Average monthly earnings for brokers
Need a Funder or Vendor? START HERE

Results 1 to 25 of 29

Hybrid View

  1. #1
    Senior Member Reputation points: 5110 LJH365's Avatar
    Join Date
    May 2014
    Location
    NY, NY
    Posts
    168

    Both Kevin and $$FundIt$$ are correct.

    The question of whether or not this is a good time for you to get in this business, is only one that you can answer. I have been in the business for 8 years, the first 3 of which I worked at various shops.

    I would say the average for a decent rep, those who find a good shop (hard to do) that pays decent commission (25-40%) that has good marketing (which is rare) and pays renewals, will earn:

    Low end: $30k
    Middle ground: $50k
    High: $70k'
    Rock star/manager: $100k and above

    The problem is finding the right shop. In my first 3 years I worked at about 6 places. One had a great environment but the leads sucked, another had great leads but the owner was a psychopath, several tried to steal my own commissions from me, and one literally just decided not to pay me a $12k commission. I eventually went out on my own.

    One thing is certain- shops that sell only mcas were already a dying breed. And now that a plague is upon us, it is (and will continue to be) even worse.
    Sean Hawley
    CEO
    BLF
    Bright Light Freight
    shawley@brightlightfreight.com.com
    631-210-6327
    SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)

  2. #2
    Senior Member Reputation points: 50201
    Join Date
    Jan 2018
    Posts
    353

    Quote Originally Posted by LJH365 View Post
    Both Kevin and $$FundIt$$ are correct.

    The question of whether or not this is a good time for you to get in this business, is only one that you can answer. I have been in the business for 8 years, the first 3 of which I worked at various shops.

    I would say the average for a decent rep, those who find a good shop (hard to do) that pays decent commission (25-40%) that has good marketing (which is rare) and pays renewals, will earn:

    Low end: $30k
    Middle ground: $50k
    High: $70k'
    Rock star/manager: $100k and above

    The problem is finding the right shop. In my first 3 years I worked at about 6 places. One had a great environment but the leads sucked, another had great leads but the owner was a psychopath, several tried to steal my own commissions from me, and one literally just decided not to pay me a $12k commission. I eventually went out on my own.

    One thing is certain- shops that sell only mcas were already a dying breed. And now that a plague is upon us, it is (and will continue to be) even worse.
    If ISO shops which sell only MCA products were dying breed, how the hell was the MCA industry killing it pre Covid?

Similar Threads

  1. Replies: 2
    Last Post: 07-24-2019, 08:16 AM
  2. Replies: 6
    Last Post: 09-14-2018, 08:31 AM
  3. Replies: 4
    Last Post: 06-14-2017, 10:08 AM
  4. Average Monthly Funding Volume?
    By newtomcabiz in forum Merchant Cash Advance
    Replies: 22
    Last Post: 09-27-2016, 05:59 PM
  5. 500k average monthly gross, needs to consolidate.
    By Miller192 in forum Deal Bin
    Replies: 3
    Last Post: 01-13-2015, 11:16 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Fintech Nexus is shutting down
Fed penalizes Evolve Bank
Cloudsquare unveils Cloudsquare Lend


DIRECTORY