Commission Structure, Good??

[BMortonSQAH]

I just started working with a company called Select Quote Auto and Home. We get paid a very meager base salart of like 30k per year or something close to that; however, the commission structure is such that I make 7.5% on every dollor of written premium... Is that a good gig? Thanks...

 

[WinoBlues]

I just started working with a company called Select Quote Auto and Home. We get paid a very meager base salart of like 30k per year or something close to that; however, the commission structure is such that I make 7.5% on every dollor of written premium... Is that a good gig? Thanks...

When I started in business my commission was 50% as earned and $0 salary. But I got a cubicle and a box of cards.

 

[VolAgent]

When I started in business my commission was 50% as earned and $0 salary. But I got a cubicle and a box of cards.

You were also selling life and investments, not home and auto. No one is going to get 50% on home or auto premiums.

Actually it doesn't sound that bad depending on a few things. Your base means you make more than about 30% of the agents out there already. The questions are, who pays for marketing, do you get renewals, and what is your quota?

 

[NCAgent]

I just started working with a company called Select Quote Auto and Home. We get paid a very meager base salart of like 30k per year or something close to that; however, the commission structure is such that I make 7.5% on every dollor of written premium... Is that a good gig? Thanks...

a 50/50 split on NB and Renewals with a 30k salary is actually pretty nice. It's definitely something to consider. Most commissions on insurance are 10-15% so you are doing decently.


30k isn't much in CA but it's still good to have while you learn and make mistakes.

 

[WinoBlues]

You were also selling life and investments, not home and auto. No one is going to get 50% on home or auto premiums.

Actually it doesn't sound that bad depending on a few things. Your base means you make more than about 30% of the agents out there already. The questions are, who pays for marketing, do you get renewals, and what is your quota?

I agree, sounds like a nice place to start. $2,500 net a month, before commissions, is probably more than 50% of new agents.

My guess is SelectQuote does the marketing and no renewals or vesting.

 

[Josh]

That doesn't sound like a good deal, it sounds like a GREAT deal.

 

[Guest]

I agree, great deal but I'll add (or ask) how long can you ride the salary if you struggle?

Meaning, NO ONE will keep feeding you leads and paying a salary if you don't sell. Just as a heads up.

Wish you the best!

That doesn't sound like a good deal, it sounds like a GREAT deal.

 

[WinoBlues]

I agree, great deal but I'll add (or ask) how long can you ride the salary if you struggle?

Meaning, NO ONE will keep feeding you leads and paying a salary if you don't sell. Just as a heads up.

Wish you the best!

Now that was a buzz kill.


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