Barbara Herman Quoted
By Susan Konig
Over the last decade, consolidation and other “efficiency” initiatives have resulted in the loss of jobs for thousands of wirehouse branch managers. …
As the big firms continue to consolidate, this is a choice more and more non-producing managers will inevitably face. The job can be rewarding for those who manage to pull it off. Not surprisingly, time management skills are critical, as is the ability to ensure other full-time reps that their turf is not being invaded from an internal competitor.
Non-producing branch managers get a base salary—typically between $75,000 and $140,000 a year, says Peterson. “While compensation structures differ from firm to firm,” says Barbara Herman, senior VP of Chester, NJ- based Diamond Consultants, “it’s safe to assume that a producing manager’s total earnings have a lot to do with his own book of business.”
