Commission only sales jobs?

I do not even entertain positions that are commission only. If the company is not willing to invest in you, then it is not a company that I would like to work for.

There are plenty of companies out there that will pay someone fresh out of college a base plus commission. Don't go commission only.

I work 100% commission. Not ideal but not unheard of.

If I'm killing it I'm making more money than a typical base + commission.

But you really need to be on the grind and successful because you are not getting paid if you're not closing.

The common belief is commission only means the company is unwilling to risk any financial loss on a hire. The assumption is; an unwillingness to take a risk means the company has a very high turnover rate (redflag). As I'd advise with any interview, use it as an opportunity to ask hard hitting questions. You can interview them as much as they interview you. If you find that the interview is more of a pitch as to why you should work for their company then you probably don't want to work there.

This past summer I worked an internship with an insurance company. Luckily all of the interns were given a stipend but virtually every full time agent was working a commission-only job. From my experience it seems like an incredibly tough way to make a living, especially if you have other people depending on you such as children or a spouse. However, with you being young, it's probably the best time for you to work this sort of job with you likely having no dependents. Commission-only jobs generally present you with opportunities to make much more money than sales jobs that have a base but it's often very difficult and requires an immense level of dedication and hard work that most people aren't willing to put in. There were people in our office without college degree making well over 250k a year and there were others that were struggling to make 2000 dollars a month before they were eventually fired or quit. Me personally I would never want to work a commission-only sales job due to lack of stability. I'd recommend looking for a job with a base salary+commissions if you're interested in working sales.

It depends on the company. I'm in in-home sales and we typically run 2 appointments a day (they can last 3 hours or more) and we're guaranteed 300 leads a year. Our marketing efforts spend about $200/lead so in essence, my base salary is $60,000. I don't have to do any prospecting or cold calls and 90% of the time I'm seeing a potential customer who called because they have a problem that needs to be fixed (some people just want to know if they have a problem or not). Last year I made over $50K in 8 months (started as a service tech until last April) and my goal this year is $100K which is very reachable.

You just have to find a company that provides real training and doesn't rely on you to create leads. PM me if you want to know the company, we're largely nationwide, but not in the financial industry if that's your only goal.

If it's your first job, I'd do commission+base. At your first job, hopefully they'll invest in training and you can learn more of the ropes about sales and also build more of an emergency fund. When you ar confident in your skills and ready to take the leap/risk, I'd do commission only.

I know at least one large insurer in Canada that does something similar with their career sales force (Sunlife) and it is bullshit. Whatever the field if a company is hiring sales people (as opposed to someone to develop their sales process) they should have enough confidence in their own sales methodologies & recruitment processes to not waste your time or theirs. Unfortunately many companies (especially in financial services) are stuck in a 1930's sales model of lets throw as many people at this as possible and those who work we will keep. In my not so humble opinion.

If it's Investor's Group just don't bother. They have legitimately the worst funds in the industry. Same with London Life. Look for a firm that has no proprietary products and will offer you a starting salary. You can get by on pure commission but you have to fuck over your clients to generate it, so keep that into perspective. I'm in the industry.

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I know a lot of insurance jobs are residual based and dont carry much if any of a base salary.

That's not ideal by any means, but if you have no sales experience and can live on what you will be making I wouldn't say its a bad thing.

My buddy does commission only sales (door to door insurance). Two years ago, his first year in, he made 120k. This year he made 180k. Next year he will probably make 225k+. Commission only is a grind and it takes a certain someone to do it. I have thought about trying it but there is a reason that he is constantly hiring new guys under him, most people don't last a month.

Having worked in mutual fund sales (on the wholesale side), the reason most financial advisors go to 100% commission is because they can make more. However, these FAs typically have an existing book of business to bring with them. There's a good amount of risk if you're just starting your career, have household/family/child expenses to cover, or do not have an existing network of potential clients (your book of business). This is no different than a lawyer, doctor, architect, or accountant starting their own practice - which is why most new professionals start out at a group practice or partnership.

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Quick warning about Mutual fund sales. Part of their marketing strategy is to have young college grads use up their social network and then burn out after they have exhausted their network.

Lets say the average college grad will be able to sell 3-6 insurance policies to uncle, dad, aunts, dad's friends. Then what? For a lot of these new grads, thats it. No cold calling, no trade shows.

the company effectively makes a ton of money on your 3-6 accounts, but now you have to find new clients but they haven't given you the tools and training. So these young, motivated, college grads quit thinking they couldn't cut it.

Update! Had an interview at a firm and they explained the first two years. The amount you're given is based on commissions but it's tiered. Each sales goal equals x amount of bonuses + normal commission rate. They were really interested in me and are setting up an interview. Thanks for the advice everyone!

I was scared to death when I started my first commission only job. It turned out to be the single best career decision that I have made.

When I started I was young and newly married. The first year I barely made $20k. It was a grind and I hated it.

The next year I made about $35k. It was easier but still difficult.

The third year I almost made $100k (20 years ago). The job was still hard but at least I got paid fairly well.

Learning outside sales without a net gave me the confidence to start my own company.

It helps that you are an enthusiasts of the product that you will potentially be selling.