How Are You Compensated?

sunbloom, chill out.

His is probably only 10% too, We are talking about him getting 50%-65% of the 10% commission.:D
 
Problem with giving your current boss an ultimatum, which is what you need to do for him to take you seriously (he is not going to just drop his pants because you ask nicely), is that if you don't have a Plan B available if he says forget it, then you are left in a weakened position. Do some serious research in your area before approaching your boss; he probably has. Even if you don't have another offer, you need to be sure that 50% is low for what your agency offers in support. Nothing worse than having your bluff called because there are no better offers. Yes, you can strike out on your own, but forgetting about getting all of your contracts and infrastructure in place, how many of your clients are going to leave an established agency to follow you to a brand new one man shop? How much new business are you going to be able to pursue when you are setting up shop and doing all of the administrative work that used to be handled by others? Something to think about.

By the way, in my neck of the woods, for a good agency that offers a lot of support and value added services that makes it an asset to your sales and retention, 50% is on the high side.
 
I work for an independent Employee Benefits Brokerage and I do group plans and individual health, life and disability. I am paid as an independent contractor and our arrangement right now is I get paid 50% of the revenue I bring in across the board. I am provided an office and I can pass on some admin to the paid staff and I get about $2000 worth of reimbursements a year for health insurance and E&O. I have been at it about 7 years and I am trying to get a better deal or go out on my own. I don't have a non-compete. What is normal in this industry. Thank you in advance for any input.


jump ship, he's not doing anything really for u, go full independent. Dont let emotional factors like a past working history get in the way of profits.
 
I agree. What I have is 10% of the premium and rest split 70% to me rest to company for the licensing cost. I have no admin no support whatsoever. Which suits me fine so long as there are no interference to my work
 
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