In many fields, your income is solely based on your salary. While a salary can be highly predictable, jobs that pay on commission can give you a much higher earning potential. With a commission-based job, you earn a percentage of whatever product you sell so your income is based on your performance.
As an insurance agent, you would work as a liaison between the customer and the insurance company. It is your job to find an insurance policy that works for the customer’s situation. You could choose to sell one of many types of insurance include life, home, auto, health, property, etc. In many cases, insurance agents make most of their living off of the commissions they receive. Of course, the amount an insurance agent will make from a commission depends on a lot of factors. It’s determined by the number of clients you have, your experience level, as well as the compensation agreement with the insurance company. Overall, you can make quite a bit of money the more you sell.
Real estate is a very broad field with several job opportunities. Many of these work on commission. One of the most common would be real estate agents. These agents earn a commission based on how many houses they sell, and they have a fairly high earning potential being the agent earns between 1-3% of the total sell price. Similarly, real estate lenders earn a commission based on the amount of money they loan. One of the best parts about these types of jobs is that you not only control what you earn, you can also depend on a regular amount. Mortgage brokers can also earn commissions on top of their salary. So, you get the best of both worlds with these jobs.
Wholesale and Manufacturing Sales Representative
When working as a retail sales rep, you sell directly to customers. A wholesale or manufacturing sales rep will sell to companies or government agencies. Primarily your job is to sell products to customers. However, there is a lot of work that goes into this. You need to identify customers first and then work with them to determine what their needs are and then help them meet those needs. In the end, you can depend on a commission for your work.
Working on commission can be a great opportunity. You get to have more control over your income because it is mainly based on your performance. Not to mention, one commission can be quite a bit of money. Do some research to see if any commission-based jobs appeal to you.
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