EJ Compensation package
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The trips were definitely hard to give up but don't you think it is somewhat less than genuine for Jones to include the Whole amount in your end of year summary that is being given by Jones? I mean vendors paid that amount not Jones...... No matter what side of the fence you are on, the trips were nice.Yes, but it isn’t even close to what the trip would have actually cost. Cash payout is $2000. They value the regular trips at about $5500 for tax purposes. The cash payout may be close to the portion Jones has to pay after the vendors kick in their piece.
The trips were definitely hard to give up but don't you think it is somewhat less than genuine for Jones to include the Whole amount in your end of year summary that is being given by Jones? I mean vendors paid that amount not Jones...... No matter what side of the fence you are on, the trips were nice. [/quote] Trips are nice, but I don't even consider it as part of my total compensation. The way I look at it, if I didn't get those trips, I would not go on them myself. The total compensation report they send at year-end is pretty good. It really only helps in comparing to an independant environment (since going to a wire would be very similar). The only way Jones makes sense financially is if you aer a pretty big producer, so your bonuses and profit sharing are substantial. If you are producing $1mm, chances are your payout is around 65%. But that's before expenses, and not including any LP & GP returns, etc. I have a hard time considering LP part of compensation, since you buy it. But, I guess when you are independant, it is similar to investing in the startup of your office. It's a tough comparison, though.[quote=Spaceman Spiff]Yes, but it isn’t even close to what the trip would have actually cost. Cash payout is $2000. They value the regular trips at about $5500 for tax purposes. The cash payout may be close to the portion Jones has to pay after the vendors kick in their piece.
You know, I got my total compensation report in the mail a couple of nights ago. I looked at it where I normally do my best reading, and haven’t looked at it since. I think my percentage of total compensation was something like 50%. And I’m not getting any huge profitability bonuses yet. So I know that number is only going to up over time. 50% payout for not having to do ANYTHING other than sell seemed like a pretty good number.
Agreed. But they should also show us how much we spent out of pocket. Phone, postage, seminars, mailings, marketing, office supplies, etc. That number is significant. I know the number because I keep good records. But I wish they hadn’t done away with the out-of-pocket expense tracking in the system.