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Started By
Message
re: Hiring company want previous W-2’s
Posted on 7/26/18 at 12:45 pm to Tiger n Miami AU83
Posted on 7/26/18 at 12:45 pm to Tiger n Miami AU83
quote:
A person could claim to be the GOAT sales person making $1M a year in commissions. New company is going to want to verify that.
If they are an industry leader, they should know who the heavy hitters are from market intelligence and be going after them.
This request sounds very sketchy. I wouldn’t fall for it.
1
Posted on 7/26/18 at 12:47 pm to NYNolaguy1
quote:
They approached him with a job offer. If they werent interested in him they wouldnt have bothered. If hes not comfortable (as I would be), he can refuse.
In this job market, the days of companies dictating over the top terms to get talent is closing. He can go elsewhere.
The normal reason for previous w2s is to his benefit.
It establishes his draw pay while he trains and ramps up his sales business.
If he isnt interested in earning a draw while he has zero momentum at their work, then he probably isn't a very good sales rep.
The draw pay is how you attract successful sales people from their current work (where they are making good money).
Posted on 7/26/18 at 12:47 pm to IT_Dawg
"I'll be happy to provide W-2's for the previous year upon hiring."
Shows them that you're a salesman and not someone who will knuckle under to any insane client request. Haggle to two or three years of W-2's.
Also prevents you from giving the info and not getting hired. Companies use the hiring process to mine info on their competitors.
Shows them that you're a salesman and not someone who will knuckle under to any insane client request. Haggle to two or three years of W-2's.
Also prevents you from giving the info and not getting hired. Companies use the hiring process to mine info on their competitors.
Posted on 7/26/18 at 12:48 pm to GurleyGirl
quote:
This. They want to offer him just enough to entice him.
I'm not in sales but OP said he was already presented with and happy with the OTE. Doesn't that mean he knows the general pay already?
Sure they could delineate from that, but as said its likely a large company that has pretty set methods.
I very much doubt this is anything personal and simply a normal procedure for them. If I was in sales, I don't think you could really be that upset with it.
Posted on 7/26/18 at 12:51 pm to ElderTiger
Why is it sketchy?
I and several other posters have already confirmed this is not an uncommon practice for big companies.
To the poster that said he would not disclose all of his financial assets, they are asking for a fricking W2. One damn number is what they are asking for which is how much did you make for the year. Hardly uncommon or unreasonable when they are going to entrust him with what is likely millions of dollars in their book of business. They want a confirmed track record he can sell and wont literally cost the companies millions of dollars.
None of this discussion really matters. 110% the company will not hire him if he does not provide the records requested.
I and several other posters have already confirmed this is not an uncommon practice for big companies.
To the poster that said he would not disclose all of his financial assets, they are asking for a fricking W2. One damn number is what they are asking for which is how much did you make for the year. Hardly uncommon or unreasonable when they are going to entrust him with what is likely millions of dollars in their book of business. They want a confirmed track record he can sell and wont literally cost the companies millions of dollars.
None of this discussion really matters. 110% the company will not hire him if he does not provide the records requested.
Posted on 7/26/18 at 12:54 pm to Tiger n Miami AU83
quote:
I and several other posters have already confirmed this is not an uncommon practice for big companies.
I work in a large company and have worked with others in the consulting world for the last 10 years and I have never heard of this either in La or in NY.
Posted on 7/26/18 at 12:56 pm to NYNolaguy1
So you work in a commissioned sales position where the company gave you a substantial book of business to sell to as your primary responsibility?
This post was edited on 7/26/18 at 12:57 pm
Posted on 7/26/18 at 12:57 pm to Fewer Kilometers
*redacted due to my stupidity*
This post was edited on 7/26/18 at 1:23 pm
Posted on 7/26/18 at 12:59 pm to IT_Dawg
I had to provide YTD pay stub and last years W-2 along with sales data. They wanted to make sure I was not all talk about being able to sell.
Posted on 7/26/18 at 12:59 pm to IT_Dawg
It's a test to see how much they can screw you later on. 
