I am working for a mortgage company that just took away our salary and put all of us on a draw commission starting on the 1st event though they told us yesteday. If I quit at the end of the month do I still get paid the draw or not?
2007-08-16 04:17:34 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Yes, they took it away because of the mortgage crisis. I don't have any sales this month so far at all, and if I quit and don't get paid then I don't want to stay here and work for it and not get anything.
2007-08-16 04:27:15 · update #1
August 1st is when they started it. They made the change and announced it when all the stuff changed in the past week. So we basically worked for "free" for 2 weeks since we were on salary and they took it away and made it commission for the 2 weeks we already worked.
2007-08-16 04:38:14 · update #2
if you are serious about the quiting part -- give them their two weeks notice tomorrow -- and do now expect a draw unless you close a deal before you leave!!!
2007-08-19 12:54:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋
For a mortgage company you should get a draw based on those clients you established. However, there is probably a minimum of time for this. Check your personnel file that stated that you will now be working on a commission basis.
2007-08-16 04:24:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you quit you still get a draw but only on the sales you made.Once you quit if you had no sales since your last regular pay you do not receive a draw because it is a commission of your sales
2016-04-01 16:21:18 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You did not say the 1st of when , Aug or Sept ?
The commission / draw process sounds like it starts on Sept 1st Soooooo ,
You would get salary for August .
Give them the 2 weeks notice and your final paycheck should be there when you leave .
Sorry about that . . .
>
2007-08-16 04:33:09 · answer #4 · answered by kate 7 · 0⤊ 0⤋
Probably not. A 'draw' is a loan from the employer against future commissions. If employment terminates the employee gets neither.
2007-08-16 04:23:35 · answer #5 · answered by Anonymous · 2⤊ 0⤋
Generally, if you quit, you only get paid what you earned.
Check the terms and conditions of your employment. If you have made any sales, they should compensate you accordingly, but if not, I would guess that you would not get to keep the draw.
2007-08-16 04:22:28 · answer #6 · answered by cbmttek 5 · 0⤊ 0⤋
Did they take your pay away due to the mortgage crisis regarding Alt-A and subprime loans?
How stable is the company?
2007-08-16 04:23:11 · answer #7 · answered by SirSnoozeAlot 4 · 0⤊ 0⤋