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re: For those of you in sales……what percent are y’all getting in commission?
Posted on 10/8/23 at 11:00 am to Thundercles
Posted on 10/8/23 at 11:00 am to Thundercles
26% base. +4% production. Additional bonus of around 2%. No cost health insurance. Transportation sector. Made $115k last year.
0
Posted on 10/8/23 at 2:25 pm to BamaCoaster
quote:
After three years of hustle, you can coast on renewals.
quote:
BamaCoaster
Checks out
Posted on 10/8/23 at 4:16 pm to UFownstSECsince1950
I own a company that does b2b sales (consumer goods manufacturers). I am the only one doing sales, so 100% of my income is “commission”. Was extremely scary at first, but wouldn’t trade it for the world. I started in my industry working for someone else. Once I learned the ropes and made lots of relationships (and my company was about to get sold to an a-hole Frenchman), I made the leap and started my company. That was 21 years ago.
This post was edited on 10/8/23 at 4:17 pm
Posted on 10/8/23 at 5:22 pm to UFownstSECsince1950
If you shared the industry, might get better info.
Also, do you have a two income family? It can make a difference on the stress level. Is it a big ticket item where you either hit it big or ... not? At quota, how much will I make? What percentage of the sales reps make quota?
When in sales (years), had decent base salaries and the commission plans varied a lot. Got up to 25% after hitting 125% of quota with one plan (racked up but the company misled me in the hire process - HINT - and I left). Had as low as 0 on first certain % - worst plan and was a joke and they changed it because it was a joke). Most common was 3 to 6% with large bonuses after reaching 100%.
Agree - ask to speak to two or three reps, then try to talk to someone else not at the company, but in the same industry.
Ask them about turnover at their company and make them be specific. Why is the last rep gone? Most of the time, territory matters - sometimes BIGLY. You want to know what percentage will be from new business vs existing customers. Got one territory with new Co and had zero customers for main product. Six of us were hired at same time and I was the only one to survived the first year. It can be brutal.
Comp plans can really vary ... I remember one where part of the sales mgt comp was based on improvement in profit - even if it was a loss (laughed all the way to the bank on that one).
In short, ask a lot of questions and don't feel like you can't.
Also, do you have a two income family? It can make a difference on the stress level. Is it a big ticket item where you either hit it big or ... not? At quota, how much will I make? What percentage of the sales reps make quota?
When in sales (years), had decent base salaries and the commission plans varied a lot. Got up to 25% after hitting 125% of quota with one plan (racked up but the company misled me in the hire process - HINT - and I left). Had as low as 0 on first certain % - worst plan and was a joke and they changed it because it was a joke). Most common was 3 to 6% with large bonuses after reaching 100%.
Agree - ask to speak to two or three reps, then try to talk to someone else not at the company, but in the same industry.
Ask them about turnover at their company and make them be specific. Why is the last rep gone? Most of the time, territory matters - sometimes BIGLY. You want to know what percentage will be from new business vs existing customers. Got one territory with new Co and had zero customers for main product. Six of us were hired at same time and I was the only one to survived the first year. It can be brutal.
Comp plans can really vary ... I remember one where part of the sales mgt comp was based on improvement in profit - even if it was a loss (laughed all the way to the bank on that one).
In short, ask a lot of questions and don't feel like you can't.
This post was edited on 10/8/23 at 5:28 pm
Posted on 10/8/23 at 5:36 pm to M_Donahue
I was in sales with a veterinary distributor for a while. If you sell products with spiffs I would advise you to run the numbers yourself and make sure they are right. That was my experience. The numbers being off was always blamed on software glitches but strangely they were always off in the company's favor.
Posted on 10/8/23 at 8:42 pm to UFownstSECsince1950
Medical sales.
Wife gets 12%.
I get 8%.
Also both have a good salary.
Wife gets 12%.
I get 8%.
Also both have a good salary.
Posted on 10/10/23 at 10:41 pm to Grinder
60/40
60 base. 40 commission
60 base. 40 commission
Posted on 10/11/23 at 11:36 pm to bovine1
The ole SPIFFS lists... loved them. But, yes, you did need to check them.
This post was edited on 10/11/23 at 11:37 pm
Posted on 10/12/23 at 3:58 am to bhamAUfan
quote:
60/40 60 base. 40 commission
Either I don’t understand the question, or you don’t understand the question. Not sure which it is.
There’s no company paying 40% of sales in commission.
Posted on 10/12/23 at 4:21 pm to Grinder
I think they are doing overall compensation percentages.
60% of comp is base pay.
40% of comp is commission.
But I'm with you.
It was a poor answer to the question.
60% of comp is base pay.
40% of comp is commission.
But I'm with you.
It was a poor answer to the question.
Posted on 10/12/23 at 4:22 pm to Grinder
quote:
There’s no company paying 40% of sales in commission.
It could be a mortgage lender.
Our new hires would get 40% of compensation.
Experienced agents would get 50%.
Top agents would be closer to 75%.
Posted on 10/12/23 at 4:33 pm to UFownstSECsince1950
I have been a 1099 the majority of my life as was my father and grandfather...so there's a different perspective on this.
Posted on 10/13/23 at 9:22 am to UFownstSECsince1950
Every company is different. Things below to consider:
What is your 401k match?
How much do they pay in Health Insurance?
Do they have a product you cannot get anywhere else or they have the relationships with the vendor?
How much do they pay in Travel/Expenses?
What are their Gross Margin on the orders?
What is your base salary?
So many variables.
What is your 401k match?
How much do they pay in Health Insurance?
Do they have a product you cannot get anywhere else or they have the relationships with the vendor?
How much do they pay in Travel/Expenses?
What are their Gross Margin on the orders?
What is your base salary?
So many variables.
Posted on 10/13/23 at 9:23 am to Grinder
quote:
There’s no company paying 40% of sales in commission.
I think two conversations going on here:
1) Breakdown of pay Base Salary v Commission
2) What percentage of Sales is Commission
Need to clarify when answering OP
Posted on 10/13/23 at 9:43 am to UFownstSECsince1950
$50K base plus 1% commission on an around $4 million book of business. Not great.
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