How Much Subsidy/allowance/salary for New Agents

[ganewbie]

NYL will pay a TAS (training allowance subsidy) the first 3 years. 1st year TAS is a max of $30K. You basically have to hit $2900 FYC every month to get the full TAS. Another way to put it is that your TAS is 80% or your Monthly FYC up to a max of $2320. As I understand it you are eligible as long as you have $500 FYC a month. If you don't max out every month you can catch up the next months.

2nd year max TAS is a around $21K as I remember and require higher FYC.

3rd year max TAS is $17 I think. not 100% on that one though.

Overall pretty good though as long as you can hit the monthly numbers.

I realize this is an OLD thread....but can someone put this into english lol....with abbreviations explained and some insight for a possible interview in a few weeks with NYL?

Thanks!

 

[Jerard]

I realize this is an OLD thread....but can someone put this into english lol....with abbreviations explained and some insight for a possible interview in a few weeks with NYL?

Thanks!

The only one that is not explained is FYC, which means First Year Commission.

 

[ganewbie]

The only one that is not explained is FYC, which means First Year Commission.

That was so obvious I looked right past it LOL! Thanks!

Also, as my name suggests, I am a true newbie....can you further explain what "monthly" FYC involves...is that the percentage you receive from writing new business?