Payout Question

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Sep 20, 2010 2:31 pm

Hey guys,

New to the website. Could someone steer me towards what one could expect from payout at bank programs? Anyone who can speak from experience? Are there websites that have sample data? I searched here, but couldn't find much.

Sep 20, 2010 2:38 pm

I worked for 3 bank programs before going indy. I know several folks at a couple few others. 

There can be a fair amount of difference between them in payout, and on what kind of emphasis of product as well. A general rule of thumb, is between 25%-45%. It's going to typically fall into a grid system. If you're a bit more specific, I can help you out. If it's a confidential question, feel free and Private Message me.  

Sep 21, 2010 10:24 am

Thanks for taking the time to reply BigFirepower. I understand the grid system, I was wondering if anyone knew of sample grids they could forward me to or provide links. Would you, or anyone else, care to share what you experienced in the bank programs? Feel free to private message. Thanks again.

Sep 21, 2010 12:59 pm

Right now, I'd say that most major programs have a 20-25% payout below 15k per month. You get to a 30% payout around 20-25k through about 35k. From 35k to about 45-50k, you're looking at high 30s, maybe 40%. When you get into the 75k-100k, you might find some that top out as high as 45%. If you're interviewing/being recruited, you should certainly be asking for the grid structure/etc, they'd expect you to ask, and would be willing to provide. One issue at a bank, seen it before, is sometimes they've haircut products. So, instead of an annuity or insurance product paying a GDSC of say 6, they've chopped it to 4 or 5%.... Cute huh, and they think we're too stupid to figure that out...