Becoming a State Farm Agent

[Matthew Campbell]

Hello Everyone,
I am considering becoming a State Farm agent and was wondering what you all think about the current outlook?

I have worked for an agent for two summers and will be graduating college in May with a bachelors degree in business management. I will be working for the agent full-time in May until I am ready to open my own agency.

I was wondering how long you think it will take to gain the necessary experience and how much cash I should have saved? Also any other advice? Thank you for the help!

 

[BADTROUT]

I think it's great to see younger people getting into an industry of old dogs first off. I also think it's great that you have learned at least the feel of a working insurance office. I will say, that there is a natural progression, the more experience you get to move away from the captive world of SF or Farmers and the like, to the independent side of things.

Having started myself for a captive and done the migration, and seeing so many others do the same, I would advise you to seek out an independent agency when you graduate. Someone licensed, at your age (I'm assuming), with experience is gold to an agency owner. The experience you would gain on the indy side will set up a career for you. Unless your name is on the SF Sign, you have nothing except the joy of assisting in someone else's retirement, earning a little and learning a little, until you reach that epiphany.

IMO... Go independent.

 

[Mike007]

Don't go work for State Farm full time. Leave. Go find an independent agency and work for them for the next year or so. You already know State Farm, now you need to experience beyond State Farm.

So when you have experience both side, you can make a better decision for your future. And that future is whether State Farm is in your future or Independent is in your future.

 

[Matthew Campbell]

I think it's great to see younger people getting into an industry of old dogs first off. I also think it's great that you have learned at least the feel of a working insurance office. I will say, that there is a natural progression, the more experience you get to move away from the captive world of SF or Farmers and the like, to the independent side of things.

Having started myself for a captive and done the migration, and seeing so many others do the same, I would advise you to seek out an independent agency when you graduate. Someone licensed, at your age (I'm assuming), with experience is gold to an agency owner. The experience you would gain on the indy side will set up a career for you. Unless your name is on the SF Sign, you have nothing except the joy of assisting in someone else's retirement, earning a little and learning a little, until you reach that epiphany.

IMO... Go independent.

Thanks for the help! Since how you have experience in both and I'm sure know many people in both, how would you compare lifetime earnings and quality of life between the two?

 

[BADTROUT]

There are so many variables when it comes to pay. Look at it as renting versus owning. When you leave SF, what do you leave to your children? Hopefully a bunch of wise investments. Or you can sell, perpetually earn a salary or merge your book as an indy agent, and you choose the outcome.

Would you rather consult, and find something within the confines of one carrier to find a fit or would you rather be able to transact business and consult based on the best interests of your client?

The confines of a captive are safe, but, do a survey and ask agents to choose between two choices.

Are you currently an indy agent looking to become a captive, or were once an indy and have already moved.

OR

Are you a captive considering an indy agency, or were you once captive but now you are indy.

I'd bet 10 to 1 in favor of the second choice. To further drive the point home Google how many SF agencies there are vs indy.

You'll have your answer.