Becoming a State Farm Agent

[insurancerook]

o ok now i really understand i was confused that i would be an actual "AGENT" thats why i was a little skeptical on people saying you go in 75k to 100k in debt due to offices expenses payroll etc... So now i know what i should do i mean i defenitely dont have that kind of money to shell out but its good to know that it is essential to my career in the future. I will give him my decesion on tues and i am still baffled on what exactly i should say. Any more ideas/opinions out there??? I highly would appreciate it.

 

[philip cohn]

I agree go ahead and get licensed. Tell him you would like him to reimburse you once you make such and such sales numbers as either part time or full time. Learn as much as you can and sell as much as you can. If you are bringing him good business then as time goes on you can ask for more commission as you become more valuable. After a couple a years apply to work for the company as an Agency Field Specialist. Then after a couple of years there start the process of getting an agency in your late 20's early 30's.
If you are bringing in a lot a premium and not getting paid well you don't have to just go work for another company. Just go to another State Farm Agent. Keep track of your sales so you can show what you are bringing in. If you get some experience and he is not paying well and you are cold up there in the far north send me a post to come work in my Agency in Atlanta.

 

[ajfh1477]

O.K. I have read every single post in this forum and now I have a dilemma. I have been offered a job at SF and will be heading to their training in a few months. My wife and I have our house paid for, no expenses and over $30,000 in the bank. My wife works and makes enough for us to survive on even if I do not make a penny for the next two or three years. My question to all of you is this. Is it worth it in the long run. I make around $65,000 a year now but I really hate my job. I do not work in the Insurance business and this will all be new to me. I am young and willing to do whatever it takes to succeed. Will SF give me a fair opportunity to make this happen? Will I be happy I made this decision in 10 years. Please give me honest whole hearted advice. I only have a few months to decide if I should stay at my current job or explore the opportunity that SF has to offer. Thank You All!!

 

[1manshow]

I am young and willing to do whatever it takes to succeed. Will SF give me a fair opportunity to make this happen

?

If you are sincere in that statement I am confident you would do well with most any company, especially State Farm.
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[ajfh1477]

Does anyone know what the changes for the new contract are? From these blogs it seems that if you were hired in 04-05, you had no chance at all. Has SF changed the contract enough to help new hires stay in business? If someone knows what these changes are please share them with me. Thank You all!

 

[dinarmarket]

O.K. I have read every single post in this forum and now I have a dilemma. I have been offered a job at SF and will be heading to their training in a few months. My wife and I have our house paid for, no expenses and over $30,000 in the bank. My wife works and makes enough for us to survive on even if I do not make a penny for the next two or three years. My question to all of you is this. Is it worth it in the long run. I make around $65,000 a year now but I really hate my job. I do not work in the Insurance business and this will all be new to me. I am young and willing to do whatever it takes to succeed. Will SF give me a fair opportunity to make this happen? Will I be happy I made this decision in 10 years. Please give me honest whole hearted advice. I only have a few months to decide if I should stay at my current job or explore the opportunity that SF has to offer. Thank You All!!

Hi guys, I just spent the last hour or so reading through this tread and appreciate all the candid advice. I realized this isn't an advice column, but I'd like to throw my situation out there as well. Thanks in advance for any help.

By my own humble admission, I consider myself a pretty employable candidate for most financial sector positions. I'm 26, got my MBA, military career, single, etc... I was contacted today by a recruiter for SF. Now admittedly, I fell into the trap that it sounds like others have done, in that, the sales pitch sounds too good to be true.Well , maybe it is, maybe it isn't, but I've decided to go in a different career path, but I wanted some clarification from something that the recruiter said: the 9 month period while I'm getting licensed and trained and what-not, SF is said to offer a "competitive salary". She went on to say that it wasn't her job to negotiate this salary, but said that they usually match what was on last years W-2 in an attempt to remain "comfortable". She also went on to say that she thinks SF can offer a pro-rated rate of up to $150k. This was staggering to me.

Well, I was in Iraq for most of last year and drew a 6-figure income. SO--my question is this: 1) is there any truth to this level of compensation 2) considering that SF pays for the licenses, what stops me from studying for 9months (while drawing this salary) passing all the tests, and then just quiting? Do you have to sign any long-term commitments? Couldn't ajfh1477 negotiate a pro-rated 9 month $65k salary?

I realize this isn't the most noble idea, but honestly I left the Army and I'm a little burnt out and want to take some time off-- if I could get paid Iraq money to study in the States then I'd have to consider it. Again, sorry so long and thanks for the input.

THANKS,
DM

 

[djs]

I know nothing specific about the State Farm contracts, but I can assure you they ain't no dummies. There have to be some hitches in the contract that if you don't complete the program, you don't benefit.

Also, you work for State Farm during the time you are studying. It's not like you get to do an hour or 2 of study and the rest of the day (or week) off. It will be different than what you are used to though...

Good luck in whatever you decide to do.

Dan

 

[moonlightandmargaritas]

Couldn't ajfh1477 negotiate a pro-rated 9 month $65k salary?

I realize this isn't the most noble idea, but honestly I left the Army and I'm a little burnt out and want to take some time off-- if I could get paid Iraq money to study in the States then I'd have to consider it.

I guess you didn't gain any common sense when you got your MBA.

Do you really think that they are this stupid?

 

[dinarmarket]

Thanks for the candid advice, guys.

One more question: when do most of these 'official' financial obligations come into play? I get the pressure for office space, furniture, employees, etc....but when do you actually have to put your signature down on paper? Day 1 of training? Assuming you hit all the training numbers, when can you start earning on your own.

Thanks again.

 

[djs]

Sorry my answer is vague but in short, I say you won't be able to avoid any commitments for more then 30-45 days.

I actually didn't think your answer was that vague. What you said was they want you to hit the ground quickly, running at full speed. Beware of speed bumps along the way.

You also added the normal caveat that 'objects in managements mirror (you) may become closer than suggested (to get bonus).'

This can be applied to virtually every P&C agency out there. Even independent P&C agents either do this on their own, or they sink pretty quickly.

You start up any business, you end up having a lease and employees before the doors are open to pay the bills. Not that much different.

Dan