3.0
7 Aug 2010
Former employee
Chicago, IL
Recommend
CEO approval
Business outlook
Pros
If you can get your foot in the door and can live on a very modest salary for a year, you'll have benefits and a chance to study and take your securities and insurance license exams.
Cons
If you don't pass your series 6 and 7 the first time you are immediately terminated. Commissions and trails on mutual fund sales are only around 1%. Morgan Stanley gives you about 30% of that 1%. So if you have a million dollars in assets under management you'll earn $3,000. Pretty tough. Life insurance sales are around 4%. This information is from 2008, so compensation might a bit different