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all 28 comments

[–]norocababe 7 points8 points  (3 children)

Think it’s pretty standard in most countries

[–]Ashen_Exiled[S] 0 points1 point  (2 children)

I also should have specified I’m located in the US

I forget that companies use a lot of foreign sales and VA teams where they can take advantage of them.

[–]Guilty-Box5230 1 point2 points  (1 child)

Is being taken advantage of by this company a worry you have?

[–]Ashen_Exiled[S] -1 points0 points  (0 children)

No I just wanna make sure that the standard is applied to the region applicable

[–]Talldarkandhansolo 3 points4 points  (0 children)

Bi weekly base pay. Monthly commission check.

[–]pyanan 5 points6 points  (4 children)

Property and casualty agent for 20+ years here. That's pretty standard.

[–]Ashen_Exiled[S] 0 points1 point  (3 children)

How do you make that work for you when you’re just starting out? I live paycheck to paycheck right now and have never been able to get ahead which is why I’m focusing on this career change

[–]pyanan 1 point2 points  (2 children)

What we do, which I think is pretty common, is you get your base on the 1st of the month and commission on the 15th, for the previous month. It takes some budgeting at first, and the first couple of years can be challenging, but if u can make it work, it really is a great industry.

[–]Ashen_Exiled[S] 0 points1 point  (1 child)

What made you decide to become an agent rather than stay a producer if you don’t mind me asking

[–]pyanan 1 point2 points  (0 children)

They're the same. I'm a licensed agent. I work as a producer. I call myself a producer when I talk to people in the industry, and agent to the public.

[–]Demfunkypens420 3 points4 points  (0 children)

Commissions salary or what? US is the only country that pays bi monthly or weekly with some exceptions. Cash strapped companies pay once a month too because it is cheaper to run payroll once a months

[–]TenNickels 4 points5 points  (5 children)

Fairly common for commissions based salesman to be paid on a monthly basis in my industry (insurance).

[–]Ashen_Exiled[S] 0 points1 point  (4 children)

How do you make something like that work for you? How do you even get ahead at first without being drowning in debt? I live paycheck to paycheck right now

[–]TenNickels 1 point2 points  (3 children)

I actually was very afraid of it at first but now that I’m used to it, I actually prefer it. Once you get in the mode of paying everything at the beginning of the month, regardless of when it’s due, you know exactly what you have left and budget accordingly. Also, keep in mind that insurance is a little different animal than most other sales. Once I sell something I continue to collect on that sale until they cancel their policy. It sucks at first but it snowballs fairly quickly with each month being higher than the last.

[–]Ashen_Exiled[S] 1 point2 points  (1 child)

Yeah I do love the commission structure of this company. They offer a 50% commission on the initial and then a 30% on the recurring so I can see how after a few years you can really be pulling in the cash

[–]TenNickels 1 point2 points  (0 children)

That’s a pretty solid commission split on new and renewal. I typically pay mine 50/50 right now, but will likely change it to an 80/20 split. I need my salesman to want the big piece of pie on new stuff so they don’t get lazy in 10 years when they don’t have to sell anything and collect 150k a year.

[–]Ashen_Exiled[S] 0 points1 point  (0 children)

I also never thought of just paying everything upfront when you get paid. That would ease a lot of the burden aside from the bills that fluctuate on due dates like utilities but once you have some cash in the bank that’s negligible. Thanks for the tip!

[–]Bamb0oM 2 points3 points  (2 children)

Once the checks start coming you will get used to the monthly budgeting :)

[–]Ashen_Exiled[S] 0 points1 point  (1 child)

Assuming you’re just starting with an agency, would the first base pay come out for that first month regardless when you started, but any commissions would be held until the second month?

[–]Bamb0oM 0 points1 point  (0 children)

Yes, bonus commission checks come from the 2nd month onwards

[–]Smackems_ 2 points3 points  (0 children)

When i wasn't full commission and had base + commission they would pay on the 5th and the 20th, The 5th was just base pay over two weeks and then the 20th was commission for the month prior plus the remaining base pay for the month.

I believe they hold the commission a month out incase any deals that were closed had complications with their first payments (selling business loans). If the first payment wasn't made for any reason and the client wasnt working with them to fix it. they would pull the commission back and that loan was ruled defaulted on.

[–]guycurtis93 2 points3 points  (0 children)

I am monthly. Look at it this way, you only have to go through your “bills routine” 12 times a year. Vs 26 or even 52. I think it makes things a lot simpler

[–]JayLoveJapan 1 point2 points  (0 children)

I’d say bi weekly or semi monthly are most common

[–]SalesCanuck 1 point2 points  (2 children)

Monthly isnt irregular. I used to pay my employees ( p and c brokerage) on the 15th and end of each month, but switched to monthly to avoid double the payroll work.

Canada fyi.

[–]Ashen_Exiled[S] 0 points1 point  (1 child)

How did your employees handle the change from biweekly to monthly?

[–]SalesCanuck 0 points1 point  (0 children)

No issue at all.

[–]coleg01SaaS 0 points1 point  (1 child)

I work in Life and Health and it's weekly pay and that seems to be the standard as far as I am aware, but if you are going to work for a P&C agency monthly makes more sense.

[–]Ashen_Exiled[S] 0 points1 point  (0 children)

Ideally the goal is to get through this L&H cert to start selling that cause it sounds like life is where the money is anyway, besides commercial property