Being transparent about your expectations, especially regarding compensation, is essential as a relationship manager. But how quickly should you bring it up in a job interview?
It is best to address the topic early to avoid wasting time and ensure that you and the potential employer are aligned. However, it’s crucial to approach the conversation strategically.
First, you should understand the client’s needs and identify how to generate revenue based on your new employer’s setup. Especially among independent wealth managers, there are significant differences in the scope of services and the fee model. Doing this allows you to develop a realistic view of what to expect and tailor your business plan accordingly. Remember, you are writing a business plan for yourself, not the new employer.
Once you have a clear idea of what you bring to the table, discussing compensation early on becomes much more true to life. It saves everyone time and energy.
In summary, being open and honest about your business plan is vital to building a continuing career path. Ensure you approach the dialogue strategically and understand your value proposition in a well-thought-through realistic business plan, reflecting possible constraints or needs.
Source: LinkedIn
