I'd like to hear from anyone who works for LM or has worked for them in the past who can give me an idea about what kind compensation package salary + comm+bonus, etc. they offer new agents in first year and what kind of money I can expect to earn assuming I'm making my numbers by my third or forth year of employment. Also, if and when i leave will they buy out my book of business?
Liberty Mutual Compensation Question
- Thread starter plays2win
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I don't know what the current comp package is, but I do know that you don't own your book of business. You are a sales rep. You sell and train your customers to call the service reps when they need anything. That way, none of them will even know you are gone (as LM knows you will be).
This was my experience, years ago, with the personal lines side.
YMMV
This was my experience, years ago, with the personal lines side.
YMMV
- 414
I'd love to help you with this as I am getting ready to go into the office. Liberty Mutual is a great place to start your career and put in 2-3 years. The carriers I'm talking to now actually love dealing with former captive Liberty reps
.As far as compensation goes, your salary during training will be $35-45k based on your area. Once you start selling your base will be $20-25k with 10% auto 13% home and 20-30% life commission paid up front on annual premiums. That's very low compared to independent commissions but they pay for your marketing, office, etc.
I've made over $100k the last 2 years but here's the catch: YOU DO NOT OWN YOUR BUSINESS AND YOU GET PAID 1.3% ON RENEWALS. Do it for a few years then start your agency or go work for an independent agent where you can keep your business.
