Am I Getting Screwed Here with Allstate? Is this Job Worth It?

[skaflone721]

Hey everyone, I'm new here and I was worried about a job offering I got. I know very little about insurance and I am in a very bad position right now in terms of getting a job.

Here's the deal.

I have a BS in Economics and I've been looking for jobs for over a year with no luck. I have very little experience and that's really hurting me. I am located in NYC.

There's a guy who recently got a book or whatever with Allstate and is looking for new people. He's ready to hire me. He'll be paying for the classes to get my licenses over 3 week period plus for the exam as well.

During the interview he discussed the pay structure. Basically he is going to pay me $300 a week for 6 months as I get started and then it will be all commission based moving forward with no base salary. We get 10% on every auto insurance I sell, where I get 5% and he gets 5%.

Does this look good? Or am I getting lowballed? What usually happens if you can't sell much aside from getting fired? Will he ask me to pay for the classes I am taking? I'm kind of desperate at the moment, and I really need money and nothing else seems to be coming up right now.

Is it a good idea to go through with this? I already said yes.

 

[nyc2phi]

He is offering you a 50/50 split on new business what about on renewals ? You will need to ask about renewasls.

50/50 split is not bad for someone with no experience especailly since he is offering you training and a salary to start out.

Might want to check how Allstate preforms in NYC first as well.

 

[ZappMan]

Are they still doing that "whoople" training thing? What a complete joke that was.


I pay my folks a flat rate then commish with the opportunity to make more if they sell more. I don't think he'll pay you renewals, that's a pain to track. So you need to sell 30K a month to make $1,500. That's like 30 (based on NYC prices) plus items a month. They don't write home in NYC They farm that out but you can write upstate NY homes

Where do your leads come from?

Unless you sign something about having to pay for the classes based on job performance your OK.