{ "media_type": "text", "post_content": "Is it common to have no base salary, comp of 50-75% of target premium? Seems like a lot of uncertainty… especially early on with no book to show or much of an experience, scared won’t be able to make even a bare minimum", "post_id": "60ca3a717f3998002b0e042e", "reply_count": 8, "vote_count": 1, "bowl_id": "599feb177c057d0010be0554", "bowl_name": "Financial Advisors" }

Is it common to have no base salary, comp of 50-75% of target premium? Seems like a lot of uncertainty… especially early on with no book to show or much of an experience, scared won’t be able to make even a bare minimum

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It’s not uncommon to have no base pay but you should make sure you get the right support and training up front. You should know who your manager is going to be and how they are going to help you get off to a fast start. Most places that offer some base pay will reduce your share of revenues or tell you how you need to sell to your clients. I started 6 years ago with no base but had decent support and after a few months it was no longer concerning. Message me if you’d like to hear my experience.

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I think it’s uncommon to have no base for someone who is new to the business and has no book. Typically there is a low base and some profit sharing agreement for the first few years.

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It’s very common for insurance companies like northwestern, prudential, mass mutual and etc.

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Common for insurance companies uncommon for wire house and banks.

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Completely agree.

I started with no base or book, and not on a team. Struggled for 2 years but was making it thanks to commission A- shares. Then I hit the reset button and switched firms to one with a base. Way better. Took 2.5 years of the 3 year base to build a big enough book, but now life is good! RIA/ Fee- based takes awhile to get going, but is worth it.

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I started as a new adviser with no base and no book and wouldn’t recommend unless the support/training is solid. It’s intense and can cause huge anxiety if you’re not given the tools you need to succeed

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