| Message |
Author |
|
 Posted: Wed May 16, 2007 11:04 pm Post subject: Allstate agent salary: What one may expect? |
|
|
Hi all,
Im changing careers from being a real estate sales agent to an insurance sales agent, living in a major metropolitan city in Florida.
I have 10 years solid sales experience and abilities, am assertive and very personable. It is my understanding most agencies like to hire non-insurance exp people so they can train them "thier way".A local agent told me to expect $1000-$15000 monthly commissions in her newly established 6 person office after about 3 months of training, yet did not specify what base pay she would offer.
What kind of base pay can I expect with an abundance of sales abilities yet non insurance related?
Thanks alot!
_________________
Register Now to have your Insurance queries solved. |
|
Serenity12
Guest
|
|
| Posted: Wed May 16, 2007 11:38 pm Post subject: Allstate agent salary: the type would suggest |
|
|
What kind of insurance are you thinking of selling? Life, Health, Home, Auto etc. There is a difference. Some more info would be greatly appriciated.
_________________
~Monique~ |
|
nique1221
Senior member
Joined: 25 Nov 2006
Posts: 299
Location: PA
47.32 Dollars($)
|
|
| Posted: Thu May 17, 2007 11:29 am Post subject: |
|
|
It would be P/C, its an Allstate agency, just a year old, but growing strong, Im told.
_________________
Register Now to have your Insurance queries solved. |
|
Serenity
Guest
|
|
| Posted: Thu May 17, 2007 2:05 pm Post subject: |
|
|
I don't know much about agent commissions but when I see "$1000-$15000 as a range, I have to equate that to the car salesmen income hype... that is... made up.
The range is so great that the numbers really don't say anything. Might as well be $0-$1 million. Personally, if I looked at any job that could not give a better scale then that, I'd be suspicious.
I'd find out what the _average_ person is making in the office... not what has ever been the lowest and highest. |
|
tcope
Forum Expert
Joined: 22 Nov 2006
Posts: 2779
Location: Salt Lake City, UT
248.00 Dollars($)
|
|
| Posted: Thu May 17, 2007 5:14 pm Post subject: |
|
|
OOps,,,I made a typo!
The commission range I was quoted was $1000-$1500 (Fifteen hundred).
So, $12,000-$18,000 per year.
Does that figure sound resonable for a 6 person office, where only 4 people actually sell, in a major metro city?
_________________
Register Now to have your Insurance queries solved. |
|
serenity
Guest
|
|
| Posted: Fri May 18, 2007 5:38 pm Post subject: |
|
|
AHHHH ALLSTATE!!! LOL I worked for Allstate for about a year and a half. Here is the deal with Allstate, as far as I know. If you are working for an agent, they will designate your pay. Make sure you negotiate your salary/commissions. I am not sure what state you are in, that may help a little here, but Allstate around here where I live has very competitive Home rates and not competitive auto rates, so it was hard to sell. Alot of people want the home and auto package together. I think that you should definately negotiate some kind of base salary (as you will have to do alot of paperwork and follow up work and service work) which will take away fromo your time to sell. This is why you should get a base amount of xx per hour that you work, plus commissions for anything that you bring in. That is my opinion. If you have more questions or want specifics please feel free to contact me via
e-mail moniqued(at)getcohenassociates.com
I would say that P&C business it is hard to make a really good living at, especially if you are not the owner of the agency. It is a tough business. There is def. more money to be made and a better carreer if you get into health, life, disability, ltc etc and get into the bigger and better stuff. Yes Allstate does offer some of these products but where I live their products (the benifits) are not great compared to what other companies have to offer, that is kind of why I left and went in a different direction as far as insurance goes. Contact me directly and I will answer anything you have questions about. If you are new to the business however...it is not a bad place to start, their training program is not bad and it helps you get your foot in the door to move on.
* System edited : Post edited for email id security
_________________
~Monique~ |
|
nique1221
Senior member
Joined: 25 Nov 2006
Posts: 299
Location: PA
47.32 Dollars($)
|
|
| Posted: Fri May 18, 2007 6:57 pm Post subject: |
|
|
| May I know What the other company offer for the same in you state? I think you should offer them the little bit more then actual rate so that they get more enthusiasm on work and you get huge profit in less time. |
|
cyrus
Preferred member
Joined: 09 May 2007
Posts: 117
23.68 Dollars($)
|
|
| Posted: Fri May 18, 2007 7:33 pm Post subject: |
|
|
The only other agency info on salary is what a friend of mine who owns his own, indie agency. Says he pays his CSR's $25k plus small commission, hires young women with no exp, basically cheap labor. Perfers only women, which I think it due to fact they wont leave as rapisly as a man might and certainly wont confront him on anything....but this is another story.
