Have an Offer to Work with Agent...should I Take It?

[WDG]

In my mid-twenties, would be fourth-generation insurance. My father and before him have been successful insurance brokers with commercial P&C but the companies hiring these brokers are feeding from college programs. I earned a B.A. in Journalism so can't go that route.

I've been in retail sales for going on two years and want a change. A friend introduced me to an independent agent representing Erie. He is a very nice guy, successful with his agency of seven years or so. After meeting with him he invited me to study for the state exam and help with his agency. We haven't discussed pay or anything of that nature but this is what worries me about the position, as well as figuring out where to go from there.

I have materials for my state from A.D. Banker but haven't finished the course due to my reservations about starting pay and career direction. Any guidance on whether it's a good move or not is appreciated.

 

[Chazm]

Find out what the commission schedule is

 

[PhilL]

WDG, Best wishes for you. Ask a lot of questions. Don't be at all shy about that. Initially, you need to make sure that your employer explains the compensation and benefits package. You definitely have a right to know all of it. Make sure you understand it and get it in writing, including a clarification as to ownership of the business you produce. Can you run things by your parents/relatives since it sounds like they are and/or were in the business. Erie is a great Company but you need to focus on your direct employer initially. Hope you do very well. Just do a lot of homework now. It will pay off. Be "Mr. Inquisitive". If you get resistance, you won't be happy working there in the long run.

 

[xrac]

That your degree is in Journalism doesn't mean a thing. The fact is you have a degree. That is all most insurance companies care about if they care about a degree at all. When I was offered a job at a regional wire house the guy who ran the office and did the initial interviewing had a degree in Psychology. Another guy who interviewed me had a degree in Physics.

 

[Cory]

Also ask about how leads are generated as well as what training will be provided i.e. how soon will yo be thrown to the wolves or will there be constant nurturing and training?

 

[Tony Mak]

I have my degree in Psychology, seems like the only thing it qualifies me for is sales!

 

[xrac]

I have my degree in Psychology, seems like the only thing it qualifies me for is sales!

The guy I knew with a degree in psychology was working for a regional wirehouse in a town of 7,000 and was making $180,000 per year in 1990. That is not hype because I I saw his W-2.

 

[GreenSky]

How can I make 180 k?

Give me $200K and I'll give you back $180K.

Next question.

Rick