December 14, 2007
Q: What’s it like to work for <fill in the blanks>? Is their training good? Will I really make $100K in my first year selling insurance?
A: There are a number of insurance companies who are always hiring sales agents, “account managers” or (my favorite title) “manager trainees” : Combined, Farmers, Met Life, State Farm, Allstate, Primerica, New York Life, United American. The list goes on. There is a reason why they’re always hiring: They wash out 85-95% of their new agents within two years, 98-99% after 5 years. These are SALES jobs; you sell you eat, don’t sell don’t eat. Some will pay you a stipend or advance your commission if you’re not selling, but the bottom line is you have to sell sell sell, week in week out or your butt is out in the street.
Now there always seems to be 1 out of 100 people who thrives is sales; kid natural who makes $100K her first year. If you’re one of these people, God has blessed you; may he continue to do so. Most other successful sales people just work hard and persevere long enough until they succeed. Average income for a first year sales agent? $30K if you work really hard and get a little lucky.
You’ll find the really good insurance sales jobs don’t need to advertise in the local newspaper. Other insurance professionals know about them and will fight each other for the opportunity.
My advice: if you’re really interested in the industry, get a job working for a successful agent with a good reputation and learn the ropes. When you’re ready, look for a good situation working for yourself selling what you like to sell.
See http://ohio-insurance-forum.blogspot.com/2007/06/q-how-does-insurance-agent-earn.html for a rundown on commissions earned and learn how big you’ll have to be in order to survive the business.
