Sales Rep Pay Structure

Hello,

I am wondering how sales representatives for insurance companies, such as Northwestern Mutual or Mass Mutual, are generally compensated. I imagine sales reps are payed through a combination of salary, commissions and possibly bonuses, but need more specific information. For example, are certain insurance product sales rewarded more heavily than others? Also, how do sales reps track their sales and progress on a period to period basis?

If anyone has experience or insight on how these companies operate, your help is greatly appreciated.

Thank you.

NM is Commission
MM has Salary + Commission

-Joe

Is there a certain way sales reps track their commission? Some sort of software or spreadsheet?

Also, do different products earn greater commission? If so, how is this decided?

Thanks for any responses.

I do not know how reps track their commissions other than guestimating. Yes, certain products pay greater commissions than do others. I do not know how that is decided though.

-Joe

Both are primarily commission. They can/do offer some draw as people get started, but the draw is generally recovered as the rep earns the income to pay it off.

The good mutuals generally pay less up front commissions than their counterparts, often around 1/2 as much. Hope this helps.