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Walmart 1) What the interview process for Data scientist role at walmart?
2) What kind of data science project you guys work on?
3) since walmart is biggest retail industry how complex is your data science project?
4) what are the different Technology stack you guys use? (Eg: Databricks,AWS,Azure etc)
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You want to focus on revenue, not premium. I have been in the space for 10 years. Whenever I am reviewing my pipeline I am estimating the total revenue. Many tools out there give you an idea of what revenue will be.
For example, I am about to write 100 employee group benefits plan. I can estimate premiums based on industry and employee count. I can also look at their prior years 5500 filing. If medical is 1.5 million in premium I will use 5% of that as total revenue. Plus add in dental, vision, life, etc. to get total revenue. Once I establish that the total revenue is, I can figure how much I will make based on how my splits are set up. Simple as that.
A big part of the job as a producer for most big shops is to estimate total revenue on your pipeline. My company needs to forecast and budget future spend which is dependent on accuracy in my pipeline numbers.
Hope this helps.
Appreciate the response.
We do estimate revenue. The issue is my comp plan is supposed to be I receive 50% of revenue the agency receives as commission: and I am not seeing that. A lot of it is due to carriers paying out over time vs. upfront. Hard to live when the commission is $600 but only seeing $50/mo.
Is $250k a lot for your company? You’ve proven you can do the work. Why not open your own practice or switch to another kind of insurance?
This is a great point. At lease check into other IMO/MGAs that give better comps. Be sure to also check that all premiums are figured into your comp. I have spoken to agents receiving 110% to comp, but only on 6 months of premiums.
In my experience… a 50% split is very high and above average for a commercial producer. Honestly… $250k in premium is only approx. $25k in revenue. This is pretty low production in a 10 month timeframe. If you’re new to the industry, give it time.. you will build a book and the potential income is insane.. For reference, I do about $1.5M in premium a year as a commercial lines producer with 5 years of experience (150-175k revenue) I don’t know your market, or if you primarily work in a small business unit, that matters also. I would say grind it out if you can, the commercial lines producer gig is a long game… but it’s so worth it if you’re successful.