I’m curious about the roles of RB and PCB at Chase in Los Angeles California. The bank has reached out to me and mention that starting salary is $42k a year plus bonus/commission. They are implying its fixed, but I’m imagining that’s how they want it to look. If I get offered the job, I want to negotiate up to $48k to $52k. Is this realistic? I don’t want to be insulting but I also don’t want to leave money on the table. I have an MBA, 1 year of experience in financial services, and my series 6,7, and 63. Please stay on topic.
Go work for tech... average starting salary is twice as much with that experience.... even member support makes 58k or more to start
Any good tech companies in Fullerton, CA? I’ve had my eye on Raytheon. Attending a career fair there this week.
Chase will not negotiate very much on the base pay. I wouldn’t bank on maybe 2-3k. In terms of commission- unless you’re willing to do a lot of cold calling make sure your branch is in an affluent area with high foot traffic AND make friends with the teller as they will be your life line referrals. I worked for WAMU then chase in the branches along with my husband for a number of years and I personally find them a soul sucking company. So make sure if you’re hourly you take your breaks and if salary and travel record all mileage etc
i was making $40k base when I was a RB (then known as personal banker). almost 10 years ago lol. definitely ask for more. worth noting top PCBs in NYC can clear 150k or more total comp
Apply for First Republic. Bankers start at $60k, with the most competitive comp plan and benefits.
Base never goes above 50k for all banker roles. But incentive plan is aggressive. You can earn more than 100k if you know what to do
What do you need to do? 🤔
The salary is real, but you should ask for more, not because of MBA and but because you are licensed and experienced. Keep in mind the salary is no reason to apply to this job. The good bankers in the 70th to 85th percentile In pay are getting most of their money from commissions and bonuses. Also, there are so many low talent, barely working employees it isn’t that hard to get to 75th percentile and make some decent money. Upward mobility will be limited unless you move and shift career. But it’s rare where a banker works over 40 hours, and there is vacation, sick time, and full benefits. So for many people pulling down $80k+ without much stress and no OT can be a nice career.
For this saying to apply to banks with higher salaries, I answer “maybe”. Think total compensation and also ask how hard working and talented you are. The more hard working and talented you are the more you should apply to places that offer big upside that is achievable (meaning plenty of people make that number, not just the top 1%). The more you just want to kick back and put your feet up, the more the high salary offer will fit better
I am a relationship banker at Chase Bank in Michigan. My base salary is about 40k/year ($20/hour) but my commission works out to be about $60k per year. I am a top achiever in my market. I am in one of the poorest branches in the market as well. If you work hard, you can make it.
Is this a meme? $42k after having an MBA?
The average commission is about double the base salary, or so I’m being told.