Becoming a State Farm Agent

[lingling]

I definately commend you on working at an agent's office before you consider pursuing the career path as an agent. No substitue for experience.

Here's my only concern and I won't speculate on what your 20+ year agent may or may not be doing.

Typically however those type of agents, usually are'nt very involved in their agency. Their working the TNT schedule (Tuesday-Thursday or also known as 10-2) Now you may be saying your agent is not like that. However it leads me to believe he's definately not as engaged in his business for he would'nt be hiring an agency manager.

More importantly however, because what I just mentioned above will not deter you from still gaining experience (systems,processes, dealing with customers, learning certain tricks of the trade)

The MAIN concern is, the contract that he is on is COMPLETELY different than the one you are on. He does'nt worry about Semi Monthly Variable Compensation or Scorecard, therefore he could probably care less about Financial Services.

I won't tell you what that means or what you should do knowing this information, but just always keep that in mind.

Thanks again for the insight. The funny thing is his main goal is to teach me how to sell financial services, he said he excels in that product area. He also isn't and has said that he hopes I don't become one of those agents who becomes disengaged in their agency just to basically collect a pay check. He intends on bringing a new agency manager in every time one moves on to start their own agency, so every 1 to 2 years. This isn't even presented to me as a permanent possibility... it's purely to learn from him and move on. He is still the one who does most of the selling in his office because he likes it that way, maybe a work-a-holic but I think he has a lot to offer. He has two other full time staff members and some other part time staff.

We'll see how things go but I know personally he still works evenings because that's how he recruited me. Liked my ambition and perceived work ethic while my spouse and I were in his office talking about life insurance for ourselves. We've been talking for a while now about doing this for real.

I figure working with him for a year, well I've got nothing to loose other than a year and in the long run that's nothing.

 

[defender]

On AA05 you must look beyond years 3 when your default variable comp begins to fall off. I am seeing more and more posts like this on the NASFA forum. Some are actually still possitive about the company but are now making some tough choices.

If you don't mind making no more than $50,000 by working 50 hours a week in your first 2 years, and you understand you will never own this business (you will rent it), and you have the ability to live without some pay from time to time. This may work for you.

It's an o.k. deal, not a great one. But do your research first. Especially interview agents on year 4 on AA05.

 

[lingling]

On AA05 you must look beyond years 3 when your default variable comp begins to fall off. I am seeing more and more posts like this on the NASFA forum. Some are actually still possitive about the company but are now making some tough choices.

If you don't mind making no more than $50,000 by working 50 hours a week in your first 2 years, and you understand you will never own this business (you will rent it), and you have the ability to live without some pay from time to time. This may work for you.

It's an o.k. deal, not a great one. But do your research first. Especially interview agents on year 4 on AA05.

so what year are you in?

 

[defender]

so what year are you in?

Just finished my 4th year, now into 5.

 

[xrac]

Just finished my 4th year, now into 5.

If you had to do it over would you do it again?

 

[defender]

XRAC: You should read the thread from oncegreat on the Nasfa.com Tica agents forum: Her (I think it's a she) last post:

"TICA: People are lined up for this opporutnity because we are in a depression in the US. State Farm doesn't believe it will do everything to manage this fact. Just like the Governement, they are providing propoganda to cover up how bad things actually are. (Yes I said depression).

Because people are despirate and SF revenue is declining (part of it because TICA/AA05) but mostly the economy, they are despirate to tap into these new and unknowing "suckers." This economy gives SF a green light to abuse because they know there's not much any of us can do. They have the power, we do not.

Remember, your current financial ability is most important to them right now. FACT: If you are qualified and have no money. You won't be hired. FACT: If you are marginally qualified and are in a good financial situation, you will be hired. People are despirate to keep what they've aquired and think this opportunity will help grow it. WRONG.

Oh, what I meant to say was telephone telemarkets were costing me about$15,000 a year. Gone."

To your question: whould I do it over again? It's hard to say. When I started there was no information or history on this new deal. TICAs seem to have a better deal initially than I did. But, from those who I have talked to have given back much of the money they have earned.

Because we are in this terrible economy. State Farm knows it, but doesn't care. You can end up spending your life savings supplimenting this deal and because the economy is bad, you have no other choice.

But the answer is absolutly no, I wouldn't do it over again in my situation. I have collegues that I left almost 5 years ago who are still doing well from my old career. BUT, while I certainly earn significanly less, this deal and the economy have forced me to coast for a while. It's a trade off, but I seem to be enjoying life a little more even though I don't have the money I once had. 6 of one and half of another, I guess. Hope this helps.

 

[Aydin]

In my opinion, State Farm offers great paid training in the classroom. We have been through this over and over on this thread, but I will say it again: It is not the deal it used to be and it is not even the deal they tell you it is!

I started as an Agent a few years ago when the economy was good and they were lined up to become TICAs back then too.

If you come to Agency from outside of State Farm you will be at a disadvantage. I would compare it to visiting Spain and not speaking Spanish. I have never been to Spain, but I was a State Farm Agent and it was a bizarre culture.

 

[xrac]

..... It's a trade off, but I seem to be enjoying life a little more even though I don't have the money I once had. 6 of one and half of another, I guess. Hope this helps.

Yes it does help. It is an honest statement and I appreciate it. I also feel some pain in the post. I know what it is like to make a decision and to get locked into something that you cannot walk away from because you have too much money at stake with the knowledge you could be making more money doing something else. Been there done that!
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.....Because we are in this terrible economy. State Farm knows it, but doesn't care. You can end up spending your life savings supplimenting this deal and because the economy is bad, you have no other choice.......

Who wants to work for a comapny that doesn't care about the people that are working for them?????

 

[fastrack1]

Who wants to work for a comapny that doesn't care about the people that are working for them?????

I really don't know that I would go that far. You don't work for them, so you certainly don't know. I personally think that the contract and concept looked good on paper for everyone involved, but it actually just didn't work out. I don't think there is anything malicious about it. Sometimes a company just makes a wrong call and sometimes that is hard to fix or change.

Claiming that SF is taking advantage of a poor economy to prey on unsuspecting trainee agents is ridiculous, per a previous post.

Just my thoughts from both the inside and the outside.

 

[Bitnis]

Claiming that SF is taking advantage of a poor economy to prey on unsuspecting trainee agents is ridiculous, per a previous post.

If you are saying SF would never do this, I disagree.