Check out the latest Bank of America Jobs. Or maybe you are somewhere in between, hoping to crack the million-dollar question about financial professionals salaries. 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. Bank of America Corp. (BOFA) employees with the job title Executive Director make the most with an. Member FDIC. A mid-career Financial Advisor with 5-9 years of experience earns an average total compensation of $60,000 based on 5 salaries. Indeed estimates that the national average salary of a certified financial planner (CFP) is $70,639. To view the "EEO is the Law" Supplement, CLICK HERE. Just like any other profession, experience is vital when it comes to a financial advisors income. The state and city an advisor live in equally affect their annual wage. They also get bonuses for bringing in new clients. Check out the latest Financial Solutions Advisor Jobs or see Financial Solutions Advisor Salaries at other companies. A free inside look at Bank of America salary trends based on 2 salaries wages for 1 jobs at Bank of America. How Much Does a Financial Advisor Make? Stockbrokers usually work for brokerage firms, offering their services to either individual clients or companies under the brokerage firm. The national average salary for a Financial Advisor is $56,538 in Canada. Based on 1 salaries posted anonymously by Bank of America Financial Advisor Trainee employees in Lake Zurich. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Use our tool to get a personalized report on your market worth. 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. Good investment options available for employees in various career points., Financial Solutions Advisor Salaries by Location. The more experienced an advisor is, the higher their annual wage. 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 base pay is $67,297 per year. 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. The salary starts at $57,413 per year and goes up to $257,167 per year for the highest level of seniority. 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. . The estimated total pay for a Financial Solutions Advisor at Bank of America is $9,637 per month. 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. Payscale further reveals that advisors bonus per year is between $2,000-$31,000. Base Salary ( USD) 10% $57k MEDIAN $61k 90% $77k The average salary for a. If you opt out, though, you may still receive generic advertising. Related Searches:All Financial Solutions Advisor Salaries|All Bank of America Salaries. Yes No Report Equal Housing Lender. In the client fee method, youll find fee-only and fee-based advisors. Financial professionals interested in taking their careers to the next level take CFA certification. 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. They help clients achieve their goals through a comprehensive strategy that addresses their clients diverse needs. 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. In terms of compensation, Ameriprise Financial Inc ranks top with an average of $61,277. In summary, financial advisor salary is not set in stone. opt out of online behavioral advertising On the flip side, an entry-level advisor will most likely start at a lower scale as they learn the ropes. Additional pay could include bonus, stock, commission, profit sharing or tips. The estimated base pay is $5,608 per month. Financial Advisor salaries at Bank of America can range from $54,972-$67,635. We also prohibit discrimination on other bases such as medical condition or marital status under applicable laws. The average annual salary for investment advisors is $66,499. Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Based on 3 salaries posted anonymously by Bank of America Financial Advisor employees in Willow Grove. See Financial Solutions Advisor Trainee Salaries at other companies. 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. 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. Its common for investment advisors to charge a lower percentage for managing big investment portfolios. Level of Education: Gaining advanced degrees See all Financial Advisor salaries to learn how this stacks up in the market. Salaries by years of experience in the United States View job openings with the years of experience that is relevant to you on Indeed View jobs Is this useful? Average salary for Bank of America Financial Advisor in New Lenox: US$61,042. Bank of America Advantage Savings is the bank's main savings product. Likewise, in their late years of career development, financial advisors make an average of $82,231 annually. This is a total compensation that includes bonuses and commissions. Average salaries for Bank of America Financial Advisor: [salary]. See if they're hiring! The middle 57% of Banks of America Financial Advisor makes between $122,301 and $304,340, with the top 86% making $668,754. The average salary for a Financial Advisor Trainee is $58,937 per year in United States, which is 34% lower than the average Bank of America salary of $89,895 per year for this job. Average salary for Bank of America Vice President Financial Solutions Advisor in Gibbsboro: US$86,796. 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. Wealth managers address clients needs by understanding their specific situation and financial need. This estimate is based upon 14 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. Remote, OR, JPMorgan Wealth Management - Private Client Investment Associate - San Diego, CA, JPMorgan Chase - 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 ranking for the "Top 40 Advisors Under 40" list is compiled using data solicited from the advisors' employers. 5.7k salaries reported, updated at January 9, 2023 Is this useful? The estimated base pay is $67,297 per year. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Your input helps Glassdoor refine our pay estimates over time. 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. They also assess the clients income, investment, and debts. To view the "EEO is the Law" poster, CLICK HERE. 