State Farm Interview & Offer

[lev0711]

Hi everyone! Another newbie here!

About 3 hours ago I complete a phone interview with a State Farm agent and was offered a second (panel) interview at the end of the week. The position is Insurance and Financial Services- Agent Team Member.

1. I asked her about obtaining my licenses and if I would need to do that before I could start. She said that some agents require that, but she does not. She said that I would go to class and then come into the office to study until I was ready to take the exam, as well as, receive SF training. She also said the my first check would be 'held' and I would sign a 3 year agreement. Should I leave before the 3 years is over, that pay will be prorated.

I am still a little stumped by the answer. I will be sure to ask for clarification on everything at the next interview, but can anyone offer insight on this process?


2. She asked what my pay was. I make 34k + commission + full benefits. She asked how I would feel about taking a 10k cut. I assume that the base pay is 24k (yes, I'm a math wiz!) + commission. Is that the avg. Team Member salary? And how much should I expect to make in commissions within the first 6mo.? 1 year?

3. Any advice my upcoming panel interview?


Thanks!

 

[Guest]

Because of the 3 year commitment, you should really consider if you want to make insurance a career. The agent is basically locking you down in exchange for training and licensing. I don't think the 3 year commitment should be implemented but ive heard state farm has a good training program

State farm team members don't make much in terms of money. You are not a statefarm employee. Rather you are an employee of the agent hiring. If you get the base + benefits you have to determine if a 10k cut is worth learning a new career because commissions on the team member side will be extremely low. For example if the agent gets 15% commission of each policy sold by the agency you can expect to get 5-10% of that. So on a $500 / year premium you will probably receive $7.50 commission.

 

[VolAgent]

I would love to hear her explanation on how she is going to hold the paycheck of a W2 employee, at least I assume this is for a W2 position. Also, I really want to know how one paycheck is going to tie a person to you.

I'd tell her to stuff it. Not because it is necessarily a bad deal, but she clearly doesn't know what she is doing and instead of asking for help is just making it up. No telling what other areas she will do this in as well.

 

[pcbinsurance]

Depending on your current job's commission, you do pretty well now. I doubt you will match that in your first 1-2 years at SF. I wonder if your current "full benefits" package will be drying up with ObummerCare.

 

[lev0711]

Thanks for the replies!

The problem with my current employer is that the can't 'afford' to pay my commission 90% of the time, so thank goodness I negotiated a decent base pay. My medical benefits is another thing I negotiated. I get an 'allowance' that covers the individual plan I obtained, so I'd assume I'm Obamacare Proof.

 

[Vixenator]

1. I asked her about obtaining my licenses and if I would need to do that before I could start. She said that some agents require that, but she does not. She said that I would go to class and then come into the office to study until I was ready to take the exam, as well as, receive SF training.

My question is: Why would you be required to go into the office to study before the exam? Training is one thing, but to study?

 

[cat941]

Hi everyone! Another newbie here!

About 3 hours ago I complete a phone interview with a State Farm agent and was offered a second (panel) interview at the end of the week. The position is Insurance and Financial Services- Agent Team Member.

1. I asked her about obtaining my licenses and if I would need to do that before I could start. She said that some agents require that, but she does not. She said that I would go to class and then come into the office to study until I was ready to take the exam, as well as, receive SF training. She also said the my first check would be 'held' and I would sign a 3 year agreement. Should I leave before the 3 years is over, that pay will be prorated.

I am still a little stumped by the answer. I will be sure to ask for clarification on everything at the next interview, but can anyone offer insight on this process?


2. She asked what my pay was. I make 34k + commission + full benefits. She asked how I would feel about taking a 10k cut. I assume that the base pay is 24k (yes, I'm a math wiz!) + commission. Is that the avg. Team Member salary? And how much should I expect to make in commissions within the first 6mo.? 1 year?

3. Any advice my upcoming panel interview?


Thanks!

I work for a state farm agent. i truly enjoy my job.

 

[Guest]

Hi everyone! Another newbie here!

About 3 hours ago I complete a phone interview with a State Farm agent and was offered a second (panel) interview at the end of the week. The position is Insurance and Financial Services- Agent Team Member.

1. I asked her about obtaining my licenses and if I would need to do that before I could start. She said that some agents require that, but she does not. She said that I would go to class and then come into the office to study until I was ready to take the exam, as well as, receive SF training. She also said the my first check would be 'held' and I would sign a 3 year agreement. Should I leave before the 3 years is over, that pay will be prorated.

I am still a little stumped by the answer. I will be sure to ask for clarification on everything at the next interview, but can anyone offer insight on this process?


2. She asked what my pay was. I make 34k + commission + full benefits. She asked how I would feel about taking a 10k cut. I assume that the base pay is 24k (yes, I'm a math wiz!) + commission. Is that the avg. Team Member salary? And how much should I expect to make in commissions within the first 6mo.? 1 year?

3. Any advice my upcoming panel interview?


Thanks!

How much commission is she paying you? I assume it is a split? Is she giving you anything on renewals?

 

[Guest]

How much commission is she paying you? I assume it is a split? Is she giving you anything on renewals?

Why would she give him renewals? He's getting a base with benefits.

OP look at it this way, state farm agents only make about 15% commission on personal lines. At a base rate of $24k you need to write $160,000 in premium / year just to cover your base then add your benefits and commission and it will probably be closer to $200,000+ to cover your cost (not even including her cost to get the leads you will be working).

There is no real money in being an insurance producer. Take the job if you want to learn and eventually transition insurance to be your long term career either as an agent or broker otherwise being a producer just for the money is a big pass in my book.

 

[2Tall]

I work for a state farm agent. i truly enjoy my job.

What is ur salary and commission schedule