mortgage advisor - average commision??

gazza975526570

I didnt want to steal the last persons thread as a different question.

Im soon to start work for a part of RBS as a mortgage advisor - my basic is £24k as i have transferred with potential bonus of £12k.

Firstly is this a good offer (sounds it to me but first job in this field). im not qualifies as of yet. could i gte more elsewhere or am i just lucky that im transferring my current salary over?
secondly what bonus can i? reasonably expect if say im "average" at the role?

dwight-van-man

Sounds quite a good basic to me for a tied adviser - I know of mortgage advisers in Northern Rock and Nationwide who's basics are in the teens rather than the twenties

dunstonh

Its not bad for a tied adviser. An independent could see another zero on the end but that would be highly unlikely in your case, being that its your first advice role.

Going back to my banking days, there is no way to tell what you will get in bonuses. Often its a lottery of the branch you will be given. Some branches are naff and always are. Others just have the business pouring through the doors with no effort required.

gazza975526570

is that a one day realistic expectation?

im guessing thats for the very few not the many!!

So once i start working here is the idea i use their training/complete the exams then look to move elsewhere?

Is it a very cutthroat business?

apologies for the questions but ive been in the company where i work now for over a decade and am feeling a little unsure of if i can make the grade, what the grade is and what i can expect for hitting the grade!!

Tiggs_2

at RBS i would expect you should be making over £30k otherwise they are going to regard you as below target and you wont want to work in this industry at below par!

is it cutthroat? not really - its all about money, you make them lots and they will like you - you do badly and you'll leave because it will be crappy job where you feel under pressure to achive beyond your means....is that cut throat?

long term you prob want to look at moving towards more general financial advice as thats where the real money is - if you are good a bank is no bad place to start and training will be good.

earnings wise i would say £30k in year 1 as a banks mortgage brooker is about right....i'd be surprised if many make more than £50k.....move into financial advice and (at a bank) you may find you can make up to double that if you are VERY good.......5-10 years time you go it alone as an IFA and make 100k+++ who knows! think big!

I worked for a big life office as a sales rep 9 years ago with no experience and a 14k basic my earnings where 30k yr1, 60k yr2 85k yr3 and then big money therafter.

My only prob with banks and life offices is they are very sales focused and thats not everyones cup of tea......it wasnt mine so i got out as soon as i felt i could do it alone.

To be fair, ihave mates at RBS and they seem pretty good as employeers go (as long as you are doing the targets!)

regularsaver1

You need to read your contract I'd say

some companies will not pay you commision until you do over a threashold of offers/completions

also successful files checks and cross sales can come into it