- 11,996
Without knowing the whole picture, I'd pass on the deal. Allstate isn't a bad deal, commission only isn't a bad deal, but this deal looks like a bust.
Got Offered a Job at Allstate, Commission Only. HELP!
- Thread starter 5harro90
- Start date
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Expert
Can you give us some idea of how you'd drive sales? Do they give you access to their current base and expect you to contact them and do "yearly reviews"?, do they provide leads outside their current climate base, etc., what is the method of acquiring new customers?
- 4,716
I second this.
Someone needs to have some skin in the game besides YOU. I would at bare minimum require a $1500 per month for 6 months base to get going.
- 11,996
Or even just look for a salaried CSR position to start. I disagree that someone else has to have skin in the game, but there isn't really much money to be made as a producer at an Allstate office in nearly every situation. CSR doing some sales and getting a commission on business they bring in? Sure.
Most Allstate agents work hard to make little money so it's not a huge surprise when they want producers to do the same; to them it's normal.
- 4,716
Ok then so we both agree that this is a crappy deal. Fair enough.
- 11,996
Yup, just for different reasons
There are other deals where the "employer" has no skin in the game that it's a good deal for the agent, but considering that a CSR position can pay $10-$15/hour to begin with, the odds of an agent making more than that (and also not owning the book) are pretty low.
- 171
I'm in Oregon, and I have worked as a producer in an Allstate agency for several years here. It was okay for me, because I was paid a decent hourly wage, as well as compensation for sales. A lot of experienced producers would find it very hard to write enough premium with Allstate to make a living, based on the compensation you outlined. I'd strongly urge you not to relocate for this job. You'll burn through your 3k savings before you make a dime at Allstate. You need to learn the business, get licensed & appointed, so you aren't likely to make anything in your first three months. After that, you'd be doing well if you could sell 10k in written premium a month, which earns you only $1,000 a month. There's a good chance you would do worse.
You don't want to be broke, far from home, and working a job where you can't earn money. Unless you have another reason to move to Oregon, and some type of support system here, I'd stay where you are in California. As mentioned by others, if you can find a trainee producer position paying a base on which you can afford to live, go for it.
You don't want to be broke, far from home, and working a job where you can't earn money. Unless you have another reason to move to Oregon, and some type of support system here, I'd stay where you are in California. As mentioned by others, if you can find a trainee producer position paying a base on which you can afford to live, go for it.
Solid advice from someone who understands.
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- Thread starter
- #19
5harro90
New Member
- 11
I like what you said, you've been a producer and have gone through the experience. I'm guessing it must be difficult to meet premium (I'm new to insurance). I'm not looking to make a lot of money, If I made 30k a year, I would be fine. I guess I'm gonna talk to the agent, ask if there's at least a base pay, If not then I'll decline on the job. I obviously won't want to loose my 3k I've saved up.
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So I forgot to add this part:
0- $10k in written premium 10% of written premium
$10,001 - $15k 13% of written premium
$15,001- $20k is 17% of written premium
$20,001+ is 20% of written premium
(All retro back to the first of the month, so if you sell $18k in premium one month you will earn 17% of 18,000 plus item below)
-Also $15 for every multi line sale
-$15 for every life referral to ***** who is our Life Specialist
-Monthly Contests
-.5% bonus on written premium for every life policy that you refer ***** that is SOLD that month
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This is excellent advice. It's very true and furthermore, let's touch on the fact that the op seems to be a bit clueless about the business so his managing director (or whatever fancy name the boss has) is definitely going to succeed at making him feel like it's all his fault that he didn't make any money because he didn't have enough activity.
OP, I really, really, urge you to stay away from this. Those places hire anyone who will fog a mirror. These firms are little more than a multilevel company. They hire anyone who will fog a mirror so he can sell to his friends and family then burn out and quit. And even if he has no natural market (like you) it's still pretty damn profitable to have unpaid telemarketers work for you for a few months until they burn through their savings and quit.