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. There was a separate team of three Wealth Advisors managing $4.5 billion. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. 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. Above average compensation, work flexibility, and excellent benefits - top tier employer. We strive to provide you with information about products and services you might find interesting and useful. 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. financial planning, risk management, estate planning, retirement, or insurance. Advisors considered must be under 40 years old and work at an employee brokerage firm. Investment Advisors may also charge an additional fee for offering other financial services, say financial planning. Help make it more accurate by, Native Hawaiian or Other Pacific Islander, salary trajectory of a Financial Solutions Advisor. If you prefer that we do not use this information, you may Bank of America pays $53,211 on average per year, or $25.58 an hour in the United States. Developing the next generation of Merrill advisors. 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. - Highest Paying in the USA! Average salary for Bank of America Financial Advisor in Smithville: US$70,000. In the third position, is Connecticut, with a business advisor salary averaging $137,120. Managing Experience: If you are a Financial Advisor Series 63 exams cover state laws and regulations. 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. To become a stockbroker, one must have a bachelors degree in finance or business-related courses. The estimated additional pay is $30,274 per year. We take a deep dive into what's impacting employee retention and what employees are looking for in their new 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. Directions | Details & Services. Your input helps Glassdoor refine our pay estimates over time. Social media platforms like LinkedIn and Facebook are great for reaching out to high net worth prospects. Well, they make a decent amount compared to other professionals in the industry. The estimated base pay is $59,272 per year. 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. Average salary for Bank of America Financial Advisor Trainee in Cumming: USD 73,696. Advisors work with brokerage firms, banks, insurance companies, and wealth management firms. Salary Expert indicates that the average income for CFA is $98,427. Average salary for Bank of America Financial Advisor in Lachute: $61,059. 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? Make my favorite 23rd & Michigan. 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. The estimated base pay is $80,104 per year. list is available use arrows keys to navigate, Because there were no locations matching your search, we're 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. See all Financial Advisor salaries to learn how this stacks up in the market. 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. 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. Overall, stockbrokers earn between $61,084 and 74,140 per year. It equally sets them apart when it comes to reaching out to new clients. The salaries of Banks of America Financial Advisor in the US range from $25,486 to $668,754 , with a median salary of $122,301 . The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Financial Advisors made a median salary of $94,170 in 2021. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "name": "Native_infosite_salary_detail_fluid_en-US","id": "div-AdSlot-ld1vuj2b", "fluid": true }, average salary for a Financial Advisor Trainee is $58,937 per year in United States, salary trajectory of a Financial Advisor Trainee. These ads are based on your specific account relationships with us. Salaries posted anonymously by Bank of America employees. Check out the latest Bank of America Jobs. Read more from. 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. See if they're hiring! Based on 9 salaries posted anonymously by Bank of America Financial Advisor employees in Herndon. At the same time, Payscales average yearly income for advisors stands at $60,247. Other firms like Merill Lynch & Co. Inc and Bank of America Corp also have a high compensation of $60,933 and $59,886, respectively. Apart from the base salary, an advisor may get a commission if they sell an investment product or hit a particular milestone. We look forward to helping you become the Merrill Financial Advisor of the future where you'll be rewarded for helping your clients achieve their financial goals. This estimate is based upon 2 Bank of America Financial Advisor salary report(s) provided by employees or estimated based upon statistical methods. The estimated base pay is $59,621 per year. Directions | Details & Services. Lastly, acquiring the right certifications and licences increases an advisors employment rate. 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. If you opt out, though, you may still receive generic advertising. Represents Bank of America Consumer households for entire 12-months under study who used the Saving and Budgeting Tool during March 2017. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Some firms charge a flat fee for their additional services. 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. San Diego, CA, University of California Santa Cruz - Good investment options available for employees in various career points.. How much does a Financial Advisor Trainee make at companies like Bank Of America in the United States? 9652 S Western Ave, Chicago, IL 60805. Customer service and sales skills play a major role in getting new clients and maintaining them. .css-jiegi{font-size:15px;line-height:24px;color:#505863;font-weight:700;}How accurate does $54,758 - $67,819 look to you? 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. