What Should I Expect

[insurancedude123]

I wanted to seek the advice of more seasoned insurance agents on this fourm on a new job oppurtunity for me...


I have been a producer for a mom and pop agency making just comission for about 5 years. Needless to say I have had some success, and started testing the waters with other agencies..just to see what was out there.

I got a call from a very Large broker the other day interested in talking to me. The position I applied for is an Account Executive.

Now the interview is in a couple days, and I have no idea how to handle the question of salary.

Do most large brokerage firms offer a salary??

Is it just comission plus a bonus if you hit sales marks?

To be honest. I dont know what to ask for. I def. dont want to undercut myself and ask for a certain amount, but then again I dont want to ask for to much.

How is pay normally handled at Larger Brokers/Agenices?

Any advice would be greatly appreciated.

 

[STIBROKER]

which is a fancy word for insurance salesman......

I got a call from a very Large broker the other day interested in talking to me. The position I applied for is an Account Executive.

 

[WinoBlues]

I would listen more, speak less.

Ask what the job entails and what is expected of you. Ask them what they are offering in compensation.

They are going to be feeling you out as well.
- - - - - - - - - - - - - - - - - -

which is a fancy word for insurance salesman......

I like "Special Agent" Then every one would know that I am special.

 

[xrac]

I would listen more, speak less.

Ask what the job entails and what is expected of you. Ask them what they are offering in compensation.

They are going to be feeling you out as well.......

Exactly! Who ever names the first prices loses. Let him offer and then get back to him with either your acceptance, counter proposal, or rejection. Once you know what is offered run it by on here.

 

[2112Greg]

It would be weird for you to name the salary, but if it DOES come back on you somehow, answer with a question, but don't nail down a number. Say something like, 'what is the salary RANGE that account executives in this position can expect?' Or something like, what is the range of salary that people in my position could anticipate.'

Something along those lines.

If you nail a number down, guess what, that's your salary. And if you lowball it, welcome to hell...

As was said above, speak less, listen more and when you do speak, ask questions.

 

[Crabcake Johnny]

...what winoblues said....listen. Just your gut instinct at the interview will be right 99% of the time.

After that, you want to ask about their sales goals for your position and compensation for those products. Without a base pay that'll tell the story.

For example, I was offered a position at Nationwide to sell auto for 5% and their goal was for me to write 2 policies a day. No base pay.

So, what's the average auto premium? Say $1,200 which would be $12,000 a week X 5% = $600. Obviously I had to turn that down.

Beyond that you're going to want to know, in detail, how you gain business. Nationwide, for example, wanted me to go through their book. While that's fine...then what.

 

[houcoogster]

The bare minimum base pay should be 36k, any less and they are slumming.