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Thinking about switching to a career in Finance/Insurance
Posted on 8/5/14 at 5:09 am
Posted on 8/5/14 at 5:09 am
Long story short I've worked several labor jobs and while they (barely) pay the bills I'm looking for something a little better. Recently I was offered a position as a b2b sales rep for Aflac as well as a State Farm rep. Are any of these ideal positions for a newcomer in the field both from a learning standpoint and fiscally? I do not have a finance related degree but am open to working my way up and think I might enjoy a change
Anyone familiar with the positions or what to do in this scenario I appreciate the responses
Anyone familiar with the positions or what to do in this scenario I appreciate the responses
4
Posted on 8/5/14 at 5:54 am to The Dutch Oven
What is your education level?
Posted on 8/5/14 at 8:10 am to The Dutch Oven
Any thought to the oil business?
Posted on 8/5/14 at 8:21 am to The Dutch Oven
I have a friend that had a BS in management (I think) and worked in the restaurant business for a number of years, eventually becoming I think the #2 at a very nice place. He left that to work for a company in the financial services industry.
To start, they gave him a very, very, very low base, so it's mainly commission. The training he got was top notch. He burned through all his savings in about 6 months, and spent the next 3 months living off of CC debt. Finally, at about 9 months, he got the hang of it, and is currently killing it.
He doesn't have much of a rolodex to speak of, but he's got a personality that fits him well for sales.
To start, they gave him a very, very, very low base, so it's mainly commission. The training he got was top notch. He burned through all his savings in about 6 months, and spent the next 3 months living off of CC debt. Finally, at about 9 months, he got the hang of it, and is currently killing it.
He doesn't have much of a rolodex to speak of, but he's got a personality that fits him well for sales.
Posted on 8/5/14 at 8:55 am to LSUFanHouston
So expect a low base pay like 13-20 an hour but possibly good commission? Never worked a commission job but the salary descriptions for a b2b rep seem high per salary list.com
Only reason I worry about "good enough" salary is bc it is a long commute. I would have no trouble struggling for awhile as long as the potential is there but didn't want to get myself into a dead end position I didn't enjoy
I like to think I am very personable and a people person but I understand that is only a small part of it
Only reason I worry about "good enough" salary is bc it is a long commute. I would have no trouble struggling for awhile as long as the potential is there but didn't want to get myself into a dead end position I didn't enjoy
I like to think I am very personable and a people person but I understand that is only a small part of it
Posted on 8/5/14 at 9:15 am to The Dutch Oven
quote:
So expect a low base pay like 13-20 an hour but possibly good commission?
I seriously doubt any of the big insurance companies give you $15+/hr as an entry level rep.
quote:
I would have no trouble struggling for awhile as long as the potential is there but didn't want to get myself into a dead end position I didn't enjoy
Insurance sales seems to be one of those fields where there's a really high turnover rate because the pay isn't great and there's so much competition. I've had a handful of friends go that route and quit within a year. It really depends on your own personal drive and dedication during the lean months
quote:
I like to think I am very personable and a people person but I understand that is only a small part of it
Maybe try to find a more niche sales position? There's so many insurance companies and reps to compete with that finding a more specific product with less competition may be a better route, assuming those opportunities are out there.
Posted on 8/5/14 at 12:35 pm to The Dutch Oven
quote:
The Dutch Oven
If you go this route, go work for a very good and very established State Farm agent. I worked for one of their best agents in the entire company years ago and was paid $2,000 a month base salary plus anywhere from 2.5% to 10% of the annual or 6-month premium on products that I sold. I ended up clearing around $45,000/year working my arse off.
There were no benefits (because I worked for the agent - not State Farm) and the only way to move up was to become an agent. I didn't want to become an agent because the personal investment was simply too risky. I moved on to bigger and better things and am making more money with benefits and no nights or weekends now.
My time spent working with State Farm, though, was very useful as I now know how my insurance works and knowing and understanding how insurance works helps ease the sting of premium increases
Either way, don't go into insurance unless you are a very big people-person. Good luck!
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