I have seen several wants ad's offering base salaries from $25k to $39k, dependent on experience.
_________________
Register Now to have your Insurance queries solved. |
|
serenity
Guest
|
|
| Posted: Sat May 19, 2007 6:02 am Post subject: |
|
|
| Your company is new born baby. I will suggest you have to give more facilities to them so that they can work hard for you and for your company to place your company in well established position for that you have to maintain a medium profile company salary structure. |
|
cyrus
Preferred member
Joined: 09 May 2007
Posts: 117
23.68 Dollars($)
|
|
| Posted: Tue May 22, 2007 1:06 am Post subject: |
|
|
Im an agent for United American right now, Ill tell you one thing, no matter who you are selling for, you are in charge of your income. I make between 50,000 and 60,000 a year. Im also extremely young. In fact, I just graduated from highschool last year. You will make more money by making personal impressions on people. Go to these busineses instead of calling them on the phone. Also, I wouldnt recomend spending much (if any) money at all on advertisements. You can make just as much money by walking up and saying high. I wish you the best of luck! If you want some help getting started, feel free to email me at RandyDarby(at)inbox.com
* System edited : Post edited for email id security
_________________
Register Now to have your Insurance queries solved. |
|
Randy Darby
Guest
|
|
| Posted: Wed May 30, 2007 4:08 pm Post subject: |
|
|
Thanks Randy, appreciate your feedback. So young and doing so well! good for you!
I did receive an offer to work for an Allstate office here, going to meet with the owner tomorrow to disuss compensation, base salary etc. He did tell me commission is split 50-50. This is a P&C agengy, inside sales, so no chance to sell B2B, at least I dont think so, based on what Im told. |
|
Serenity
New member
Joined: 19 May 2007
Posts: 2
1.55 Dollars($)
|
|
| Posted: Sun Jun 03, 2007 1:15 pm Post subject: New Insurance Career |
|
|
I would NOT recommend anyone who needs to support a family go work for another agent and split commission.
There are plenty of companies that may hire you and give you 100% of commissions.
You should consider an independent agency. They may give you 75% or so of the commissions with the agreement that in 3-5 years you can take your book and go on your own. That would be much better than the Allstate offer.
*System Edited : Link moved to Signature as per TOS
_________________
Arizona Insurance Broker |
|
gary
New member
Joined: 23 May 2007
Posts: 40
10.82 Dollars($)
|
|
| Posted: Thu Jul 12, 2007 8:05 pm Post subject: |
|
|
im going into an allstate office in CA and want to know how much to negotiate salary at what $ per hour and what % on commission pay out. it would be nice to know what is a fair value to negotiate over. for example, i don't want to go into a car dealership and get ripped off so i go to edmunds.com and get an idea of what my car is going for. thanks in advance for your help.
_________________
Register Now to have your Insurance queries solved. |
|
newinsagent
Guest
|
|
| Posted: Fri Jul 13, 2007 6:56 am Post subject: make the most ! |
|
|
hi newinsagent,
I feel nique1221 has answered your queries in the best possible way & its just a few posts prior to yours!
She has also depicted her email for further interactions. Hope you make the most of it !
Regards,
Simon O' Doneil
_________________
Register Now to have your Insurance queries solved. |
|
Simon O' Doneil
Guest
|
|
| Posted: Fri Jul 13, 2007 8:35 am Post subject: |
|
|
The commission that you can earn from Allstate not only depends on your negotiating capacity. You need to satisfy some other criteria to become an insurance agent. First, you need to decide what type of insurance agent you want to become- captive, independent or brokers. Insurance companies have full control over their captive agents and can also terminate you if you fail to meet their sales target. Whereas, an independent agent can tie-up with several insurance companies and can optimize his commission accordingly. Moreover, to become an agent you have to undertake the training and also have to pass the test set by IRDA.
However, I think, an Allstate agent earns around 10% for a new policy sold and around 8% commission on all policy renewal.
Regards,
Juanita |
|
Juanita
Moderator
Joined: 04 May 2007
Posts: 467
Location: Idaho
100.81 Dollars($)
|
|
