Money

IinusreU · Post by **IinusreU** » Thu Apr 07, 2005 9:16 am

We are hiring yet another producer. We haven't hired in awhile so I was looking for help on what is going on in the payroll market.

I've heard several options:

1) Base pay(lets say $20,000) and then 35% of agency com% added on.

2) Base pay(lets say $30,000) and then 30% of agency com%. You would NOT get comm% until your comm% exceeds the $30,000 level.

I know this is a touchy issue....but what are other people doing out there? I want to get good people.

Thanks in advance

independent guy · Post by **independent guy** » Thu Apr 07, 2005 11:19 am

Either option sounds very good to me! You might think about giving the option to whoever you choose to hire. I would have chosen option 1 before I got married, but now I'd choose option 2 for the stability.

pita3333 · Post by **pita3333** » Thu Apr 07, 2005 12:00 pm

Without knowing the qualities of the individual and agency....how can anyone comment on compensation?

IF the person is a licensed and seasoned person - vs - new and unlicensed....

If the agency has very few company appointments - vs - agency has many company appointments....

IJ Reader · Post by **IJ Reader** » Thu Apr 07, 2005 12:04 pm

I agree, there are way too many variables ... what part of the country are you in is this for personal lines or commercial lines P&C?

IinusreU · Post by **IinusreU** » Thu Apr 07, 2005 1:10 pm

In Illinois and it is commercial P&C.

I'm just looking for what other people are using...of course if the "right" person comes around that changes everything.

Maybe I should've asked for the "going rate" for new hires with some experience.