Whats the salary and comission rate for an average Nationwide Agent ? I think im underpayed w/out benefits.?

Question

I work a Nationwide Agency , I work 35 hours a week( because of school) and do about 30 - 50 policies/month. I have my P&C license and about 1 yr of exp. I am currently getting $1280/month salary and have no benefits. I get 25% of the agencies comm, But most of our business is referred from their other offices and since its reffered from other offices they say they have to split the comm. w/ the other offices of up to 80% to the referred office. so im really only getting 25% of the left over 20% agency comm. Theres suppose to be 3 employees/office, but we only have 2. So im almost running the office by myself( i make deposits, go out and take pictures of different properties, answer all calls, submit remittance reports, quote, bind, service clients, close, open, and do service work for her policies. She usually leaves and comes in 1 to 2 hours before i do. If your a NW agent or know about NW please compare me to other NW offices/agents so that i know what im suppose to be getting paid

Answer 1

I sold my agency & retired a little over two years ago, so some things might well have changed. If you are not the actual rinciple agent in the office , meaning you are the IC NW deals w directly , there can be considerable variation on compensation.

My first ten years I ran my father's agency , did 100% of the work , as he had another business he operated full time. I was paid 100% of first year commissions on policies I wrote during that time, w no benefits.

When NW hired me to build my own agency I left all of those policies behind, & started from scratch. After a two year period where NW subsidized me w a salary I went to earning & living on 100% commission.

All agency expenses including rent , phones, yellow pages , staff wages , leads , memberships in associations , etc came out of those commissions, & what remained was my "pay" In the beginning there were some very thin months.

The commission rates may have changed since then , but were 10% for auto new & renl , 15% new for fire , & 10% fire renl , & 10% new & renl for coml policies. Life has many different rates.

I paid my staff commissions on policies they generated themselves....not ones sold from leads I generated , or call ins from yellow pages.

If you aren't the primary agent talk to the agent & express your frustration. Good producers are tough to find & keep. What are your opportunities for becoming an IC yourself??