Hi! So I recently started a new job at an insurance broker, it’s my first job in insurance. They sell/work with 17 different insurance companies. (progressive, safeco, nationwide, etc) I have my property and casualty license, however I’m starting out the first month as a lead aggregator making 500-600 calls a day to try and get leads transferred to our agents.
I’m supposed to start agent training next month, I’ve been doing some talking around about how the commission works there. The pay for agents is a base salary of $2000 a month,(like $12 an hour after taxes) and in order to make anything more than $2000, you have to surpass $35,000 in sales each month.
The company itself gets 40% of the commission for the sales, and you as the agent only get 15% of that. So basically every $1000 dollars you sell, you only get $60. And you don’t even get that until you’ve surpassed $35,000 for the month.
You do get 25% of renewals too. Like I said this is my first insurance job, but this seems very low to me. Can somebody please let me know if this is a normal pay structure or if I’m getting screwed over? Thanks in advance!
I also wanna throw in there that a worker told me they’ve been purchasing cheaper leads lately, so it’s even harder now for agents to hit the $35,000 mark each month. That’s also weird to me!
I’m supposed to start agent training next month, I’ve been doing some talking around about how the commission works there. The pay for agents is a base salary of $2000 a month,(like $12 an hour after taxes) and in order to make anything more than $2000, you have to surpass $35,000 in sales each month.
The company itself gets 40% of the commission for the sales, and you as the agent only get 15% of that. So basically every $1000 dollars you sell, you only get $60. And you don’t even get that until you’ve surpassed $35,000 for the month.
You do get 25% of renewals too. Like I said this is my first insurance job, but this seems very low to me. Can somebody please let me know if this is a normal pay structure or if I’m getting screwed over? Thanks in advance!
I also wanna throw in there that a worker told me they’ve been purchasing cheaper leads lately, so it’s even harder now for agents to hit the $35,000 mark each month. That’s also weird to me!
