Fund Wholesalers' Comp Drops 14% to $190K
September 16, 2002
Wholesalers of investment products and services, including mutual funds and annuities, saw their total cash compensation dip an average of 18.6% last year, according to a DGL Consultants survey.
Mutual fund wholesalers lost an average of 14.1% of their incentive pay, while wholesalers of variable annuities lost 31.9%, according to the results of DGL's 2001-2002 Sales Compensation Survey & Analysis.
Fund wholesalers earned an average $190,400, the survey showed.
Additionally, the survey revealed that compensation paid to wirehouse wholesalers fell an average of 21% from the previous year, while national and divisional sales manager compensation declined by 12.8%.