Agent/Financial Services Rep
Pros
The training is great. Having your own schedule (except for mandatory training and mandatory meetings here and there). Possibility of making great income with no ceiling.
Cons
They sell the $$ dream very big. You need to find wealthy clients and get them to give you referrals to more wealthy people. You only make commission here, no base. If you sign up someone for a contract and they pay $50 (or whatever number they pay) for it, multiply it by 6 and thats your commission. So for this example you make $300. You also have mileage reimbursement of up $1000 for the month. You have case rate bonus: for every person you sign up to life insurance you get an additional $75 up to 6 people for the month. So thats another $450 you could make, but you can only trigger this if you get a least 3 to sign up for the month. You also have something called Training Allowance, which is a bonus of up to $2,800 your first year per month. So lets say you made $5000 on commission for the month. You multiply it by 80% and that your Training allowance for the month. In this example it would be $4000 but you would only receive your max of 2,800 that month. So as you can see, very lucrative, but only if you sell sell sell!! THEY MAKE YOU SELL TO YOUR FRIENDS AND FAMILY. And you will more than likely be buying policies on yourself to make commission and to qualify for events which isnt good to do. You invest in them before they do in you. Its all about selling, they do not give you leads, only if you have been with the company for some time and qualified for certain income numbers by year end. Life insurance is unfortunately something that people are not interested in right now. especially young people. So you will be having to do a lot of convincing to people. Everyone should have it, but its not a marketable product. And its hard to position because yes, they should have the life insurance, but yes you also need to be making your money, so its a hard thing to do with close people and the business. They could sometimes feel that, and you could get desparate at times and ruin some close friendships at times. Its also awkward because you will be calling some people that you havent talked to in years, and they will be surprised as hell that you are calling them....and that you are calling them all of sudden, due to business! And there is no way around it, they will know. So if you could get past all of that, and being on the phone asking people for apppointments, then youre good. If you dont want to call your friends and would like to cold call so be it. You dont need a college degree for this position, so if you dont have one, then its something great to do, if not, get some education and find a position where you can grow and move up in this world. These companies have high turnover rates, only very few make past one year, and if those make it, they leave by 5 years. Only very few retire here. All the best!
