- 4,689
I would go on an interview and ask them.
- 11,995
Companies treat it difference. It may be a small base, a draw, or enhances commission plan. Best to ask them.
- Thread starter
- #5
Thank you for your answer - my broader question is to understand what are the components of compensation. As you say, it varies quite a bit from one carrier to another. If that's helpful, I've been looking at NY Life, Metlife, Prudential and Lincoln in particular. If you are familiar with any of these, it'd be most happy to hear how they typically structure their compensation.
Again thank you for the help! It's hard to get information
Again thank you for the help! It's hard to get information
- 11,995
They're going to be all over the place and what one company offers might vary from candidate to candidate. Truly the best thing to do would be to talk to each of them directly.
- Thread starter
- #7
Yes Josh that makes sense but I'm still trying to wrap my head around the viability of the career for someone with limited exposure to life/annuity.
Is how they pay their future agents not something that should be out there? I would assume they'd be some marketing material for the big guys like Prudential or Lincoln?
Is how they pay their future agents not something that should be out there? I would assume they'd be some marketing material for the big guys like Prudential or Lincoln?
- 11,995
The quick answer is you get paid on a commission basis with nearly every company. They dress it up and add enhanced commissions or fast start bonuses, but if you need an hourly wage, this isn't the industry for you.
The comp plan is out there, you're just looking at the minutia of an aspect of it. Does that help?
- Thread starter
- #9
Yes I understand that the base comp could be very low and the rest mostly driven by sales. So if I'd rephrase it, I'm trying to understand for a captive agent what are typical levels of commissions... For example, if you were selling for Prudential or New York Life, would you be hoping making 50% of first year premium on a term policy, 60% on a universal life and 4% on a variable annuity? These are just examples, I've lowered the levels I saw from what I see at a BGA or broker-dealer. Then I'm trying to understand what would trigger bonuses or training allowance, but my guess is that these would be less relevant...
I've certainly struggled to get to see any comp plan you say are out there... The big guys seem to share these plans only after interviews
drive55baggins
New Member
You answered your own question.
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