Base Pay
- Thread starter jeniker72
- Start date
- 919
That's a start, but is there anything(s) more specific?
- Thread starter
- #3
Okay, here goes. I've worked for two different insurance companies in the last six months. Both are commission only jobs. At this point, I'm stuck, not that I don't like what I'm doing, but I can't live on "commission only" and for that matter, not knowing exactly when I will get paid. And no other companies are hiring because of everything that's going on. What I'm looking for is to work somewhere that at least has a base pay, I'm not asking for much, but something, until I can get it going. And furthermore, if insurance companies think their products are so great, why would they NOT offer a base pay at first, even for just a month or two? It sounds to me if someone is totally behind their product(s), they should be willing to shell out some dough to keep agents going. Does that make sense?
- 1,459
Nothing is so great it doesn't need to be sold. This business is tough in the beginning, if you want it bad enough, you'll find a way.
- 919
It is very rare to find a salaried, or blend of salary and commission job in insurance sales. There are a few captive positions that do that. Generally speaking, the more "captive" you get, the more difficult the screening. As an alternative, have you considered other insurance careers like adjusting, claims, etc...? They do pay salary.
- Thread starter
- #6
I've been looking for ins adjustment jobs too. I like the insurance industry, while it is interesting, one cannot live on commission alone, in my opinion.
Are you working on commission? And if so, how's that working for you?
I just always hear people talk about how sales is the way to go, the way to make the most money, is that really true?
Are you working on commission? And if so, how's that working for you?
I just always hear people talk about how sales is the way to go, the way to make the most money, is that really true?
- 8,707
Jeniker, I think you will find that most sales jobs in the Insurance field are commission only. I have been in the business for 10 years now 100% commission only and have been able to provide for myself and my family. Having said that this can be one of the toughest and easiest jobs out there. If you do not have some sort of nest egg set aside to cushion the first 6 months then it can feel like your trying to run up the down escelator that has been set on some sort of super charged speed. I do not know what type of products you are selling but most life policies can take months...DI, LTC etc if the product is underwritten it can take some time but once you have built up a client base this can be a very rewarding career path. If you don't think you can live on commission only it might be that you can't maybe now is not the time for you to begin an insurance sales career. You might be better spent getting a regular job living like a monk and squirelling away as much as you can so that you can try this maybe in a year from now.....
But first you must decide if this is really the career for you. Its not all about the money, yesterday I was with a client helping and advising him on his options as it pertains to his recently deceased wifes retirement accounts, helping him rework his budget etc....Now it just so happens that in this case there are 2 opportunities where I can provide him a now needed product but I was there first to service my client not to make money.
Jeniker,
Like everyone else, I wish you well. You might consider strongly pursuing a non-sales position. The industry is huge and you can earn a decent living in a salaried, non-production position.
With respect to there being few Base + sales jobs in the insurance business, I strongly agree. So, you have to be in position to absorb the initial lack of income period, whatever it may be.
Just make sure sales is what you want to do in the insurance business. The rewards are there but your income will indeed be solely based on what you sell (and retain).
Insurance sales comes down to this: You Eat What You Kill.
good luck.
Like everyone else, I wish you well. You might consider strongly pursuing a non-sales position. The industry is huge and you can earn a decent living in a salaried, non-production position.
With respect to there being few Base + sales jobs in the insurance business, I strongly agree. So, you have to be in position to absorb the initial lack of income period, whatever it may be.
Just make sure sales is what you want to do in the insurance business. The rewards are there but your income will indeed be solely based on what you sell (and retain).
Insurance sales comes down to this: You Eat What You Kill.
good luck.
My experience has been, if you have a good track record you can find someone who will pay you a small amount for a while. This can come in the form of a draw, that can either be paid against future commissions, or waived if certain sales objectives are met. As previously mentioned, captive carriers are more likely to have structured pay. It just comes down to weather or not you want be limited with your product offering.
M
mcmillian-1
Guest
Well First let me tell you I understand your pain. But the industry as a whole is going away from paying a base although you may be able to find an agent in your local area that may be able to give you some type of base. But the only insurance jobs that I know that may pay you a base are P&C jobs. I don't know if you have that LIC but it is worth it. What you really want to do is to sit down and put together some type of plan. Find out what it is that you want to do in the business and what price you are willing to pay for it. I will tell you the truth I lost everything to do this business But now I think I am on the right track. I am a good telemarketer that's How I got my start in sales, so I had to bring that strengh over to the business and that is making a huge diffrence for me.
Most compaines out there work on commission only...Do you have a LIC or were you working under another agent?
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