Is there a good source of average salary information for Raymond James? I've been offered a position but the compensation looks extremely low. I appreciate your response in advance.
8 replies (most recent on top)
Do not look to keep pace with inflation when it comes to pay at RJ. Bonus and raises are not typical and if you get one it will be minimal. However, if you are in the top executive circle, you will be fine. You will get regular incentives and bonuses, a golden parachute in case you are let go early, and possibly a seat on the board when you retire. You may also get assigned to a project as a consultant with a great package for a few years to boost your savings when you decide to finally really retire.Health packages for retirement are also included at this level.
I would not look at the total compensation unless you are inducted into the high executive club. You can take it into consideration and they will try to present it as a great deal although the pay may be low. You probably won't be there long enough to be fully vested when they let you go.
I miss the RJ ESPP, made a lot of cash off that one. Make sure you invest 100% of your eligible amount, and roll it out each year for the next buy in. My new firm only has a 10% discount and the stock doesn't move as much either...
What???? Did you read anything on this site or what he said was wrong? Didn't even ask Anonymous54140 how old he was. This may have been his first job. He said they treated the employees last too. WOW, no wonder they can pay less with guys like this!
I am the original poster and I appreciate your advice. Special thanks to Anonymous54140 for his even keeled input - I accepted the offer
It is competitive.......to other RJ associates only.
If it's an IT position, look elsewhere. It's just not worth it.
Make a counter offer.
Look at total compensation including ESOP, PSP, 401(k) match and ESPP.
Consider the company culture, which is changing from "Work, Work, Play" to "Work, Work, Work."
Consider also that RJF has delivered 107 consecutive quarters of profitability and 29 straight years of paying dividends to shareholders, even during the 2007-2008 recession when Lehman Brothers went bankrupt and Bear Stearns, Merrill Lynch and AIG came precipitously close. RJF is financially stable because it is conservative. Unfortunately, their management style is also conservative.
Remember, at financial companies the most important people are the stockholders, the second most important are the financial advisors, the third are their clients, and the fourth most important people are the employees.
Read the posts here on www.thelayoff.com with a grain of salt. Also research www.glassdoor.com which is slightly more credible, IMHO.
Finally, learn the company culture, do your absolute best, get fully vested in six years, then reevaluate your decision.
RJF is the best job I have had so far. Not the best it can be, but the best I have had so far....