I just completed my grad studies and now wish to get into the insurance sector. Is it hard to make fortune out there? Again,is this a good career option? How is the pay structure?
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Posted: Tue Aug 27, 2013 01:30 pm Post Subject:
Is it hard to make fortune out there? Again,is this a good career option? How is the pay structure?
Is the only concern you have about "the money" you can earn? If so, this is NOT the business for you. There is no "pay structure" -- you receive a commission on the products you sell. You start each day as an unemployed person. No sales, no pay. A graduate degree is not required, nor is it any guarantee of success. Some of the most successful insurance agents in America never earned a college degree.
Yes, plenty of people around the world have become fabulously wealthy because they became licensed insurance agents. Very few of them were focused on the amount of money they could make. Instead, they were/are concerned about the needs of their clients more than anything else.
A rule of professional sales states: If you help others to get what they want, you can have everything you want. But if you're only here to get what you want (i.e., a fortune), you will fail. You may enjoy some limited success initially, but unless you quickly learn that it's not about you and your needs, you will fail.
If you are looking to get into the "inside" aspect of insurance (underwriting, claims, marketing, risk management, reinsurance, etc.) rather than the sales side of insurance, then your graduate degree may be of some value. But if you did not concentrate your studies in insurance, you will start in a low level position and will have to prove your value to the company. But they'll pay you $40,000 per year to start.
Posted: Tue Aug 27, 2013 01:30 pm Post Subject:
Is it hard to make fortune out there? Again,is this a good career option? How is the pay structure?
Is the only concern you have about "the money" you can earn? If so, this is NOT the business for you. There is no "pay structure" -- you receive a commission on the products you sell. You start each day as an unemployed person. No sales, no pay. A graduate degree is not required, nor is it any guarantee of success. Some of the most successful insurance agents in America never earned a college degree.Yes, plenty of people around the world have become fabulously wealthy because they became licensed insurance agents. Very few of them were focused on the amount of money they could make. Instead, they were/are concerned about the needs of their clients more than anything else.
A rule of professional sales states: If you help others to get what they want, you can have everything you want. But if you're only here to get what you want (i.e., a fortune), you will fail. You may enjoy some limited success initially, but unless you quickly learn that it's not about you and your needs, you will fail.
If you are looking to get into the "inside" aspect of insurance (underwriting, claims, marketing, risk management, reinsurance, etc.) rather than the sales side of insurance, then your graduate degree may be of some value. But if you did not concentrate your studies in insurance, you will start in a low level position and will have to prove your value to the company. But they'll pay you $40,000 per year to start.
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