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	<title>Comments on: How much does a finance major make?</title>
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		<title>By: williamdefalco</title>
		<link>http://www.quickdebteliminator.com/higher-education-university/how-much-does-a-finance-major-make/#comment-61</link>
		<dc:creator>williamdefalco</dc:creator>
		<pubDate>Sat, 24 Jan 2009 19:13:19 +0000</pubDate>
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		<description>It really depends on the field you&#039;re going in, whether it&#039;s sales or operations, with a mixture of bonuses and commission.

If it&#039;s operations (such as backoffice of a financial institution) the starting wage can be mid 40&#039;s to mid 50&#039;s.  With this field there&#039;s no risk of losing money since you&#039;re not depending on sales and so forth, but the tradeoff is that you&#039;re only extra incentive comes from quarterly or year-end bonuses.   Usually there&#039;s little to no commission at all.

And of course with sales the potential to make money is unlimited.  It really depends on where you&#039;re going to start in.  If it&#039;s in banking, like myself, you&#039;ll get a mid-range salary plus commission and bonuses.  Or you can do the 100% commission route, which doesn&#039;t start off bad, like for example at UBS they&#039;ll pay your first year at $65,000, but after that it&#039;s 100% commission, and if you don&#039;t have $3 million in sales generated by the end of the first year then the tradeoof is that  you&#039;re let go.  (I wonder about the $80,000 figure that was quoted in another blurb above and whether or not it has to do with the UBS example.  I haven&#039;t heard of anybody starting right away at $80,000, even with a Master&#039;s.)

So all in all operations you&#039;re looking at mid forties to mid fifties, sales it all depends on how much of a factor commission is. 

Hope this helps.</description>
		<content:encoded><![CDATA[<p>It really depends on the field you&#8217;re going in, whether it&#8217;s sales or operations, with a mixture of bonuses and commission.</p>
<p>If it&#8217;s operations (such as backoffice of a financial institution) the starting wage can be mid 40&#8242;s to mid 50&#8242;s.  With this field there&#8217;s no risk of losing money since you&#8217;re not depending on sales and so forth, but the tradeoff is that you&#8217;re only extra incentive comes from quarterly or year-end bonuses.   Usually there&#8217;s little to no commission at all.</p>
<p>And of course with sales the potential to make money is unlimited.  It really depends on where you&#8217;re going to start in.  If it&#8217;s in banking, like myself, you&#8217;ll get a mid-range salary plus commission and bonuses.  Or you can do the 100% commission route, which doesn&#8217;t start off bad, like for example at UBS they&#8217;ll pay your first year at $65,000, but after that it&#8217;s 100% commission, and if you don&#8217;t have $3 million in sales generated by the end of the first year then the tradeoof is that  you&#8217;re let go.  (I wonder about the $80,000 figure that was quoted in another blurb above and whether or not it has to do with the UBS example.  I haven&#8217;t heard of anybody starting right away at $80,000, even with a Master&#8217;s.)</p>
<p>So all in all operations you&#8217;re looking at mid forties to mid fifties, sales it all depends on how much of a factor commission is. </p>
<p>Hope this helps.</p>
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