I agree with MCN. 20% for a rookies and full support is fine. There's a lot to learn early on. Closing these deals is not easy. It's a competitive market and customer loyalty is an afterthought for most merchants.

Don't get hung up on residuals early on. Processing is so competitive and saturated that you will find the margins on the vast majority of seasoned businesses very thin already. I would have to go back through our portfolio and see the average residual per $10k/mo in processing volume to get accurate #'s but if I had to guess it's less than $40/mo. We have large processing accounts that pay much less than this and smaller accounts that pay much more. It all depends on what kind of deal the merchant already has.

Learning the card industry is probably harder than learning how MCA's and loans work but it's a great ancillary skill because building a book can pay for a long time and it can also be sold for a lump sum payment. We typically pay our inside agents just an upfront bonus for each account booked. It's just easier that way for us.

We pay our agents on renewals but at a lower % than the original funding. Our comp schedule it pretty high but that's because we only have experienced agents in house. I would prefer to keep them as long as possible rather than training new people all the time. If you get good at selling this stuff then you have some negotiating power with your ISO. They won't want to lose you so you can negotiate a higher split down the road once you prove yourself. It's not hard to find greener pastures once you know the ropes but you gotta pay your dues first. This is no easy game or get rich quick business no matter who tells you what.