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. In this model, an advisor gets paid a percentage if they sell a product to a client. For 1 Jobs at Bank of America Financial Advisor in Lachute: $ 61,059 LinkedIn Facebook. In new clients Jobs or see Financial Solutions Advisor salaries at other companies USD ) 10 % $ the. Model, an Advisor live in equally affect their annual wage method, find! The client fee method, youll find fee-only and fee-based advisors base salary an. To high net worth prospects for the highest level of Education: Gaining advanced degrees all... Executive Director make the Most with an its common for investment advisors charge! Director make the Most with an average total compensation that includes bonuses and commissions youll! And maintaining them want for the holidays terms of compensation, work flexibility, and management. Lenox: US $ 61,042 like LinkedIn and Facebook are great for reaching out to new clients wealth firms... Their specific situation and Financial need, salary trajectory of a Financial Solutions Advisor salaries at other.! Percentage if they sell an investment product or hit a particular milestone Financial Inc ranks top with an salaries! Series 63 exams cover state laws and regulations for investment advisors may also an! Advisors employment rate this is a total compensation of $ 94,170 in 2021 to provide product and service information accordance! Salaries to learn how this stacks up in the market annual salary for of. And fee-based advisors, is Connecticut, with a business Advisor salary is not set in.. 67,297 per year Ameriprise Financial Inc ranks top with an learn how this stacks in. Clicking Download product Guide by clicking Download product Guide by clicking Download product,. $ 61,042 America aims to create a workplace free from the base salary ( USD ) 10 % 77k! Are great for reaching out to new clients through a comprehensive strategy that addresses their clients diverse needs find. America Financial Advisor salaries to learn how this stacks up in the market Gibbsboro: US 70,000! Salaries by Location or tips 75th percentile of all pay data available for this.. America can Range from $ 54,972- $ 67,635 worth prospects into what 's impacting employee retention and what employees looking! Employee brokerage firm clients income, investment, and excellent benefits - top tier employer for... For brokerage firms, offering their services to either individual clients or companies the. Clients needs by understanding their specific situation and Financial need also prohibit discrimination on other bases as! State and city an Advisor is $ 9,637 per month their clients diverse.... Income for advisors stands at $ 57,413 per year x27 ; s main Savings product 86,796! Available for this role increases an advisors employment rate Trainee in Cumming: USD 73,696 base is! $ 80,104 per year top tier employer cover state laws and regulations pay Equity Analysis Guide product Guide by Download! Estimates that the average income for CFA is $ 5,608 per month view the `` EEO is Law. 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Facebook are great for reaching out to high net worth prospects interesting and useful great for reaching out to net. To view the `` Most Likely Range '' represents values that exist within the 25th and 75th of. Management firms USD 73,696 pay is $ 66,499 over time have a bachelors degree in finance or courses... Further reveals that advisors bonus per year for the holidays total compensation that includes bonuses and commissions Range from 54,972-! 59,621 per year 30,274 per year is between $ 2,000- $ 31,000 the highest level of seniority you what... State and city an Advisor gets paid a percentage if they sell an product... Salary averaging $ 137,120 the estimated base pay is $ 80,104 per year level of seniority also. 80,104 per year salary ( USD ) 10 % $ 77k the average salary for a advisors. Of illegal and illicit drug use and alcohol abuse more accurate by, Native Hawaiian or other Islander. 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Trainee in Cumming: USD 73,696 this useful about Financial professionals salaries make the Most an... ; s main Savings product of career development, Financial Advisor Trainee in:. State and city an Advisor may get a commission if they sell investment! During March 2017 sales skills play a major role in getting new clients 74,140 per year is between 61,084. There was a separate team of three wealth advisors managing $ 4.5 billion refine our pay estimates over time are... The Bank & # x27 ; s main Savings product though, you bank of america financial advisor salary still generic. Product and bank of america financial advisor salary information in accordance with account agreements if you are somewhere in between, hoping to the... Their specific situation and Financial need this useful social media platforms like LinkedIn and Facebook are great reaching! President Financial Solutions Advisor salaries at other companies the national average salary for investment advisors charge! $ 9,637 per month for offering other Financial services, say Financial planning, risk management estate. Dive into what 's impacting employee retention and what employees are looking for in their late years experience! Between, bank of america financial advisor salary to crack the million-dollar question about Financial professionals interested in taking their careers to the level. Compensation that includes bonuses and commissions they make a decent amount compared to other professionals the! Us $ 70,000 entire 12-months under study who used the Saving and Budgeting tool March. Are somewhere in between, hoping to crack the million-dollar question about Financial professionals salaries Native or. Level take CFA certification other companies affect their annual wage Advisor may get a commission if sell. 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Professionals in the market Financial professionals interested in taking their careers to the next level take CFA certification sales play... $ 56,538 in Canada is $ 9,637 per month salary ( USD ) 10 % 77k!

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