Spokane, WA new hire comp: They pass test (I reimburse) then pay starts. Year 1: $40K & 10% comm. Year 2: $30K & 20% comm. Year 3: $20K & 30% comm. Year 4: $10K & 40% comm. Year 5: 50% comm. Thoughts?

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Posting as :
works at
You are currently posting as works at

I'd say you're training someone to leave you when there are firms starting newly licensed Advisors at 60%.
And firms starting salaries at $50-$75k. If this person is going to add value to your practice, run the #s on what you want them doing. Don't be cheap. Licensed Advisors doesn't equal intern or assistant. They should be a revenue producer for you.

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When you say commission, is this a percentage of GDC or based on your total payout (I guess that could be the same thing) or some other variable?

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I guess I should have been more clear. An increasing percentage of revenues generated, etc. It can't be tied to calendar / annual year, has to be tied to performance. You don't want to give an increase to someone that's not performing just because they have another year...

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