Need Help!! Just Starting, What to Expect!?!

[Josh]

If you're graduating out of college and someone is willing to give you $50k plus commissions you should make your mistakes with them. Worst case scenario you make some money.


To all but the OP: Anyone else think it's a bit crazy that they're using numbers that high? $300k in 10 years? That seems pretty high.

To the OP: Ask your recruiters what they make. Tell them to show you their 1099's

As previously discussed, project 200 is how Moses sold insurance. Obviously, it's not that easy.

 

[Norwayguy]

If you're graduating out of college and someone is willing to give you $50k plus commissions you should make your mistakes with them. Worst case scenario you make some money.


To all but the OP: Anyone else think it's a bit crazy that they're using numbers that high? $300k in 10 years? That seems pretty high.

To the OP: Ask your recruiters what they make. Tell them to show you their 1099's

As previously discussed, project 200 is how Moses sold insurance. Obviously, it's not that easy.

Yes its sleezy, If a recruiter said something like that to me my very first question would be how many 10+ year agents in this agency and that I want to meet them and see their 1099s. This recruiter probably feels he can use whatever numbers he wants because he knows that either the recruit will flunk out very early or will move on to another firm....If he is still there 10 years from now he probably won't be hitting those numbers but would still be pretty successful.

 

[xrac]

At this stage in your life I would take the Lilly job. It would be easier to succeed in insurance if you were a little older and have more developed business contacts. Learn on Lilly's dime.

 

[DHK]

If your #1 priority is money... take the lilly job. You'll fail at anything else when money is your #1 priority.

Selling insurance can be lucrative... but the earnings are a bi-product of being fully converted to being a life insurance agent. Doing well by doing good.

If all you want is money, you'd better do something else and work FOR someone else.

The neat thing about being an insurance agent is that you have much more control over your schedule and how you build your clientele than if you were a W2 employee with a salary. That control is what brings agents like us into the industry. Helping people is what we're all about. And we are rewarded quite well if we help enough people get what they want.

This takes a hell of a lot of work. Sleepless nights until you get your routine down. Lots to learn. Nearly infinite growth potential. Nearly infinite income potential. But what are you willing to PAY for that potential? That potential is EVERYONE'S potential. Only you can spell out what success means to you. Success for me means never having to call anyone else my "boss" or "manager" ever again for the rest of my life. Never punching in a time card for someone else. Helping people the BEST WAY I can, with the products I have available to me. And making bank while I do it.

You have some thinking to do... and you'll need to come up with another prospecting strategy as I think the project 200 is really old-school. Think about it. If you're 23, then the people on your project 200 are also around 23. Forget about being introduced to their parents. You will need to develop another marketing method... and shame on your manager for telling you the same old recruiting bullsh*t and not thinking about your specific circumstances.

That said, you might be able to be successful... but it'll take MUCH more work than your manager ever implied. Can you say "Cold Call" and "Cold Walk"? If you're not willing to do that at your age, you had better look into doing something else.

 

[BNTRS]

It's not really about hard work and great work ethic. I meant a lot of people my age or younger when I started out (out of college btw) who had 10x the work ethic I did and failed miserably.

LGilmore nailed it, there is no blueprint for success in this industry. What works beautifully for one, might be a terribly idea for another.

You say you have sales experience. I'd ask in what. Probably little of it will translate well into the insurance industry. I was awesome at selling appliances prior to coming into the insurance industry (consistently in the top two for both dollars coming in and actual margin/profit) but basically none of that translated well to help me here.

The projected earnings they are giving you are completely bogus, even if cut in half you'll need to be one of the top producing agents to hit those numbers and then consistency will be a challenge--I know an agent who makes near 200k some years, and about 30k in others.

The other issue here, that no one else has touched on, which sort of surprises me, is the fact that even if you can hit those numbers, that isn't your money. Agents who produce at those levels have overhead--even if you are sitting in a cubicle at the agency they'll likely charge you rent if you are putting that kind of production through the mill.

You'll need office staff, probably be paying rent, marketing, etc.

Now, to be realistic, there is a serious question on whether or not you can pull off these kinds of numbers at Lilly. I'd be dubious about that as well. I have a friend whose relative makes that kind of money for one of the major pharmaceuticals, but she's much old then you will be in 10 years, and she's up there a bit on the corporate ladder.

If you are interested in some more direct and personal addressing of this question, I'd be happy to speak more one on one. Recruiters and managers who throw out these kinds of numbers piss me off and do a lot of harm to the industry in my opinion.

I'm in the take the Lilly job camp btw, at least the guarantees are higher and in life you'll likely discover that taking the higher guarantee generally works out better in the long run--seriously resisting the placement of a WL reference ATM...fail.

 

[houcoogster]

uh, uh, let me think real hard on this....50k or -10k hmmm... yeah I'd take the 50k and roll w/Lilly

 

[lovepril]

@ houcoogster think about it many times if what your doing is right. if you really want to take the 50k then go ahead. i know you can mange it well

 

[Tresden]

Alright, well again thanks to everyone for taking the time to respond. What I gather from your responses is basically cynicism regarding any chance of survival being over 10%. That's fine, you didn't make the stats, but with that in mind assume I remained in the industry beyond the first year or 2 years, would it be just as unbelievable for me to think that I could be making 200K annually by my 5th year? I understand this industry is tough, but I'm good at sales and I figure if there really is an opportunity to make a semblance of the amount of money that I have been told I can than now is the best time in my life to give it a try, being that I'm young and ambitious. BUT if you fellows, being in the industry for as long as you have, think these numbers are more imaginary than real than that is what i need to know. I'm not worried about sticking through it. I'm more worried about this industry being made out to be much more lucrative than should be expected...
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BNTRS,t hanks for the advice. Didn't read your post until after I posted the one above. Would you mind shooting me an email at [email protected]? I'd love to talk to you in more detail.

 

[Franz Kafka]

If your parents are willing to house and feed you for a couple of years by all means try it out. If you fail, you still had a great lesson in life. The numbers you are looking for are completely meaningless. Aim high. You can absolutely make $10k a day selling Mass WL. Ask and it shall be given. Knock and it shall be opened. Screw everyone else.

 

[houcoogster]

@ houcoogster think about it many times if what your doing is right. if you really want to take the 50k then go ahead. i know you can mange it well

@lovepril with a name like that from a State like that. I like totally understand where you're coming from when you say "doing the right thing".
Now set your alarm clock so you can be up in time to serve scrambled eggs and bacon to the homeless people under the bridge in the morning.