Payouts, bonus's, etc vs industry norms

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Nov 11, 2010 12:35 am

Hi all I am beginning a personal advising position with a company for ICM and am curious about how they stack up. any info you have on how these numbers look would be great advice, thanks. The things i will say for ICM is that they help me through all of my
transactions and will even go and do sales presentations with me with
any of my clients, without taking any of my commission. I start off getting 6, 63 and life insurance licenses, then the 7 at
the 6 month mark and also my 24 as if i meet goals over the first 2
years i will get to be a principal for them. I am also curious about the
pay out, which is 40% of gross earnings, then 42 after 6 months then 45
after 12 months, 50% if promoted to district manager(eligable after 2
years if you choose management path) and 55% for division manager if
promoted to that. The bonus's are 10% of net personal production
earnings if you attain 15k of issued gross earnings in a month. 1k bonus
split between top 3 monthly producers. semi annual bonus of 10% of net
personal production earnings, based on min of 30k GDC over 6 month
period. 1k monthly bonus split between top 3 new reps who open most
accounts. 500 monthly bonus just for setting 12 appointments a week. 250
monthly bonus for writing 4 insurance policies in one month plus othe
specific insurance bonus. thank you for any advice you have on how
normal these commission payouts are as well as bonus's, or if they are
over glorified to make to people like me who arent sure if this is an
industry norm, worse or better. thanks again i really appreciate it!