropes. 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. Bank of America Online Privacy Notice Online Privacy FAQs that oversees more junior Financial Advisors, this experience can increase the likelihood to earn more. Relationship-based ads and online behavioral advertising help us do that. Based on 7 salaries posted anonymously by Bank of America Financial Advisor employees in New Lenox. Visit PayScale to research financial advisor salaries by city, experience, skill, employer and more. In addition, one must have a chartered financial analyst certification. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Some related job titles areEntry Level Financial Analyst salaries with median pay of $73,814,Financial Representative salaries with median pay of $80,604,Financial Advisor Associate salaries with median pay of $86,461,Financial Consultant salaries with median pay of $101,261. In addition, many investments advisors have additional certifications like Certified Financial Planner or Chartered Financial analyst. 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. Career Employer is the ultimate resource to help you get started working the job of your dreams. Indeed estimates that the national average salary of a certified financial planner (CFP) is $70,639. Help make it more accurate by adding yours. Advisors that work for brokerage firms, financial institutions such as banks, or investment firms are often paid a base salary. There are several designations for advisors with this qualification. 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. Based on 1 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Lake Zurich. Based on 3 salaries posted anonymously by Bank of America Financial Solutions Advisor Core Ii employees in San Luis. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review 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. Whatever side of the equation you are in, weve got you covered. Check out the latest Financial Advisor Jobs or see Financial Advisor Salaries at other companies. Your input helps Glassdoor refine our pay estimates over time. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. Theyll earn $10,000 per year, which is often paid quarterly. Bank of America Advantage Savings is the bank's main savings product. The advisors earning the highest salary are obviously those with years of experience (20+ years in the industry). To view the "EEO is the Law" poster, CLICK HERE. At the same time, Payscales average yearly income for advisors stands at $60,247. What is the average salary of Bank of America Financial Center Manager? In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. To view the "EEO is the Law" poster, CLICK HERE. Since they also earn commission and bonuses, their income is lucrative. The estimated total pay for a Financial Solutions Advisor Trainee at Bank of America is $89,612 per year. 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. These benefits might include health insurance, professional development assistance, life insurance, wellness programs, and dental insurance, among others. Median Annual Salary: $118,162 ($56.81/hour) Top 10% Annual Salary: $163,710 ($78.71/hour) Bank of America Financial Solutions Advisor Job Requirements This estimate is based upon 2 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. In ADP, you can enter the program from the beginning, or join us where your skills and experience align. 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. How Much Does a Financial Advisor Make? Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. San Diego, CA, University of California Santa Cruz - The estimated additional pay is $4,029 per month. Consider a career move to a new employer that is willing to pay higher for your skills. To view the "EEO is the Law" Supplement, CLICK HERE. careers.bankofamerica.com. Based on 3 salaries posted anonymously by Bank of America Financial Advisor employees in Willow Grove. Average salary for Bank of America Financial Advisor in Herndon: USD 69,967. In the third position, is Connecticut, with a business advisor salary averaging $137,120. Currently in a multi stage financial advisor development program at bank of america. The salary trajectory of a Financial Solutions Advisor ranges between locations and employers. The salary trajectory of a Financial Solutions Advisor ranges between locations and employers. Payscale shows that as of September 2021, financial advisors national average base salary is $60,247. Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE. View the Cost of Living in Major Cities, Browse other Companies in the Financial Services Industry. To effectively help clients, advisors interview clients to understand their financial situation. Just like any other profession, experience is vital when it comes to a financial advisors income. To get clients, an advisor must be able to communicate with their prospects effectively. The salary trajectory of a Financial Advisor Development Program ranges between locations and employers. Given the broad spectrum of CFA, the different designations offer specialized services. It equally sets them apart when it comes to reaching out to new clients. California comes second with an annual average pay of $141,000. Financial Advisor salaries at Bank of America can range from $54,972-$67,635. Apart from the base salary, an advisor may get a commission if they sell an investment product or hit a particular milestone. 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. Financial Advisor salaries at Bank of America can range from $54,586-$67,114. If professionally done, social media can be a powerful tool to draw in new clients. 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. Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. Based on 1 salaries posted anonymously by Bank of America Merrill Financial Solutions Advisor employees in Sarasota. 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. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Our local team of specialists is ready to help with advice and guidance, wherever you may be in your financial journey. Beyond the overall income, advisors have several other benefits depending on the employer. 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 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. Your input helps Glassdoor refine our pay estimates over time. Hence, cities where advisors earn the most keep changing. Equal Housing Lender. This estimate is based upon 2 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. Make my favorite Bank of America Tower Chicago. 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. See if they're hiring! | Only The Best. 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. Additional pay could include bonus, stock, commission, profit sharing or tips. Average salary for Bank of America Financial Advisor in Sunnyvale: US$69,659. Financial advisors starting salary in this profession is $69,391. The estimated additional pay is $40,539 per year. Experience as a financial advisor is mandatory. 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. 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. This estimate is based upon 14 Bank of America Financial Advisor salary report (s) provided by employees or estimated based upon statistical methods. The estimated base pay is $5,608 per month. opt out of online behavioral advertising They also get a commission for any additional products they sell. 5 Financial Planning's "Top 40 Advisors Under 40" list, January 25, 2021. Equal Housing Lender. Edward Jones is among top financial advisors employers with a low pay scale of $50,920. Salaries at Bank of America Corp. (BOFA) range from an average of $53,538 to $146,211 a year. A relationship manager helps an organization develop and maintain relationships with stakeholders and clients. Just like other professionals in the field, financial planner salary varies widely depending on experience and area of specialization. Relationship-based ads and online behavioral advertising help us do that. 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. This program enables people from a wide range of backgrounds and experience.... Click HERE 3 salaries posted anonymously by Bank of America Financial Center Manager 20 salaries posted anonymously Bank... 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From salary, advisors have several other benefits depending on their general.... 110 N Wacker Dr, Chicago, IL 60606 Supplement, CLICK HERE Manager helps an organization develop and relationships! A commission if they sell an investment product or hit a particular milestone with 10-19 years an! Get bonuses for hitting particular milestones a particular milestone your specific account with.