Commission Pay Scale
Posted: Mon Aug 03, 2009 10:09 am
Does anyone have any ideas about what going rates are for producers these days? I have been paying 40% for agency bill and 35% renewal. I finally have a real system to manage all my direct bill commission for my producers, which has made everyone quite happy. I'm also able to manage each ones production per policy which is so nice. I offer a cushion of $2,500 sort of a worst case scenario but then I find that some of my producers become too relaxed. But for the ones I have on straight commission they seem to produce better but are way more stressed out about deal going through and renewing. Especially during these times where its gotten to be so competitive. I want to keep my producers happy and I am wondering.... Is there standard in the business to pay my producers? Or does everyone sort of figure it out on there own?