[quote=j20a00g]

the difference is how the contract is drawn. unlicensed people must be licensed by the company so additional costs are involved as well as additional contractual commitments. (5 years, can't take your license elsewhere unless you want to repay some costs)

for you going in unlicensed, you will get paid a salary to 'study'. you will need to follow their training schedule and get your series 7 and 66. the process takes about 3 months. you will also go to st. louis twice for a week at a time. upon arriving back from your 2nd trip your salary will drop to 75%. you will then also be eligible for commission (22% of gross up to $5k 50% for 5k+). you must have atleast $12k gross production by end of production month 6 to continue receiving 75% salary. if not, it drops to 50%. at end of month 12, you must be at $30k gross or your salary drops to 25%. realistically, they are putting a lot of money into you. the salary cuts against the hurdle ($5k starting and then it goes up $1k per year) will either phase you out or keep you motivated. you are technically in the training program for 5 years (at the end of year 5, your hurdle goes to $10k just like everyone elses).

[/quote]

The bolded part above is technically wrong.. but very close.   When you get back from St. Louis you enter a 12 week apprenticeship program where you receive full salary but no commisions.  You must hit 12 new $1k accounts in that period to keep your job.   If you hit 24 accounts in that period you receive a Bonus that amounts to the commissions you would have received on those accounts (calculated at full 50% grid rate).

As soon as the 12 weeks is over you transition to commission and 75% salary the next day as stated in the post above.   Everything stated in the quote was correct.. .just skipped over the apprentice period.

[quote=Kletus]

[quote=j20a00g]

the difference is how the contract is drawn. unlicensed people must be licensed by the company so additional costs are involved as well as additional contractual commitments. (5 years, can't take your license elsewhere unless you want to repay some costs)

for you going in unlicensed, you will get paid a salary to 'study'. you will need to follow their training schedule and get your series 7 and 66. the process takes about 3 months. you will also go to st. louis twice for a week at a time. upon arriving back from your 2nd trip your salary will drop to 75%. you will then also be eligible for commission (22% of gross up to $5k 50% for 5k+). you must have atleast $12k gross production by end of production month 6 to continue receiving 75% salary. if not, it drops to 50%. at end of month 12, you must be at $30k gross or your salary drops to 25%. realistically, they are putting a lot of money into you. the salary cuts against the hurdle ($5k starting and then it goes up $1k per year) will either phase you out or keep you motivated. you are technically in the training program for 5 years (at the end of year 5, your hurdle goes to $10k just like everyone elses).

[/quote]

The bolded part above is technically wrong.. but very close.   When you get back from St. Louis you enter a 12 week apprenticeship program where you receive full salary but no commisions.  You must hit 12 new $1k accounts in that period to keep your job.   If you hit 24 accounts in that period you receive a Bonus that amounts to the commissions you would have received on those accounts (calculated at full 50% grid rate).

As soon as the 12 weeks is over you transition to commission and 75% salary the next day as stated in the post above.   Everything stated in the quote was correct.. .just skipped over the apprentice period.

[/quote]

my apologies. you are absolutely correct! day 1 after surviving your 12 week apprentice you are either phased out or your salary is slashed.

this is unless you are going onto a team. then your salary is slashed upon arriving back from the 2nd trip. you do not have an apprentice period.

thanks for the heads-up kletus!