Wondering if anyone can offer advice to me. I am working for a big 5 bank in canada and frustrated at the low pay I am recieving. This year I will make around 65k and have been doing this for about 4 years. Eventually my book is a size where I can make 200k but seems like the road to get there is longer than promised. I am managing from 100k to 1m so unsophisticated client is the norm. What are some options I have? I wouldn’t mind doing something more analytical as I am bored in my role. The offers I have for analyst roles tend to be lower than I am currently making.
Muncher,
Does that include bonus? Surely not? What analyst roles offer less than that? With 4 years experience managing money - you would think that you would go in as a higher role with higher pay. Maybe an assistant PM or a PM at a more boutique place?
Most analyst roles for that type of work should offer more than that? Otherwise push them to pay for your MBA and come back and demand $100,000k
OP: sounds like your working as an IA (RBC DS, Woody Gundy, etc) where you manage investment portfolios and provide financial planning services. (I’m in the same role). Its not a job for everyone but if you can stick out you can do quite well (professionally and financially). There may be lots of opportunity to buy another older advisors practice at some point, or perhaps join another practice as a senior associate where you can look after your clients and assist in client servicing another advisors clients.
There may be opportunities to move within the bank, but, as you mentioned, pay can vary.