How Much is a State Farm Agent Team Member Suppose to Make?

[wwgsrevo]

Whats the common fair salary that Agents should give to them and what kind of commission are they suppose to give for auto, home, life?

This is one thing I've searched over and over again and can't figure it out. Some team members claim they make 45-60k as a team member, some only make 32k max a year. is it the larger the agency, the more money there is to be made?
what are the pros and cons of working for a large agency with 6-10 sales team members versus working for a small starting agency with only 1-2 sales persons?

Assume that the team member is a hard worker and she makes about $15000 in home and auto policy sales together per month. Maybe a couple life and bank products.

I feel like I may be working for the wrong agent at times. She's respectable and treats me well, but I have a 2000k/mo base with just about 5% on home and auto. Am I better off working for someone else?

lmk your thoughts on this. I want to make at least 40k/yr combined base+commission for the work that is involved. This job is essentially worth 40-45k. but the numbers that I'm hitting aren't going to add up close to that. The numbers and my sales calculated, I would only be making 30k/yr.

Am I underpaid on commission portion or base pay portion. What is normal?

 

[Josh]

Posts like this kinda drive me batty, because there is no "normal" or "should". That said, here are some things that might shed some light on your situation.

First, most agents have no guarantee they'll make anything. If you consider that your w2, you'd probably need 40k-50k just to be where you're currently at.

Next, what an agent is making in another office/agency is not usually an apples to apples comparison. If income is your primary goal then you should be straight commission, probably working for yourself. Most people don't have the stomach or resources for that type of risk. Most "team members" are customer service/sales folks. If your primary job duties involve answering the phones, completing endorsements, etc, anything over $10/hour is great in most areas. If most of "your" production comes from activities the agency is generating (referalls, leads, etc), then it's not really "your" production. If you're a solo producer and all you do is beat the bushes to drive business to the door then you could probably make more money elsewhere, but I doubt (m)any team members fit into that group.

Ultimately the agent your working for wakes up in the morning and assumes a tremendous amount of financial and personal risk to keep the agency running. They are only going to pay up to a certain amount for staff to make that happen. If you're not happy, leave. If you have someone you're working for and you're making a livable wage, that's much better than a lot of agents. The only way you're really going to be able to command a higher wage is by generating sales on your own. That's the only thing that's going to matter. Plenty of people would happily take a desk job making $10/hour without any commission. That's what you're competing with.

 

[timamr]

I doubt this answers the OP question but when I lived in TN for a short while way before I was in the insurance business I became friends with a gentleman that owned his own State Farm agency in a small town of TN. Ol Fenny! One of the nicest men you could ever meet! He was probably in his early 60's then and had an office near the local golf course and all he ever did was show up in the mornings and kick back and watch damn cartoons half the day until it was time to go golfing with his buddies. His only employee was his wife that worked part time as the secretary.

Granted, he probably worked his butt off in the early years but later in life he was living the dream--he even let me borrow his Caddy one time when my vehicle was in the shop!

 

[Norwayguy]

Whats the common fair salary that Agents should give to them and what kind of commission are they suppose to give for auto, home, life?

This is one thing I've searched over and over again and can't figure it out. Some team members claim they make 45-60k as a team member, some only make 32k max a year. is it the larger the agency, the more money there is to be made?
what are the pros and cons of working for a large agency with 6-10 sales team members versus working for a small starting agency with only 1-2 sales persons?

Assume that the team member is a hard worker and she makes about $15000 in home and auto policy sales together per month. Maybe a couple life and bank products.

I feel like I may be working for the wrong agent at times. She's respectable and treats me well, but I have a 2000k/mo base with just about 5% on home and auto. Am I better off working for someone else?

lmk your thoughts on this. I want to make at least 40k/yr combined base+commission for the work that is involved. This job is essentially worth 40-45k. but the numbers that I'm hitting aren't going to add up close to that. The numbers and my sales calculated, I would only be making 30k/yr.

Am I underpaid on commission portion or base pay portion. What is normal?

Think for just one minute what the commission is on the products you are selling. I believe under the new contract and agents commission can drop as low as 8% but let's say it is 10% you mentioned you sell about 15k per month of annual premium with a 2k base salary so at a 10% your earning the agent $1,500 per month in commission, I assume you also do service work and I also assume most of "you" sales are generated by people calling or walking into the office based on state farm or your agents advertising....So how much of a raise do you think you deserve based on the above.

 

[xrac]

I believe the agent's ability to pay his staff is dictated by the contract that they are under. The long time agents have more generous compensation than the newer agents. I suspect that one will not be far from starving working under an agent on the more recent contract. The fact is they cannot pay it out if they do not take it in. It may be the case that they want to compensate better but cannot.