Need Help on My Insurance Career

[insurancerook]

I posted a reply in the becoming a state farm agent i need help on my decision and no one replied. So in this thread I will re write it and hope to get some answers.

ok so here is the my situation guys i hope you can help. I am a college student 20 years old graduating next march/apr. Recently I have been going on various interviews to see where my career lies. I do not have kids nor a wife. Single and living at home looking for doors to open up. I think going the insurance route will be good for me to start out. Recently I went to a state farm interview and talked to an agent that was going to hire me.
He loved how enthusiastic I was and said I can really do good. Now, he then said I would have to take the P&C, life and health insurance licensing for my state(New Jersey by the way). He said that State Farm pays for it if working full time. So i gave him my availability which is tues thurs fri sat fully flexible. That causes me to not be full time because i have class on Monday including a night class and on Wednesday I get out at 1 or 2:30. So he told me to search schools that would let me do it at the evenings from 6 to 10. I received a call from him the next day giving me a proposition and have me think about it. His proposition was he would bring me in part time paying like12/hr and hire someone full time instead because he really needs someone.
He believes by hiring me part time I can get my feet wet and learn what to do when the time comes. Then he said that by April I have to be licensed and he will let his full time person go and I will take her spot he will let her go because he doesn't think she can grow with the company and although she is licensed she doesn't have half of the potential that i have but in order to do this i will have to be licensed.
Now here is the dilemma the class cost 450 dollars for the P&C if i do the life and health insurance it will be $650 all together. I am a college student and do not have that money to fork out because he can't pay for it because I will be part time not full time. He said if i do pass when he brings me on full time I will be reimbursed. My question to all of you out there that have experience is it worth it? Also I see the P&C life and health licensing as a credential to add to my resume and if my career doesn't work out at state farm I can go elsewhere and be highly marketable in the financial/insurance industries. Is this a good idea will it build my resume and help me for future jobs? I am trying to get my foot in somewhere and he said to me that full time pays 28-30k a year and that is ok for me for someone who doesn't have experience in the real world/corporate field. I am very persuasive and persistent and believe that I have what it takes to make money. Is this something I should do or not and what would be a good idea? Thanks

 

[moonlightandmargaritas]

Your question has nothing to do with becoming a State Farm agent. It has to do with going to work for a State Farm agent. big difference!

 

[insurancerook]

o ok i see i understand now. I was a little confused about the agent part so what will i be labled as a team member?

 

[insuranceexec]

o ok i see i understand now. I was a little confused about the agent part so what will i be labled as a team member?

Part-time help.

 

[AuroraRedwinters]

Maybe I am the only one who thinks it's kind of suspicious that he would let the full time person go he just hired the same time as you just to make you full time. I mean, he says she doesn't have the same "potential", but I still think it sounds rather shady.

 

[SportsNut]

Maybe I am the only one who thinks it's kind of suspicious that he would let the full time person go he just hired the same time as you just to make you full time. I mean, he says she doesn't have the same "potential", but I still think it sounds rather shady.

Suspicious... I don't think that, but I think it is odd that the agent would discuss letting any employee go with a potential part-time hire... Highly unusual...

The bus owner is freee to hire and fire who he wishes, as long as no discrimination is involved, but to discuss this with anyone else potentially opens some liability, and at the very least casts a veil of poor judgment over the agent.

What are you going to do when this same agent/employer is discussing terminating your full time job, with his next part-time boy wonder...?
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So he told me to search schools that would let me do it at the evenings from 6 to 10.

There is NO requirement to go to school... all of the prelicensing training can be done through home study courses. Most of them have online study and practice tests. While I am not sure about P&C (in fact I can hardly spell that), I know the L&H home study courses can have you ready for the test in a matter of 2-3 weeks.

Check with License2Go, as they appear to offer both courses for 295 bucks, based on a quick peak.

 

[insurancerook]

I did some research about the online classes but I am in college and have to pay for other things. I am just not financially ready to shell out that kind of money as of right now. Classes at school plus classes for this is a little bit too much maybe I can work out a deal with him this week and see if I can stay part time until I graduate next year if he really has that much faith in me as he claims he does.

 

[Josh]

I did some research about the online classes but I am in college and have to pay for other things. I am just not financially ready to shell out that kind of money as of right now. Classes at school plus classes for this is a little bit too much maybe I can work out a deal with him this week and see if I can stay part time until I graduate next year if he really has that much faith in me as he claims he does.

My 2 cents:
I'm not sure what the laws are in your state, but in NY you can be part time help without being licensed. Is he going to pay you well? If he does think you're a promising enough candidate to pay for everything then it's probably a great way to get started. If you want to go through the work involved in becoming a licensed P&C agent you should talk to some other agencies and see if they'd be interested in you. Most State Farm agents, if not all, are completely captive and can't sell anything other than State Farm. That's a big limitation to put yourself with if you're not going to be paid well on an hourly basis.
P&C is a slow and time consuming business to grow unless you're doing commercial lines. Will he have you on salary only or on a salary plus basis?
My first month in the insurance business I made $7k selling life insurance. Granted that was full time, you might be limiting your earnings potential if you start a career in the P&C field, especially if it's working under a captive agent.

 

[robyn]

Sounds fishy to me. I think you could find a better opportunity elsewhere. I don't know why someone would tell you they were going to fire the other person. Odd.
At my agency, I pay for my staff's licensing classes and training costs. I think it is a lot of money for you to spend not knowing if you will have a secure position. It will look good on your resume if you look for another insurance position, but they won't reimburse you any of the costs.
My thoughts are to start self studying for the licensing. Look for a full time position once you can take one, have the agent you work for pay your costs without risking your money currently.

 

[insurancerook]

My 2 cents:
I'm not sure what the laws are in your state, but in NY you can be part time help without being licensed. Is he going to pay you well? If he does think you're a promising enough candidate to pay for everything then it's probably a great way to get started. If you want to go through the work involved in becoming a licensed P&C agent you should talk to some other agencies and see if they'd be interested in you. Most State Farm agents, if not all, are completely captive and can't sell anything other than State Farm. That's a big limitation to put yourself with if you're not going to be paid well on an hourly basis.
P&C is a slow and time consuming business to grow unless you're doing commercial lines. Will he have you on salary only or on a salary plus basis?
My first month in the insurance business I made $7k selling life insurance. Granted that was full time, you might be limiting your earnings potential if you start a career in the P&C field, especially if it's working under a captive agent.

well if i am part time he says he can only afford to pay 12/hr and most likely if i am part time i will not be selling anything because i dont have the licenses. Full time he said between 28k to 30k plus commision. That seems fair to me i mean since i am in college and graduating next year.