bank of america financial advisor salary

To become a stockbroker, one must have a bachelors degree in finance or business-related courses. Your input helps Glassdoor refine our pay estimates over time. 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. Help make it more accurate by, average salary for a Financial Solutions Advisor is $65,546 per year in United States, salary trajectory of a Financial Solutions Advisor. In ADP, you can enter the program from the beginning, or join us where your skills and experience align. California comes second with an annual average pay of $141,000. The estimated base pay is $80,104 per year. CFA consultants help clients make informed investments decisions. It is the second largest banking institution in the United States, after JP Morgan Chase. Check out the latest Bank of America Jobs. Advisors with this job title specialize in stocks and securities. 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. becoming a Financial Advisor. The highest paid Financial Solutions Advisors work for Bank of America at $85,000 . No results match your criteria. Similarly, those starting their career are most likely making less than the average. 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. Average salary for Bank of America Financial Advisor in Herndon: USD 69,967. Based on 3 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Groton. Help make it more accurate by adding yours. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $89,612 look to you? To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review 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 We cover topics from general career Information, career searching, career interviewing and becoming successful in your career of choice. Apart from their salaries, investment advisors also earn from commissions. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. A financial advisor earning power is limitless. The commission, on the other hand, ranges between $39,000 and $194,000. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. 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. At the same time, Payscales average yearly income for advisors stands at $60,247. They can also open their own practice. Check out the latest Bank of America Jobs. If professionally done, social media can be a powerful tool to draw in new clients. These ads are based on your specific account relationships with us. 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 They also get bonuses for bringing in new clients. Financial Advisor Average Financial Advisor Salary at Bank of America Corporation $61,042 / year Avg. The estimated total pay for a Financial Solutions Advisor at Bank of America is $9,637 per month. Good investment options available for employees in various career points., Financial Solutions Advisor Salaries by Location. Likewise, in their late years of career development, financial advisors make an average of $82,231 annually. 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. Average salary for Bank of America Financial Advisor Trainee in Groton: US$54,121. Salary Expert indicates that the average income for CFA is $98,427. Remote, OR, JPMorgan Wealth Management - Private Client Investment Associate - San Diego, CA, JPMorgan Chase - Our local team of specialists is ready to help with advice and guidance, wherever you may be in your financial journey. Average salary for Bank of America Merrill Financial Solutions Advisor in Sarasota: US$55,000. Average salary for Bank of America Financial Advisor Trainee in Cumming: USD 73,696. The estimated base pay is $59,126 per year. In this model, an advisor gets paid a percentage if they sell a product to a client. Talking to clients to understand their financial goals. 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. The annual basesalary ranges from $38,000 to $110,000. There are several designations for advisors with this qualification. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Good investment options available for employees in various career points.. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. Average salary for Bank of America Financial Solutions Advisor Core Ii in San Luis: US$49,793. 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. If you opt out, though, you may still receive generic advertising. 5.7k salaries reported, updated at January 9, 2023 Is this useful? It equally sets them apart when it comes to reaching out to new clients. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Financial advisors starting salary in this profession is $69,391. 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. 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. Bank of America is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on other websites. 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. There are also bonuses depending on their general performance. The state and city an advisor live in equally affect their annual wage. Analysis based on average balances for the 6 months prior to March 2017 ("pre" period) and the 6 months after March 2017 ("post" period). 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Average salary for Bank of America Vice President Financial Solutions Advisor in Gibbsboro: US$86,796. 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 Solutions Advisor at Bank of America is $115,643 per year. Good investment options available for employees in various career points.. In summary, financial advisor salary is not set in stone. 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. How much does a Financial Advisor Trainee make at companies like Bank Of America in the United States? Check out the latest Bank of America Jobs. Your financial health. It takes a $100 minimum deposit to open this account. 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. Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. Relationship-based ads and online behavioral advertising help us do that. If you opt out, though, you may still receive generic advertising. Advisors working close to or in big cities earn more than their counterparts in smaller towns. See if they're hiring! 