How much do U.S. brokers make? Their business cards provide clues
Years on Wall Street do not exactly merit brokers their titles. Titles that range from “Senior Vice President” and “Managing Director” are based more on money raised or earned than actual experience. The title of a broker usually changes when the rep brings in more annual revenue for the firm. Although it differs at every wirehouse, each one has a minimum revenue or assets raised level the broker has to reach to attain a new title. Once they gain a title it is kept forever regardless if their level of production stays above those thresholds.
Read more (Reuters)