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3 jobs that can give you 6 figures salary

  1. The following is a list of 3 lucrative fields in which the top-earning 25 percent of workers take home more than $100,000 annually, according to the Bureau of Labor Statistics (BLS). That percentage proves there is real potential for sizeable salaries within these fields, even if your résumé doesn't boast a lengthy list of alma maters. Though some of these positions are filled by people with graduate degrees, a bachelor's degree and a little initiative could get you well on your way to a six-figure salary.

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    Securities, Commodities and Financial Services Sales Agents
    Salary of top 25 percent: $123,910+
    Median salary: $67,130

    What they do: Securities, commodities and financial services sales agents buy and sell stocks, bonds and other financial products. They may also inform clients about financial markets and counsel them regarding their financial portfolios.

    How to get the job: The majority of financial sales agents have college educations, and have taken courses in business, economics and finance. Securities and commodities agents must pass state licensing examinations, and many firms require agents to complete in-house training programs.

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    Financial Managers
    Salary of top 25 percent: $118,150+
    Median salary: $86,280

    What they do: Financial managers' responsibilities vary, but they generally oversee the preparation of financial reports involved with accounting, investing, banking, insurance and securities. They can also develop financial strategies for their organizations.

    How to get the job: Employers expect financial managers to have a bachelor's degree in finance, accounting, economics or business administration, and increasingly expect a master's degree in one of these fields as well. Depending on the company and the specific position, professional certifications such as the Chartered Financial Analyst designation may also be required.

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    Personal Financial Advisers
    Salary of top 25 percent: $107,470+
    Median salary: $63,500

    What they do: Personal financial advisers provide guidance to clients regarding financial decisions. Many financial advisers specialize in a particular field, such as retirement planning or risk management.

    How to get the job: Most financial advisers hold a bachelor's degree in finance, economics or accounting. Certifications such as the Chartered Financial Analyst designation can strengthen an adviser's professional standing.
     
  2. Good info :p
     
  3. This is a strictly sales / asset gathering job with very high turnover (90% failure rate). Don't even think about it unless you have some filthy rich friends and family who can vouch for you.
     
  4. Most financial advisers make almost nothing. It's just another term for a stock broker. Nowdays, most good name firms won't even give you a salary while you get adjusted.

    In fact, the other two jobs you listed are just a more evolved form of a "stock broker". Pitching potential clients, along with 100s of others. One of my frat buddies does something quite similiar. He is no newbie, I think he is close to 6 figs after like 5 years. It ain't fun and it's tough & high pressure work.

    Sales and all sales. In most sales jobs, you eat what you kill. Most people can't sell. Hence, most people in those jobs drop out quick and make little. There are decent base salaries for those who package products for institutions, but if you don't make quota, you will be out of the door soon. You can make good money if you got talent in doing sales on that level and you start at the right firm.
     
  5. OR if you are hard worker.

    I was a broker for 4.5 years and can vouch that you do not need all these high net worth connections. Don't get me wrong, it helps; but is not a necessity.
     
  6. You won't make it through simply HARD WORK, you gotta have some innate skill as well. And a little luck (or a lot). Many brokers (stock & real estate) bust their ass for years and years to end up burnt out and with little assets. Most quit due to frustration or financial reasons within a year.

    Not in this day and age, it's a very very competitive and saturated marketplace. Just like daytrading US equities, hehe.
     
  7. What about programmers? It is quite easy to get six figures even with little experience.
     
  8. True, they were also included, but I only posted the trading related jobs....
     
  9. Or, unless you have a very thick skin and no moral compass so that you can cold-call from the phone book and lie to everybody who will talk to you.
     
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  11. Sales is brutal, especially if you are just handed a stack of D&B's and have no sales training.
    If you have a decent product, and you are taught how to sell, you can make good money.

    I started as a commodity broker working for a bucketshop. I was fortunate - I pushed hard on a trade, and despite the ridiculous vig, my clients and I made a fortune.

    My first year I made about 70K in commissions - and that was working from 6-6, bag lunch at my desk. I had zero experience in sales and didn't know what a commodity was.
    My second year, I made about 175K in commish in the first 6 months, and about the same being in the same trade as my clients.

    It IS possible. It's just highly unlikely that you will succeed.
     
  12. Can't cold call anymore with the Do Not Call List in effect.

    Also, what kind of moron will pay $100+ full service commission to buy or sell stocks these days? This is a dinosaur industry unless you are an established broker with a book full of wealthy clients.
     
  13. 4.5 years is like eternity in the brokerage biz. Most new brokers will be given 6-9 months to prove themselves at most or else they'll be shown the door.
     
