The base pay is low for all the jobs you are asked to do. Essentially, you have to be an underwriter, collector, insurance salesperson, customer service representative and financial advisor. The job should realistically be a 50k base plus commission, but it is not. You are expected to sell insurance, and have a goal to do so, even if you really shouldn’t be selling insurance, because most of us are not licensed. That’s why we cannot get a commission on credit insurance products. State law usually prohibits commissions on insurance sales if you are unlicensed. The CFPB made it pretty clear we aren’t supposed to be forcing these products onto customers, yet we are still expected to sell 1.26 products to each customer. The commissions for writing new loans (individual) and hitting delinquency (branch) used to be much better, but now hitting and exceeding goals means you’ll get a bonus of about $500-$800 per month. Nothing to really get excited about. Also, every new employee that gets hired will make more than you. The person you are expected to help and train and give up your time for comes in from the beginning making more than you. Because the yearly raises are so low, that new person who will never have as much experience as you do will always make more money than you do. Expect to work some late nights, and at least one or two Saturdays per month for collection calls.
