Compensation
Work hard, be rewarded – your income potential has no ceiling.
Simple enough. And absolutely true. But we know that building a business takes time. So we’ve built a compensation program that supports and rewards you as you learn the skills, systems and business practices you need to succeed in our client-first business model.
“Initially, I joined the firm to increase my income, I liked the idea that someone else couldn’t dictate how much I made… Although I worked very hard to build my business, I had the freedom to control my schedule and my income.”
Paige Barnes
Financial Advisor – Saskatoon, Saskatchewan
Financial advisor trainee pay
We’ll pay you a salary while you study for your industry licenses and complete required training.
Salary for up to five years
Once you are licensed, you are eligible to receive a supplemental salary for up to five years – giving you the support you need to build your practice as you build your skills.
- Supplemental salary is based on a number of factors, including prior experience.
- As you progress, your supplemental salary will gradually decrease as you move toward compensation that is based more on commissions.
Commissions
As you partner with clients to help them achieve their financial goals across the arc of their lives, you’ll earn commissions. Because you’ll run your own office, set your own goals and tailor our solutions to meet your clients’ needs, you are in control of your compensation. We provide a framework for expected performance as you progress through your career, but there is no ceiling – your compensation is tied to the effort you put in and the results you achieve.
Commission payouts start at 9-10% and increase up to 32-35% during your first four years as a financial advisor, based on tenure as a financial advisor. We anticipate financial advisors will increase their commission payout approximately every 5-12 months. In year five, your commission payout will increase to 36-40%. Your commission payout is subject to the firm’s earning conditions.
New asset compensation
You will have the potential to receive compensation on specified new assets gathered through year six.
Sample Compensation Schedules
Based on a new financial advisor whose performance standards are 150% of standard or greater:
| Year | Salary* | New Asset Compensation | Commission** | Total Compensation |
|---|---|---|---|---|
| 1st Year | $72,188 | $16,866 | $5,250 | $94,304 |
| 2nd Year | $58,125 | $27,324 | $24,000 | $109,449 |
| 3rd Year | $43,125 | $32,652 | $48,750 | $124,527 |
| 4th Year | $28,125 | $27,891 | $93,188 | $149,204 |
| 5th Year | $13,125 | $20,520 | $150,000 | $183,645 |
| 6th Year | $0 | $11,124 | $192,000 | $203,124 |
Based on a new financial advisor whose performance standards are 100% of standard:
| Year | Salary* | New Asset Compensation | Commission** | Total Compensation |
|---|---|---|---|---|
| 1st Year | $72,188 | $11,244 | $3,500 | $86,932 |
| 2nd Year | $58,125 | $18,216 | $16,000 | $92,341 |
| 3rd Year | $43,125 | $21,768 | $32,500 | $97,393 |
| 4th Year | $28,125 | $18,594 | $62,125 | $108,844 |
| 5th Year | $13,125 | $13,680 | $100,000 | $126,805 |
| 6th Year | $0 | $7,416 | $128,000 | $135,416 |
Based on a new financial advisor whose performance standards are 75% of standard:
| Year | Salary* | New Asset Compensation | Commission** | Total Compensation |
|---|---|---|---|---|
| 1st Year | $72,188 | $8,433 | $2,625 | $83,246 |
| 2nd Year | $58,125 | $13,662 | $12,000 | $83,787 |
| 3rd Year | $43,125 | $16,326 | $24,375 | $83,826 |
| 4th Year | $28,125 | $13,946 | $46,594 | $88,664 |
| 5th Year | $13,125 | $10,260 | $75,000 | $98,385 |
| 6th Year | $0 | $5,562 | $96,000 | $101,562 |
Important Information
*For demonstration purposes only, schedules are based on starting supplemental salary of $75,000 annually. Earnings do not take into account profit-sharing contribution, CPP or QPP contribution or profitability bonus, if any. Notes on calculations: Net commissions for each Financial Advisor are for the end of each year as a licensed Financial Advisor. For instance, in year 1, Financial Advisor net commissions are from the first 12 months as a licensed Financial Advisor. In year 2, net commissions are from months 13–24 as a licensed Financial Advisor.
**The calculation of earned commissions or fees includes: (1) any market loss resulting from a trade correction, (2) any fine which the firm has determined is attributable to you, (3) the application of any fee reduction or discount, (4) any asset sharing plan commission adjustment, and (5) the Business Expense Plan or Limited Business Expense Plan adjustment.
Note: the BEP allows financial advisors to use BEP dollars to pay for qualified business expenses in a tax efficient manner.
Trimester profitability bonuses
Once you build a sustainable business and transition away from your early forms of compensation, a portion of your compensation may be from profitability bonuses – earned and paid by trimester, based on branch and firm profitability.
Profit sharing
As part of our share the work-share the rewards culture, each year we distribute a portion of net profits in the form of profit sharing. Over the past 10 years, the contribution has averaged 4.28% of a financial advisor’s total compensation (including bonuses). Your profit sharing retirement contribution is 100% vested on day one.
Travel awards
Our Travel Award Program recognizes you for building your business on strong client relationships. Beyond being a fabulous perk, these trips promote knowledge-sharing among financial advisors in a relaxed setting where you can recharge.
About half qualify
Travel awards aren’t reserved for just a few top advisors. In the past five years, about half of our financial advisors have earned a trip.
Two chances to earn each year
We offer two six-month qualification periods each year. You also have the flexibility to combine two trips into one “Super Trip.” Trip values average $5,000 to $8,000 for two people and $15,000 for a Super Trip.
All trips include spouses or domestic partners – and many welcome families. Some recent trips have taken our financial advisors to:
- Venice, Italy
- Bali, Indonesia
- Athens, Greece
- Dublin, Ireland
- Malta
- Turks & Caicos
Partnership
In addition to your compensation package, financial advisors in the past have had the opportunity to invest in Edward Jones’ parent company, The Jones Financial Companies, L.L.L.P., a Missouri limited liability limited partnership (“JFC”). Historically, limited partnership offer selection has been based on minimum tenure and profitability requirements, and running an ethical branch. The extent to which financial advisors demonstrate leadership and assisting others in their region and the firm may also factor into a limited partnership offer. As of December 31, 2023, over 33,000 Edward Jones associates are limited or general partners.***
***Limited partnership is a security and can only be acquired through a securities offering that complies with the securities laws. The offering of limited partnership can only be made through a registered offering document or pursuant to an exemption. There is no assurance that the firm will engage in future offerings of limited partnership or that the offering criteria will be the same as in the past. Invitation to participate in any offering is at the discretion of the firm.
Follow Us:
Copyright © 2024 Edward Jones.
At Edward Jones, we are building a place where everyone feels like they belong. Our human-centered culture calls upon us all to treat every individual with dignity and respect while celebrating what makes us unique, which we show as an equal opportunity employer committed to diversity, equity, and inclusion. Edward Jones does not discriminate on the basis of race, colour, sex (including sexual orientation, gender identity and pregnancy), religion, national origin, age, disability, genetic information, citizenship status or any other basis prohibited by applicable federal, provincial, or local law in employment decisions such as hiring, compensation, benefits, transfers, promotions, leaves, training, performance expectations, development opportunities, and corrective action.
Edward Jones is committed to providing accessible employment and developing an inclusive culture. Should you require accommodation at any time in the application for employment or during your employment, please contact us at recruiting-accommodations@edwardjones.com.