  14. while i agree with innate skill...hard work can also produce ( sales is a numbers game ) .. trust me i used to open 2-3 accounts a month on a cold call...and i was far from being a good salesman ( my english was not so good and i was talking to whales ). Then there where guys next to me who would just pick up the phone and would close in one call...im not diosagreeing with ya..im just saying hard work and hitting more numbers can produce..peace
     
  15. While the DNC was a hurdle the brokerage business did not like, there are plenty of cold calling opportunities out there.

    As for what 'moron' pays these commissions, MANY MANY people pay the commissions. See, you have to understand what 'morons' are visiting firms - these are people that usually don't have a clue and know they need a professional. In turn, they pay the fees happily. People that would not visit this board ever. People that just want to turn their stuff over and say 'you do it'.

    And there are so very many of these people out there... Hence the reason full service firms have gone nowhere (actually grown assets) even after people said they would be dead once ETrade, etc came about.

    And this is coming from actual experience, not my opinion.

    Your major firms - Merrill, Morgan Stanley, UBS, etc - are doing just fine with the plenty of 'morons' out there. And as wealth changes generations over the next few years, a fresh bread of 'morons' will be coming in.
     
  16. I disagree, the amount of skill required to be a broker is very little, if any. Take a ton of hard work and decent sales training and you can make it as a broker. I saw it all the time when I was a broker, so this statement is based on actual real life experience not an opinion.
     

  17. Brokers, Financial advisors, whatever you want to call them.. don't really work for commission anymore. The business has moved to all inclusive fee's, i.e. "WRAP" fees. I call a broker give him 100K, he agrees to have my money be managed by an outside manager, the manager gets a third of the fee, broker and firm get the other 2/3'rds. The nice thing about this model is that if the performance is poor, your broker can blame the money manager fire them and move your money to a different manager. Broker does no work except try to get clients..
     
  18. I get a couple calls a month at work (it is still OK to call businesses apparently and I am the owner). I have been pitched gold coins, a penny stock and Ford stock in the last month or so. They always sound like they are in a boiler room for some reason when they call :D.
     
  19. Once you start making 6 figures you'll realize how little it is.

    I'll let you know how I feel when I break into 7 figures.

    opm8
     
  20. Any sales related job can make over 100K a year if you work hard at it. Car salesmen, amway sales. Even the Avon lady can make up to 100K year if she worked extra hard. Tupperware sales also. Car mechanics are also known to make over 100K a year. Even that non-English speaking Mexican fruit stand owner at your local farmers market could be making over 100K a year. You know the one that looks homeless and poor. Well he has you fooled. He probably has a million in his bank account.

    It just depends how hard you work and if you are good at sales. Some people work hard 24 hours a day and can't sell nothing. Sales isn't for everybody.
     
  21. OPM - ain't that the truth. Everything is relative... including what you consider to be a good income.

    :D
     
  22. Pekelo, this thread is a bit misleading. It makes it seem that the financial sales is the industry to be to make the big money in when in fact its the worst - highest turnover rate, highest stress, lowest base salary, etc.. There's a tremendous hurdle to overcome before you make over 6 figs in financial sales.
    The easiest way to make 6 figs is to get a graduate degree and become a committed corporate climber whether as an accountant or IT guy or whatever (anything but financial sales).
    Being a professor is probably the best job. Low stress + tenure + high salary + lucrative consulting contracts + tons of respect.
     
  23. You hit the nail on the head, especially at a place like U Of Wisconsin Madison. If you get fired they have built in a fall back job for you. You may end up with a little lower pay, but you don't lose seniority, perks or anything else.
     
  24. Yes a certain minimum amount of work ethic is a requirement whether you have skill or not. Especially for stock broker & real estate agent (unless you got that super special hook up)

    But it is not an edge. You're just another one of the herd and to stand out you need to either innovate, have a better innate skill or be able to outlast your competition on a physical and mental stress level.

    You obviously have never met a talented broker who just has "it". And you are not the only one with real life experience, except that mine was in Merrill Lynch's top producing office of the whole world. Oh, and the top guys' trick was not hard work, it's was more about connections and knowing how to capitalize on who they know. One guy had a ton of Hollywood clients, another was from a rich NYC Irish family (bar & RE owners). Some never had to work that hard, some worked their asses off but only by doing something innovative and out of the box were they able to make it to a certain level.

    Watch Entourage on HBO and check out Ari Gold (played beautifully by Jeremy Piven). That personality, charisma, sting & appeal is not hard work, that natural skill and genetics. He is a total broker. Not everyone is born with sales skills, it's a certain sociopath type quality to be able to BS & lie like that, while knowing the customer is getting worked over. Gotta be able to stomach it also.