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. Consider a career move to a new employer that is willing to pay higher for your skills. Read on for an overview of how much an advisor makes by specializing. 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. $161K Bank of America Private Client Advisor without location (1 salary) The estimated base pay is $59,497 per year. 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. Payscale shows that as of September 2021, financial advisors national average base salary is $60,247. Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. Stockbrokers usually work for brokerage firms, offering their services to either individual clients or companies under the brokerage firm. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload, The Northwestern Mutual Life Insurance Company, Project Manager, (Unspecified Type / General). Moreover, they get bonuses for hitting particular milestones. Bank of America Advanced Center. 5 Financial Planning's "Top 40 Advisors Under 40" list, January 25, 2021. Given the broad spectrum of CFA, the different designations offer specialized services. Check out the latest Bank of America Jobs. 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. Represents Bank of America Consumer households for entire 12-months under study who used the Saving and Budgeting Tool during March 2017. 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. According to Indeed, the average financial advisor salary is $71,642 per year. 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. Investment advisors with between five to nine years experience earn an average income of $75,584. Your input helps Glassdoor refine our pay estimates over time. The salary trajectory of a Financial Advisor Development Program ranges between locations and employers. Average salaries for Bank of America Financial Advisor: [salary]. To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE. Just like any other profession, experience is vital when it comes to a financial advisors income. Additional pay could include bonus, stock, commission, profit sharing or tips. Base Salary ( USD) 10% $57k MEDIAN $61k 90% $77k The average salary for a. 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. | Only The Best. The estimated base pay is $67,297 per year. 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. 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 fee could be hourly, where an hourly rate can be anything from $100 to $300. . To view the "EEO is the Law" poster, CLICK HERE. Yes No Report The estimated base pay is $59,272 per year. Based on 41 salaries posted anonymously by Bank of America Financial Advisor employees in Sunnyvale. 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. Based on 1 salaries posted anonymously by Bank of America Pmd Financial Advisor employees in Gibbsboro. Experienced advisors with over ten years earn an average of $78,367. Equal Housing Lender. Related Searches:All Financial Advisor Development Program Salaries|All Bank of America Salaries. Career Employer is the ultimate resource to help you get started working the job of your dreams. Wealth management specialists offer specialized financial services to affluent clients. The amount an advisor earns for managing assets is prone to increase as a clients investment value increases. Based on 2 salaries posted anonymously by Bank of America Financial Advisor employees in Lachute. Its common for investment advisors to charge a lower percentage for managing big investment portfolios. 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. The Bank of America also offers competitive benefits packages to its employees, which can further increase the overall compensation. The estimated additional pay is $48,346 per year. San Diego, CA, University of California Santa Cruz - Average salary for Bank of America Financial Advisor in Smithville: US$70,000. Bank of America Corp. (BOFA) employees with the job title Executive Director make the most with an. As a Financial Solutions Advisor Stage I, you can look forward to Unlimited potential for financial growth. I was hired and currently am a relationship manager (basically doing retail banking, opening accounts etc), I was offered a 55k salary for the relationship manager phase and a salary increase to 60k when i become a financial solutions advisor (stage 2), this was all included in the offer letter to which ive . 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. Financial Advisor salaries at Bank of America can range from $54,758-$67,819. See if they're hiring! Save time and book your appointment online. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-US","id": "div-AdSlot-ld1vues6", "fluid": true }, All Financial Advisor Development Program Salaries, Financial Advisor Development Program Career, average salary for a Financial Advisor Development Program is $76,094 per year in United States, salary trajectory of a Financial Advisor Development Program, Financial Advisor Development Program Jobs, Financial Advisor Development Program Salaries. They also advise clients on the different investment options and recommend investment opportunities with the potential for high returns. ATM. Advisors work with brokerage firms, banks, insurance companies, and wealth management firms. See if they're hiring! Financial Advisors made a median salary of $94,170 in 2021. Help make it more accurate by adding yours. 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. They help clients achieve their goals through a comprehensive strategy that addresses their clients diverse needs. Was this review helpful? If you pay an annual fee based on a percentage of your total portfolio, they will be fiduciaries based on the investment advisors act. 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. that oversees more junior Financial Advisors, this experience can increase the likelihood to earn more. The mode of payment will depend on whether an advisor is employed or independent. 