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Hello, sorry for all the bold but I just want to get straight to the facts for the people who may want to give advice, but not read through the whole thing.
Backstory: 25 years old, I come from a life insurance agent background, with a 6 and 63 but little to no investments. I am technically still at the captive agency based, of course, entirely on commissions. Long story short, I'm not making the kind of money I want, as well as having to drive 45 minutes on the highway, ever day, to get to work. And it's not in my hometown where I'd like to grow my book of business.
I've always been very interested in P&C from the start and as time has went on, I've officially decided to make the switch to an independent agency that offers life, P&C, and investments. The business has been around for 85 years and is family owned and run by the father, daughter, and the daughters husband. They also have 5 other employees (no CSRs, but clerical for claims, phone calls, etc). They also invest heavily into the community, both time and money, and are not only parts of various organizations but they win awards and stuff.
Anyway, I interviewed with them and honestly, it was a bit informal but homely. They said they were team-based, etc etc. I must have interviewed well because I got a call back to discuss compensation and details of employment for the first few years. Now, from what I gathered from the interview is that they want books with high quality business. And in his own words, said that can take a few years to build.
Would it be out of the ball park to negotiate $31,200 ($15/hr*40 hrs*52wks), health benefits, and two weeks of paid vacation to start? Of course, that's with all my business going to the agency until I make more than that with a quality book of business. Except maybe for life commissions because of how it works. Should I state that I think that's an appropriate salary for a college graduate in Finance? Or maybe that in order to bring in quality business, I need to be in a situation where I'm not pushing sales to put food on the table (so to speak), where that's business that will be prone to switch or have high claims rates, etc etc. Honestly, I'd negotiate for minimum wage, but that also doesn't pay the bills for me (but neither is being a life agent), and I'd like to "start" my life, so I'm just stuck right now as to how I should approach salary negotiations.
Please, if you have any suggestions I'd be greatly appreciative. Even if it's just a change in verbage or adding/getting rid of some things in what I might validate (if they even ask) such a starting salary. I'm already thankful for the opportunity so I don't want to insult the owner by asking for too much. Just making sure my offer isn't too far out there. Thank you.
Backstory: 25 years old, I come from a life insurance agent background, with a 6 and 63 but little to no investments. I am technically still at the captive agency based, of course, entirely on commissions. Long story short, I'm not making the kind of money I want, as well as having to drive 45 minutes on the highway, ever day, to get to work. And it's not in my hometown where I'd like to grow my book of business.
I've always been very interested in P&C from the start and as time has went on, I've officially decided to make the switch to an independent agency that offers life, P&C, and investments. The business has been around for 85 years and is family owned and run by the father, daughter, and the daughters husband. They also have 5 other employees (no CSRs, but clerical for claims, phone calls, etc). They also invest heavily into the community, both time and money, and are not only parts of various organizations but they win awards and stuff.
Anyway, I interviewed with them and honestly, it was a bit informal but homely. They said they were team-based, etc etc. I must have interviewed well because I got a call back to discuss compensation and details of employment for the first few years. Now, from what I gathered from the interview is that they want books with high quality business. And in his own words, said that can take a few years to build.
Would it be out of the ball park to negotiate $31,200 ($15/hr*40 hrs*52wks), health benefits, and two weeks of paid vacation to start? Of course, that's with all my business going to the agency until I make more than that with a quality book of business. Except maybe for life commissions because of how it works. Should I state that I think that's an appropriate salary for a college graduate in Finance? Or maybe that in order to bring in quality business, I need to be in a situation where I'm not pushing sales to put food on the table (so to speak), where that's business that will be prone to switch or have high claims rates, etc etc. Honestly, I'd negotiate for minimum wage, but that also doesn't pay the bills for me (but neither is being a life agent), and I'd like to "start" my life, so I'm just stuck right now as to how I should approach salary negotiations.
Please, if you have any suggestions I'd be greatly appreciative. Even if it's just a change in verbage or adding/getting rid of some things in what I might validate (if they even ask) such a starting salary. I'm already thankful for the opportunity so I don't want to insult the owner by asking for too much. Just making sure my offer isn't too far out there. Thank you.