    If it was all about work ethic, Mexicans would dominate the sales industry.

    P.S. Jeremy Piven carriers that show.
     
  25. I understand that some guys have 'it'; however your posts continue to say that to make it that you must have 'it'. That 'it' cannot be taught and I disagree with that. In terms of being a good broker, that can be taught and if you are willing to work hard, then you can be a successful broker. Perhaps our definition of 'it' is the same, yet we are taking different angles here. 'It' is really the ability to work hard and work smart. You saw guys work smart - using their connections. I saw guys work hard. These were normal every day guys just trying to make a good living - and for those that worked hard and did what they were taught - they reached that goal they were shooting for. You do not NEED the hollywood connections or a whale, you can make a good living if you word hard, work smart, and bust your butt.
     
  26. Most will give up before the fruits of their hard work flourishes...but i am with brownsfan on this one...i saw people from all walks of life from ignorant to super connected and talented working side by side day in day out on the phone pounding the phone 400 calls a day...and while some had the "IT" and had to make less phone calls to close an account other less talented clowns produced the same numbers with twice the amount of calls...and i saw this in a boardroom with 400 stock jocks on the phone everyday for years...so i speak of 100% life experience...
     
  27. For most securities sales people, you're trying to "cram a sale down someone's throat" [through hype and/or intimidation] in order to make commish without regard to the benefit of the client. Is that what we call "sales ability"? Where's the worth and nobility?

    In most cases, a "good salesman" is nothing more than a snake-in-the-grass, immoral, SOB.
     
  28. gnome - I agree with you, but here is how it works from the firm's point of view... most people are not just going to walk into your office with a ton of money to invest. To grow your book, you must contact people and offer them something, even if you really don't plan to sell that in the end. For example, I would often call on CD's to older prospects. They loved talking about CD's. Cd's are about as boring as they come. But, when I had a rate that interested them, I might sell $5000 of that CD and then talk about bonds, mutual funds, etc... the entire planning process.

    BUT, in order to get them into my office, I had to wet their appetite with something.

    So while I agree that cold calling with a stock idea is not in the best interest of that person at all, you have to do something to get them in your office where you can do some real planning.

    At least, that's what I did.
     
  29. So they're basically telemarketers that get paid a lot. I'd rather trade.
     
  30. jeremy piven is absolutely amazing in entourage. he does carry that show. His body language and expressions are pure entertainment.
     
  31. those were the account openers and cold callers...the brokers which had 10 account openers under them were making 10 calls a day and making 300k a month gross and they were 23-30 years old...im just refering to a poster which made a reference to needing special skills....they made closers out of you using the "boxing in" technique....to bad they closed shop and some got slapped with the RICO act.... :eek:

    my point isnt how or why or when...my point is I closed tons of people on a cold call from hard work and not so much skill....peace
     
  32. what is the RICO act??
     
  33. ok, nevermind, just googled it.
     
  34. the failure rate is high, but on par with traders and any other small businesses. sure it's hard, but once you get the first 10-15 years under your belt and start working off referrals, it's easy sailing and you can have a great lifestyle through your golden years. most of the older financial advisors work half days, with many having another team member to help.

    plus, some of the characterizations of financial advisors on here are a little unfair. the majority of the public doesn't even know where to start when it comes to the stock market, nor have the time or desire to learn. they devote their time to their career, their family, and their businesses. good financial advisors add value in ways other than simply finding good mutal funds and stocks, such as comparing college saving plans, whether to use HSAs, screening alternative investments, tax efficient planning, etc.
     
  35. Cash - you are telemarketing at the beginning to grow your book. Once your book is established, it's actually not a bad gig at all.

    The saying we had when I was at the firm was - you are grossly underpaid your first 1-2 years and grossly overpaid later. (the thing we left out was that assuming you are still here after 2 years... :D )
     
  36. Stock Brokers, Investment advisors, Financial planners, etc... are all titles built to hide the term: "Salesman" to paraphrase Brian Tracy. Any form of self employment allows you to make good money. Sales just happens to be one of the few where you don't need any capital or experience to get started.

    I would stick with trading over any stockbroker type positions. The non group customers of today are a pain in the rear. They want to be self actualizing, they want to invest only with seasoned pros who don't accept people of their income level as clients, they assume anyone cold calling is a scammer, they make appointments just to get you off the phone and don't show up, ad nauseam ad infinitum....

    As well, you can't advise your client properly unless you can offer products from other companies, and related industries, so you're back to starting your own bluishness again, which of course you need capital, experience, and clients to do.

    Sales is a great business for some. If you make it to the top 20% your good, and you will probably never have to worry about money again.

    Of course not everyone can be a Joe Gerard or Zig Ziglar.
    :)