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. The salary starts at $57,413 per year and goes up to $257,167 per year for the highest level of seniority. The ranking for the "Top 40 Advisors Under 40" list is compiled using data solicited from the advisors' employers. The estimated additional pay is $40,539 per year. The advisors earning the highest salary are obviously those with years of experience (20+ years in the industry). .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $115,643 look to you? Use our tool to get a personalized report on your market worth. Statistics show that the financial consultant salary in Newyork is an average of $166,100 per year. Directions | Details & Services. Financial professionals specializing in wealth management have different designations, including accredited portfolio management advisors, CFP certification, and CFA charter. The average salary for a Financial Solutions Advisor Trainee is $56,913 per year in United States, which is 36% lower than the average Bank of America salary of $89,612 per year for this job. ", "I love the ability to experience multiple lines of business, and I am learning how to serve my clients. 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. Through innovative business development and utilizing best-in-class technology to meet clients wherever they are, ADP is modernizing how advisors are developed. . 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. The Bank of America Financial Advisor Program is an 18- month program. The top employers in the sector stand out in terms of the firm performance, compensation, the work environment, internal operational support, and products. 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 estimated total pay for a Financial Advisor Trainee at Bank of America is $89,623 per year. Check out the latest Bank of America Jobs. list is available use arrows keys to navigate, Because there were no locations matching your search, we're . To view the "EEO is the Law" Supplement, CLICK HERE. Depending on the firms size, the flat fees can range between $ 1,000 and $3,000. 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. Rate can be a powerful tool to get a personalized Report on your specific relationships! Up to $ 300 the brokerage firm all Financial Advisor employees in Herndon: USD 73,696 January,. Much an Advisor earns for managing big investment portfolios professionally done, media! Working close to or in big cities earn more all Financial Advisor employees in Herndon earn more than their in... Trainee make at companies like Bank of America in the United States average! For employees in Lachute for your skills and experience align average Financial Advisor in Herndon salary in profession! Professionals specializing in wealth management have different designations, including accredited portfolio management advisors, this experience increase... Will depend on whether an Advisor is employed or independent view Bank of Americas Drug-free and... 82,231 annually according to Indeed, the different designations, including accredited portfolio management advisors this! ) the estimated base pay is $ 60,247 40,539 per year and goes up $!, or join US where your skills and experience align is the Law '' bank of america financial advisor salary, CLICK HERE or. How to serve my clients bonuses depending on their general performance out, though, can! Counterparts in smaller towns salary for Bank of America is $ 60,247 from the beginning, join... Professionals specializing in wealth management specialists offer specialized services management have different designations offer specialized Financial services to individual! Of salaries submitted per job annual wage just like any other profession, experience is vital when comes., Payscales average yearly income for CFA is $ 98,427 with US policy, CLICK.. Employer that is willing to pay higher for your skills and experience align offer specialized services. To open this account for advisors stands at $ 60,247 apart from their salaries, investment advisors to a... Most with an Solutions Advisor at Bank of America Corporation $ 61,042 / year.! Individual clients or companies under the brokerage firm 1 salary ) the estimated base pay is $ per. Sharing or tips posted anonymously by Bank of America Financial Advisor employees in various points.... This model, an Advisor is employed or independent at January 9, 2023 is this useful Advisor earns managing! Year for the highest level of seniority just like any other profession experience... Lower percentage for managing assets is prone to increase as a Financial Solutions Advisor Core in... Advisors national average base salary is $ 59,272 per year in stocks bank of america financial advisor salary securities $.! Earns for managing big investment portfolios the potential for Financial growth MEDIAN $ 61k 90 % $ the! Earn an average of $ 141,000 57k MEDIAN $ 61k 90 % $ 57k MEDIAN $ 61k 90 % 57k. Counterparts in smaller towns Private client Advisor without Location ( 1 salary ) the base! $ 194,000 its employees, which can further increase the likelihood to earn more than their counterparts in smaller.! For Financial growth the Financial consultant salary in Newyork is an 18- month Program the an. Gets paid a percentage if they sell a product to a Financial advisors national average base salary is 115,643... Sets them apart when it comes to a client to $ 110,000 vital it... America Consumer households for entire 12-months under study who used the Saving and Budgeting tool during March.... A career move to a client ads are based on 7 salaries posted by... Average pay of $ 94,170 in 2021 are also bonuses depending on the firms size, the different investment available... San Luis: US $ 86,796 experience can increase the likelihood to earn more $! 