Posted on 7/26/18 at 12:59 pm to convertedtiger
quote:
Sounds like a good way to see the relative internal health of a competitor.
Lol. No it doesnt. Not at all or even a little bit.
Posted on 7/26/18 at 1:01 pm to convertedtiger
quote:
This right here. Sounds like a good way to see the relative internal health of a competitor. Industrial spying that they get for free.
You realize they can get this simply by hiring someone and asking too right?
Posted on 7/26/18 at 1:02 pm to Tiger n Miami AU83
quote:
So you work in a commissioned sales position
No.
Even if I did there are other metrics that could justify my salary. Client relationships, past sales data, portable clients etc.
Posted on 7/26/18 at 1:08 pm to Tiger n Miami AU83
*redacted due to my stupidity*
This post was edited on 7/26/18 at 1:24 pm
Posted on 7/26/18 at 1:09 pm to NYNolaguy1
Those things could be doctored. I'm guessing they will also ask him to sign a transcript release with the IRS when they do the background check as well to verify. JP Morgan did.
And I understand portable books of business, non compete agreements and all of that. Ive had to sign noncompetes with my last 3 employers. Again though this is a position where he will be given the book of business and expected to grow it.
And I understand portable books of business, non compete agreements and all of that. Ive had to sign noncompetes with my last 3 employers. Again though this is a position where he will be given the book of business and expected to grow it.
Posted on 7/26/18 at 1:10 pm to convertedtiger
Lol. You get 1 relevant gross income number on a W-2 and that is it about it.
A company could be on the verge of bankruptcy and have 1 sales person that is making $1million a year.
You are dumb.
A company could be on the verge of bankruptcy and have 1 sales person that is making $1million a year.
You are dumb.
This post was edited on 7/26/18 at 1:12 pm
Posted on 7/26/18 at 1:11 pm to convertedtiger
quote:
There is a MOUNTAIN of data on a W-2 if you know what to look for.
I don't think the w2 breaks down compensation in that much detail.
You get compensation, 401k, and health insurance data. You can probably guess how they filled out a w9 (how does that help?).
You are thinking of year ending paystubs.
Posted on 7/26/18 at 1:13 pm to meansonny
quote:
You get compensation, 401k, and health insurance data.
Exactly. And a 401k is capped around $18k yearly. And a health insurance number for 1 employee to tell you the financial health of a company? Lol.
Posted on 7/26/18 at 1:18 pm to meansonny
The approach I feel I should take is simple.
“I have provided you with my quotas, my quota attainment via my resume and through references and stack rankings. I also informed you that I have been 100% commission for the last 13 years. I do not feel comfortable giving you financial insight into how my organization pays their existing employees. That is not fair or ethical. Furthermore, I have proven with C-level references and throughout my interview process, including the 4 hour mock sales presentation, that I have the capability to provide your organization substantial benefit for adding me to the team. If that is not sufficient enough, I apologize for taking up each of our time during the process”
“I have provided you with my quotas, my quota attainment via my resume and through references and stack rankings. I also informed you that I have been 100% commission for the last 13 years. I do not feel comfortable giving you financial insight into how my organization pays their existing employees. That is not fair or ethical. Furthermore, I have proven with C-level references and throughout my interview process, including the 4 hour mock sales presentation, that I have the capability to provide your organization substantial benefit for adding me to the team. If that is not sufficient enough, I apologize for taking up each of our time during the process”
Posted on 7/26/18 at 1:18 pm to Tiger n Miami AU83
quote:
I and several other posters have already confirmed this is not an uncommon practice for big companies.
Just because it's common doesn't make it not sketchy. Child labor and 16 hour work days used to be common.
quote:
To the poster that said he would not disclose all of his financial assets, they are asking for a fricking W2. One damn number is what they are asking for which is how much did you make for the year. Hardly uncommon or unreasonable when they are going to entrust him with what is likely millions of dollars in their book of business. They want a confirmed track record he can sell and wont literally cost the companies millions of dollars.
That's one way to look at it, and the most trusting way. It could also be to see what he's making now and base their offer off of it, which in my opinion is unethical. You pay what the job is worth, not 10% (or whatever) more than what they were making.
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