First 6 figure commish!

That is before the government get their grubby hands on it. General rule of thumb, at least for those in no state income tax states, subtract 37% from anything you're expecting to get in commission over 20k. It's not quite 37% but as a general rule of thumb it works, always nice to end up with more than you expected.


Anyways, looks like the new goal is to bring in roughly 160k in commish for August so as to actually make a six figure commission.

๐Ÿ’ฐ Compensation
๐Ÿš€ Career Goals
๐Ÿ’ด Money Management
34
1nbatopshotfan
Politicker
4
Sales
Congrats! Keep pushing!!
SaaSam
Politicker
1
Account Executive
Thanks!
LordOfWar
Tycoon
4
Blow it up
Congrats! That'd be a 53.53% rate up here so more power to you.
jefe
Arsonist
2
๐Ÿ
That's a problem I'd gladly face though
SaaSam
Politicker
2
Account Executive
damn.... ya'll make me sad. I guess I should count my blessings.
Pachacuti
Politicker
3
They call me Daddy, Sales Daddy
great job!
SaaSam
Politicker
1
Account Executive
Thanks!
antiASKHOLE
Tycoon
3
Bravado's Resident Asshole
Let's go!!!! congrats!! Pretty little paycheck nonetheless
SaaSam
Politicker
1
Account Executive
Definitely better than a punch in the face. The more I make the more I think those Libertarians are making some sense though. Fuck taxes.
Sunbunny31
Politicker
2
Sr Sales Executive ๐Ÿฐ
I like roads and bridges that don't fall down.
SaaSam
Politicker
0
Account Executive
As do I but that's what gas tax is for. I'm good with certain taxes. Not income though. If you're going to tax it coming in then don't tax it going out and vice versa
GDO
Politicker
3
BDM
Congrats and fuck you. We pay 65% tax on commission
SaaSam
Politicker
0
Account Executive
What in the socialist nation? Where are you from?
nomdeguerre
Executive
2
Account executive
Screams in Denmark ๐Ÿ˜‚
SADNES5
Politicker
0
down voters are marketing spies
jeg forstar det, min ven
GDO
Politicker
2
BDM
Belgium. Salary is taxed at 55 by the way. Of and a sales tax of 12 or 21%
nomdeguerre
Executive
2
Account executive
Iโ€™m not in Denmark anymore though. Moved to the US about 10 years ago. No income tax in Texas ๐Ÿ˜€
GDO
Politicker
2
BDM
This is something that annoys me more and more
SaaSam
Politicker
1
Account Executive
Atta boy!
SaaSam
Politicker
1
Account Executive
You're breaking my heart
SaaSam
Politicker
1
Account Executive
I can totally understand why!!
CuriousFox
WR Officer
3
๐ŸฆŠ
I am in the wrong biz. Congrats bae!
SaaSam
Politicker
0
Account Executive
Thanks! I'm terrified for when the streak comes to an end though
TennisandSales
Politicker
2
Head Of Sales
god damn! nice freaking work! how big of a deal/ total ARR did you have to close to get that big of a check?
SaaSam
Politicker
1
Account Executive
Net new was just under 1M and renewal/upsell came in at 2.94M
TennisandSales
Politicker
1
Head Of Sales
wow. massive!!!
SaaSam
Politicker
1
Account Executive
Thanks, my 3rd record breaking month in a row. This one is shaping up to be my 4th. Just got to find my net new. Have about 3 fish on the line currently
TennisandSales
Politicker
1
Head Of Sales
fucking bonkers dude. nice job!
SaaSam
Politicker
0
Account Executive
Thanks man, it's been nice. I only have a few more months left on this cash cow account of mine. It'll be a sad day when that baby stops paying out
nomdeguerre
Executive
2
Account executive
Nice job. Out of curiosity: what do you sell?
SaaSam
Politicker
1
Account Executive
Combination of software and services for large law firms.
nomdeguerre
Executive
1
Account executive
Cool, nice job.
salezkween
Opinionated
1
Enterprise Account Executive
how long was your deal cycle? amazing work
SaaSam
Politicker
0
Account Executive
It varies. My fastest close was 3 weeks but my longest was 4 months
jefe
Arsonist
2
๐Ÿ
GET IT!!!
SaaSam
Politicker
1
Account Executive
Can't stop won't stop!
jefe
Arsonist
2
๐Ÿ
.
Sunbunny31
Politicker
2
Sr Sales Executive ๐Ÿฐ
Congratulations! Nice win, and I'm sure you'll make your goal.
SaaSam
Politicker
0
Account Executive
Thanks! I'm on track so far
sugardaddy
Politicker
1
๐Ÿฌ
Congrats on that. That's awesome!
SaaSam
Politicker
0
Account Executive
Thanks man!
bassinshaps
Politicker
1
Territory Sales Manager
Freaking G! Thatโ€™ll buy you a lot of coors heavy right there.
popashack
Personal Narrative
1
Sr Account Manager
Tech sales reps are in the 100-200k range depending on location and product. Itโ€™s a hard job to stay on top. The 30% is a rule of thumb but 37% is a good estimate for a corp to corp or 1099 employee.

Forming an LLC or a Sub S corp is a good way to deduct everything more easily. You may find you can keep more than you think. Pay yourself a payroll of 24k or more to cover your required benefits and social security/Suta/Futa let your CPA guide you and do the payroll if they will. One quarter can be used to pay the payroll or all 4.

Company car with a discount for a heavy truck allowing a 50% depreciation the first year, computers, equipment, office expense, training, business lunch, travel expenses for work or seeking work, advertising/marketing, again ask a CPA.

You will likely find you keep more money than the 30 or so %. Do not forget to start retirement funds immediately, self employment has no retirement. Healthcare is a bigger issue that can be worth more than the other benefits and do not forget to negotiate paid vacation and a few sick days or get money to replace it. Samaritan Ministries is not a bad option if it fits your lifestyle and needs.
.
2000 hours is a good yearly number 50-100 an hour is an easy calculation. Company car? Expenses should be there or money to cover it if itโ€™s a sales job.

Negotiate your value is at stake
Kosta_Konfucius
Politicker
0
Sales Rep
What product were you selling?!
AnchorPoint
Politicker
0
Business Coach
Don't stop with one
Valuecreator
Opinionated
0
Director of Sales
I am in the legal services game and that is wild! Would love to know more about what you sell.
Handfullofsass
Opinionated
0
SDR
Thatโ€™s great!
Juancallclose
Catalyst
0
Director
Boom!!!
tightlines
Politicker
0
Account Executive
Congrats!!
I_LOVE_WINE
Executive
0
Enterprise AE
LET'S GOOOOO
ThatNewAE
Big Shot
0
Account Executive - Mid enterprise
Wow! Dreammm ! :)
55
Members only

Sales milestone: Received my first 5 figure commission check!

Discussion
38
5

Ramping Commish

Question
7
19
Members only

Rant: I just need another 100k this month and I'll effectively double my commission and pull in a 6 figure check.

Discussion
39