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
Mutual fund wholesalers saw their average incentive pay drop 14.1%, while wholesalers of variable annuities lost 31.9%, according to the results of DGLs 2001-2002 Sales Compensation Survey & Analysis.
Fund wholesalers earned an average $190,400, the survey showed.
Additionally, the survey revealed that compensation paid to wire-house wholesalers fell an average of 21% from the previous year, while national and divisional sales manager compensation declined by 12.8%.
