Morality in this Business when It Comes to Recruiting

[BYSFG]

Crudely put, how messed up are some peoples moral compass to have job postings hinting that a new agents can make a take home of $100k/year and $300k at a "manager" level their first year with/after training?

Like really?

Anyone here know of anyone to have achieve this feat.?

I guess its possible?

 

[Cash]

Not sure what you mean here.

 

[BYSFG]

Not sure what you mean here.

Job openings and description stating how someone, fresh licensed can take home $100k their first year...or more...

I doubt anyone here does this but Im sure everyone has seen outrageous job postings as such before.

 

[HoosierLife]

Job openings and description stating how someone, fresh licensed can take home $100k their first year...or more... I doubt anyone here does this but Im sure everyone has seen outrageous job postings as such before.

It's possible. Just not very likely for 99% of new agents.

 

[Damion]

I am curious what makes you think this is not possible.
As someone who is considering opening a new agency, and has the skills to generate leads and sell, I feel fairly comfortable in my ability to do it once I understand a few of the ins and outs.

Anything I am perhaps overlooking?
Because from what I have seen, at least on the life side, it looks like it is mathematically possible if you have the skills and desire to do so. what am I missing?

 

[BYSFG]

It's possible. Just not very likely for 99% of new agents.

Must be targeting/fishing for break out agents then. I somehow just fail to see, as you put, not likely for 99% of the new agents, why they should use such unrealistic numbers.

Maybe I answered my own question.

I am curious what makes you think this is not possible.
As someone who is considering opening a new agency, and has the skills to generate leads and sell, I feel fairly comfortable in my ability to do it once I understand a few of the ins and outs.

Anything I am perhaps overlooking?
Because from what I have seen, at least on the life side, it looks like it is mathematically possible if you have the skills and desire to do so. what am I missing?

Youre probably that 1% of new agents then that Hoosier was talking about then.
Just going through product training, licensing, getting appointed and all that other good stuff, those recruiting ads just seem a bit preposterous to be included/targeted for new agents.

Maybe its a little more possible for career agents with a minor salary base?

 

[sman]

I am curious what makes you think this is not possible. As someone who is considering opening a new agency, and has the skills to generate leads and sell, I feel fairly comfortable in my ability to do it once I understand a few of the ins and outs. Anything I am perhaps overlooking? Because from what I have seen, at least on the life side, it looks like it is mathematically possible if you have the skills and desire to do so. what am I missing?

What you're missing is the difference between theory and reality. The hardest part about this business is getting a steady flow of qualified leads. And unless you've sold insurance, generating leads for an intangible product is different than generating leads for a tangible product.

This isn't to say it's impossible to earn six figures your first year in the business. But it's definitely the exception and not the norm. There is a very high failure rate in this business. So the numbers say that making six figures in the first year isn't very likely for most new agents.

 

[rousemark]

Job openings and description stating how someone, fresh licensed can take home $100k their first year...or more...

I doubt anyone here does this but Im sure everyone has seen outrageous job postings as such before.

It is possible.. I have known first year agents that made $100K net... However, it is very rare.

 

[DHK]

Hire 'em in masses,
Teach 'em in classes,
Sell all their family and friends,
and fire their ***es (or rather wait for them to quit when they run out of easy sales).

An Employment Scam in the Financial Services Industry > HOME

This is how these recruiting agencies find their cases... and for learning, they split the case with a senior agent, so they're earning even less. Plus, most senior agents don't know how to train and/or working at a higher level of financial competence, so it creates a relationship of dependency on the senior agent.

They rationalize it by saying "working with the senior agent should create a much higher sale so you'll net a higher commission than not working with the senior agent." But if you cannot learn from them, when does the cycle of dependency end?


BTW, any recruiter that promotes "management" over being an advisor... is intentionally hiring people who won't like to prospect and sell... because they'd rather manage other people to do the prospecting and selling. I've seen this in a group interview with a lot of college graduates (actually it was a presentation because you weren't to ask questions, but participate - classic 'MLM' tactic) and it was disgraceful.

If you want to know 'average' incomes, look with the Bureau of Labor and Statistics Occupational Outlook Handbook. The only way to rise above the "average" statistics is to have above average training, skills, work ethic, and philosophy towards the business.

Home : Occupational Outlook Handbook: : U.S. Bureau of Labor Statistics

 

[Damion]

What you're missing is the difference between theory and reality. The hardest part about this business is getting a steady flow of qualified leads. And unless you've sold insurance, generating leads for an intangible product is different than generating leads for a tangible product.

Generating leads is generating leads, regardless of the tangibility. I have no problem in lead generation - it is what I have been doing for my clients in many industries (both with tangible and intangible products/services).

I guess the biggest question I would have up front is lead volume to sales ratio. What would you say the closing ratio of a starting life agent with above average sales ability would be?