Getting out of full commission financial services role.

My killers,

Figured it might be better to post this on here than reddit. I'll try and make it short and sweet as I'm faced with a dilemma. Currently I work as a full commission agent selling annuities/insurance. Been doing this for two years and have loved it, but I turn 25 next month and just got engaged. So looking for something a little bit more stable, base + commission + benefits. Sucks because I suppose that I will likely have to take a paycut but I have a solid resume. I have an MBA and solid GPA because I was a college athlete during covid. Just need some direction on where to start sending resumes where I can land a solid base+commission role without taking too much of a hit. (Made roughly 110k last year, that's probably the most I can make at my position right now)
🧠 Advice
💵 Finance
🛡 Insurance
7
Sunbunny31
Politicker
3
Sr Sales Executive 🐰
So you are looking for an OTE of $110K?    50/50 puts you at a $55K base.    

What is it that you want to do?    You've told us what you are doing, but where do you want to land?   Not that you need to get your dream job right out of the gate, but some level of direction on where you think you might want to go will be helpful. 

Honestly, I'm not sure that the GPA is going to even matter (I've never, ever been asked about it, and I've been in sales for dog's years).  Instead, you're going to need to translate that MBA + experience into communicating how you expect to do well at your next position.  

Bravado Jobs may be able to help, look left on the laptop version.
FadeFader
Fire Starter
2
Financial Services Rep
I live in a pretty cheap area and already own a house and definitely could make 80-90k OTE work. Would love to get in to tech sales preferably some kind of fintech. Have also been getting a lot of bites from payroll companies. I guess I mentioned GPA saying that I’m a pretty fast learner even though tech does go over my head. My guess is finding any BDR/SDR role that could get close to that OTE
Sunbunny31
Politicker
2
Sr Sales Executive 🐰
No worries, if you can turn the GPA into a value statement, as you did, then it makes sense. You can state you are a fast and eager learner, and that will apply to many new positions. Starting as a BDR/SDR in fintech makes sense to me, if it’s something you think would work for you, at least starting out. Don’t be afraid of tech. You won’t have to know everything right out of the gate, if ever. You have to be able to answer “why”. Why your solution is valuable, why your prospect should invest, why now. Leave the “how” to the tech SCs.
jefe
Arsonist
1
🍁
@FadeFader I think this path makes sense, based on the information you've provided.
braintank
Politicker
2
Enterprise Account Executive
Find companies with products that interest you and apply 
Gasty
Notable Contributor
1
War Room Community Manager
TennisandSales
Politicker
0
Head Of Sales
first off congrats. making over six figures in that industry is a big deal. 

I did exactly what you did for 5 years and never was able to break the 6 figure mark.....or anywhere close really. 

I had a really hard time finding a company that valued my closing experience in financial services. 

Many reps I knew that flamed out in full commission went to work at banks, but they still were not able to break $100k. 

What I normally tell ppl is look at the software that you use at work or that is used in the industry. 

Do those companies hire AEs? 

Really start to understand the transferable skills you have and start to learn the language of the industry you want to land in. 
FadeFader
Fire Starter
1
Financial Services Rep
Guess I could say I’m lucky because I basically inherited a book of business and get a lot of referrals. That’s why I am worried that my skills will not transfer directly to an AE role. I feel like I need to learn the corporate/tech game before making that jump, but I could be weong. Thanks for the advice and kind words 🤝
TennisandSales
Politicker
0
Head Of Sales
hmmm. so from my experience, even with referrals, its very rare that someone would come into my office and say "i want a $250,000 30 year term life, plus a $50,000 UL and I have $500k to put into a index annuity" 

you still had to learn about the current state of them, understand the goals, and make suggestions that would align with their goals. 

Also i had to take INSANE amount of notes because of all the different regulations and our firm was super conservative. 

these both translate to being an AE. I still have to have a conversation with a person, understand where they are now, where do they want to go, what is getting in the way, and explain how my product can help get them to where they want to go. 

I have to take detailed notes to make sure my team understands what we are doing, and so I dont miss anything my prospect says. 


TennisandSales
Politicker
0
Head Of Sales
If I was going to do this again, on every interview i would ask them "what has been your experience with hiring financial services reps?" (expect them to say they have 0 experience or a bad one) 

then lay out why they should be concerned: i have not sold this product before, or sold a product that is a subscription based. ect. 

But 

Then lay out the reasons why they SHOULD hire you. dont wait for them to ask you the right questions. give them the info upfront. 
CuriousFox
WR Officer
0
🦊
What products/industry are you interested in?
queenops
Opinionated
0
Maker of Sales
Interesting
2

Consulting Services - How much commission?

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