EDJ Compensation question

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Mar 8, 2009 11:58 pm

I'm taking the 66 soon, spending a week at KYC, several weeks of field training, Eval/grad, and then back to my market. I have minimal expenses such as reasonable rent, small car payment, phone, food, etc, but am grossing a little over $1000 and netting only about $600 on paydays after medical insurance & 401K. Even with no dependants and minimal expenses that's still not a lot of money which leads to my question.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />


At what point in my early career can I reasonably expect to net at least $1000 per payday? That number is what I'm looking to hit and anything beyond that is just additional bread in the bank. I really have no clue as to whether that is a reasonable expectation (even when the market's sour) or if you SERIOUSLY live in a state of poverty for a while. I’d hate to have to donate plasma like I did in my college years. Lol!


 


After doing my weekly budgeting all I could do was shake my head and hope that $600 - $800 paydays are going to end shortly after eval grad. I’d appreciate anyone that could share their experience in regard to early career compensation at EDJ.


Mar 9, 2009 12:04 pm
Once you start production, you should net between 1500 and 5000 per month your first year, assuming you meet your hurdles but don't knock it out of the park.
 
 
 
Mar 9, 2009 12:14 pm

You need to log more hours ...  take the OT they give you and bank any extra cash you get.

Mar 9, 2009 1:37 pm

After eval/grad you should bring home $1500 a month on salary. This salary ratchets down every four months to $0 on your can-sell aniv. What you make over this amount depends on milestones, new acct bonus and commisions.  

Mar 9, 2009 3:10 pm

Also, be aware that you will not have "paydays" once you get your can-sell. You will be paid once a month. I would get ready for that (if possible) early, because otherwise it is a real rude awakening when the shift from 2 paychecks a month switches to 1.

Mar 9, 2009 3:22 pm

It is somewhat difficult to make that switch.  Not sure why, but when you get used to getting two checks a month, then go to one, even though they may be similar, it's a difficult switch.  Takes some getting used to. 

Mar 11, 2009 12:47 pm

Thanks for the good info everyone; especially the "paid once per month" issue. I consider myself to be extroverted and good with people so if an estimated first year monthly net earnings lie in the $1500 - $5,000 range could I consider averaging $3000 net per month as "typical" and "feasible" for a new-new? I'm fully aware that there are many variables involved and that the EDJ salary decreases every four months to $0 at the 1 year anniversary of my can-sell but I've really been kept in the dark about compensation and what other new-new's have averaged during their first year after can-sell. <?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />


 


As long as I can pay my small amount of monthly living expenses ($1,330) and a modest amount of money to play with I'll be golden. All earnings above that is just hay in the barn. Not being married yet and having no kids makes things a little easier.

Mar 11, 2009 12:55 pm
bastermind80:

Thanks for the good info everyone; especially the "paid once per month" issue. I consider myself to be extroverted and good with people so if an estimated first year monthly net earnings lie in the $1500 - $5,000 range could I consider averaging $3000 net per month as "typical" and "feasible" for a new-new? I'm fully aware that there are many variables involved and that the EDJ salary decreases every four months to $0 at the 1 year anniversary of my can-sell but I've really been kept in the dark about compensation and what other new-new's have averaged during their first year after can-sell. <?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />





As long as I can pay my small amount of monthly living expenses ($1,330) and a modest amount of money to play with I'll be golden. All earnings above that is just hay in the barn. Not being married yet and having no kids makes things a little easier.





Feasible - yes, Typical - no. You should talk to someone else on here - wind9293940203904 or something - he seems to be averaging some good numbers right out of the gate.



Some new-news are slow starters, and then do really well. Some people tear it up out of the gate - and then fall off of the edge. Some people are slow and steady - there are no "typical"



Just make sure you are socking your excess away (and not spending it on pointless Jones Marketing) to have when you have a bad month, or you eventually do decide to get married.



And not to burst your bubble - I wish you all of the luck in the world - but most people in this business are extroverts.

Mar 11, 2009 1:21 pm

The real question is this...What do you have put away now? Do you have enough to last 1 year in this business with no income? If you don't then do something else.  This business has a lot of stress to it and having enough put back for the lean times will take a lot of that stress out of it for you. Just my 2 cents worth. Good luck.

Mar 12, 2009 1:59 pm

Here's another question that highlights how "in the dark" I am with the EDJ compensation system:

 
When I'm told that jones pays a 35-40% payout does that mean that my compensation is 35-40% of my monthly production? I'm leaving for KYC in a few days and I'm sure they'll cover some of this information there. Sorry to sound like such a newbie but hey...isn't that what this particular thread is for?
 
Thanks in advance.
Mar 12, 2009 2:41 pm

Right so if you do, $10K, you would get $4K, minus phone,postage, office supplies, benefits...

Mar 12, 2009 3:21 pm

I don't remember anything about them discussing compensation at KYC. It's all about taking you out of your comfort zone and teaching you how to sell and overcome objections.


After expenses, insurance, taxes, 401k, etc., my net net is usually 27% of my monthly production. So after a gross $10,000 month in production, I'd have $2700 sent to my checking account. 
Mar 12, 2009 3:48 pm

At KYC you will role play first contacts over and over. Everything else is a blur. Take the time to talk to many vets while you're there. Don't spend all your time chasing the girls and drinking it up at Ozzies(if your at St. Louis). Man those were the good days. I take it back. Chase what you can socialize as much as possible because if you want to be successful this will be your last chance for a while. As far as payout consider the least and save the rest YOU WILL NEED IT!! If you meet all your milestone and account bonuses (not many do) you will do about 55k-65k first year.

Mar 12, 2009 4:09 pm

Trainwreck was better then Ozzies.. But there is that scummy place in the same building as Ozzies, but I forgot the name..

Mar 12, 2009 5:12 pm

Hopefully at KYC you will get the 'smoking hot ATL who doesn't wear underwear' and practice your FTF contacts with her.


Mar 12, 2009 6:05 pm

Good info everyone; it's greatly appreciated.

Mar 12, 2009 11:13 pm
buyandhold:

Hopefully at KYC you will get the 'smoking hot ATL who doesn't wear underwear' and practice your FTF contacts with her.


 
Jen is still there?