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...esents survey results divided into rural and suburban/urban groups. These resu...ake such a determination. Only 54% of rural firms said they have such a plan, ...

...vey results for 2000, divided into rural and suburban/urban agency groups. The...en analyzing sales compensation. Rural Agencies ...

... enhanced or the organizational structure is revised, so both the job descriptions and the salary ranges should be reviewed each year. For more than 15 years, my firm has been conducting national compensation surveys that give agency managers an idea of what other firms are paying for comparable positions. The information can be used with local salary comparisons to facilitate the annual review. This article presents survey results divided into rural and suburban/urban groups. These results represent averages, not medians, and are comprised of agencies located throughout the United States. Other than for management positions, agency size has very little bearing on the results, since smaller agencies in a marketing area have to compete salary-wise with the larger ones. Adjustments must be made, however, for nontraditional job descriptions as well as for geographic location ... commissions or a salary as a draw against commissions. Only 26% of the rural producers have such a plan, whereas 57% of the urban salespeople do. For those who are paid on a commission basis, the following charts present the current average rates. Note that these are nationwide averages and not recommended sales compensation percentages. They may indeed be too high for most firms if there's little house business or if the owners expect the agency to produce a reasonable profit. Some agencies provide little or no backup support to producers, while others have technically proficient CSRs, sales centers, and marketing assistance. These extra support expenses must be taken into account when analyzing sales compensation levels. Rural Agencies Personal Lines New - 43%/Renewal - 25% Small Commercial New - 48%/ ...

...st urban agencies and even in many rural firms, the principals have decided to...

... conducting national Compensation Surveys to give agency managers an idea of what other firms are paying for comparable positions. Managers can compare this information with local salary levels to facilitate the annual review process. Web sites that provide data on local salary ranges for comparable jobs include www.jobsmart.org, www.wageweb.com, and www.bls.gov/ncs/ocs/compub.htm. This article includes The Middleton Letter survey results for 2000, divided into rural and suburban/urban agency groups. These results represent averages, not medians, from throughout the nation. Aside from top management positions, agency size has very little bearing on the results because smaller agencies in a marketing area have to offer salaries competitive with the larger ones. In reviewing the survey results, be sure to take into account adjustments for nontraditional job descriptions, as well the fact ... who gets either straight commissions or a salary as a draw against commissions. Only 30% of rural producers have such a plan, compared with 57% of urban sales people. For producers paid on a commission basis, these charts show average rates paid. Note that these are nationwide averages, not recommended' sales compensation percentages. They might well be too high for most firms if there's little house business and/or the owners expect the agency to produce a reasonable profit. Some agencies provide little or no back-up support to producers, while others have technically proficient CSRs, along with sales centers and marketing assistance. Take these extra support expenses into account when analyzing sales compensation. Rural Agencies Personal Lines New 49%/Renewal 23% Small Commercial New 48%/Renewal 24% Regular ...

... are underfoot everywhere. Even in rural areas, there often seem to be more th...

...s compelling differentiation. In a rural area of Wisconsin, Tom Helbach did th...

... 160 __ Will not continue to do business with your Agency. Reason: ____ Special Note: Please use the following space to make any other comments or suggestions which you feel would help our agency improve our service to you in the future: ____ ____ ____ ____ Please categorize the area in which you live: __ Within City Limits __ Suburban __ Rural or Farm __ Own Home __ Renting Please indicate approximate age bracket for you and your wife: __ under 25 __ 25 -35 __ 35-55 __ Over 55 Please indicate your combined annual family income: __ Under &7 ,500 __ $7 ,500-$10,000 __ $10,000-$15,000 __ ... Umbrella Liability Interested? __ Not Interested? __ [includes excess major medical] 4. Mortgage Protection Life Insurance: Interested? __ Not Interested? __ 5. Other Life Insurance or Financial Planning Service: Interested? __ Not Interested? __ Replacement costs have increased 25% in the last 3 years. Do you carry enough insurance? ___ If you can, please give us the year your house was built and the cost of construction, excluding land ____ Construction of home: Masonry ___ Brick Veneer ____ Frame ____ Mixed ___ % ____ Typee of roof ____ Is basement finished? ____ If your house is not insured to 80% of replacement value, you can be penalized at time of loss. &# 160 AUTOMOBILE Expiration Date___ Types of Cars Use ( ...

... Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Recruiting Good Life Agents 4/30/2013 10:38:40 PM by CompleteMarkets Editor This content has not been rated yet. RECRUITING GOOD LIFE AGENTS To the city dweller, the question in the headline may sound silly; Life agents are underfoot everywhere. Even in rural areas, there often seem to be more than enough people selling Life products. But the question is tricky: Notice the word good. That's an important qualifier: It narrows the field. For our purposes, good' means a professional who knows the products, can identify a prospect's insurance needs, and can fill those needs through his or her own knowledge or through associated professionals. It also ... . All qualities are essential. One without the other will not serve an agency well. The art or science of finding good Life agents, or spotting recruits with the potential of becoming good Life agents, is shrouded in a thick fog. Some of the larger Life carriers used to spend more than $125,000 to locate, test, evaluate, contract, train, manage, and house one new agent through the first two years. And yet, even with that expense and time, 80% of those agents left after five years. Many established companies no longer go that route. Fortunately for P/C agencies, recruitment is much shorter, easier, and less costly. You can offer an opportunity that will tempt even the best of the experienced pros. The principle ...

...re around $75,000, perhaps less in rural areas. Can the owner/producer who is...