Hey all, I was wondering what a new recruit should expect for a sales agent position at a business such as Mutual of Omaha. Their products are for both individual and employers, they do not sell home and auto. I have pretty much decided they are a fit for me based on what I have read but I have not seen much on expectations for commission. Hopefully soon I will be in the interview where they talk with me about that and I would like to have a frame of reference. Another important question I have is who the owner of the book of business, if later down the road I wanted to go independent and start my own business would I have to start from scratch? Do people realistically leave after putting in a few years with a firm or do they just ask for raises? Thanks so much!
What should I expect starting out?
- Thread starter Lantis
- Start date
You will need to generate the majority of your leads. They may give you a few orphan clients and a few leads. With many of the companies if you leave the company you lose all renewals. Sometimes it depends upon whether you sign as an employee or as a broker. At companies like Northwestern you walk away and leave it all behind. The "asking for a raise" statement indicates you do not understand the sales position that this is. You generate your own raise by selling more. This generates more commission dollars and may move you into a position to receive incentive bonuses or higher commision payouts.
My advice is to study this forum really well and learn all you can before you make the plunge. MOO is probably a good company but you need to understand what you are getting into. Another forum that I learned a ton from is topgunproducers although there are those who can stand the moderator there.
- Thread starter
- #3
There is only limited room for negotiation. That you ask that tells me you don't have a clue about what is involved in this business and you need to really study this board and the other one I referenced. If you do it will save you a lot of grief. If you don't you will learn the hard way like most of us have.
If you start out with a company that pays some type of salary to help you get started there may be room to negotiation the amount. If you are Indy there may be room to negotiate commission percentages or you can hunt and find the FMO or GA that gives the best payout on a product. But the ability to negotiate is dependent upon having something to negotiate from (i.e. a track record of sales production). If you are an employee most companies will have a fixed compensation structure and there is no negotiation.
How old are you? You sound really young. What kind of education, experience, background?
- Thread starter
- #5
So
far I believe I want to start with 100% commission because I have money
saved to carry me over till I start making enough to live off of. I had
been wondering if there was usually a commission schedule that is set
or if it is a negotiable item. I am posting on here to try to and find
out more about the things I can't find on the board, I know there are
still lots of holes in my knowledge of the industry.
Its true that I am young, I am 22 years old. I graduated from a 4 years
school this last year and now have a Bachelors in business
administration and a minor in econ. I have worked in sales before but
it was a long time ago, at least I have had a history of working
though. I know I have lots to learn and thats why I am here asking for
help
tell me all you know!
far I believe I want to start with 100% commission because I have money
saved to carry me over till I start making enough to live off of. I had
been wondering if there was usually a commission schedule that is set
or if it is a negotiable item. I am posting on here to try to and find
out more about the things I can't find on the board, I know there are
still lots of holes in my knowledge of the industry.
Its true that I am young, I am 22 years old. I graduated from a 4 years
school this last year and now have a Bachelors in business
administration and a minor in econ. I have worked in sales before but
it was a long time ago, at least I have had a history of working
though. I know I have lots to learn and thats why I am here asking for
help
tell me all you know!- 2,103
did you get licensed yet? what state are you in? I think mutual is good in most states. depends on the mgr. also, I think they start you out on a probation type deal, to see if you work out. I think. also, there may be two or three different contract deals, who knows. check it out, ask about the different contracts. If I were you: I would not "let on" that you want to take your book of business elswhere, they may not like that. They kind of like to keep their clients.
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- 6,026
Just remember - 100% of nothing is nothing . . .
75% of a lot - is a lot ! ! !
It's about producing. Plenty of people will give you 100%. How many of them will hold your hand while you learn & earn?
Good luck to you.
Tom
75% of a lot - is a lot ! ! !
It's about producing. Plenty of people will give you 100%. How many of them will hold your hand while you learn & earn?
Good luck to you.
Tom
- Thread starter
- #8
Home service, thanks for the feedback on MoO. I am not licensed yet, that is the first step MoO will have me take if I sign up with them. I am in Oregon so there is plenty of licensing to look forward to. I did not mean to sound like I am taking the training and running, I was just curious if it was possible to part ways if I wanted to open my own place. I know they wouldnt be crazy for that plan! haha
Myinsurancebiz, I understand what your saying and I agree, I just want to set myself up at a place I will be happy with for a while. (assuming I make it since planning to fail isnt worth too much either) I am pretty clueless, as others have pointed out, on commision levels starting out and I want to be prepared if I get an offer
Night all
Myinsurancebiz, I understand what your saying and I agree, I just want to set myself up at a place I will be happy with for a while. (assuming I make it since planning to fail isnt worth too much either) I am pretty clueless, as others have pointed out, on commision levels starting out and I want to be prepared if I get an offer
Night all- 2,103
Well, I know little about Oregon, I have been in TX almost 20 years, but, I have to imagine that with Portland being a big thriving city and all, that Oregon can and will be good for Mutual. I have a good friend or two in Portland and they tell me the economy is going well, as of a few years ago it was, anyhow.
Here is the deal: And I would tell anybody this, anywhere in the country. You have got to find a niche that you like, and become that #1 person in your field, become the master of that niche. Even if it is really "only in your mind", become the greatest, in your mind. Learn it and live it. Then, the money will follow. In other words, the mere fact that you are out there, and are positive about what you are doing and you know what you are doing- that attitude shows through to the client, and your manager, and things are a lot easier for you.
You have to work it, you have to know it, but things fall into place a lot easier if you master it. I figured it all out in like, say- 6 months- at Mutual. It can come quickly, it does not have to take 20 years. But, especially for the first month, while I was new, I had very good hands on training, a good manager, and the training continued the whole time I was there, but the "hands on" portion of it got to be less and less, as I figured it out on my own.
Here is the deal: And I would tell anybody this, anywhere in the country. You have got to find a niche that you like, and become that #1 person in your field, become the master of that niche. Even if it is really "only in your mind", become the greatest, in your mind. Learn it and live it. Then, the money will follow. In other words, the mere fact that you are out there, and are positive about what you are doing and you know what you are doing- that attitude shows through to the client, and your manager, and things are a lot easier for you.
You have to work it, you have to know it, but things fall into place a lot easier if you master it. I figured it all out in like, say- 6 months- at Mutual. It can come quickly, it does not have to take 20 years. But, especially for the first month, while I was new, I had very good hands on training, a good manager, and the training continued the whole time I was there, but the "hands on" portion of it got to be less and less, as I figured it out on my own.
- Thread starter
- #10
From everything I have read about Mutual of Omaha it sounds like they are a pretty good company to work for. I am very excited to start working in the field, now I just have to hope they want to hire me. Judging by the first interview I think they are very interested in me as well. Finding a niche sounds like a good strategy. Would you switch between products tll one felt right or would you study them and just focus on the one you knew the best?
- - - - - - - - - - - - - - - - - -
From everything I have read about Mutual of Omaha it sounds like they are a pretty good company to work for. I am very excited to start working in the field, now I just have to hope they want to hire me. Judging by the first interview I think they are very interested in me as well. Finding a niche sounds like a good strategy. Would you switch between products till one felt right or would you study them and just focus on the one you knew the best?
- - - - - - - - - - - - - - - - - -
From everything I have read about Mutual of Omaha it sounds like they are a pretty good company to work for. I am very excited to start working in the field, now I just have to hope they want to hire me. Judging by the first interview I think they are very interested in me as well. Finding a niche sounds like a good strategy. Would you switch between products till one felt right or would you study them and just focus on the one you knew the best?
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