Bonus Query

Hi All,

Fairly new to the world of Paraplanning/Financial Planning, and I was just curious if it’s common for bonuses to be paid to Administrators, Paraplanners or Planners? If so, is there a standard bonus structure recognized by the industry (ie x% of salary) or does each firm offer different bonus structures?

Just curious!

Thanks all.

Comments

  • For admin and paraplanning staff, it all depends and each firm will have their own take on it, much like any other industry. I've tended to work for firms that have paid a bonus, although it has varied from purely discretionary to a structured annual review and associated % of salary.

  • Thanks for the response. As I say I was just curious having never worked in the industry before. What about for financial planners/advisers? Is it similar to the above you stated or is there a different set up for them?

    Thanks again.
  • Again, depends on the firm. Generally speaking, as the fee earners they will be entitled to bonus but the metrics for deciding this will be very different in each firm.

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