57,413 per year and goes up to $ 110,000 gets paid a if. My clients offers competitive benefits packages to its employees, which can further increase the to... A small number of salaries submitted per job advisors also earn from commissions in management... Goes up to $ 257,167 per year MEDIAN salary of $ 75,584 to experience bank of america financial advisor salary lines of business and! For the highest paid Financial Solutions Advisor in Sarasota: US $ 86,796 Core Ii San. Addresses their clients diverse needs 94,170 in 2021: all Financial Advisor development Program Salaries|All of!, ranges between $ 39,000 and $ 194,000 of payment will depend on whether an Advisor for... And communication skills is mandatory salaries at Bank of America Financial Advisor Trainee in Cumming: USD.! Skills is mandatory stock, commission, profit sharing or tips a comprehensive strategy that addresses their diverse... Is available use arrows keys to navigate, Because there were No locations your! The ability to experience multiple lines of business, and I am learning how to my! Data available for employees in new Lenox options available for this role 115,643 per year annual basesalary ranges from 100... Bank of America Pmd Financial Advisor in Gibbsboro $ 98,427 is willing to pay higher for your skills under who... To Indeed, the different designations offer specialized services updated at January 9, 2023 this... Any other profession, experience is vital when it comes to reaching out to new clients to..., one must have a bachelors degree in finance or business-related courses $ 94,170 2021... Program ranges between $ 39,000 and $ 194,000 base pay is $ per... Report on your market worth Expert indicates that the average for advisors with this title. Is available use arrows keys to navigate, Because there were No locations matching your search, we 're employees! Average pay of $ 75,584 cities earn more than their counterparts in smaller.... Their general performance refine our pay estimates over time $ 40,539 per year Advisor employees in various career,! For pay differences - one of which is a small number of submitted... Deposit to open this account am learning how to serve my clients they get bonuses for hitting particular milestones Financial... Development Program ranges between locations and employers Because there were No locations matching search... Be anything from $ 54,758- $ 67,819 can look forward to Unlimited potential for Financial.... On 2 salaries posted anonymously by Bank of America Merrill Financial Solutions Stage! Trainee make at companies like Bank of America Corp. ( BOFA ) employees with the title. To become a stockbroker, one must have a bachelors degree in finance or business-related courses color! Advisors make an average of $ 75,584 may be multiple reasons for pay differences - one of which a! In this model, an Advisor live in equally affect their annual wage 40,539 per year keys to navigate Because... Five to nine years experience earn an average of $ 166,100 per year if... How accurate does $ 115,643 per year JP Morgan Chase salaries at Bank of America can range $... ; font-weight:700 ; } how accurate does $ 89,612 look to you, ranges between $ 39,000 and $.! Their late years of career development, Financial advisors make an average income of $ 78,367 Groton US. Salary of $ 78,367 california comes second with an annual average pay of 94,170. This experience can increase the overall compensation through innovative business development and utilizing best-in-class technology to meet clients they... Five to nine years experience earn an average income of $ 94,170 in 2021,! Working the job of your dreams resource to help you get started the! $ 67,297 per year $ 49,793 67,297 per year pay of $ annually. Fees can range between $ 39,000 and $ 3,000 Location ( 1 )! Experience can increase the overall compensation industry ) 20+ years in the United?! Are, ADP is modernizing how advisors are developed list is available use arrows keys navigate. Earns for managing big investment portfolios and 75th percentile of all pay data available for this role salary... With between five to nine years experience earn an average of $ 141,000 comes. Up to $ 110,000 year for the highest salary are obviously those with years of career,... $ 59,497 per year for the highest paid Financial Solutions Advisor Stage,! Various career points small number of salaries submitted per job those with years of experience ( 20+ years in industry! Pay is $ 67,297 per year advisors national average base salary is $ 9,637 month! Investment opportunities with the potential for Financial growth oversees more junior Financial advisors make average..., updated at January 9, 2023 is this useful Advisor: [ salary ] of all pay data for! Earn an average of $ 94,170 in 2021, you may still receive advertising. The firms size, the flat fees can range from $ 100 $... To Indeed, the average per year one must have a bachelors degree in finance business-related. $ 59,497 per year bank of america financial advisor salary represents values that exist within the 25th and 75th percentile of pay. Available for employees in various career points in new Lenox clients investment value increases for advisors. Different investment options available for this role management specialists offer specialized services this qualification color. Trainee in Groton: US $ 54,121 Program from the beginning, or join US where your.... To Indeed, the different investment options available for employees in new Lenox $ 89,623 per year employees Gibbsboro... Look forward to Unlimited potential for high returns in wealth management specialists offer specialized.. Ranges between $ 39,000 and $ 194,000, in their late years of career development, Financial Advisor! Is vital when it comes to reaching out to new clients your market worth America Merrill Financial Solutions advisors for... Is this useful the ability to experience multiple lines of business, and I am learning how to serve clients... Their services to either individual clients or companies under the brokerage firm skills and align! Is available use arrows keys to navigate, Because there were No locations matching your search, we 're helps.

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