Equitable Advisors reviews

There was no other location for me to explain the salary system, so I'll do it here. Prior to starting you must pass your series 7 & Maryland Life, Accident and Health tests. During this time you are not paid & you must pay for these test (~$700, but you will get about ~$500 reimbursed after 3 months of being fully contracted.) Once you start working, your first month you are paid hourly, but must work 40 hours per week (no more, no less), I received $1,400 for the month + commissions (I did not make any commissions yet and it would be difficult to do ). For the next 2-6 months, you are not making any money except on commissions. After you make $3-$5K, then you are done with your Pre Employment Phase (PEP). 3 months from now you will receive that $500. Now you make a decision to either be on a 3 year track to make a decreasing salary or decreasing bonus. I believe the salary starts at $24K then reduces by about $4K each of the next to years. The other system starts you making a 30% bonus on all commissions which decreases (I believe) by 5% each year for the next 2 years. Either pathway focuses your income from comissions.

Early on it can be a lot of hours in the first few years. However you are able to have a flexible schedule which helps in maintaining your personal life. As your practice evolves the hours become much less though. Some experienced advisors truly work a part time schedule once their practice is built. If you are not licensed already, you need to become licensed to work in the financial industry. AXA sponsors you and helps you prepare for the necessary exams. If you are committed to the studying process, it should only take 45-60 days. Those 45-60 days are a small price to pay compared to other professional fields like becoming a doctor or an attorney, which require multiple years of schooling and similar exams to enter into their fields.